My grandmother passed away six months ago and as sole heir and executor I was left the property in Welwyn Garden City. The house had a relatively small loan left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Santander, pay off the mortgage. Is this possible?
Given you intend to re-mortgage then Santander will insist on your using a conveyancer on the Santander 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 Santander 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 Santander mortgage is registered as a charge at the Land Registry.
Have just purchased a probate house at auction in Welwyn Garden City. Conveyancing is required. What happens now?
Given that you are now exchanged you now have to choose a conveyancing solicitor as a matter of priority as you are facing a fast approaching deadline in which to complete the deal. All auction property will have a bespoke auction pack. This will likely include most,if not all of the documents that your conveyancer requires. If you have purchased leasehold premises the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to a leasehold property. You should hand this to the solicitor working for you at the earliest opportunity. Do make sure that that you have the requisite funding in order to complete on the date specified in the contract.
My conveyancer has informed me that absentee landlord insurance is required on my purchase. What is the level of cover for Welwyn Garden City conveyancing?
The appropriate level of absentee landlord indemnity insurance should be dictated by who your lender. It would differ for example between Santander and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
I was told three weeks ago that my mortgage has been agreed to by Aldermore. Is it usual for Aldermore to only issue the offer once my solicitor in Welwyn Garden City is approved on their conveyancing panel? Aldermore 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 Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
Have purchased a a terraced house in Welwyn Garden City , What is the estimated time for the Land Registry to deal with the formalities evidencing my ownership? My Welwyn Garden City conveyancing solicitor works at snail pace, so I want to be sure the land registry aspects are concluded.
There is nothing unique when it comes to conveyancing in Welwyn Garden City registration formalities. Rather than based on location, timeframes can vary depending on who lodges the application, whether it is in order and if the Land registry have to notify any interested persons or bodies. At present roughly 80% of such applications are fully dealt with in less than three weeks but some can be subject to protracted delays. Registration is effected after the buyer is living at the premises so registration formalities is not always primary concern yet where it is urgent that the the registration takes place urgently then you or your lawyers should speak with the land registry and explain the circumstances.
I am looking for a leasehold apartment up to £195,000 and found one near me in Welwyn Garden City I like with open areas and railway links nearby, however it's only got 61 years on the lease. There is not much else in Welwyn Garden City in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the remaining unexpired lease term may 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 premises for at least twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
Due to sign contracts shortly on a leasehold property in Welwyn Garden City. Conveyancing solicitors inform me that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Welwyn Garden City should include some of the following:
-
What you can do if a neighbour breaches a clause of their lease? Information as to the provision as set out in the lease to to contribute towards maintenance costs - in relation to the building, and the more general rights a leaseholder has Does the lease require carpeting throughout thus preventing wood flooring? Responsibility to repair and maintain the building. It is important that you know who is responsible the repair and maintenance of all parts of the block and estate Repair and maintenance of the premises
Leasehold Conveyancing in Welwyn Garden City - Sample of Queries Prior to buying
-
How many of the leaseholders are in arrears for their service charge payments? You should want to discover as much as possible about the company managing the building as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to practical issues like the tidiness of the communal areas. Ask prospective neighbours if they are happy with their service. On a final note, investigate as to the dates that you are obliged pay the service charge to the managing agents and specifically what it includes. If a Welwyn Garden City lease has less than 80 years it will have adverse implications on the salability of the property. Check with your bank that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and it is worth discovering how much this will be. For most Welwyn Garden Citylease extensions you will need to own the residence for a couple of years in order to be legally able to extend the lease.
Finally our conveyancing in Welwyn Garden City is completing this Friday, but the people I am buying off wants to move out 24 hours later at PM. Should I accept such a idea?
You can't complete on a Saturday due to the bank systems are not operating.