My grandmother passed away six months ago and as sole heir and executor I was left the property in Hawkshead. The house had a small mortgage left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Leeds Building Society, pay off the mortgage. Is this allowed?
Given you plan to refinance then Leeds Building Society will require that you use a conveyancer on the Leeds Building Society 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 Leeds Building Society 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 Leeds Building Society mortgage is registered as a charge at the Land Registry.
Various web forums that I have visited warn that are the number one reason for hinderance in Hawkshead conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of holding up conveyancing in Hawkshead.
I am buying a new build apartment in Hawkshead. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Hawkshead
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
Hoping to buy a property located in Hawkshead and I am already nervous. I couldn't find anything specific about Hawkshead. Conveyancing will be needed in due course but do you know about the Hawkshead area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Hawkshead. In the meantime here are some basic statistics that we found
Am I best advised to choose a Hawkshead conveyancing practitioner who is local to the property I am purchasing? We have a good friend who can deal with the legal work but her office is 300kilometers away.
The benefit of a local Hawkshead conveyancing firm is that you can attend the office to execute paperwork, hand in your ID and pester them if necessary. They will also have local insight which is a benefit. That being said it's more important to get someone that will do a good and efficient job. If you know people who used your friend and they were impressed that must surpass using an unfamiliar Hawkshead conveyancing solicitor just because they are Hawkshead based.
I am a negotiator for a busy estate agent office in Hawkshead where we have witnessed a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Hawkshead conveyancing solicitors. Could you clarify whether the vendor of a flat can start the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-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 needs to be completed before, or simultaneously with 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.
Leasehold Conveyancing in Hawkshead - Examples of Questions you should ask Prior to Purchasing
What is the name of the managing agents? It is important to be aware whether fixing the lift or some other major work is coming up to be shared amongst the leasehold owners and will materially impact the level of the service charges or result in a specific invoice.