My grandfather passed away six months ago and as sole heir and executor I was left the property in Parkstone. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Kent Reliance, pay off the mortgage. Is this possible?
Where you intend to refinance then Kent Reliance will require that you use a conveyancer on the Kent Reliance 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 Kent Reliance 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 Kent Reliance mortgage is registered as a charge at the Land Registry.
There are a variety of conveyancing solicitors in Parkstone but how do I know who I should use?
It would be unwise to be tempted by the lowest Parkstone conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I just bought a house at auction in Parkstone. Conveyancing is necessary. What is next?
Having to in every practical sense signed on the dotted line you now have to retain a conveyancing solicitor as a matter of urgency as you are faced with a tight a fixed date to complete the property. An auction property will ordinarily have an associated auction set of papers. This will include most,if not all of the documents that your conveyancer requires. If you have purchased leasehold property the legal pack may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to a leasehold property. You should pass this on to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that your finances are in order to complete the transaction on the set completion date.
I can not work out if my mortgage offer requires a lease extension. I have telephoned my Parkstone bank branch on various occasions and was told it wasn't a problem and they would lend. My Parkstone conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
As long as the solicitor is on the mortgage company panel, they must follow the CML Handbook provisions for the lender. 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
About to purchase a new build apartment in Parkstone. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Parkstone
-
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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 confirm the Lease plans are architect prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I decided to have a survey done on a house in Parkstone prior to instructing conveyancers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some banks will refuse to issue a loan on such a property.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Parkstone. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it simple use the search tool to select a conveyancing solicitor in Parkstone on the authorised to act for my bank?
First choose a lender such as HSBC Bank, Leeds Building Society or Barclays Direct then type in your location such as Parkstone. Conveyancing practices in Parkstone and beyond should be listed.
Estate agents have just been given the go-ahead to market my ground floor flat in Parkstone. Conveyancing has not commenced, however I have recently received a yearly service charge invoice – Do I pay up?
It best that you discharge the maintenance contribution as normal because all ground rent and maintenance charges will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Parkstone Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing
-
What is the name of the managing agents? Please note if it is fewer than 80 years it will impact the value of the apartment. It is worth checking with your bank that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of how much this would cost. Remember, in most cases you will need to own the premises for two years in order to be entitled to exercise a lease extension. How long is the Lease?