My grandmother passed away last year and as sole heir and executor I was left the property in Benton. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Skipton, pay off the mortgage. Is this allowed?
Where you plan to refinance then Skipton will require that you use a conveyancer on the Skipton 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 Skipton 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 Skipton mortgage is registered as a charge at the Land Registry.
My bid for a property was accepted at auction in Benton. Conveyancing is necessary. What are my next steps?
Given that you have now exchanged you now have to find a conveyancing solicitor as a matter of priority as you are faced with a pending a fixed date to complete the deal. An auction property should have a bespoke legal pack. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the legal papers may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to a leasehold property. You need to hand this to your appointed conveyancing solicitor as soon as possible. Do make sure that that you have the requisite funding in place to complete the transaction on the set completion date.
I am being advised by my solicitor that breach of easement insurance is needed on my purchase. What is the level of cover for Benton conveyancing?
The appropriate level of breach of easement indemnity insurance should be dictated by who your lender. It would differ for example between Barclays and Chelsea Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
When it comes to mortgage companies such as Aldermore, do Benton conveyancing practitioners incur a fee to be on the conveyancing panel?
We are not aware of any mortgage company fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Will my lawyer be making enquiries about flooding during the conveyancing in Benton.
Flooding is a growing risk for solicitors dealing with homes in Benton. Some people will buy a property in Benton, completely aware 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 dispose of the property. There are steps that can be taken 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 various searches that may be carried out by the purchaser or by their conveyancers which will figure out the risks in Benton. The conventional set of completed inquiry forms supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the owner to discover if the property has suffered from flooding. If the property has been flooded in past which is not notified by the vendor, then a purchaser could bring a claim for damages as a result of such an incorrect reply. A buyer’s solicitors may also commission an enviro search. This should disclose if there is a recorded flood risk. If so, additional inquiries should be made.
I am purchasing my first flat in Benton with the aid of help to buy. The sellers would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not to tell my solicitor about this side-deal as it will adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
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've recently found out that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Benton is where the house is located. Can you offer any guidance?
Flying freeholds in Benton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Benton you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Benton may ascertain 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 property.
When it comes to my conveyancing in Benton should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Benton conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancer's time in submitting the funds this way.