My partner and I are only a couple days away from an exchange on a flat in Halewood and my mum and dad have sent the exchange deposit to my property lawyer. I am now advised that as the deposit has been received from someone other than me my property lawyer needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I informed the bank concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?
The property lawyer is obliged to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
My aunt passed away six months ago and as sole heir and executor I was left the house in Halewood. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this allowed?
Where you plan to refinance then HSBC will insist on your using 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.
If you had a top tip for choosing a conveyancing solicitor in Halewood what would it be?
Do not opt for the cheapest Halewood conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
My wife and I have arranged the release of further funds on our mortgage from HSBC as we intend to conduct alterations to our house in Halewood. Are we obliged to select a local Halewood solicitor on the HSBC conveyancing panel to deal with the paperwork?
HSBC do not ordinarily require firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC list.
The mortgage over my property is with Bank of Ireland for my property in Halewood. Conveyancing was finalised 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
Bank of Ireland must be informed of your intention prior to letting out your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. You need not do this via a Bank of Ireland conveyancing panel lawyer.
I have a terraced Edwardian property in Halewood. Conveyancing lawyer acted for me and Aldermore. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold with the exact same property. Is it worth asking Aldermore to clarify?
You should review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Halewood and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing practitioner who conducted the work.
I have been on the look out for a ground for flat up to £245,000 and identified one close by in Halewood I like with a park and transport links in the vicinity, however it's only got 61 years on the lease. I can't really find anything else in Halewood suitable, so just wondered if I would be making a mistake buying a short lease?
Should you require a home loan the remaining unexpired lease term may be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
How easy is it to transfer to a new conveyancer as I need to choose one who is on the Bank of Scotland conveyancing list. I instructed a local conveyancing solicitor in Halewood round the corner but she is not approved by Bank of Scotland
It would be our pleasure to help you select a conveyancing solicitor in Halewood on the Bank of Scotland panel. Please note that the solicitors that we on the directory do not pay us commission if you instruct them and are under regulation of the SRA who regulate all conveyancing solicitors in Halewood. Using the find a conveyancing solicitor tool on this page, you can contrast fees for conveyancing solicitors in Halewood and beyond.