My uncle passed away six months ago and as sole heir and executor I was left the property in Rhosllanerchrugog. The house had a small mortgage left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this possible?
If you plan to re-mortgage then RBS will insist on your using a conveyancer on the RBS 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 RBS 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 RBS mortgage is registered as a charge at the Land Registry.
It has been four months following my purchase conveyancing in Rhosllanerchrugog concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying my first flat in Rhosllanerchrugog with a loan from Lloyds TSB Bank. The developers would not reduce the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not disclose to my lawyer about this extras as it may jeopardize my mortgage with the bank. Is this normal?.
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 flat up to £305k and identified one round the corner in Rhosllanerchrugog I like with amenity areas and station in the vicinity, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Rhosllanerchrugog in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the remaining unexpired lease term will likely be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
My company is intending to lease a unit on a shopping parade. Can you recommend conveyancers offering fixed fees for commercial conveyancing in Rhosllanerchrugog for less than 1500k?
We can recommend firms who host a wealth of experience of commercial conveyancing in Rhosllanerchrugog, including the disposal and purchase of businesses as well as simply property. If you are looking to buy or sell a shop, pub, restaurant, office, retail premises or a whole business we will put you in touch with the right solicitor. Regarding the fees these will vary based on the structure and nuances of the deal. Please provide us with your contact information or telephone us so that we can provide you with comprehensive commercial conveyancing calculation.
Back In 2008, I bought a leasehold house in Rhosllanerchrugog. Conveyancing and Barnsley Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Rhosllanerchrugog who acted for me is not around. Do I pay?
First make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Rhosllanerchrugog conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a 1 bedroom flat in Rhosllanerchrugog, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Rhosllanerchrugog with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease expires on 21st October 2083
With just 58 years left to run we estimate the price of your lease extension to be between £22,800 and £26,400 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.