My aunt passed away 10 months ago and as sole heir and executor I was left the property in Holbeach. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this allowed?
If you plan to refinance then Coventry BS will require that you use a conveyancer on the Coventry BS 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 Coventry BS 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 Coventry BS mortgage is registered as a charge at the Land Registry.
The deeds to my home are lost. The solicitors who did the conveyancing in Holbeach 5 years ago no longer exist. What are my options?
Nowadays there are duplicates made of almost everything, and your conveyancer should know exactly where to find all the appropriate paperwork so you may purchase or dispose of your property without a hitch. If duplicates are not available, your conveyancer may be able to arrange cover in the form of insurance or indemnities protecting you against possible claims on the premises.
How does conveyancing in Holbeach differ for new build properties?
Most buyers of new build residence in Holbeach come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because developers in Holbeach tend to purchase the land, 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 conveyancers 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 accustomed to new build conveyancing in Holbeach or who has acted in the same development.
I am looking for a leasehold apartment up to £245,000 and found one round the corner in Holbeach I like with amenity areas and railway links in the vicinity, however it only has 52 remaining years left on the lease. There is not much else in Holbeach for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage that many years may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
I own a leasehold flat in Holbeach. Conveyancing and Barclays mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Holbeach who acted for me is not around. Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. You do not need to incur the fees of a Holbeach conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Holbeach Leasehold Conveyancing - A selection of Questions you should consider before buying
You should be aware if it is fewer than eighty years it will have adverse implications on the salability of the property. It is worth checking with your bank that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and it is worth finding out what this will be. Remember, in most cases you will be be obliged to have been the owner of the premises for 24 months in order to be entitled to exercise a lease extension. Does the lease contain onerous restrictions? Who takes responsibility for maintaining and repairing the block?