My uncle passed away last year and as sole heir and executor I was left the house in Dickens Heath. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Co-operative, pay off the mortgage. Is this allowed?
If you plan to re-mortgage 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.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Dickens Heath?
There are two types of lawyers who can carry out conveyancing in Dickens Heath namely CLC regulated conveyancers or solicitors. The two can handle conveyancing services that required to complete the disposal or acquisition of property. Both are obliged to handle Dickens Heath conveyancing to the same standards and guidelines so you may be sure that your conveyancing will be professionally carried out and that the necessary procedures should be appropriately adhered to.
I have been told by my conveyancer that restrictive coveneant insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Dickens Heath?
The right level of restrictive coveneant indemnity insurance depends on your lender. It would differ for example between Nationwide Building Society and Virgin Money. Conveyancing practitioners as opposed to borrowers take out such policies.
It is unclear whether my lender requires a lease extension. I have called my Dickens Heath bank branch on numerous occasions and was told it does not impact the mortgage offer and they would lend. My Dickens Heath conveyancing solicitor - who is on the lender conveyancing panel- called to say that they will not lend in accordance with their published requirements. I simply don't know who is right.
Provided that the solicitor is on the lender panel, she or he must comply with the Council of Mortgage Lenders’ Handbook conditions for the 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 remaining.
What does a local search reveal regarding the house my wife and I buying in Dickens Heath?
Dickens Heath conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance Xpress Legal The local search is essential in every Dickens Heath conveyancing purchase; as long as you don’t want any nasty once you have moved into your new home. The search will reveal 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 thirteen topic sections.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Dickens Heath?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Dickens Heath. 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…’
I was pointed in your direction by numerous selling agents in Dickens Heath to find a conveyancer on your site. What’s the financial upside for Estate Agents to market your lawyers rather than alternative conveyancing organisations?
We don’t give any referral fee for directing people in our direction. We found it would be just too difficult to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.