My grandmother passed away 10 months ago and as sole heir and executor I was left the house in South London. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this possible?
Given you intend to re-mortgage then Bank of Ireland will insist on your using a conveyancer on the Bank of Ireland 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 Bank of Ireland 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 Bank of Ireland mortgage is registered as a charge at the Land Registry.
Do I need to pay for insurance to address the risk of chancel repairs when purchasing a residence in South London?
Unless a previous acquisition of the house completed after 12 October 2013 you can assume that solicitors carrying out conveyancing in South London to remain encouraging a chancel search and or chancel repair liability insurance.
The estate agent has sent us the confirmation of our purchase of a new build flat in South London. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in South London
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a quick, no chain conveyancing. South London is the location of the property. What do you suggest?
Flying freeholds in South London are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside South London you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South London 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 property.
Looking forward to sign contracts shortly on a ground floor flat in South London. Conveyancing lawyers inform me that they will have a report out to me on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in South London should include some of the following:
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Whether the lease restricts you from renting out the flat, or having a home office for business Your conveyancers should enable you to have an understanding of the building insurance obligations You would want to receive a copy of the lease Who has the liability to repair and maintain the block. It is essential that you know who is responsible the repair and maintenance of every part of the building An explanation as to the provision as set out in the lease to pay service charges - in respect of the block, and the more general rights a lessee has
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a South London conveyancing firm to help?
if there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to judgment on the sum to be paid.
An example of a Lease Extension decision for a South London residence is Flat B 10 Grove Avenue in October 2013. Following a vesting order Clerkenwell and Shoreditch County Court 3rd July 2013 The tribunal determines that the premium payable for the lease extension was £36,215.00 This case was in relation to 1 flat. The unexpired lease term was 65.21 years.
How and when do I incur the Stamp Duty Land Tax payable for my conveyancing in South London?
The lawyer should complete a stamp duty return for you during your South London conveyancing transaction for you to sign. On completion your solicitor will submit your STL Return Form to the Inland Revenue and - as long as they have the money - discharge any land tax liability on your behalf.