My grandmother passed away 10 months ago and as sole heir and executor I was left the house in Botley. The house had a relatively small loan remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this allowed?
Where you intend to refinance then Bank of Ireland will require that you use a conveyancer on the Bank of Ireland 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 Bank of Ireland 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 Bank of Ireland mortgage is registered as a charge at the Land Registry.
When it comes to lenders such as Barclays, do Botley lawyers face an annual charge to be on the conveyancing panel?
We are unaware 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 application.
I have paid off my mortgage with Yorkshire BS. I assume I don't need a Botley conveyancing practitioner on the Yorkshire BS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Botley solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Botley postcode. As you are getting a mortgage with Leeds Building Society, you could contact them to see if they have a list of approved surveyors in Botley.
I bought my house on 13 May and my personal details is yet to be on the land registry website. Need I be worried? My conveyancing solicitor in Botley advises it will be concluded in less than a month. Are titles in Botley uniquely lengthy to register?
As far as conveyancing in Botley is concerned, registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can adjust depending on who lodges the application, whether it is in order and whether the Land registry have to notify any other persons or bodies. At present approximately three quarters of submission are fully dealt with in less than three weeks but some can be subject to longer hold-ups. Historically registration is effected after the buyer is living at the property therefore an expedited registration is not always top priority yet if there is a degree of urgency associated with the registration then you or your conveyancer must speak with the land registry and explain the circumstances.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Botley is where the house is located. Is there any advice you can impart?
Flying freeholds in Botley are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Botley you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Botley may decide 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.
I am looking into buying my first house which is in Botley and I am already nervous. I couldn't find anything specific about Botley. Conveyancing will be needed in due course but do you know about the Botley area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Botley. In the meantime here are some basic statistics that we found
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Botley. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
Most houses in Botley are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Botley in which case you should be looking for a Botley conveyancing practitioner and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor will advise you fully on all the issues.