As someone clueless as to the Tisbury conveyancing process what is your top tip you can impart for the home moving process in Tisbury
You may not hear this from too many lawyers but conveyancing in Tisbury or throughout England and Wales is an adversarial process. Put another way, when it comes to conveyancing there is lots of room for conflict between you and others involved in the legal transfer of property. For instance, the vendor, selling agent and even potentially your lender. Selecting a law firm for your conveyancing in Tisbury should not be taken lightly as your conveyancer is your adviser, and is the ONE party in the legal process whose role it is to protect your legal interests and to keep you safe.
Sometimes a third party with a vested interest will attempt to sway you that you should follow their advice. For example, the selling agent may claim to be helping by claiming that your solicitor is dragging his heels. Or your mortgage broker may advise you to do take action that is against your solicitors advice. You should always trust your lawyer above all other parties in the conveyancing process.
My aunt passed away last year and as sole heir and executor I was left the house in Tisbury. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then Lloyds will insist on your using a conveyancer on the Lloyds 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 Lloyds 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 Lloyds mortgage is registered as a charge at the Land Registry.
What is your number one tip for choosing a conveyancing solicitor in Tisbury
It would be unwise to be tempted by the cheapest Tisbury conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Forgive me if this question is silly but I am wet behind the ears as FTB of a two bedroom flat in Tisbury. Do I receive the keys to the premises on completion from my lawyer? If this is the case, I will use a local conveyancing solicitor in Tisbury?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the purchase money to the vendor’s conveyancers, and shortly after the monies have arrived, you will be able to receive the keys from the Estate Agents and move into your new home. This tends to happen early afternoon.
The mortgage over my property is with HSBC for my property in Tisbury. Conveyancing has been completed months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform HSBC?
You must advise HSBC before renting your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. You need not do this via a HSBC conveyancing panel solicitor.
I'm purchasing a new build house in Tisbury benefiting from help to buy. The developers refused to move on the amount so I negotiated 6k of extras instead. The property agent suggested that I not disclose to my lawyer about this deal as it could jeopardize my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I have been on the look out for a ground for flat up to £305k and identified one round the corner in Tisbury I like with a park and station nearby, however it's only got 52 years unexpired on the lease. There is not much else in Tisbury suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
My mother purchased her house in Tisbury ten years ago. She has been married, divorced and has recently remarried. She wishes to market the property in a few weeks. I suspect that she will just be requested to supply copies of the marriage certificates to the property lawyer however she is anxious it will frustrate the sale of the property. Should she appoint a lawyer to update the land title details for the property?
The is no need to bring up to date the register as long as you have the evidence needed to demonstrate how the name change has come about.
The buyer’s conveyancer will check the title information and require evidence to establish the change of name e.g. marriage certificates.