My grandmother passed away 10 months ago and as sole heir and executor I was left the house in Toton. The house had a small mortgage left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this allowed?
Given you intend to re-mortgage then Virgin Money will insist on your using a conveyancer on the Virgin Money 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 Virgin Money 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 Virgin Money mortgage is registered as a charge at the Land Registry.
I have been told that property searches are the main cause of delay in Toton conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays in the conveyancing process. Local searches are not likely to be the root cause of slowing down conveyancing in Toton.
Due to the guidance of my in-laws I had a survey completed on a house in Toton in advance of instructing solicitors. I have been advised that there is a flying freehold aspect to the house. My surveyor has said that some mortgage companies will refuse to grant a loan on a flying freehold premises.
It varies from the lender to lender. HSBC has different requirements from Halifax. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Toton. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I are one month into a leasehold purchase having been referred to a firm by the estate agent to handle our conveyancing in Toton. We are not happy. Could you you assist me in finding new lawyers?
They would have to be very poor in order to consider diss instructing them. Has your loan offer been issued? If so you need to advise them of the new contact details and get the offer are re-sent. Your solicitor ideally should be on the banks panel to avoid supplemental expenses and frustration. That should be your first question of the new lawyers. The search tool should assist you in finding a bank approved conveyancer for your home move in Toton
Do you have any advice for leasehold conveyancing in Toton with the aim of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Toton can be avoided where you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the purchasers’ solicitors. If you hold a share in a the freehold, you should make sure that you hold the original share document. Organising a replacement share certificate is often a time consuming process and frustrates many a Toton home move. If a duplicate share certificate is needed, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later. You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. It is therefore essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Toton leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such works. Where you fail to have the consents to hand do not communicate with the landlord without checking with your solicitor first. If you have had any disputes with your landlord or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to unsettled.
Toton Leasehold Conveyancing - A selection of Questions you should consider before Purchasing
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It is important to be aware whether fixing the lift or some other significant cost is pending that will be shared amongst the leasehold owners and could well dramatically impact the level of the maintenance charges or result in a specific invoice. What is the annual service fee and ground rent? It would be prudent to find out if the the lease contains any onerous restrictions in the lease. By way of example it is very common in Toton leases that pets are not permitted in in a block in Toton. If you like the propertyin Toton but your cat is not allowed to move with you then you have a very hard determination.
Our sealed bid on semi in Toton was agreed to, the seller does nevertheless have a connected purchase. The current proprietors have offered on a property, but it’s not yet tied up, and has viewings of other properties in the pipeline. I have selected a local conveyancing solicitor in Toton. What should be my next step? When do I get the mortgage application with Virgin Money started with Virgin Money?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then valuation, Toton conveyancing search fees, etc). First, you must check that your solicitor is on the Virgin Money conveyancing panel. Concerning the next stages this very much dictated by the circumstances of your transaction, desire for the property and on the state of the market. During a hot market some purchasers will apply for a home loan with Virgin Money and arrange for the valuation and only if it comes back ok would they pay their conveyancing practitioner to move forward with the conveyancing in Toton.