My uncle passed away 10 months ago and as sole heir and executor I was left the house in Llanymynech. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Santander, pay off the mortgage. Is this possible?
If you plan to re-mortgage then Santander will insist on your using a conveyancer on the Santander 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 Santander 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 Santander mortgage is registered as a charge at the Land Registry.
I need some quick conveyancing in Llanymynech as I am faced with an ultimatum to exchange contracts inside one month. Thankfully I do not require a mortgage. Can I decline from having conveyancing searches to save money and time?
As you are are a mortgage free purchaser you are at liberty not to have searches carried out although no solicitor would advise that you don't. Drawing on years of experience of conveyancing in Llanymynech the following are examples of issues that can be revealed and therefore impact the marketability of the property: Enforcement Actions, Overdue Fees, Outstanding Grants, Road Schemes,...
Me and my brother purchased a renovated Edwardian property in Llanymynech. Conveyancing practitioner acted for me and Nottingham Building Society. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Llanymynech and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing lawyer who conducted the purchase.
I have been on the look out for a flat up to £235,500 and found one close by in Llanymynech I like with a park and transport links in the vicinity, however it's only got 51 remaining years left on the lease. I can't really find anything else in Llanymynech suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
I am hoping to exchange soon on a leasehold property in Llanymynech. Conveyancing solicitors have said that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Llanymynech should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? It needs to be made clear to you if the lease allows you to add or upgrade aspects of the flat- you should be made aware as to whether it applies to all alterations or limited to structural alteration, and whether consent is required Alterations to the property Repair and maintenance of the premises
I purchased a leasehold flat in Llanymynech, conveyancing formalities finalised in 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Llanymynech with a long lease are worth £222,000. The ground rent is £50 invoiced annually. The lease expires on 21st October 2095
With just 70 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.