My grandmother passed away 10 months ago and as sole heir and executor I was left the property in Blaenau Ffestiniog. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this allowed?
Where you plan 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.
It has been 2 months since my purchase conveyancing in Blaenau Ffestiniog completed. I have checked the Land Registry site 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 premises 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'm buying a new build house in Blaenau Ffestiniog with a loan from Birmingham Midshires. The builders would not move on the price so I negotiated £7000 of extras instead. The property agent told me not inform my lawyer about this deal as it will adversely affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I'm remortgaging my primary home to a buy to let loan with Lloyds TSB Bank and I will use the rest of the raised equity as a deposit on a second house. The area we are looking at is Blaenau Ffestiniog. 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 site to ensure that the solicitors are on the relevant lender panels. Having checked that they are your conveyancer should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you lawyer and communicate your expectations and needs.
What are the compelling benefits to instructing a local solicitor in Blaenau Ffestiniog
Many purchasers and sellers in Blaenau Ffestiniog prefer a local solicitor so that they can pop into the lawyer’s offices just in case they have problems, and to collect documents without using the Royal Mail.
One could argue that there is a distinct benefit in selecting a conveyancing practitioner nearby to a property you are purchasing, due to the knowledge of the area and possible local issues - yet this is debatable. Many conveyancers are now through email and could be practically anywhere.