My grandfather passed away last year and as sole heir and executor I was left the house in St Austell. 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 Leeds Building Society, pay off the mortgage. Is this possible?
Given you intend to re-mortgage then Leeds Building Society will require that you use a conveyancer on the Leeds Building Society 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 Leeds Building Society 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 Leeds Building Society mortgage is registered as a charge at the Land Registry.
A friend pointed out to me me that in buying a property in St Austell there may be various restrictions prohibiting external alterations to the property. Is this right?
There are anumerous of properties in St Austell which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in St Austell should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all St Austell solicitor firms on the Santander conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Santander approved list of solicitors they would need to be regulated by the SRA. The majority of lenders do permit licenced conveyancers on their panel and in such a situation the firms would be overseen by the CLC.
I was told four weeks ago that my mortgage has been agreed to by Virgin Money. Is it usual for Virgin Money to only issue the offer once my solicitor in St Austell is approved on their conveyancing panel? Virgin Money have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Virgin Money to deal with your lawyer's application to be on the Virgin Money conveyancing panel. There's no guarantee that your solicitor will be accepted.
2 months have gone by since my purchase conveyancing in St Austell completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. 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 residence 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.
How does conveyancing in St Austell differ for newly converted properties?
Most buyers of new build or newly converted property in St Austell contact us having been asked by the developer to exchange contracts and commit to the purchase even before the house is built. This is because builders in St Austell typically 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 property lawyers 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 St Austell or who has acted in the same development.
We're first time buyers - had an offer accepted, yet the agent has warned us that the owners will only issue a contract if we instruct their chosen solicitors as they want a ‘quick sale’. My instinct tells me that we should use a family solicitor who is familiar with conveyancing in St Austell
It is unlikely the sellers are behind this. If they desire ‘a quick sale', alienating a motivated buyer is likely to cause more damage than good. Try to communicate with the sellers directly and explain that (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you will continue to use your preferred St Austell conveyancing lawyers - not the ones that will earn the negotiator at the agency a kickback or hit his conveyancing targets pre-set by senior management.
I have recently realised that I have Sixty One years left on my lease in St Austell. I now wish to extend my lease but my freeholder is absent. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you have used your best endeavours to find the lessor. On the whole an enquiry agent would be useful to try and locate and to produce a report which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court covering St Austell.
I invested in buying a ground floor flat in St Austell, conveyancing formalities finalised in 2000. How much will my lease extension cost? Comparable flats in St Austell with over 90 years remaining are worth £175,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ceases on 21st October 2078
With 58 years left to run we estimate the premium for your lease extension to be between £23,800 and £27,400 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.