My aunt passed away six months ago and as sole heir and executor I was left the house in Nantyglo. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this possible?
Where you intend to refinance then Aldermore will require that you use a conveyancer on the Aldermore 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 Aldermore 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 Aldermore mortgage is registered as a charge at the Land Registry.
Just had an offer accepted on a new build apartment in Nantyglo. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Nantyglo
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Is it simple use the search tool to get a fee calculation from a conveyancing lawyer in Nantyglo on the panel for my mortgage?
First pick a bank such as Birmingham Midshires, The Mortgage Works or Aldermore then specify your location e.g. Nantyglo. Conveyancing firms in Nantyglo and across England and Wales will then be shown.
My husband and I are first time buyers - agreed a price, but the property agent has warned us that the vendor will only proceed if we appoint their chosen conveyancers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local conveyancer accustomed to conveyancing in Nantyglo
It is improbable the sellers are behind this. If they desire ‘a quick sale', alienating a motivated purchaser is going to damage their objectives. Avoid the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are chain free (d) you wish to move quickly (e)but you will continue to appoint your own,trusted Nantyglo conveyancing lawyers - as opposed tothose that will give the negotiator at the agency a commission or meet his conveyancing targets pre-set by senior management.
I am a negotiator for a reputable estate agency in Nantyglo where we see a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Nantyglo conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Nantyglo - Examples of Questions you should consider Prior to Purchasing
Does the lease have onerous restrictions? It would be prudent to discover if there are any onerous prohibitions in the lease. For instance it is reasonably common in Nantyglo leases that pets are not permitted in certain buildings in Nantyglo. If you like the propertyin Nantyglo however your cat is not allowed to live with you then you will be faced hard determination. If a Nantyglo lease has less than 80 years it will impact the marketability of the apartment. Check with your lender that they are happy with residual term of the lease. Leases with less than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth finding out what this will be. Remember, in most cases you would be be obliged to have owned the residence for 24 months in order to be entitled to exercise a lease extension.