I can't travel far from Grahame Park. Please explain the reason why all Grahame Park conveyancers are not on all mortgage company panels?
A decade ago most lenders had an approach to risk which differs from the current day. The Financial Services Authority in 2010 conducted a thematic review into fraud which in summary warned lenders: know the lawyers on your panel. As a result, mortgage companies have subsequently looked to extract more data from law firms about their processes and the staff employed by them and set certain criteria such as completing a minimum number of transactions. Thousands of firms have found themselves excluded from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to meet the criteria of amount of transactions the lenders set.
My aunt passed away 10 months ago and as sole heir and executor I was left the property in Grahame Park. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Santander, pay off the mortgage. Is this possible?
If you intend to refinance then Santander will insist on your using a conveyancer on the Santander 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 Santander 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 Santander mortgage is registered as a charge at the Land Registry.
Various internet forums that I have come across warn that are the primary cause of delay in Grahame Park conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Grahame Park.
Due to the encouragement of my in-laws I had a survey completed on a house in Grahame Park ahead of instructing conveyancers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some lenders tend not issue a loan on this type of property.
It depends who your proposed lender is. HSBC has different requirements for example to Nationwide. If you call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Grahame Park. Conveyancing may be slightly more expensive based on your lender's requirements.
My brother has urged me to instruct his lawyers for conveyancing in Grahame Park. Do I take his advice?
No doubt the ideal way to select a conveyancing practitioner is to have guidance from friends or relatives who have previously instructed the firm that you are contemplating using.
My in 2007. He has been married, widowed and in recent months got remarried. He now wishes to the sell the Grahame Park property. I suspect that he will simply be need to provide a copy of his marriage certificates to the lawyer but he is worried it will delay the sale of the apartment. Is it worth updating the title details for the property?
It is not absolutely necessary to update the register on the basis that you have the proof needed to show how the change of name occurred.
Any buyer’s solicitor should examine the registered details and require evidence to establish the name change for example marriage certificates.