My grandfather passed away last year and as sole heir and executor I was left the property in Iver. The house had a small mortgage remaining of approximately £4500. 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.
I am buying my first flat in Iver with the aid of help to buy. The developers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not reveal to my solicitor about this side-deal as it would jeopardize my mortgage 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.
I am looking for a leasehold apartment up to £245,000 and identified one round the corner in Iver I like with amenity areas and railway links nearby, the downside is that it's only got 61 years on the lease. There is not much else in Iver in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan that many years will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
We are 14 days into a leasehold purchase having been directed to conveyancers by the local agent to carry out the conveyancing in Iver. We are not happy. Can you you assist me in finding new conveyancers?
They would have to be really poor to suggest replacing them. Has your mortgage offer been generated? If so you will need to make them aware of the new contact details and get the loan are re-sent. Your solicitor ideally needs to be on the mortgage company approved list to avoid supplemental charges and frustration. So that should be your starting point. Our search tool should assist you in finding a lender approved lawyer for your conveyancing in Iver
I am tempted by the attractive purchase price for a two flats in Iver which have in the region of 50 years remaining on the lease term. Will this present a problem?
There is no doubt about it. A leasehold flat in Iver is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the salability of the property. The majority of purchasers and banks, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Iver conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I inherited a garden flat in Iver. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
You certainly can. We can put you in touch with a Iver conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Iver premises is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case related to 2 flats. The unexpired residue of the current lease was 69 years.
What are my options where I am not happy with the conveyancer who carried out my conveyancing in Iver?
We live in an imperfect world, and unfortunately every so often things do go wrong. That being said there is recourse where you were unhappy with your conveyancing in Iver. This varies from trying to resolve matters directly with them, through to reporting a lawyer to their regulator. If things still aren’t sorted out you may consider enlisting the help of the Legal Ombudsman.