My grandfather passed away 10 months ago and as sole heir and executor I was left the property in Burnt Oak. The house had a small mortgage left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Santander, pay off the mortgage. Is this allowed?
Given you intend to re-mortgage then Santander will insist on your using a conveyancer on the Santander 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 Santander 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 Santander mortgage is registered as a charge at the Land Registry.
Are there restrictive covenants that are commonly identified during conveyancing in Burnt Oak?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Burnt Oak. 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…’
How does conveyancing in Burnt Oak differ for newly converted properties?
Most buyers of new build or newly converted property in Burnt Oak contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Burnt Oak usually acquire the site, 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 conveyancing solicitors 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 used to new build conveyancing in Burnt Oak or who has acted in the same development.
I have been on the look out for a flat up to £305k and found one close by in Burnt Oak I like with a park and railway links in the vicinity, however it only has 49 remaining years left on the lease. I can't really find anything else in Burnt Oak suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan that many years will likely be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I am using a search engine for the term conveyancing in Burnt Oak it shows results of numerous property lawyersin the vicinity. With so much choice what is the best way to find the suitable conveyancer for purchase transaction?
The best way of seeking a suitable conveyancer is through a personal testimonial, so ask friends and relatives who have purchased a property in Burnt Oak or the respected estate agent or mortgage broker. Fees for conveyancing in Burnt Oak vary, so it's sensible to secure a minimum of four quotes from varying types of companies. Dont forget to clarify that the fees are fixed.