My uncle passed away 10 months ago and as sole heir and executor I was left the house in Grenoside. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to UBS, pay off the mortgage. Is this allowed?
Where you plan to refinance then UBS will insist on your using a conveyancer on the UBS 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 UBS 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 UBS mortgage is registered as a charge at the Land Registry.
I own a terraced Edwardian house in Grenoside. Conveyancing lawyer represented me and Barclays . I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold under the matching address. Is it worth asking Barclays to clarify?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Grenoside and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing solicitor who conducted the conveyancing.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one near me in Grenoside I like with amenity areas and transport links nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Grenoside suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the shortness of the lease will likely be a potential deal breaker. Discount the offer 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 can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
We are 14 days into a freehold purchase having been recommend to solicitors by the local agent to carry out the conveyancing in Grenoside. We are not happy. Could you you assist me in finding new solicitors?
A solicitor would need to be very bad to suggest diss instructing them. Has the loan offer been generated? If so you will need to inform them of the new contact details and have the loan are re-issued. The conveyancer should be on the lenders panel to avoid supplemental expenses and complications. That should be your starting point. The find a solicitor tool will help you find a bank approved solicitor for your conveyancing in Grenoside
Having had my offer accepted I require leasehold conveyancing in Grenoside. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in Grenoside - then the leasehold title will always include the short particulars 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 acquired a 1 bedroom flat in Grenoside, conveyancing was carried out 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Grenoside with a long lease are worth £260,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ends on 21st October 2098
With only 74 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.
We have chosen a Grenoside conveyancing solicitor for our home move (FTB’s) and have picked up in the Ts and Cs that they are not regulated by the FCA. Am I right to be worried or is that usually the case with solicitor?
We can't see why they should be. Most conveyancing practitioner don't lend money. They will be regulated by the Solicitors Regulation Authority, who dictate specific laws in place on funds sitting by them.