My grandmother passed away 10 months ago and as sole heir and executor I was left the property in Buckley. The house had a small mortgage remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this allowed?
Given you plan to re-mortgage then Nottingham will require that you use a conveyancer on the Nottingham 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 Nottingham 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 Nottingham mortgage is registered as a charge at the Land Registry.
Various web forums that I have come across warn that are the number one cause of obstruction in Buckley house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of slowing down conveyancing in Buckley.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what should have been a straight forward, no chain conveyancing. Buckley is the location of the property. Can you shed any light on this issue?
Flying freeholds in Buckley are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Buckley you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Buckley 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 residence.
Taking into account that I am about to spend 450k on a garden flat in Buckley I would like to talk to a lawyer regarding thehouse move ahead of appointing the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you speaking to the conveyancer who will be conducting your conveyancing in Buckley.There is no ‘factory style conveyancing’ - every client is unique individual, not a file reference. The law firms that we put you in touch with believe that the fees you are quoted for residential conveyancing in Buckley should be the amount on the final invoice that you end up paying.
I am attracted to a two flats in Buckley which have approximately fifty years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As the lease gets shorter the saleability of the lease deteriorates and results in it becoming more costly to extend the lease. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area.
I invested in buying a leasehold flat in Buckley, conveyancing having been completed in 2007. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Buckley with over 90 years remaining are worth £186,000. The ground rent is £55 levied per year. The lease finishes on 21st October 2074
You have 53 years unexpired we estimate the price of your lease extension to range between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
Developers have put forward a property lawyer and I've obtained a quote from them. They are almost two hundred pounds cheaper than my preferred Buckley conveyancer. Should I use them?
Developers often have lists of conveyancers who expedite matters and who know the seller’s documentation and conveyancing practitioner. Plenty of developers offer an inducement to choose their approved conveyancing practitioner for this reason, any increased cost can be avoided and a developer will not put forward a conveyancing factory and run the risk of having the transaction delayed when they require an exchange within a tight deadline. A counter-argument for not opting for the recommended lawyer is that they may prove unwilling to fight for your interests at the risk of alienating the housebuilder. If you worry that this may be the situation you should remain with your local Buckley solicitor.