My grandfather passed away six months ago and as sole heir and executor I was left the house in Deganwy. 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 Coventry BS, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then Coventry BS will require that you use a conveyancer on the Coventry BS 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 Coventry BS 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 Coventry BS mortgage is registered as a charge at the Land Registry.
When it comes to mortgage companies such as Bank of Ireland, do Deganwy property lawyers have to pay a fee to be on the list of approved solicitors?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
I am due to exchange contracts on my apartment. I had a double glazing fitted in February 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, UBS are being problematic. The Deganwy solicitor who is on the UBS conveyancing panel is recommending indemnity insurance as a solution but UBS are insisting on a building regulation certificate. Why do UBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that UBS have referred the matter to their valuer. The reason why UBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My offer on a detached house in Deganwy has been accepted, but there is a chain. The vendors have offered on a property, but it’s not yet tied up, and are looking at other apartments booked. I have instructed a high street conveyancing solicitor in Deganwy. What should be my next step? When do I get the mortgage application with Barclays going?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of £1k, then survey, Deganwy conveyancing search charges, etc). First, you should ensure that your conveyancer is on the Barclays approved list. Regarding the subsequent phase this very much dictated by the specifics of your transaction, desire for this property and on the state of the market. During a buoyant market many purchasers would apply for the mortgage with Barclays and pay for the valuation and only if it comes back ok would they ask their lawyer to proceed with searches.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Deganwy is the location of the property. Is there any guidance you can give?
Flying freeholds in Deganwy are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Deganwy you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Deganwy may decide 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 property.
I'm refinancing my existing property to a buy to let loan with Alliance & Leicester and I will use the rest of the raised equity towards further property. The location we are interested in is Deganwy. Will your lawyers be able to act for the two banks and tie in the two deals?
Do use our comparison tool on this page to ensure that the conveyancers are approved by both banks. Assuming that they are the solicitor should be able to tie up the two transactions but you should have a chat with you lawyer and make clear your desired outcome and requirements.
I am on look out for some leasehold conveyancing in Deganwy. Before I get started I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in Deganwy - then the leasehold title will always include the basic details 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 bought a basement flat in Deganwy, conveyancing formalities finalised 8 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Deganwy with a long lease are worth £202,000. The ground rent is £60 invoiced annually. The lease ends on 21st October 2080
With 57 years unexpired the likely cost is going to range between £28,500 and £33,000 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do 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. Please do not move forward placing reliance on this information before getting professional advice.
What can I expect to pay for conveyancing in Deganwy?
The total sum charged for Deganwy conveyancing costs will vary considerably from lawyer to lawyer. In the circumstances it all the more important that you have a full breakdown of charges when you first choose a conveyancer. One should always seek a few fee estimate.