My grandfather passed away 10 months ago and as sole heir and executor I was left the house in Codsall. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Co-operative, pay off the mortgage. Is this allowed?
Given you intend to refinance then Co-operative will insist on your using a conveyancer on the Co-operative 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 Co-operative 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 Co-operative mortgage is registered as a charge at the Land Registry.
I am assisting my step-mother sell her property in Codsall. Does the solicitor commission an EPC or should I organise this?
After the abolition of HIPs, energy assessments was maintained a compulsory component of selling a property. An EPC must be commissioned before the property is placed on the market. It is not a task that conveyancers ordinarily arrange. If you are instructing a Codsall conveyancing lawyer they might be willing to arrange energy assessments due to their contacts with long established Codsall energy assessors
My fiancee and I are in the throws of viewing apartments in Codsall and I am now considering a potential offer. Should I already have a conveyancing practitioner in place at this point? I am planning to take a home loan with Principality.
It would be advisable to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are taking out a mortgage with Principality, ask your prospective lawyers if they are on the Principality conveyancing panel otherwise they can't do the mortgage legal work.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Codsall bank branch on a couple of occasions and was told they are content with the situation and they would lend. My Codsall conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. Who do I believe?
Your solicitor must follow the CML Handbook section two conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a simple, no chain conveyancing. Codsall is where the house is located. What do you suggest?
Flying freeholds in Codsall are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Codsall you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Codsall may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Am I best advised to go with a Codsall conveyancing lawyer based in the area that I am purchasing? We have a good friend who can perform the conveyancing but her office is 300kilometers drive away.
The primary upside of using a high street Codsall conveyancing firm is that you can visit the firm to sign documents, present your identification documents and pester them if necessary. Having local Codsall know how is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and in the main were impressed that must surpass using an unknown Codsall conveyancing solicitor just because they are round the corner.
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Codsall. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Codsall ?
Most houses in Codsall are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can assist with the conveyancing process. We note that you are buying in Codsall so you should seriously consider looking for a Codsall conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will report to you on the legal implications.
I acquired a split level flat in Codsall, conveyancing was carried out 4 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Codsall with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2090
With just 71 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.