My grandmother passed away 10 months ago and as sole heir and executor I was left the house in Wirksworth. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this allowed?
Where you intend to re-mortgage then Bank of Ireland will insist on your using 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.
Is there a list of HSBC panel solicitors in Wirksworth on the Building Society Association’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lending institutions make their panel listings available online. Where you are seeking to appoint a Wirksworth conveyancer on the HSBC please make the most of our tool.
We have agreed to purchase a house in Wirksworth. One unusual aspect is that the roof has a solar panel. Yorkshire BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Yorkshire BS your lawyer must check the formal instructions outlined in Part two of UK Finance Lenders’ Handbook for Yorkshire BS. The Council of Mortgage Lenders’ Handbook sets out minimum requirements for solar panel roof-space leases, and solicitors are required to report to Yorkshire BS where a lease fails to comply with these requirements. The specifications relate to the installation of panels on properties in England and Wales and is not isolated to Wirksworth.
I currently have a mortgage with Santander for my property in Wirksworth. Conveyancing was finalised months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Santander?
Your original mortgage agreement with Santander will provide that you need their approval prior to renting your property as this is likely to be a breach of Santander’s mortgage conditions. In many cases banks or building societies 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 Santander directly. You need not do this via a Santander conveyancing panel lawyer.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a straight forward, no chain conveyancing. Wirksworth is where the house is located. Is there any guidance you can give?
Flying freeholds in Wirksworth are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wirksworth you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wirksworth may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I need to instruct a conveyancing solicitor for sale conveyancing in Wirksworth. I happened to discover a site which looks to be the perfect solution If there is a chance to get all the legals done via phone that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My wife and I purchased a leasehold house in Wirksworth. Conveyancing and Nottingham Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Wirksworth who acted for me is not around. Any advice?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Wirksworth conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I own a split level flat in Wirksworth, conveyancing was carried out 5 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Wirksworth with an extended lease are worth £222,000. The ground rent is £50 levied per year. The lease comes to an end on 21st October 2095
With 70 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.
Are all Wirksworth conveyancers on every lender conveyancing panel?
The Lexsure search tool on this page may be of use or you can pop into your local lender branch in Wirksworth. Chances are that they will know some good conveyancing solicitors in Wirksworth