My uncle passed away last year and as sole heir and executor I was left the property in Oakley. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this allowed?
If you intend to re-mortgage then Lloyds will require that you use a conveyancer on the Lloyds 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 Lloyds 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 Lloyds mortgage is registered as a charge at the Land Registry.
Please help - my lawyer advises that chancel insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Oakley?
The right level of chancel indemnity insurance should be dictated by who your lender. It would differ for example between Santander and Barnsley Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
is it true that all Oakley solicitor practices on the TSB conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the TSB approved list of solicitors they would need to be governed by the SRA. Some lenders do list licenced conveyancers on their panel in which case such practice would be overseen by the CLC.
I currently have a mortgage with Leeds Building Society for my property in Oakley. Conveyancing has been completed some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Leeds Building Society?
Leeds Building Society must be informed of your intention in advance of letting out your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. It may be that Leeds Building Society will permit you to let 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 Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel solicitor.
I have todaydiscovered that Wolstenholmes have closed. They conducted my conveyancing in Oakley for a purchase of a leasehold apartment 18 months ago. How can I establish that my home is in my name in the name of the former proprietor?
The easiest method to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Oakley conveyancing specialists.
I am purchasing a new build house in Oakley with a mortgage from Platform Home Loans Ltd. The sellers would not budge the amount so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not disclose to my conveyancer about this extras as it may jeopardize my mortgage with Platform Home Loans Ltd. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I opted to have a survey done on a property in Oakley ahead of appointing lawyers. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some banks may not give a mortgage on a flying freehold premises.
It varies from the lender to lender. Santander has different requirements for example to Halifax. If you contact us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Oakley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Oakley to see if the conveyancing costs will increase in light of this.
How do I use the search tool to find a conveyancing solicitor in Oakley on the approved list for my bank?
1st pick a mortgage company such as HSBC Bank, Skipton Building Society or TSB then choose your location such as Oakley. Conveyancing firms in Oakley and nationally will then be shown.