My uncle passed away 10 months ago and as sole heir and executor I was left the house in Haslemere. 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 Santander, pay off the mortgage. Is this possible?
If you intend to refinance then Santander will require that you use a conveyancer on the Santander 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 Santander 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 Santander mortgage is registered as a charge at the Land Registry.
I'm the only recipient of my late grandmother’s estate and I have everything in my name alone, including the house in Haslemere. Conveyancing formalities meant that the Land Registry date was in August. I want to move. I understand that there is a Mortgage Lenders six month 'rule', meaning my proprietorship will be treated the same way as though I had purchased the house in August. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. How sensible a view mortgage companies take of it, depend on the lender as this provision principally exists to capture subsales or the flipping of property.
It is unclear whether my mortgage offer requires a lease extension. I have called into my local Haslemere bank branch on a couple of occasions and was advised it wasn't a problem and they would lend. My Haslemere conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. Who do I believe?
The solicitor has to comply with the Council of Mortgage Lenders’ Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After shopping around on the internet I have found a Haslemere conveyancer having made sure that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Haslemere surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
What does a local search tell me regarding the property we're purchasing in Haslemere?
Haslemere conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company for instance Xpress Legal The local search is essential in every Haslemere conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your property. The search will provide information on, amongst other things, details on planning applications relevant 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 topic sections.
I am buying a new build house in Haslemere with the aid of help to buy. The developers refused to budge the price so I negotiated £7000 of extras instead. The sale representative suggested that I not inform my lawyer about the deal as it may adversely affect my mortgage with National Westminster Bank. Do I keep my lawyer in the dark?.
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.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one close by in Haslemere I like with open areas and transport links nearby, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Haslemere in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan that many years may be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
In sourcing the world wide web for the phrase conveyancing in Haslemere it shows results of numerous conveyancerslocally. With so much choice what is the best way to find the suitable conveyancer for purchase transaction?
The preferential way of finding the right conveyancer is via personal referral, so enquire of friends and family who have purchased a property in Haslemere or the local estate agent or mortgage broker. Costs for conveyancing in Haslemere differ, so it's a good idea to secure at least four fee estimates from varying types of companies. Dont forget to clarify that the charges are assured not to to be inflated.