My uncle passed away six months ago and as sole heir and executor I was left the house in Handforth. The house had a relatively small loan left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this possible?
Given you intend 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.
My conveyancer has informed me that chancel insurance is required on my purchase. What is the level of cover for Handforth conveyancing?
The right level of chancel indemnity insurance depends on your lender. It would differ for example between Nationwide Building Society and Chelsea Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
Can I be sure that the Handforth conveyancing solicitor on the Nationwide panel is any good?
When it comes to conveyancing in Handforth seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the lawyer carrying out your transaction.
I currently have a mortgage with Co-operative for my property in Handforth. Conveyancing was finalised months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Co-operative?
Your original mortgage agreement with Co-operative will provide that you need their approval prior to renting your property as this is likely to be a breach of Co-operative’s mortgage conditions. It may be that Co-operative will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Co-operative directly. You need not do this via a Co-operative conveyancing panel firm.
Are there restrictive covenants that are commonly identified as part of conveyancing in Handforth?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Handforth. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Handforth differ for newly converted properties?
Most buyers of new build or newly converted property in Handforth contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is finished. This is because house builders in Handforth tend to acquire 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 used to new build conveyancing in Handforth or who has acted in the same development.
I'm converting the mortgage on my current home to a buy to let mortgage with The Mortgage Works and I will use the ballance of the raised equity as a down payment on another property. The area we are looking at is Handforth. Will your solicitors be able to act for the two lenders and link together the conveyances?
Do use our comparison tool on this site to be sure that the solicitors are approved by both banks. Assuming that they are your lawyer should be able to connect the two deals but you should talk with you lawyer and make apparent your expectations and requirements.
I would like to let out my leasehold apartment in Handforth. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Even though your previous Handforth conveyancing solicitor is no longer available you can check your lease to check if you are permitted to let out the apartment. The rule is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you need to seek consent via your landlord or some other party before subletting. This means you not allowed to sublet in the absence of first obtaining consent. Such consent is not allowed to be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord for their consent.
I inherited a ground floor flat in Handforth, conveyancing was carried out 4 years ago. How much will my lease extension cost? Similar properties in Handforth with a long lease are worth £202,000. The ground rent is £60 invoiced annually. The lease expires on 21st October 2081
With 56 years unexpired we estimate the premium for your lease extension to range between £29,500 and £34,000 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.