My uncle passed away 10 months ago and as sole heir and executor I was left the property in Shrewton. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Nationwide, pay off the mortgage. Is this allowed?
Where you intend to re-mortgage then Nationwide will require that you use a conveyancer on the Nationwide 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 Nationwide 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 Nationwide mortgage is registered as a charge at the Land Registry.
My husband and I have arranged the release of further funds on our home loan from UBS as we want to conduct a loft conversion to our property in Shrewton. Do we need to select a nearby Shrewton solicitor on the UBS conveyancing panel to handle the paperwork?
UBS do not ordinarily appoint a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS list.
We have agreed to purchase a house in Shrewton. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Yorkshire BS be concerned?
Given that you are obtaining a mortgage with Yorkshire BS your lawyer must check the conveyancing requirements outlined in Part two of UK Finance Lenders’ Handbook for Yorkshire BS. The CML Handbook contains minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Yorkshire BS where a lease does not satisfy these requirements. The conditions relate to the installation of panels on properties in England and Wales and is not isolated to Shrewton.
I'm at the point of viewing houses in Shrewton and I am about to put in an offer. Is it too early to have a solicitor in place? I am planning to take a mortgage with Skipton.
It would be sensible to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. As you are taking out a mortgage with Skipton, make sure you remember to check that your lawyer is on the Skipton conveyancing panel.
Should commercial conveyancing searches disclose proposed roadworks that may affect a commercial premises in Shrewton?
Many commercial conveyancing solicitors in Shrewton will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Shrewton. The search result provides 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 Shrewton.
For every commercial conveyancing transaction in Shrewton it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can cause delays to Shrewton commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Shrewton.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Shrewton?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Shrewton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm refinancing my current home to a buy to let mortgage with Nationwide Building Society and intend to use the remaining equity as a deposit on a second house. The neighborhood we are looking at is Shrewton. Will your lawyers be able to act for both sets of mortgage companies and tie in the transactions?
Make use of our search tool on this page to ensure that the lawyers are approved by both mortgage companies. Assuming that they are the conveyancer should be able to simultaneously deal with the two deals but you should have a chat with you solicitor and make clear your desired outcome and requirements.
I am looking at a two flats in Shrewton which have approximately 50 years remaining on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in Shrewton is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and lenders, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Shrewton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in Shrewton - A selection of Questions you should consider Prior to Purchasing
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How many years remain on the lease? Is the freehold owned jointly by the leaseholders? Is anyone aware of any major works anticipated that could add a premium to the maintenance charges?