My grandfather passed away 10 months ago and as sole heir and executor I was left the house in Peacehaven. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Yorkshire BS, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then Yorkshire BS will insist on your using a conveyancer on the Yorkshire 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 Yorkshire 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 Yorkshire BS mortgage is registered as a charge at the Land Registry.
A friend advised me that in buying a property in Peacehaven there could be various restrictions limiting what one can do in terms of external alterations to the property. Is this right?
We are aware of a number of properties in Peacehaven which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Peacehaven should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Two weeks ago we had a mortgage agreed in principle with Nottingham. Peacehaven conveyancing solicitors are appointed. How long does it take for Nottingham to issue the offer to the solicitor?
There is no definitive answer here. Have Nottingham completed the valuation? Have you advised Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I had an offer accepted on a property in Peacehaven on 11/5/2022, valuation was booked five days after, received a clean bill of health. Solicitor retained, so all that was missing was my mortgage offer. Having made daily calls to Leeds Building Society and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Leeds Building Society conveyancing panel. Are Leeds Building Society entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
I need to instruct a conveyancing solicitor for my conveyancing in Peacehaven. I happened to stumble upon a web site which seems to have the perfect offering If there is a chance to get all formalities done via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have just started marketing my ground floor flat in Peacehaven. Conveyancing is yet to be initiated, however I have just received a yearly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as usual as all ground rent and service invoices will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a basement flat in Peacehaven, conveyancing having been completed in 2003. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Peacehaven with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease terminates on 21st October 2087
With only 65 years unexpired the likely cost is going to range between £13,300 and £15,400 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
Partway through the sale of a leasehold flat in Peacehaven. Conveyancing solicitors are doing their job but we have been asked to pay an extortionate amount by the managing agents. To date we have issued a cheque for £275 for a leasehold management pack and then another £118 for additional queries supplied by the buyers conveyancer.
You will not have control over the extent of the bill for this information but the average fee for the information for Peacehaven leasehold property is £395. When it comes to Peacehaven conveyancing deals it is conventional for the owner to pay for these costs. The freeholder or their agents are under no legal obligation to address these questions although many will agree to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Regretfully there is no legislation that requires fixed charges for administrative tasks. There is no statutory time limit by which they are duty bound to provide answers.