My aunt passed away six months ago and as sole heir and executor I was left the property in Holbrook. 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 UBS, pay off the mortgage. Is this possible?
Where you intend to re-mortgage 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.
Can I be sure that the Holbrook conveyancing solicitor on the UBS panel is any good?
When it comes to conveyancing in Holbrook 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 which is cheap as chips. We would always advocate that you speak with the lawyer carrying out your transaction.
After months of negotiation I have agreed a price on a house in Holbrook. My mortgage broker suggested a property lawyer. I paid an on account payment of £150. A few days later, the lawyer called me to say that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Having digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Holbrook solicitor - who is on the Bank of Ireland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland 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 Holbrook 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.
I am downsizing from our property in Holbrook and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any local lawyer would know this is not the case. It does beg the question why the purchasers instructed a national conveyancing firm rather than a conveyancing solicitor in Holbrook. Having lived in Holbrook for 5 years we know that this is a non issue. Do we contact our local Authority to seek clarification that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You need to 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 life insurance to cover that same illness)
Due to the guidance of my in-laws I had a survey completed on a house in Holbrook in advance of retaining lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some lenders will refuse to issue a loan on such a home.
It depends who your proposed lender is. Santander has different instructions from Birmingham Midshires. If you e-mail us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Holbrook. Conveyancing may be slightly more expensive based on your lender's requirements.
I am employed by a long established estate agent office in Holbrook where we have experienced a few leasehold sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Holbrook conveyancing firms. Please can you confirm whether the owner of a flat can start the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I acquired a 2 bed flat in Holbrook, conveyancing formalities finalised 9 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Holbrook with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease ends on 21st October 2087
You have 63 years unexpired the likely cost is going to be between £16,200 and £18,600 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other issues 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 before getting professional advice.
What type of property do your Holbrook conveyancing estimates apply to?
Our conveyancing quotes are only appropriate to standard residential homes in England & Wales. Should you have any different requirements such as industrial or agricultural property or commercial conveyancing in Holbrook please telephone us to address your requirements .