My aunt passed away last year and as sole heir and executor I was left the house in Penley. The house had a small mortgage left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Santander, pay off the mortgage. Is this possible?
Where you plan to re-mortgage then Santander will require that you use a conveyancer on the Santander 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 Santander 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 Santander mortgage is registered as a charge at the Land Registry.
Various internet forums that I have visited warn that are a common reason for obstruction in Penley house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any delay in conveyancing in Penley.
About to purchase a new build apartment in Penley. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Penley
-
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are surveyor prepared. Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I opted to have a survey carried out on a property in Penley prior to instructing conveyancers. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some banks will refuse to grant a mortgage on such a premises.
It depends who your proposed lender is. Lloyds has different requirements for example to Nationwide. If you call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Penley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Penley to see if the conveyancing will be more expensive.
I am using a search engine for the words cheap conveyancing in Penley it reveals many conveyancersin the area. With so much choice what is the best way to find the suitable conveyancer for me?
The best way of finding the right conveyancer is via trusted testimonial, so ask colleagues and those you trust who have purchased a property in Penley or a local estate agent or financial adviser. Fees for conveyancing in Penley vary, so it's advisable to request at least four costs illustrations from different property lawyers. Be sure to seek confirmation that the fees are fixed.
Can you provide any advice for leasehold conveyancing in Penley with the intention of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Penley can be bypassed where you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ representatives. The majority of freeholders or managing agents in Penley levy fees for providing management packs for a leasehold home. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Penley. A minority of Penley leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers. If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to unresolved. If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Penley state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such works. Where you dont have the paperwork in place you should not contact the landlord without contacting your solicitor in advance.
Penley Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
-
Are there any major works in the planning that will increase the maintenance costs? This question is helpful as a) areas can cause problems in the building as the communal areas may start to deteriorate if services remain unpaid b) if the leasehold owners have an issue with the running of the building you will need to have full disclosure Who takes charge for maintaining and repairing the block?