My grandfather passed away last year and as sole heir and executor I was left the house in South Petherton and Lambrook. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this possible?
If you intend to refinance then Nottingham will insist on your using a conveyancer on the Nottingham 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 Nottingham 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 Nottingham mortgage is registered as a charge at the Land Registry.
What can a local search tell me regarding the property we're purchasing in South Petherton and Lambrook?
South Petherton and Lambrook conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations such as Searches UK The local search is essential in every South Petherton and Lambrook conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your property. The search will reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
I have todayfound out that Arc property Solicitors have closed. They carried out my conveyancing in South Petherton and Lambrook for a purchase of a freehold house 18 months ago. How can I check that the property is registered correctly in the name of the former proprietor?
The easiest method to see if the property is registered to you, 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 South Petherton and Lambrook conveyancing specialists.
How does conveyancing in South Petherton and Lambrook differ for new build properties?
Most buyers of new build premises in South Petherton and Lambrook contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because house builders in South Petherton and Lambrook typically purchase the site, 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 conveyancers 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 South Petherton and Lambrook or who has acted in the same development.
In what way can the Landlord & Tenant Act 1954 impact my commercial offices in South Petherton and Lambrook and how can your lawyers assist?
The 1954 Act gives a safeguard to commercial lessees, granting the a statutory right to make a request to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. South Petherton and Lambrook is one of the many locations in which the firms we work with are based
I have just started marketing my basement flat in South Petherton and Lambrook. Conveyancing has not commenced, however I have recently received a quarterly maintenance charge demand – Do I pay up?
The sensible thing to do is pay the maintenance contribution as you normally would as all rents and service charges will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I bought a basement flat in South Petherton and Lambrook, conveyancing having been completed in 2009. How much will my lease extension cost? Comparable properties in South Petherton and Lambrook with an extended lease are worth £192,000. The ground rent is £55 per annum. The lease ends on 21st October 2079
With 54 years remaining on your lease we estimate the premium for your lease extension to range between £32,300 and £37,400 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.