Why is leasehold purchase conveyancing in Alvaston costs more?
Alvaston leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My grandmother passed away six months ago and as sole heir and executor I was left the property in Alvaston. The house had a small mortgage remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this possible?
Where you intend to refinance then HSBC will require that you use a conveyancer on the HSBC 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 HSBC 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 HSBC mortgage is registered as a charge at the Land Registry.
It has been three months since my purchase conveyancing in Alvaston completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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 property 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 have been on the look out for a leasehold apartment up to £235,500 and found one near me in Alvaston I like with open areas and station nearby, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Alvaston for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage that many years may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
My husband and I are one month into a leasehold purchase having been recommend to solicitors by the local agent to carry out the conveyancing in Alvaston. I am am starting to be dissatisfied with the level of service. Could you you assist me in finding new solicitors?
They would have to be very bad to suggest changing them. Has the loan offer been issued? If so you will need to inform them of the new contact details and get the mortgage documents are issued to the new lawyers. Your new conveyancer should be on the banks panel to avoid escalating fees and delays. So that should be your starting point. The search tool can assist you in finding a bank approved solicitor for your conveyancing in Alvaston