My grandmother passed away six months ago and as sole heir and executor I was left the house in Taunton. 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 HSBC, pay off the mortgage. Is this possible?
Where you intend to re-mortgage then HSBC will require that you use a conveyancer on the HSBC 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 HSBC 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 HSBC mortgage is registered as a charge at the Land Registry.
2 months have elapsed following my purchase conveyancing in Taunton completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. 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.
I have been on the look out for a ground for flat up to £245,000 and identified one round the corner in Taunton I like with a park and transport links nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in Taunton for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage that many years may be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.
Taking into account that I will soon spend 450k on a terraced house in Taunton I would like to have a conversation with the solicitor regarding thehome move before appointing the firm. Is this something that you can arrange?
This is something that we encourage - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor who will be conducting your conveyancing in Taunton.There is no ‘factory style conveyancing’ - each client is unique person, not a case number. The practices that we put you in touch with believe that the figure you are quoted for your conveyancing in Taunton should be the amount on the final invoice that you are charged.
I have just appointed agents to market my basement flat in Taunton. Conveyancing has not commenced, however I have just had a quarterly service charge demand – what should I do?
The sensible thing to do is discharge the invoice as usual because all ground rent and maintenance payments should be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents 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 studio flat in Taunton, conveyancing having been completed 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Taunton with over 90 years remaining are worth £265,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2099
With just 75 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
Is it the case that all Taunton property lawyers on every bank conveyancing panel?
The Lexsure search tool on this page may be of use or you can drop into your local bank branch in Taunton. Chances are that they can recommend conveyancing solicitors in Taunton