My aunt passed away last year and as sole heir and executor I was left the house in Dorridge. The house had a small mortgage left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this possible?
Where you plan to re-mortgage then Aldermore will insist on your using a conveyancer on the Aldermore 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 Aldermore 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 Aldermore mortgage is registered as a charge at the Land Registry.
What will a local search reveal regarding the house I am purchasing in Dorridge?
Dorridge conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance Searches UK The local search is essential in every Dorridge conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your new home. The search should supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
I am buying a new build apartment in Dorridge. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Dorridge
-
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I have been on the look out for a leasehold apartment up to £245,000 and identified one near me in Dorridge I like with open areas and station in the vicinity, however it only has 61 years on the lease. There is not much else in Dorridge suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the shortness of the lease may be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
In searching the web for the words conveyancing in Dorridge it brings up numerous solicitorsin the area. With so much choice what is the best way to find the suitable property lawyer for purchase transaction?
The ideal way of finding the right conveyancer is through a personal testimonial, so ask colleagues and relatives who have bought a property in Dorridge or a local estate agent or financial adviser. Fees for conveyancing in Dorridge differ, so it's a good idea to request a minimum of four fee estimates from different conveyancers. Make sure that you know that the fees are fixed.
We are midway through purchasing a property in Dorridge. Conveyancing lawyer has told us the property is "Leasehold". Will this likely make a difference on our Santander valuation?
Dorridge conveyancing does not usually involve leasehold houses. The crucial consideration here is the unexpired lease term and the ground rent. If there are over a hundred years remaining with a peppercorn rent, it's almost the same as freehold, so it shouldn't impact the marketability too much.
On the flip side, if it's, say, 50 years it is bound to have a adverse impact on the saleability, and probably wouldn't be mortgageable. The remaining lease term and ground rent will be stated in the lease which should be made available to your conveyancing practitioner.