My grandmother passed away 10 months ago and as sole heir and executor I was left the house in Anstey. The house had a small mortgage remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this allowed?
Given you plan to re-mortgage then HSBC will require that you use a conveyancer on the HSBC 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 HSBC 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 HSBC mortgage is registered as a charge at the Land Registry.
My lawyer has informed me that defective lease insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Anstey?
The right level of defective lease indemnity insurance depends on who your lender is. It would differ for example between Accord Mortgages Ltd and Coventry Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
We have a mortgage agreed in principle with Bank of Ireland. Anstey conveyancing practitioners are instructed. How long does it take for Bank of Ireland to forward the offer to the lawyer?
Some lenders take longer than others. Have Bank of Ireland completed the valuation? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have finally had an offer on an apartment in Anstey agreed to, but there is a chain. The sellers have put an offer on a property, but it’s not yet agreed to, and are looking at other flats booked. I have instructed a high street conveyancing solicitor in Anstey. What do I do now? At what stage do I apply for the mortgage with Skipton?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then valuation, Anstey conveyancing search charges, etc). The first course of action is to ensure that your conveyancer is on the Skipton approved list. As to the next stages this very much depends on the circumstances of your case, attraction to this property and on the state of the market. In a hot market some purchasers would apply for a home loan with Skipton and pay for the valuation and only if it was satisfactory would they ask their lawyer to press on with the conveyancing in Anstey.
I own a 4 bedroom Georgian house in Anstey. Conveyancing solicitor represented me and Platform Home Loans Ltd. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Anstey and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing practitioner who conducted the conveyancing.
How does conveyancing in Anstey differ for new build properties?
Most buyers of new build property in Anstey approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is built. This is because developers in Anstey tend to purchase 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 Anstey or who has acted in the same development.
I decided to have a survey done on a house in Anstey in advance of appointing conveyancers. I have been told that there is a flying freehold aspect to the property. The surveyor advised that some lenders will not issue a loan on such a premises.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Anstey. Conveyancing will be smoother if you use a solicitor in Anstey especially if they are accustomed to such properties in Anstey.
I own a leasehold house in Anstey. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Anstey who previously acted has now retired. Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Anstey conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a studio flat in Anstey, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Anstey with over 90 years remaining are worth £207,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease comes to an end on 21st October 2079
With only 57 years left to run the likely cost is going to be between £28,500 and £33,000 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.