My aunt passed away last year and as sole heir and executor I was left the house in Thame. 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 Nationwide, pay off the mortgage. Is this possible?
If you intend to refinance then Nationwide will require that you use a conveyancer on the Nationwide 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 Nationwide 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 Nationwide mortgage is registered as a charge at the Land Registry.
Does a directory service exist listing Nottingham panel solicitors in Thame on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association sites. A small selection of lenders make their panel listings viewable over the internet. If you are looking for a Thame property lawyer on the Nottingham please use our facility.
I have today made my last payment due on my mortgage with Bank of Ireland. I assume I don't need a Thame lawyer on the Bank of Ireland panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I was told three weeks ago that my mortgage has been agreed to by Lloyds. Is it usual for Lloyds to only issue the offer once my solicitor in Thame is approved on their conveyancing panel? Lloyds have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have been on the look out for a flat up to £245,000 and found one near me in Thame I like with amenity areas and railway links in the vicinity, however it's only got 51 remaining years left on the lease. I can't really find anything else in Thame for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a home loan that many years may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
Do I need to be wary that third parties that I am dealing with are encouraging me to use a nationwide conveyancing firm rather than a High Street Thame conveyancing company?
As with lots of professional services, often suggestions from family and friends can be worth their weight in gold. Nevertheless there are many people with a keen interest in a conveyancing transaction; estate agents, financial adviser and banks may put forward solicitors to select. On occasion these lawyers might be known to one of the organisations as experts in their field, but occasionally there may be a commercial relationship behind the recommendation. You have the right to select your preferred lawyer. However, bear in mind that many lenders specify a panel list of lawyers you have to use for the lender related work in your house move.
In my capacity as executor for the will of my uncle I am disposing of a property in Monmouth but live in Thame. My conveyancer (based 260 miles awayhas requested that I execute a stat dec before completion. Can you recommend a conveyancing lawyer in Thame to attest and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are Thame based
Our property lawyer in Thame has requested from me identification documents saying that this is part of his obligations as a conveyancer on the lender Solicitor panel. Is this right?
Anti-terror and anti-money-laundering rules require Thame conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the lender also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the bank's UK Finance Lenders’ Handbook requirements