My grandfather passed away last year and as sole heir and executor I was left the house in Barnoldswick. The house had a small mortgage left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this possible?
If you intend to refinance then Virgin Money will require that you use a conveyancer on the Virgin Money 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 Virgin Money 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 Virgin Money mortgage is registered as a charge at the Land Registry.
3 months have elapsed since my purchase conveyancing in Barnoldswick took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the encouragement of my in-laws I had a survey completed on a property in Barnoldswick prior to instructing solicitors. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some lenders will not give a mortgage on such a home.
It depends who your proposed lender is. HSBC has different requirements from Halifax. Should you wish to call us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Barnoldswick. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Barnoldswick to see if the conveyancing costs will increase in light of this.
I need to instruct a conveyancing solicitor for residential conveyancing in Barnoldswick. I happened to chance upon a site which appears to be the ideal offering If it is possible to get all this stuff completed via email that would be preferable. Do I need to be concerned? What should out be looking out for?
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?
I've found a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Barnoldswick. Conveyancing advisers have not yet been appointed. Will they explain the issues?
The majority of houses in Barnoldswick are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Barnoldswick in which case you should be shopping around for a Barnoldswick conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
Barnoldswick Leasehold Conveyancing - A selection of Queries Prior to Purchasing
-
Generally speaking the cost for major works tend not to be included within service charges, albeit that there some managing agents in Barnoldswick require leasehold owners to contribute towards a reserve fund created for the specific intention of establishing a fund for larger works. Who are the managing agents?
Me and my partner are buying a 2 bedroom maisonettein Barnoldswick with a residential mortgage from a lender. We have selected a lawyer in Barnoldswick but our bank says he's not listed on their "panel". It seems we have little choice but to instruct one of the our lender panel solicitors or keep our Barnoldswick solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that our lender use our Barnoldswick lawyer?
No, not really. The mortgage company mortgage issued is subject to its terms and conditions, one of which will be that solicitors will on the lender's conveyancing panel. Until recently, most mortgage companies had open panels, including almost all conveyancing solicitors in Barnoldswick : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for your bank.