My grandfather passed away six months ago and as sole heir and executor I was left the house in Derby. The house had a small mortgage left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this allowed?
If you plan to refinance then HSBC will require that you use 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.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Derby?
Two types of professional can perform conveyancing in Derby namely CLC regulated conveyancers or solicitors. The two can provide the legal services that required to complete the sale or acquisition of property. They are both duty bound to carry out Derby conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be professionally carried out and that all requisite steps should be suitably followed.
We are purchasing a end of terrace house in Derby. The intention is to convert the garage to a playroom at the house.Will the conveyancing process include enquiries to see if these works are allowed?
Your solicitor should review the deeds as conveyancing in Derby can occasionally reveal restrictions in the title documents which restrict categories of alterations or need the consent of another owner. Certain works need local authority planning consent and approval in compliance with building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor before you commit yourself to a purchase.
I am due to exchange contracts on my flat. I had a double glazing fitted in October 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Bank of Ireland are being problematic. The Derby solicitor who is on the Bank of Ireland conveyancing panel is saying indemnity insurance will be fine but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland 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.
The deeds to my property are lost. The conveyancers who dealt with the conveyancing in Derby 10 years ago have long since closed. What are my options?
Assuming the title is registered the details of your ownership will be recorded by HMLR with a Title Number. It is possible to perform a search at the Land Registry, find your property and obtain up to date copies of the property title for less than a fiver. Where the property is Leasehold then the Land Registry will also normally retain a file copy of the Registered Lease and again, a copy can be ordered for £20 inclusive of VAT.
I am purchasing a new build house in Derby with a mortgage from Accord Mortgages Ltd. The developers refused to reduce the price so I negotiated £7000 of extras instead. The estate agent told me not reveal to my lawyer about this side-deal as it could put at risk my loan with Accord Mortgages Ltd. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
We're novice buyers - had an offer accepted, yet the property agent informed us that the vendor will only issue a contract if we use their chosen lawyers as they want an ‘expedited deal’. My instinct tells me that we should use a local solicitor used to conveyancing in Derby
We suspect that the owner is unaware of this requirement. Should the seller want ‘a quick sale', turning down a genuine buyer is going to damage their objectives. Speak to the vendors direct and explain that (a)you are motivated buyers (b)you are excited to move forward, with finances in place © you are unencumbered (d) you intend to proceed fast (e)but you are going to use your own,trusted Derby conveyancing firm - not the ones that will give their negotiator at the agency a introducer fee or achieve conveyancing thresholds set by senior management.
I am a negotiator for a long established estate agent office in Derby where we see a few leasehold sales derailed due to short leases. I have received contradictory information from local Derby conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can initiate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Derby Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying
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Where a Derby lease has no more than 80 years it will affect the value of the flat. It is worth checking with your lender that they are happy with the length of the lease. Leases with less than 80 years remaining means that you will probably require a lease extension at some point and it is worth discovering what this will be. For most Derbylease extensions you would be required to have owned the residence for a couple of years in order to be entitled to carry out a lease extension. Most Derby leasehold flats will be liable to pay a service charge for the upkeep of the block invoiced by the landlord. Should you acquire the property you will have to meet this contribution, normally in instalments during the year. This can differ from a few hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. There will also be a rentcharge for you to pay yearly, this is usually not a significant figure, say about £50-£100 but you need to check it because sometimes it can be prohibitively expensive.