My grandmother passed away 10 months ago and as sole heir and executor I was left the property in Kennington. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Skipton, pay off the mortgage. Is this allowed?
Given you intend to refinance then Skipton will require that you use a conveyancer on the Skipton 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 Skipton 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 Skipton mortgage is registered as a charge at the Land Registry.
Is it the case that all Kennington CQS (Conveyancing Quality Scheme) solicitors are on the UBS conveyancing list of approved practices?
A selection of banks and building societies now make use of CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
We previously appointed conveyancers located in Kennington on the Yorkshire BS solicitor approved list. They are now charging me a separate fee for the legal aspects of the Yorkshire BS mortgage. Is this a supplemental conveyancing fee set by Yorkshire BS?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your conveyancing practitioner may charge a fee for this. The charge is not dictated by Yorkshire BS but by your Kennington lawyer. Some firms on the Yorkshire BS panel will charge ’dealing with mortgage’ fee but some practices incorporate it on their overall fee.
Principality have agreed my mortgage in principle, my offer on a flat in Kennington has been accepted, now what?
Your estate agent will wish to be advised as to your property lawyer's details (ensure that the solicitors are on the lender’s approved list). Telephone Principality or the financial adviser and finish off any appropriate forms. Principality will appoint a valuer who will get in contact with the selling agent or vendor to book a time for the valuation to occur. Once conducted (assuming no problems) it takes approximately a week to get a mortgage offer. Principality will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Kennington.
I need some fast conveyancing in Kennington as I have pressure to exchange contracts in less than 4 weeks. A mortgage is not required. Can I decline from having conveyancing searches to save fees and time?
If.Given you are not taking a home loan you are at free not to do searches although no solicitor would suggest that you don't. With lots of history conveyancing in Kennington the following are instances of issues that can appear and therefore affect future mortgageability: Enforcement Actions, Overdue Charges, Outstanding Grants, Road Schemes,...
We're FTB’s - agreed a price, yet the estate agent told us that the seller will only issue a contract if we appoint the agent's recommended conveyancers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a high street conveyancer who is accustomed to conveyancing in Kennington
It is improbable the vendors are driving this. Should the seller want ‘a quick sale', alienating a motivated buyer is is going to put the whole deal at risk. Try to communicate with the owners directly and make the point that (a)you are serious buyers (b)you are ready to go, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)but you intend to appoint your preferred Kennington conveyancing lawyers - rather thanthose that will provide the estate agent a referral fee or hit his conveyancing thresholds demanded by senior management.
I am tempted by the attractive purchase price for a two flats in Kennington both have about forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a period of time. As the lease shortens the value of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field.
I am the leaseholder of a ground flat in Kennington. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
Where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to assess the price.
An example of a Lease Extension case for a Kennington residence is Ground Floor Flat 39 Bronsart Road in May 2010. Following a vesting order by West London County Court the Leasehold Valuation Tribunal concluded that the price to be paid for the extended lease of the premises was Thirteen Thousand Two hundred pounds (£13,200) in accordance with the valuation. The extended lease was granted for a term of 90 years from the expiry date of the Lease and at a peppercorn ground rent from the date of the vesting order. This case affected 1 flat. The unexpired term was 74.77 years.
What is the reason for my lawyer requiring numerous items of identification ahead of starting my conveyancing in Kennington?
Kennington conveyancers are required by the Law Society, SRA, HM Land Registry and current Money Laundering Regulations to record that the have verified the identity of their clients. It will also be a condition of your lender if you are obtaining a mortgage. In addition they have to complete various forms, particularly those relating to stamp duty land tax and need to have details such as your full names, national insurance number and DOB.