My aunt passed away six months ago and as sole heir and executor I was left the house in Frinton and Walton. 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 UBS, pay off the mortgage. Is this possible?
If you intend to refinance then UBS will insist on your using a conveyancer on the UBS 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 UBS 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 UBS mortgage is registered as a charge at the Land Registry.
There are plenty of conveyancing solicitors in Frinton and Walton but how do I know who's good?
It would be unwise to be tempted by the lowest Frinton and Walton conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. 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 happen to be the sole beneficiary of my late grandmother’s will and I have everything in my name now, including the my former home in Frinton and Walton. Conveyancing formalities meant that the Land Registry date was in July. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', meaning my proprietorship could be considered the same way as if I'd bought the property in July. Will no one buy the property for half a year?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. Most lenders would take a pragmatic view as this requirement is chiefly there to capture the purchase and immediately sell or the wholesaling and assigning of properties.
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Frinton and Walton bank branch on a couple of occasions and was told they are content with the situation and they will lend. My Frinton and Walton conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their published requirements. Who do I believe?
Your conveyancing practitioner must comply with the Council of Mortgage Lenders’ Handbook section two conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have a terraced Victorian property in Frinton and Walton. Conveyancing lawyer acted for me and Barclays . I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Frinton and Walton and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing solicitor who completed the work.
I am purchasing my first flat in Frinton and Walton with the aid of help to buy. The developers refused to reduce the price so I negotiated 6k of additionals instead. The estate agent told me not inform my conveyancer about this extras as it may adversely affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am one month into a residential purchase having been directed to a firm by the high street agent to perform conveyancing in Frinton and Walton. We are not happy. Can you help me find new conveyancers?
A conveyancer would have to be very bad in order to consider changing them. Has your loan offer been sent? If so you must make them aware of the new contact details and ensure the loan are issued to the new lawyers. The solicitor ideally should be on the lenders approved list to avoid supplemental costs and frustration. That should be your first question of the new solicitors. Our search tool should help you find a lender approved lawyer for your conveyancing in Frinton and Walton
Do you have any top tips for leasehold conveyancing in Frinton and Walton from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Frinton and Walton can be avoided if you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ representatives. Some Frinton and Walton leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers. You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is below 80 years. In the circumstances it is essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. Many freeholders or managing agents in Frinton and Walton charge for providing management packs for a leasehold home. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Frinton and Walton. If you hold a share in a the Management Company, you should ensure that you have the original share document. Arranging a re-issued share certificate can be a time consuming formality and frustrates many a Frinton and Walton conveyancing transaction. Where a duplicate share is needed, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.
Leasehold Conveyancing in Frinton and Walton - A selection of Queries before Purchasing
-
Make sure you investigate if the the lease contains any adverse restrictions in the lease. For instance it is fairly common in Frinton and Walton leases that pets are not allowed in in a block in Frinton and Walton. If you like the propertyin Frinton and Walton however your dog is not allowed to make the move with you then you will be faced difficult determination. Its a good idea to discover as much as you can concerning the company managing the building as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents from a financial perspective and when it comes to daily issues such as the upkeep of the communal areas. Don't be shy to ask other people what they think of their service. In conclusion, investigate as to the dates that the service charges are due to the appropriate party and specifically how they are spending that money. Who takes charge for maintaining and repairing the building?