My uncle passed away last year and as sole heir and executor I was left the property in Belgravia. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Yorkshire BS, pay off the mortgage. Is this allowed?
Given you plan to re-mortgage then Yorkshire BS will require that you use a conveyancer on the Yorkshire 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 Yorkshire 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 Yorkshire BS mortgage is registered as a charge at the Land Registry.
When it comes to mortgage companies such as Barclays, do Belgravia lawyers incur an annual charge to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
is it true that all Belgravia solicitors on the Lloyds conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Lloyds conveyancing panel they would need to be overseen by the SRA. Many banks do list licenced conveyancers on their panel and in such a situation the firms would be regulated by the Council of Licensed Conveyancers.
We are getting the release of further funds on our mortgage from Leeds Building Society as we wish to carry out improvements to our property in Belgravia. Do we need to select a local Belgravia solicitor on the Leeds Building Society conveyancing panel to handle the legals?
Leeds Building Society would not normally require firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society list.
Will our lawyer be raising questions regarding flooding as part of the conveyancing in Belgravia.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Belgravia. There are those who purchase a property in Belgravia, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, however there are a numerous searches that may be carried out by the buyer or by their lawyers which can give them a better understanding of the risks in Belgravia. The conventional set of information given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard question of the owner to find out if the premises has suffered from flooding. If flooding has previously occurred and is not notified by the owner, then a purchaser may issue a legal claim for losses as a result of such an misleading reply. A buyer’s solicitors should also carry out an enviro search. This will reveal if there is any known flood risk. If so, additional inquiries should be carried out.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Belgravia is where the house is located. Is there any advice you can give?
Flying freeholds in Belgravia are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Belgravia you must be sure that your lawyer goes 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 Belgravia may determine 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.
In what way can the Landlord & Tenant Act 1954 impact my commercial offices in Belgravia and how can your lawyers assist?
The 1954 Act gives a safeguard to business lessees, giving them the dueness to apply to court for a new lease and remain in occupation at the end of an expired lease. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Belgravia is one of our many locations in which the firms we work with are located
I am hoping to sign contracts shortly on a ground floor flat in Belgravia. Conveyancing solicitors have said that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Belgravia should include some of the following:
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Specifying your rights in relation to the communal areas in the block.By way of example, does the lease permit a right of way over a path or staircase? Who has the liability to repair and maintain the main walls and foundations. It is important that you know which party is liable for the repair and maintenance of all parts of the block and communal areas The total ownership of the demise. This might be the property itself but may include a loft or storage are if applicable. Whether your lease provides for a slush fund? Do you need to have carpet in the flat or are you allowed wood flooring?
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Belgravia. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to determine the amount due.
An example of a Lease Extension decision for a Belgravia property is Flat 3 47 Cadogan Square in December 2010. the Tribunal determined that the premium payable to the landord by the leaseholder for the lease extension was £732,935 This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 13.33 years.