My grandmother passed away six months ago and as sole heir and executor I was left the house in Gedling. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this allowed?
If you intend to re-mortgage 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.
My partner and I are planning on selling our house in Gedling and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. Any high street Gedling lawyer would know this is not the case. It does beg the question why the buyers are using a factory type conveyancing outfit as opposed to a conveyancing solicitor in Gedling. Having lived in Gedling for many years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing lawyer already. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I decided to have a survey done on a property in Gedling in advance of retaining conveyancers. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some banks tend not issue a mortgage on this type of home.
It varies from the lender to lender. HSBC has different requirements from Halifax. If you call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Gedling. Conveyancing will be smoother if you use a solicitor in Gedling especially if they are accustomed to such properties in Gedling.
Should I be suspicious that estate agents that I am dealing with are encouraging me to use a nationwide conveyancing firm rather than a local Gedling conveyancing firm?
As with many professional services, often recommendations from relatives can be extremely useful or valuable. Yet there are many people with a vested interest in a conveyancing matter; estate agents, mortgage brokers and banks may suggest conveyancers to instruct. On occasion these conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there may be a commercial relationship behind the recommendation. You have the discretion to appoint your own lawyer. However, bear in mind that some mortgage providers specify a panel list of lawyers you have to use for the lender related work in your house move.
I am tempted by the attractive purchase price for a two maisonettes in Gedling both have approximately fifty years remaining on the lease term. should I be concerned?
There are plenty of short leases in Gedling. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the marketability of the lease deteriorates and results in it becoming more expensive to extend the lease. For this reason it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area.
I purchased a split level flat in Gedling, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Gedling with an extended lease are worth £186,000. The ground rent is £55 yearly. The lease terminates on 21st October 2077
You have 52 years left to run the likely cost is going to range between £29,500 and £34,000 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.
When it comes to my conveyancing in Gedling should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Gedling conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancing practitioner's time in submitting the funds this way.