My uncle passed away six months ago and as sole heir and executor I was left the property in Northampton. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this allowed?
If you intend to refinance then Nottingham will require that you use a conveyancer on the Nottingham 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 Nottingham 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 Nottingham mortgage is registered as a charge at the Land Registry.
My conveyancer has informed me that lack of planning permission insurance is required on my purchase. What is the level of cover for Northampton conveyancing?
The right level of lack of planning permission indemnity insurance should be dictated by who your lender. It would differ for example between HSBC Bank and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Northampton building society branch on numerous occasions and was told it does not affect the mortgage offer and they would lend. My Northampton conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your lawyer must comply with the Council of Mortgage Lenders’ Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Having digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Northampton solicitor - who is on the UBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Northampton surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Do commercial conveyancing searches reveal proposed roadworks that could affect a commercial land in Northampton?
Many commercial conveyancing solicitors in Northampton will order a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Northampton. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Northampton.
For every commercial conveyancing transaction in Northampton it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Northampton commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Northampton.
How does conveyancing in Northampton differ for newly converted properties?
Most buyers of new build premises in Northampton contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is completed. This is because house builders in Northampton tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Northampton or who has acted in the same development.
My step-father has suggested that I instruct his conveyancing solicitors in Northampton. Should I find my own property lawyer?
There are no two ways about it the best way to choose a conveyancing practitioner is to seek feedback from friends or relatives who have actually used the firm you're contemplating using.
What makes a Northampton lease problematic?
There is nothing unique about leasehold conveyancing in Northampton. Most leases are unique and legal mistakes in the legal wording can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
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A duty to insure the building Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Coventry Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.
Northampton Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
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What restrictions are contained in the Northampton Lease? Be sure to find out if there is anything that is prohibited in the lease. For example it is very common in Northampton leases that pets are not permitted in certain buildings in Northampton. If you like the flatin Northampton but your dog can’t make the move with you then you will be faced difficult choice. The best form of lease arrangement is where the freehold reversion is in the ownership of the leaseholders. In this situation the lessees have control and even though a managing agent is frequently employed where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.