My grandfather passed away 10 months ago and as sole heir and executor I was left the house in Llanarmon Yn Ial. The house had a small mortgage left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Kent Reliance, pay off the mortgage. Is this allowed?
If you plan to refinance then Kent Reliance will require that you use a conveyancer on the Kent Reliance 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 Kent Reliance 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 Kent Reliance mortgage is registered as a charge at the Land Registry.
Are there restrictive covenants that are commonly identified as part of conveyancing in Llanarmon Yn Ial?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Llanarmon Yn Ial. 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…’
I decided to have a survey completed on a property in Llanarmon Yn Ial prior to retaining solicitors. I have been told that there is a flying freehold element to the property. Our surveyor has said that some mortgage companies tend refuse to give a mortgage on this type of property.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Llanarmon Yn Ial. Conveyancing will be smoother if you use a solicitor in Llanarmon Yn Ial especially if they are familiar with such properties in Llanarmon Yn Ial.
Am I right to be concerned by estate agents that I am dealing with are encouraging me to use a nationwide conveyancing firm as opposed to a local Llanarmon Yn Ial conveyancing firm?
As with many service providers, often referrals from relatives can be very helpful. Nevertheless there are numerous people with a keen interest in a conveyancing matter; estate agents, financial adviser and mortgage companies might all recommend solicitors to choose. Sometimes the lawyers might be known to one of the organisations as one of the best in their field, but occasionally there may be a commercial relationship behind the endorsement. You are free to select your preferred conveyancer. You need to be aware that some lenders operate an approved list of conveyancers you are obliged to use for the mortgage aspect of your transaction.
Having checked my lease I have discovered that there are only 72 years unexpired on my flat in Llanarmon Yn Ial. I am keen to extend my lease but my landlord is missing. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the lessor. In some cases an enquiry agent would be helpful to try and locate and to produce an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Llanarmon Yn Ial.
I own a studio flat in Llanarmon Yn Ial, conveyancing was carried out 4 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Llanarmon Yn Ial with a long lease are worth £185,000. The ground rent is £65 invoiced every year. The lease finishes on 21st October 2086
With just 60 years left to run the likely cost is going to span between £20,000 and £23,000 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should 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.
We are midway through buying a property in Llanarmon Yn Ial. Conveyancing lawyer has called to say the property is "Leasehold". Does this adversely affect the marketability of the house?
Llanarmon Yn Ial conveyancing does not in most situations involve leasehold houses. The main consideration here is the unexpired lease term and the ground rent. If it's 999 years with a nominal rent, it's virtually freehold, so it’s unlikely to impact the saleability significantly.
At the other extreme, if it's, say, fifty five years it will have a significant impact on the value, and most likely wouldn't be mortgageable. The remaining lease term and ground rent will be specified in the lease which should be made available to your conveyancing practitioner.