My aunt passed away last year and as sole heir and executor I was left the house in Rustington. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then Aldermore will insist on your using a conveyancer on the Aldermore 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 Aldermore 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 Aldermore mortgage is registered as a charge at the Land Registry.
I am purchasing a property and the solicitor has referenced Chancel Repair for which the property could be obligated to pay given it’s proximity to the area of such a church. She has recommended insurance. Is this really appropriate for conveyancing in Rustington
Unless a prior purchase of the property completed after 12 October 2013 you can expect solicitors handling conveyancing in Rustington to remain encouraging a chancel search and or insurance against a claim.
I purchased a 4 bedroom Georgian house in Rustington. Conveyancing lawyer represented me and Bank of Scotland. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Rustington and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing practitioner who conducted the conveyancing.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Rustington is the location of the property. Can you offer any opinion?
Flying freeholds in Rustington are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Rustington you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rustington may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
What makes a Rustington lease unmortgageable?
There is nothing unique about leasehold conveyancing in Rustington. All leases are unique and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
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Service charge per centages that don't add up correctly leaving a shortfall A provision for the recovery of money spent for the benefit of another party.
You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Bank of Scotland, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.
Rustington Leasehold Conveyancing - A selection of Questions you should consider before buying
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Make sure you find out if there are any onerous restrictions in the lease. For example plenty of leases prohibit pets being allowed in certain buildings in Rustington. If you like the flatin Rustington however your cat can’t move with you then you will be faced difficult compromise. Is anyone aware of any major works on the horizon that will likely add a premium to the maintenance costs? The answer will be important as a) areas can cause problems for the block as the communal areas may start to deteriorate if repairs remain unpaid b) if the leasehold owners have an issue with the running of the building you will need to have all the details
Do online conveyancing companies do everything a high street Rustington solicitor does or do I still need to use a solicitor for the final stages for my conveyancing in Rustington?
Where you choose an online conveyancer they should undertake all the things your Rustington conveyancer would cover.