My uncle passed away last year and as sole heir and executor I was left the property in Newark. The house had a small mortgage left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then Coventry BS will insist on your using a conveyancer on the Coventry BS 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 Coventry BS 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 Coventry BS mortgage is registered as a charge at the Land Registry.
I'm the only beneficiary of my late father’s will and I have everything in my name now, including the my former home in Newark. The Newark property was put into my name in January. I want to move. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership could be considered the same way as though I had purchased the house in January. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. How sensible a view mortgage companies take of it, depend on the mortgage company as this provision chiefly exists to pick up on subsales or the flipping of property.
I am currently in the process of buying my council flat in Newark. I have a mortgage offer with UBS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with UBS, you will need to appoint a solicitor on the UBS conveyancing panel.
Our offer on a semi in Newark has been accepted, but there is a chain. The vendors have put an offer on a property, but it’s not yet agreed to, and have viewings of other apartments booked. I have instructed a bricks and mortar conveyancing solicitor in Newark. What should be my next step? When do I get the mortgage application with Clydesdale started?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then survey, Newark conveyancing search charges, etc). The first course of action is to ensure that your conveyancer is on the Clydesdale approved list. Regarding the next phase this very much depends on the uniqueness of your case, desire for the property and on the state of the market. During a buoyant market many buyers would apply for a home loan with Clydesdale and pay for the valuation and only if it comes back ok would they request their conveyancer to press on with searches.
Various internet forums that I have come across warn that are the number one reason for stalling in Newark conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Newark.
What tools are available to identify a Newark law firm on the Barclays conveyancing panel? I have a car and am prepared to travel upto 20kilometers to meet the solicitor.
You can use the facility on this page. Please select a lender and your location and you will see a number of Newark conveyancing lawyers based on proximity. We have detailed some Newark conveyancing firms towards the end of this page and you can telephone them to see if they are on the Barclays approved list
I am using a search engine for the phrase cheap conveyancing in Newark it reveals many solicitorsin the vicinity. How do I determine which is the suitable property lawyer for me?
The preferential way of finding the right conveyancer is via trusted recommendation, so seek the guidance of colleagues and relatives who have purchased a property in Newark or a local estate agent or financial adviser. Costs for conveyancing in Newark differ, so it's sensible to obtain at least four fee calculations from different solicitors. Dont forget to clarify that the costs are assured not to to be inflated.
Last October I purchased a leasehold house in Newark. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Newark Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing
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This question is helpful as a) areas could cause problems in the building as the common areas may start to deteriorate where maintenance are not paid for b) if the tenants have an issue with the running of the building you will wish to have all the details How long is the Lease?