My grandfather passed away six months ago and as sole heir and executor I was left the house in Pembrokeshire. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this possible?
If you plan to re-mortgage then RBS will insist on your using a conveyancer on the RBS 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 RBS 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 RBS mortgage is registered as a charge at the Land Registry.
Should commercial conveyancing searches reveal impending roadworks that could affect a commercial land in Pembrokeshire?
Its becoming the norm that commercial conveyancing solicitors in Pembrokeshire will execute a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Pembrokeshire. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Pembrokeshire.
For each commercial conveyancing transaction in Pembrokeshire it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to Pembrokeshire commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Pembrokeshire.
It has been 2 months following my purchase conveyancing in Pembrokeshire took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Pembrokeshire differ for newly converted properties?
Most buyers of new build property in Pembrokeshire come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is ready to move into. This is because developers in Pembrokeshire typically acquire 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 Pembrokeshire or who has acted in the same development.
Am I better off to choose a Pembrokeshire conveyancing practitioner who is local to the property I am buying? We have a good friend who can execute the legal work however her office is over three hundred kilometers drive away.
The primary upside of using a local Pembrokeshire conveyancing practice is that you can attend the office to sign documents, deliver your identification documents and pester them if necessary. Having local Pembrokeshire know how is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If other friends have used your friend and in the main were impressed that must outweigh using an unfamiliar Pembrokeshire conveyancing solicitor just because they are based in the area.
Can you provide any advice for leasehold conveyancing in Pembrokeshire from the perspective of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Pembrokeshire can be bypassed if you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold information needed by the purchasers’ representatives. The majority of landlords or Management Companies in Pembrokeshire charge for providing management packs for a leasehold home. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Pembrokeshire. If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unsettled. You believe that you know the number of years left on your lease but it would be advisable verify this via your lawyers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
I inherited a leasehold flat in Pembrokeshire, conveyancing was carried out May 2012. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Pembrokeshire with an extended lease are worth £207,000. The ground rent is £60 charged once a year. The lease terminates on 21st October 2083
With just 58 years remaining on your lease the likely cost is going to range between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.