My uncle passed away 10 months ago and as sole heir and executor I was left the house in Ely. The house had a relatively small loan remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to TSB, pay off the mortgage. Is this possible?
If you intend to re-mortgage then TSB will require that you use a conveyancer on the TSB 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 TSB 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 TSB mortgage is registered as a charge at the Land Registry.
Is it the case that all Ely conveyancing solicitors on the Skipton conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Skipton approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many lenders do permit licenced conveyancers on their panel and in such a situation the firms would be regulated by the Council of Licensed Conveyancers.
We have a mortgage agreed in principle with Lloyds. Ely conveyancing solicitors have been instructed. How long does it take for Lloyds to send the offer to the property lawyer?
Some lenders take longer than others. Have Lloyds completed the survey? Have you advised Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
About to purchase apartment in Ely. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Ely conveyancing practitioner is on the Leeds Building Society conveyancing panel.
Should our solicitor be making enquiries concerning flooding as part of the conveyancing in Ely.
The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Ely. There are those who acquire a property in Ely, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Lawyers are not qualified to offer advice on flood risk, however there are a number of searches that may be initiated by the buyer or on a buyer’s behalf which should figure out the risks in Ely. The conventional set of completed inquiry forms supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the owner to discover whether the property has ever been flooded. If flooding has previously occurred and is not revealed by the seller, then a purchaser could issue a claim for damages resulting from an incorrect response. A buyer’s solicitors may also conduct an enviro report. This should reveal if there is any known flood risk. If so, more detailed investigations will need to be made.
How does conveyancing in Ely differ for new build properties?
Most buyers of new build residence in Ely come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is finished. This is because developers in Ely tend to purchase 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 property lawyers 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 Ely or who has acted in the same development.
I need to find a conveyancing solicitor for sale conveyancing in Ely. I have discover a site which appears to be the perfect offering If there is a chance to get all this stuff done via email that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?