My uncle passed away 10 months ago and as sole heir and executor I was left the property in Delabole. The house had a small mortgage left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this allowed?
If you plan to refinance then Nottingham will insist on your using a conveyancer on the Nottingham 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 Nottingham 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 Nottingham mortgage is registered as a charge at the Land Registry.
Can you point me to a directory of Virgin Money panel conveyancers in Delabole on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. Very few lending institutions make their panel listings visible on the web. If you are looking for a Delabole lawyer on the Virgin Money please use our tool.
Last month we had a mortgage agreed in principle with Leeds Building Society. Delabole conveyancing lawyers were selected. How long does it take for Leeds Building Society to forward the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Leeds Building Society conducted the survey? Have you informed Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am expecting a AIP from Lloyds this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Lloyds recommend any Delabole solicitors on the Lloyds conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Delabole solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
Various internet forums that I have come across warn that are the number one cause of hinderance in Delabole house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature within the common causes of delays during the legal transfer of property. Searches are unlikely to feature in any holding up conveyancing in Delabole.
I am looking for a leasehold apartment up to £305k and identified one round the corner in Delabole I like with a park and transport links in the vicinity, however it's only got 61 remaining years left on the lease. There is not much else in Delabole for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
In my capacity as executor for the will of my uncle I am disposing of a house in Cardiff but I am based in Delabole. My lawyer (approximately 300 miles awayneeds me to sign a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing practitioner in Delabole who can witness this legal document for me?
strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are Delabole based
What makes a Delabole lease defective?
There is nothing unique about leasehold conveyancing in Delabole. All leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts.
You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, The Mortgage Works, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.
Delabole Leasehold Conveyancing - Examples of Queries before buying
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You will want to find out as much as you can regarding the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to every day issues such as the cleanliness of the communal areas. You should not be afraid to ask other tenants if they are happy with them. Finally, find out the dates that the service fees are due to the appropriate party and specifically what you get for your money. What restrictions exist in the Delabole Lease?