My grandmother passed away last year and as sole heir and executor I was left the property in Cheshunt. 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 Principality, pay off the mortgage. Is this allowed?
Given you intend to refinance then Principality will insist on your using a conveyancer on the Principality 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 Principality 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 Principality mortgage is registered as a charge at the Land Registry.
What is the difference between a licensed conveyancer and conveyancing solicitor in Cheshunt
There are many registered licenced Conveyancers in Cheshunt and Solicitor practices in Cheshunt offering conveyancing It is important to make clear that both are regulated professionals specialising in the legal work in the home buying process. Both can deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I am currently in the process of buying my council flat in Cheshunt. I have a mortgage agreed with Clydesdale. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
RBS have agreed my mortgage in principle, my bid on a property in Cheshunt has been accepted, what happens next?
The estate agent will wish to be informed of your lawyer's details (ensure that the lawyers are on the lender’s approved list). Call up RBS or your financial adviser and finish off any relevant forms. RBS will sellect a valuer who will get in contact with the selling agent or seller to book a time for the valuation to occur. Once carried out (assuming no problems) it takes about a fortnight to receive the mortgage offer. RBS will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Cheshunt.
3 months have gone by following my purchase conveyancing in Cheshunt took place. I have checked the Land Registry website which shows that I paid £175,000 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 residence 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 simple is it to use your search tool to get a costs illustration from a conveyancing solicitor in Cheshunt on the approved list for my lender?
Step one is to select a bank such as Halifax, Barnsley Building Society or Godiva Mortgages Ltd then choose your location e.g. Cheshunt. Conveyancing practices in Cheshunt and further afield should be listed.
I've recently bought a leasehold property in Cheshunt. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a split level flat in Cheshunt, conveyancing was carried out October 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Cheshunt with a long lease are worth £197,000. The ground rent is £55 invoiced annually. The lease ends on 21st October 2081
You have 55 years left to run we estimate the premium for your lease extension to span between £31,400 and £36,200 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.
Our conveyancing in Cheshunt is completing next Friday, however the person I am purchasing off wants to vacate on the Saturday at 2pm. Do I agree to this?
You can't complete on a Saturday because the bank systems aren't working.