My uncle passed away last year and as sole heir and executor I was left the house in Bourne. The house had a relatively small loan left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Nationwide, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then Nationwide will insist on your using a conveyancer on the Nationwide 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 Nationwide 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 Nationwide mortgage is registered as a charge at the Land Registry.
Is it the case that all Bourne conveyancing solicitors on the Clydesdale conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Clydesdale approved list of solicitors they would need to be regulated by the SRA. Many banks do list licenced conveyancers on their panel and in such a situation the firms would be governed by the Council of Licensed Conveyancers.
I currently have a mortgage with Nottingham for my property in Bourne. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nottingham?
Nottingham must be informed of your intention in advance of letting out your property as this is likely to be a breach of Nottingham’s mortgage conditions. It may be that Nottingham will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nottingham directly. You need not do this via a Nottingham conveyancing panel lawyer.
I am selling my flat. I had a double glazing fitted in November 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, UBS are being a right pain. The Bourne solicitor who is on the UBS conveyancing panel is recommending indemnity insurance as a solution but UBS are insisting on a building regulation certificate. Why do UBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that UBS have referred the matter to their valuer. The reason why UBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Should my lawyer be raising enquiries regarding flooding as part of the conveyancing in Bourne.
Flooding is a growing risk for solicitors carrying out conveyancing in Bourne. There are those who buy a house in Bourne, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, 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 can be carried out by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in Bourne. The conventional set of property information forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the vendor to find out if the property has suffered from flooding. If flooding has previously occurred which is not disclosed by the vendor, then a buyer may commence a legal claim for losses as a result of such an misleading response. The purchaser’s lawyers will also order an enviro search. This should indicate whether there is a recorded flood risk. If so, additional investigations should be initiated.
It has been five months since my purchase conveyancing in Bourne concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Bourne differ for newly converted properties?
Most buyers of new build property in Bourne approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Bourne usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Bourne or who has acted in the same development.
Are there any apps to assist me to identify a Bourne solicitor on the National Westminster Bank conveyancing panel? I have wheels and am happy to travel upto 10kilometers to meet the lawyer.
Feel free to make use of the facility on this website. Please choose the mortgage company and your location and you will see a number of Bourne conveyancing lawyers locally. We have listed some Bourne conveyancing firms towards the end of this page and you can contact them to see whether they are on the National Westminster Bank panel