How up to date is your search tool for Cottesmore conveyancing solicitors on the RBS conveyancing panel? Do RBS send you an updated list?
Cottesmore conveyancing firms themselves provide us confirmation that they are on the RBS conveyancing panel as opposed to being supplied with a list from RBS directly.
My grandfather passed away six months ago and as sole heir and executor I was left the house in Cottesmore. The house had a small mortgage left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Clydesdale, pay off the mortgage. Is this possible?
If you plan to refinance then Clydesdale will insist on your using a conveyancer on the Clydesdale 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 Clydesdale 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 Clydesdale mortgage is registered as a charge at the Land Registry.
How does conveyancing in Cottesmore differ for new build properties?
Most buyers of new build or newly converted property in Cottesmore approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is constructed. This is because developers in Cottesmore usually buy 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 conveyancers 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 Cottesmore or who has acted in the same development.
I have been on the look out for a flat up to £245,000 and found one round the corner in Cottesmore I like with open areas and station in the vicinity, the downside is that it only has 51 years unexpired on the lease. There is not much else in Cottesmore for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
Am I right to be concerned that brokers that I am dealing with are suggesting a national conveyancing firm rather than a local Cottesmore conveyancing company?
As with many professional services, often recommendations from connections can be most helpful. Yet there are lots of players in a conveyancing deal; estate agents, mortgage brokers and mortgage companies may put forward solicitors to appoint. Sometimes the lawyers might be known to one of the organisations as one of the best in their field, but occasionally there exists a commercial relationship behind the endorsement. You have the discretion to choose your preferred conveyancer. You need to be aware that some banks operate an approved list of conveyancers you are obliged to use for the lender aspect of your conveyancing.
I have just had an offer accepted on a leasehold flat in Cottesmore and the estate agent that we are using recommended his lawyer. He quoted £1000 including VAT and 3rd party costs. Does this sound reasonable?
Don't just go on a single quote. One should obtain like-for-like quotes for your conveyancing in Cottesmore. Then choose one that you trust and just as important, is on the approved panel of the lender that you have applied for a mortgage from.