Completed the sale of my flat in Moorends last June yet the purchaser is SMS messaging every few hours complaining that her solicitor needs to hear from mysolicitor. What should have happened following completion?
Following your disposal your lawyer should send the transfer documentation and all supplemental paperwork to the buyer’s conveyancer. Depending on the transaction, your conveyancer should also evidence that the legal charge in favour of the lender has been paid off to the purchasers lawyers. There are no post completion formalities just for conveyancing in Moorends.
My grandfather passed away last year and as sole heir and executor I was left the property in Moorends. 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 Lloyds, pay off the mortgage. Is this possible?
If you plan to refinance then Lloyds will insist on your using a conveyancer on the Lloyds 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 Lloyds 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 Lloyds mortgage is registered as a charge at the Land Registry.
Various web forums that I have frequented warn that are the number one reason for delay in Moorends house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Searches are not likely to be the root cause of delay in conveyancing in Moorends.
I decided to have a survey carried out on a property in Moorends prior to appointing solicitors. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies will refuse to grant a mortgage on this type of premises.
It varies from the lender to lender. HSBC has different instructions from Halifax. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Moorends. Conveyancing may be slightly more expensive based on your lender's requirements.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Moorends. Conveyancing solicitors are to be appointed soon, however I have recently had a yearly service charge demand – should I leave it to the buyer to sort out?
It best that you clear the maintenance contribution as usual as all rents and maintenance charges will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Leasehold Conveyancing in Moorends - Sample of Queries Prior to buying
It would be prudent to find out as much as possible about the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to every day issues such as the cleanliness of the common parts. Ask other people what they think of them. Finally, be sure you know the dates that you are obliged pay the service charge to the managing agents and specifically how they are spending that money. You should be aware that where the lease has no more than eighty years it will affect the marketability of the property. Check with your mortgage company that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely require a lease extension sooner rather than later and it is worth discovering what this would cost. For most Moorendslease extensions you will be be obliged to have owned the residence for a couple of years in order to be entitled to exercise a lease extension. Are there any major works in the near future that will likely add a premium to the service fees?