My aunt passed away six months ago and as sole heir and executor I was left the house in Erdington. 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 Clydesdale, pay off the mortgage. Is this allowed?
Where you intend to re-mortgage then Clydesdale will insist on your using a conveyancer on the Clydesdale 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 Clydesdale 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 Clydesdale mortgage is registered as a charge at the Land Registry.
My wife and I are purchasing a house in Erdington. It might be a silly question but how we can trust a solicitor? On the day of competition we have to put money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
There are a variety of conveyancing solicitors in Erdington but how do I know who's good?
It would be unwise to be seduced by the cheapest Erdington conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I was told three weeks ago that my mortgage has been agreed to by Virgin Money. Is it usual for Virgin Money to only issue the offer once my solicitor in Erdington is approved on their conveyancing panel? Virgin Money have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Virgin Money to deal with your lawyer's application to be on the Virgin Money conveyancing panel. There's no guarantee that your solicitor will be accepted.
Will our lawyer be asking questions about flooding during the conveyancing in Erdington.
Flooding is a growing risk for solicitors specialising in conveyancing in Erdington. Some people will purchase a house in Erdington, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, but there are a number of checks that can be undertaken by the buyer or on a buyer’s behalf which should figure out the risks in Erdington. The conventional set of property information forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a usual question of the seller to find out whether the premises has suffered from flooding. If the premises has been flooded in past which is not notified by the vendor, then a purchaser could bring a claim for damages resulting from an incorrect reply. The purchaser’s lawyers may also order an enviro report. This should indicate whether there is any known flood risk. If so, additional inquiries will need to be initiated.
How does conveyancing in Erdington differ for newly converted properties?
Most buyers of new build property in Erdington come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is built. This is because builders in Erdington tend to 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 conveyancing solicitors 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 accustomed to new build conveyancing in Erdington or who has acted in the same development.
Is it simple use your search facility to choose a conveyancing practitioner in Erdington on the approved list for my lender?
First pick a mortgage company such as HSBC Bank, Barnsley Building Society or Alliance & Leicester then choose your preferred area for instance Erdington. Conveyancing practices in Erdington and across England and Wales will then be listed.
What makes a Erdington lease defective?
There is nothing unique about leasehold conveyancing in Erdington. Most leases are unique and drafting errors can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
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A provision for the recovery of money spent for the benefit of another party. Repairing obligations to or maintain parts of the building
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Bank of Scotland, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.
Leasehold Conveyancing in Erdington - Examples of Questions you should ask Prior to buying
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Be sure to discover if there are any onerous restrictions in the lease. For instance some leases prohibit pets being allowed in in a block in Erdington. If you love the apartmentin Erdington however your cat can’t make the move with you then you will be faced hard compromise. Does the lease have onerous restrictions? What is the annual maintenance fee and ground rent?