My grandfather passed away 10 months ago and as sole heir and executor I was left the property in Geddington. The house had a small mortgage remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this allowed?
Given you intend to re-mortgage then HSBC will insist on your using a conveyancer on the HSBC 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 HSBC 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 HSBC mortgage is registered as a charge at the Land Registry.
I am buying my first flat in Geddington with a loan from Bank of Ireland. The developers would not budge the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not to tell my solicitor about this deal as it may put at risk 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.
My husband and I are FTB’s - agreed a price, but the property agent has warned us that the seller will only move forward if we instruct their recommended solicitors as they need an ‘expedited deal’. We would rather use a high street solicitor accustomed to conveyancing in Geddington
We suspect that the owner is unaware of this demand. If they require ‘a quick sale', turning down a serious buyer is counter productive. Avoid the agents and go straight to the sellers and explain that (a)you are genuine purchasers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you intend to instruct your preferred Geddington conveyancing lawyers - not the ones that will provide the negotiator at the agency a referral fee or meet his conveyancing thresholds set by head office.
When it comes to leasehold conveyancing in Geddington what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Geddington. Most leases are drafted differently and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
A provision to repair to or maintain parts of the premises Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Chelsea Building Society, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I invested in buying a garden flat in Geddington, conveyancing having been completed in 2005. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Geddington with a long lease are worth £206,000. The ground rent is £45 per annum. The lease ends on 21st October 2083
With only 65 years remaining on your lease we estimate the premium for your lease extension to be between £13,300 and £15,400 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
Our lenders have just issued us with a mortgage offer. We have retained a reputable conveyancer in Geddington yesterday. A couple of hours ago, our mortgage adviser contacted us saying that the mortgage company said that we cannot use our solicitor as they aren't on their panel. As FTB's, we had no idea that the mortgage company had some control over our choice Is this usual?
You are permitted to use any lawyer you prefer to use for your conveyancing in Geddington nevertheless if your bank aren't happy with them you must incur an extra fee so the bank can retain their own solicitors as well to protect their interest. sometimes it is conceivable that your preferred conveyancing firm to get included on to the mortgage company list of approved firms. You can use web-based tools including lenderpanel.com to find a conveyancing solcitor in Geddington on the mortgage company panel. You can go into your high street mortgage company branch in Geddington. They will know some good conveyancing solicitors in Geddington on the approved list.