My uncle passed away last year and as sole heir and executor I was left the property in Isle Of Anglesey. The house had a small mortgage remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Principality, pay off the mortgage. Is this allowed?
Given you plan to re-mortgage then Principality will insist on your using a conveyancer on the Principality 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 Principality 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 Principality mortgage is registered as a charge at the Land Registry.
What is the difference between a licensed conveyancer and conveyancing solicitor in Isle Of Anglesey
There are many recorded licenced Conveyancers in Isle Of Anglesey and Solicitor firms in Isle Of Anglesey who can help with your conveyancing It is important to make clear that the two are regulated professionals specialising in the legal aspects of the home buying process. The two can deal with other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
We previously selected conveyancers locally in Isle Of Anglesey on the Bank of Ireland solicitor approved list. They are now charging me a supplemental amount for handling the Bank of Ireland mortgage. Is this an additional conveyancing fee set by Bank of Ireland?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your conveyancer may charge a fee for this. This charge is not set by Bank of Ireland but by your Isle Of Anglesey lawyer. Some firms on the Bank of Ireland panel will charge an ‘acting for lender’ fee and others do not.
I have paid off my mortgage with Virgin Money. I assume I don't need a Isle Of Anglesey conveyancer on the Virgin Money panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I have been told that property searches are a common reason for delay in Isle Of Anglesey house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Isle Of Anglesey.
I used Action Conveyancing several years past for my conveyancing in Isle Of Anglesey. Now, I need my files but the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Isle Of Anglesey of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Isle Of Anglesey differ for new build properties?
Most buyers of new build residence in Isle Of Anglesey approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Isle Of Anglesey usually purchase the real estate, 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 conveyancing solicitors 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 Isle Of Anglesey or who has acted in the same development.