My grandfather passed away last year and as sole heir and executor I was left the property in Enfield Lock. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Skipton, pay off the mortgage. Is this allowed?
Where you plan to re-mortgage then Skipton will insist on your using a conveyancer on the Skipton 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 Skipton 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 Skipton mortgage is registered as a charge at the Land Registry.
I have been told by my conveyancer that lack of building regulations insurance is needed on my purchase. What is the level of cover for Enfield Lock conveyancing?
The right level of lack of building regulations indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and Chelsea Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
We previously instructed conveyancers locally in Enfield Lock on the UBS solicitor panel. They are now charging me a further amount for the legal aspects of the UBS mortgage. Is this an additional conveyancing fee specified by UBS?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your lawyer may levy a fee for this. The fee is not dictated by UBS but by your Enfield Lock lawyer. Some firms on the UBS panel will quote ’dealing with mortgage’ fee and others do not.
We expect to receive a DIP from Lloyds this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Lloyds recommend any Enfield Lock solicitors on the Lloyds conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Enfield Lock solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
I am buying my first flat in Enfield Lock with a mortgage from HSBC Bank. The builders would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not reveal to my solicitor about this side-deal as it would put at risk my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one near me in Enfield Lock I like with amenity areas and transport links in the vicinity, the downside is that it's only got 52 years on the lease. I can't really find anything else in Enfield Lock in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage that many years may be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
How do I use the search app to choose a conveyancing lawyer in Enfield Lock on the panel for my bank?
Step one is to pick a mortgage company such as Barclays , Leeds Building Society or Bank of Ireland then choose your location a common one being Enfield Lock. Conveyancing firms in Enfield Lock and further afield will then be identified.
I pay a service charge for my flat in Enfield Lock. Due to losing my job and personal issues I fell behind with payments. The management company agreed a settlement plan but there is still about £2000 left in arrears.
I am under pressure to dispose of the property and I am nervous that this may jeopardize the sale if I have to settle the amount due first. Do I have to settle before - is this practicable?
Do clarify with the lawyer carrying out your Enfield Lock conveyancing but one option may be to arrange for the arrears to be transferred to the buyers. The final price due would be reduced to reflect the amount of debt they assume. They would then discharge the fees once they are the owners.