My grandfather passed away last year and as sole heir and executor I was left the property in Betws Y Coed. The house had a small mortgage left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Leeds Building Society, pay off the mortgage. Is this possible?
Given you plan to refinance then Leeds Building Society will insist on your using a conveyancer on the Leeds Building Society 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 Leeds Building Society 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 Leeds Building Society mortgage is registered as a charge at the Land Registry.
I am the single beneficiary of my late father’s will and I have everything in my name alone, including the house in Betws Y Coed. Conveyancing formalities meant that the Land Registry date was in November. I want to move. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership will be treated the same way as though I had purchased the house in November. Is the property unsalable for six months?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How sensible a view mortgage companies take of it, depend on the lender as this provision principally exists to pick up on subsales or the quick reselling of properties.
After months of negotiation I have agreed a price on a house in Betws Y Coed. My financial adviser suggested a property lawyer. I paid an on account payment of £200. A few days later, the conveyancing practitioner contacted me sheepishly admitting that they were not on the Skipton 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 Skipton 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.
Planning on purchasing a house in Betws Y Coed. 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 UBS 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 Betws Y Coed solicitor is on the UBS conveyancing panel.
Is it possible to switch conveyancer as I have to appoint one who is on the Bank of Scotland conveyancing panel. I was using a family conveyancing solicitor in Betws Y Coed five minutes from me but he is not accepted by Bank of Scotland
We will our best to assist in finding you a conveyancing solicitor in Betws Y Coed on the Bank of Scotland panel. Please note that the property lawyers that we work with do not pay us commission if you instruct them and are under regulation of the Solicitors Regulation Authority who oversee all conveyancing solicitors in Betws Y Coed. In utilising the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Betws Y Coed.
I need to find a conveyancing solicitor for sale conveyancing in Betws Y Coed. I happened to stumble across a web site which seems to have the perfect offering If there is a chance to get all this stuff completed via web that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Do you have any advice for leasehold conveyancing in Betws Y Coed from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Betws Y Coed can be avoided where you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ representatives. The majority of freeholders or Management Companies in Betws Y Coed levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Betws Y Coed. If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Obtaining a replacement share certificate is often a time consuming formality and slows down many a Betws Y Coed home move. If a duplicate share is required, do contact the company officers or managing agents (if relevant) for this as soon as possible. If you have had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as historic rather than ongoing.
I am the registered owner of a studio flat in Betws Y Coed, conveyancing was carried out March 1999. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Betws Y Coed with an extended lease are worth £190,000. The ground rent is £65 yearly. The lease ends on 21st October 2086
You have 61 years unexpired we estimate the price of your lease extension to span between £19,000 and £22,000 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
I am just shy of a 10% deposit on my apartment purchase in Betws Y Coed , but I am anxious go ahead. What can I do?
You can accept a smaller deposit. Most sellers will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute