My grandfather passed away six months ago and as sole heir and executor I was left the property in Beaconsfield. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this allowed?
If you plan to refinance then Coventry BS will insist on your using a conveyancer on the Coventry BS 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 Coventry BS 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 Coventry BS mortgage is registered as a charge at the Land Registry.
I can not work out if my lender requires a lease extension. I have called my Beaconsfield bank branch on various occasions and was informed it wasn't an issue and they would lend. My Beaconsfield conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Your conveyancing practitioner must comply with the CML Handbook Part 2 requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Planning on purchasing a house in Beaconsfield. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Beaconsfield property lawyer is on the Co-operative conveyancing panel.
Principality have agreed my mortgage in principle, my offer on a house in Beaconsfield has been accepted, what happens next?
Your estate agent will want to be advised as to your conveyancer's details (ensure that the conveyancing practitioners are on the lender’s panel). Telephone Principality or the broker and finalise any outstanding forms. Principality will appoint a valuer who will get in touch with the estate agent or seller to arrange a slot for the valuation to take place. Once carried out (assuming no problems) it takes on average a fortnight to get a mortgage offer. Principality will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Beaconsfield.
What can a local search tell me concerning the house I am buying in Beaconsfield?
Beaconsfield conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations for example Onsearch The local search is essential in every Beaconsfield conveyancing purchase; that is if you don’t want any nasty once you have moved into your property. The search will provide information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
I have a semi-detached Edwardian property in Beaconsfield. Conveyancing solicitor acted for me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold under the exact same property. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Beaconsfield and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with your conveyancing practitioner who carried out the work.
I'm buying my first flat in Beaconsfield benefiting from help to buy. The developers would not budge the price so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not to tell my solicitor about this extras as it would put at risk my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a leasehold apartment up to £195,000 and found one near me in Beaconsfield I like with amenity areas and station in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Beaconsfield for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage the remaining unexpired lease term may be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.