My aunt passed away 10 months ago and as sole heir and executor I was left the property in Colliers Wood. 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 HSBC, pay off the mortgage. Is this possible?
Where you intend to re-mortgage then HSBC will insist on your using 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.
Forgive me if this question is silly but I am wet behind the ears as FTB of a garden flat in Colliers Wood. Do I receive the keys to the house on completion from my lawyer? If this is the case, I will appoint a local conveyancing solicitor in Colliers Wood?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you will be invited to pick up the keys from the property Agents and move into your new home. Usually this occurs between 1 and 3pm.
Can you help - my lawyer advises that lack of building regulations insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Colliers Wood?
The appropriate level of lack of building regulations indemnity insurance should be dictated by who your lender. It would differ for example between Barclays and The Royal Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such insurances.
Intending to buy a apartment in Colliers Wood. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Colliers Wood solicitor is on the Kent Reliance conveyancing panel.
Will my solicitor be raising enquiries regarding flooding during the conveyancing in Colliers Wood.
Flooding is a growing risk for solicitors dealing with homes in Colliers Wood. Some people will acquire a house in Colliers Wood, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, however there are a numerous searches that can be undertaken by the purchaser or by their lawyers which will figure out the risks in Colliers Wood. The conventional set of completed inquiry forms sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual question of the owner to discover if the premises has suffered from flooding. If flooding has previously occurred which is not revealed by the seller, then a purchaser may commence a claim for damages resulting from an inaccurate response. A purchaser’s conveyancers may also order an enviro report. This will indicate whether there is a recorded flood risk. If so, more detailed inquiries will need to be carried out.
4 months have elapsed since my purchase conveyancing in Colliers Wood completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. 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 asset 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.
I am using a search engine for the phrase cheap conveyancing in Colliers Wood it shows results of many conveyancersin the vicinity. How do I determine which is the suitable conveyancer for the sale of my house?
The preferential way of finding a suitable conveyancer is through a personal recommendation, so ask colleagues and those you trust who have bought a property in Colliers Wood or a local estate agent or financial adviser. Fees for conveyancing in Colliers Wood differ, so it's advisable to obtain at least three fee calculations from varying types of conveyancers. Dont forget to clarify what costs in the quote includes.
I am in need of some leasehold conveyancing in Colliers Wood. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Colliers Wood - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a ground floor flat in Colliers Wood. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
if there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to assess the premium.
An example of a Lease Extension matter before the tribunal for a Colliers Wood property is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case related to 1 flat. The unexpired lease term was 62.94 years.