My aunt passed away 10 months ago and as sole heir and executor I was left the house in Beddgelert. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to TSB, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then TSB will require that you use a conveyancer on the TSB 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 TSB 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 TSB mortgage is registered as a charge at the Land Registry.
My aunt informed me that in buying a property in Beddgelert there could be a number of restrictions preventing external alterations to a property. Is this right?
There are a number of properties in Beddgelert which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Beddgelert should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am aiming to move house in May. Does my conveyancing solicitor update the removal company on the completion day. Incidentally, can you suggest a removal company in Beddgelert. Conveyancing firm was chosen before I stumbled across this page.
On the day of completion you will need to pick up the keys from your selling agent however this can only occur after the sellers solicitors advise the agent that they have the completion monies and the keys can be released. After that you will need to inform the removal men that you are ready to move in. As a matter of policy we do not suggest a specific removal organisation but can help you find a conveyancing in Beddgelert or a legal practice that specialises in conveyancing in Beddgelert.
After months of negotiation I have agreed a price on an apartment in Beddgelert. My financial adviser suggested a lawyer. I paid an advanced payment of £150. Soon after, the conveyancer contacted me sheepishly admitting that they were not on the Leeds Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Leeds Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have been told that property searches are the main cause of delay in Beddgelert house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of slowing down conveyancing in Beddgelert.
I'm buying my first flat in Beddgelert with a mortgage from Norwich and Peterborough Building Society. The developers refused to move on the price so I negotiated 6k of additionals instead. The estate agent suggested that I not inform my lawyer about this deal as it would put at risk my mortgage with the bank. Is this normal?.
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 opted to have a survey carried out on a property in Beddgelert prior to retaining lawyers. I have been told that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies will not issue a loan on a flying freehold house.
It depends who your proposed lender is. Lloyds has different requirements for example to Halifax. Should you wish to telephone us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Beddgelert. Conveyancing may be slightly more expensive based on your lender's requirements.
I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Beddgelert. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Beddgelert ?
The majority of houses in Beddgelert are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are purchasing in Beddgelert so you should seriously consider shopping around for a Beddgelert conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your solicitor should report to you on the legal implications.
I own a 1st floor flat in Beddgelert, conveyancing formalities finalised 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Beddgelert with a long lease are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease expires on 21st October 2081
You have 56 years unexpired we estimate the premium for your lease extension to be between £29,500 and £34,000 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.