My uncle passed away last year and as sole heir and executor I was left the property in Tenbury Wells. 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 allowed?
If you intend to refinance then Bank of Ireland will require that you use 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.
Can I be sure that the Tenbury Wells conveyancing solicitor on the Nationwide panel is any good?
When it comes to conveyancing in Tenbury Wells seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer carrying out your conveyancing.
We have agreed to purchase a house in Tenbury Wells. An unusual aspect is that the roof has a solar panel. TSB have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with TSB your lawyer must follow the formal instructions contained in Part two of UK Finance Lenders’ Handbook for TSB. The Council of Mortgage Lenders’ Handbook includes minimum provisions for solar panel roof-space leases, and conveyancers are required to report to TSB where a lease does not satisfy these provisions. The conditions relate to the installation of panels on properties nationwide and is not restricted to Tenbury Wells.
After shopping around on the internet I have found a Tenbury Wells conveyancing practitioner having made sure that they are on the Santander conveyancing panel. Does my lawyer arrange the survey of the property?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Tenbury Wells surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Will my lawyer be raising questions regarding flooding as part of the conveyancing in Tenbury Wells.
Flooding is a growing risk for conveyancers conducting conveyancing in Tenbury Wells. Some people will purchase a house in Tenbury Wells, completely aware that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, but there are a various checks that can be undertaken by the purchaser or by their conveyancers which can figure out the risks in Tenbury Wells. The standard information supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) includes a standard inquiry of the seller to determine whether the premises has ever been flooded. If the property has been flooded in past which is not revealed by the seller, then a purchaser could issue a claim for damages as a result of such an inaccurate answer. The purchaser’s lawyers should also conduct an enviro report. This will indicate whether there is any known flood risk. If so, additional inquiries should be made.
I am purchasing a new build house in Tenbury Wells with the aid of help to buy. The builders refused to reduce the price so I negotiated 6k of additionals instead. The house builders rep suggested that I not to tell my conveyancer about the extras as it would jeopardize my loan with The Royal Bank of Scotland. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
We're novice buyers - had an offer accepted, yet the selling agent advised that the seller will only go ahead if we appoint their chosen conveyancers as they are insisting on a ‘quick sale’. We would rather use a family solicitor with experience of conveyancing in Tenbury Wells
We suspect that the seller is not behind this demand. Should the seller want ‘a quick sale', taking such a hostile approach to a genuine buyer is is going to put the whole deal at risk. Speak to the owners direct and make the point that (a)you are genuine purchasers (b)you are ready to progress, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)however you are going to appoint your preferred Tenbury Wells conveyancing lawyers - not the ones that will provide their negotiator at the agency a kickback or achieve conveyancing targets pre-set by corporate headquarters.
At what stage do I pay stamp duty chargeable for my conveyancing in Tenbury Wells?
Most solicitors tend to complete a stamp duty return for you during your Tenbury Wells conveyancing transaction for you to sign. After completion your conveyancing practitioner will submit your Land Transaction application to the Inland Revenue and - assuming they have the funds - pay any tax bill payable on your behalf.