My grandmother passed away six months ago and as sole heir and executor I was left the property in Arlesey. The house had a small mortgage left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this allowed?
Given you plan to re-mortgage then HSBC will insist on your using a conveyancer on the HSBC conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your HSBC conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the HSBC mortgage is registered as a charge at the Land Registry.
Last month we had a mortgage agreed in principle with TSB. Arlesey conveyancing practitioners are appointed. How long does it take for TSB to send the offer to the conveyancing practitioner?
Some lenders take longer than others. Have TSB conducted the valuation? Have you advised TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Arlesey building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Arlesey conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. I simply don't know who is right.
The conveyancer must comply with the CML Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Arlesey solicitor - who is on the HSBC conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Arlesey postcode. As you are getting a mortgage with HSBC, you could contact them to see if they have a list of approved surveyors in Arlesey.
How does conveyancing in Arlesey differ for new build properties?
Most buyers of new build residence in Arlesey approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is built. This is because builders in Arlesey tend to acquire the site, 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 used to new build conveyancing in Arlesey or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. Arlesey is the location of the property. What do you suggest?
Flying freeholds in Arlesey are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Arlesey you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Arlesey may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Taking into account that I will soon spend £400,000 on a house in Arlesey I would like to talk to a lawyer concerning thetransaction in advance of appointing the firm. Is this something that you can arrange?
We could not agree more - we would be pleased to talk to you we do not take any clients on without you liaising with the conveyancer who will be carrying out your conveyancing in Arlesey.There is no ‘factory style conveyancing’ - each client is an important person, not a file number. The law firms that we put you in touch with believe that the figure you are quoted for residential conveyancing in Arlesey should be the amount on the final invoice that you are charged.
Should I instruct a Arlesey conveyancing practitioner who is local to the property I am purchasing? I have an old university friend who can deal with the conveyancing but his firm is located approximately 350miles away.
The benefit of a local Arlesey conveyancing firm is that you can attend the office to sign paperwork, hand in your ID and pester them where appropriate. They will also have local knowledge which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and in the main were impressed that must outweigh using an unfamiliar Arlesey conveyancing lawyer solely due to them being round the corner.