My grandmother passed away last year and as sole heir and executor I was left the property in Treorchy. 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 Lloyds, pay off the mortgage. Is this possible?
If you plan to re-mortgage then Lloyds will insist on your using a conveyancer on the Lloyds 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 Lloyds 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 Lloyds mortgage is registered as a charge at the Land Registry.
I have been advised by my conveyancer that chancel insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Treorchy?
The right level of chancel indemnity insurance depends on your lender. It would differ for example between Halifax and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
We are getting the release of further funds on our mortgage from Nationwide as we want to conduct renovations to our property in Treorchy. Are we obliged to appoint a nearby Treorchy solicitor on the Nationwide conveyancing panel to handle the legals?
Nationwide would not normally instruct firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide panel.
I had a mortgage agreed in principle with Kent Reliance. Treorchy conveyancing solicitors were appointed. How long does it take for Kent Reliance to send the offer to the conveyancing practitioner?
There is no definitive answer here. Have Kent Reliance done the valuation? Have you informed Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
What does a local search tell me concerning the property my wife and I buying in Treorchy?
Treorchy conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search company for instance Searches UK The local search is essential in every Treorchy conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search will supply data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
Are there restrictive covenants that are commonly identified during conveyancing in Treorchy?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Treorchy. 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…’
Is it possible to change conveyancer as I need to select one who is on the Nationwide Building Society conveyancing panel. I instructed a local conveyancing solicitor in Treorchy round the corner but he is not approved by Nationwide Building Society
We will our best to assist in finding you a conveyancing solicitor in Treorchy on the Nationwide Building Society panel. Please note that the law firms that we work with do not pay us fee if you instruct them and are registered with the Solicitors Regulation Authority who oversee all conveyancing solicitors in Treorchy. Using the find a conveyancing solicitor tool on this page, you can scrutinise charges for conveyancing solicitors in Treorchy and beyond.
I am looking at a two apartments in Treorchy which have in the region of fifty years remaining on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Treorchy. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena.
Leasehold Conveyancing in Treorchy - A selection of Questions you should consider before Purchasing
-
Is anyone aware of any major works on the horizon that will likely add a premium to the service costs? How long is the Lease? Does the lease include onerous restrictions?