In what way does my ID and proof of funds have anything to do with my conveyancing in Dorking? What am I being asked for?

Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to check the ID of the potential client they are dealing with before they can accept their conveyancing instruction. The Terms and Conditions that you need to sign will no doubt reaffirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you refuse to provide ID verification documents, your conveyancer will not be able to take you on as a client.

How does conveyancing in Dorking differ for newly converted properties?

Most buyers of new build premises in Dorking come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is finished. This is because builders in Dorking typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Dorking or who has acted in the same development.

I decided to have a survey completed on a house in Dorking before retaining lawyers. I have been informed that there is a flying freehold element to the house. Our surveyor advised that some lenders tend refuse to issue a mortgage on this type of house.

It varies from the lender to lender. Lloyds has different requirements for example to Halifax. Should you wish to telephone us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Dorking. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Dorking to see if the conveyancing will be more expensive.

My cousin has recommend that I appoint his conveyancing solicitors in Dorking. Do I follow his recommendation?

There are no two ways about it the ideal way to select a conveyancing solicitor is to get recommendations from friends or family who have actually experience in using the conveyancer that you are contemplating using.

What makes a Dorking lease unmortgageable?

Leasehold conveyancing in Dorking is not unique. Most leases are individual and drafting errors can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

Repairing obligations to or maintain elements of the building A duty to insure the building

You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

Leasehold Conveyancing in Dorking - A selection of Queries before buying

In the main the cost for major works tend not to be included within maintenance charges, albeit that there some managing agents in Dorking ask leaseholders to pay into a reserve fund and this is used to offset against larger works. The majority of Dorking leasehold flats will incur a service bill for the upkeep of the block invoiced on behalf of the landlord. Where you acquire the property you will have to meet this contribution, usually periodically during the year. This could vary from two or three hundred pounds to thousands of pounds for large purpose-built buildings. In all likelihood there will be a ground rent to be met yearly, this is usually not a large figure, say about £25-£75 but you need to enquire it because sometimes it can be surprisingly expensive. How much is the ground rent and service charge?