My aunt passed away six months ago and as sole heir and executor I was left the property in Midhurst. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Clydesdale, pay off the mortgage. Is this allowed?
If you plan to refinance then Clydesdale will insist on your using a conveyancer on the Clydesdale 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 Clydesdale 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 Clydesdale mortgage is registered as a charge at the Land Registry.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Midhurst?
There are many registered licenced Conveyancers in Midhurst and Solicitor partnerships in Midhurst offering conveyancing We would stress that the two are regulated professionals specialising in the legal aspects of the home buying process. Both can handle other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
My father informed me that in buying a property in Midhurst there could be various restrictions as to what one can do in terms of external alterations to a property. Is this right?
There are a number of properties in Midhurst which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Midhurst should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I was told three weeks ago that my mortgage has been agreed to by Lloyds. Is it usual for Lloyds to only issue the offer once my solicitor in Midhurst is approved on their conveyancing panel? Lloyds have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in Midhurst differ for newly converted properties?
Most buyers of new build property in Midhurst contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is constructed. This is because developers in Midhurst typically purchase 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 Midhurst or who has acted in the same development.
I opted to have a survey done on a house in Midhurst ahead of retaining conveyancers. I have been told that there is a flying freehold overhang to the property. The surveyor has said that some lenders will not issue a loan on such a house.
It varies from the lender to lender. Lloyds has different requirements for example to Birmingham Midshires. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Midhurst. Conveyancing will be smoother if you use a solicitor in Midhurst especially if they are familiar with such properties in Midhurst.
My brother has encouraged me to appoint his conveyancing solicitors in Midhurst. Should I find my own conveyancer?
No doubt the best way to find a conveyancing solicitor is to get referrals from friends or family who have actually experience in using the firm you're are thinking of instructing.
If all goes to plan we aim to complete our sale of a £475,000 garden flat in Midhurst in nine days. The freeholder has quoted £372 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Midhurst?
Midhurst conveyancing on leasehold apartments ordinarily necessitates administration charges invoiced by management companies :
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Answering pre-exchange questions
Where consent is required before sale in Midhurst
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I invested in buying a garden flat in Midhurst, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Midhurst with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 levied per year. The lease finishes on 21st October 2081
With just 56 years unexpired we estimate the premium for your lease extension to range between £29,500 and £34,000 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.