My uncle passed away last year and as sole heir and executor I was left the property in Waterbeach. The house had a small mortgage 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 possible?
Where 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.
How does conveyancing in Waterbeach differ for new build properties?
Most buyers of new build residence in Waterbeach contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is constructed. This is because house builders in Waterbeach typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Waterbeach or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a property in Waterbeach prior to appointing conveyancers. I have been advised that there is a flying freehold element to the house. The surveyor has said that some lenders will not issue a loan on such a house.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you e-mail us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Waterbeach. Conveyancing may be slightly more expensive based on your lender's requirements.
As co-executor for the estate of my aunt I am disposing of a house in Monmouth but I am based in Waterbeach. My conveyancer (based 250 miles from mehas requested that I sign a stat dec ahead of completion. Can you recommend a conveyancing lawyer in Waterbeach who can attest this legal document for me?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are located in Waterbeach
We expect to complete the disposal of our £450,000 maisonette in Waterbeach in six days. The management company has quoted £300 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Waterbeach?
Waterbeach conveyancing on leasehold maisonettes more often than not necessitates the buyer’s solicitor sending questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to assist. They are at liberty to charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is demanded should you wish to complete the sale of your home.
Waterbeach Leasehold Conveyancing - Examples of Questions you should consider Prior to buying
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Most Waterbeach leasehold apartments will incur a service bill for the upkeep of the building set on behalf of the landlord. If you buy the apartment you will have to meet this contribution, usually periodically accross the year. This could be anything from two or three hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a rentcharge for you to pay annual, this is usually not a exorbitant figure, say around £50-£100 but you need to check it because sometimes it can be surprisingly expensive. Is there a share of the freehold? On the whole the cost for major works are not included within maintenance charges, although a few managing agents in Waterbeach obliged tenants to contribute towards a sinking fund created for the specific intention of establishing a fund for larger works.
Our lawyer in Waterbeach has uncovered a a problem with the lease for the flat we are purchasing in Waterbeach. The other side have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that as he is on the mortgage company conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or the bank?
Just because you have a mortgage offer from the mortgage company does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Waterbeach conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the mortgage company are the client. These conveyancing instructions must be adhered to by the lender conveyancing panel who has to balance acting for you and the bank