My aunt passed away six months ago and as sole heir and executor I was left the property in Penllergaer. The house had a relatively small loan left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then Coventry BS will insist on your using a conveyancer on the Coventry 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 Coventry 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 Coventry BS mortgage is registered as a charge at the Land Registry.
Is it the case that all Penllergaer CQS (Conveyancing Quality Scheme) solicitors are on the RBS conveyancing panel?
A selection of lenders now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
When it comes to lenders such as Aldermore, do Penllergaer property lawyers face a yearly amount to be on the conveyancing panel?
We are not aware of any bank fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
Nationwide have agreed my mortgage in principle, my bid on a property in Penllergaer has been accepted, what are the next steps?
Your estate agent will want to be informed of your conveyancing practitioner's details (ensure that the conveyancing practitioners are on the lender’s approved list). Call up Nationwide or your broker and finish off any outstanding documentation. Nationwide will instruct a valuer who will get in touch with the selling agent or owners to arrange an appointment. Once conducted (assuming no problems) it takes about a fortnight to get a mortgage offer. Nationwide will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Penllergaer.
How does conveyancing in Penllergaer differ for newly converted properties?
Most buyers of new build or newly converted property in Penllergaer approach us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Penllergaer tend to acquire the land, 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 accustomed to new build conveyancing in Penllergaer or who has acted in the same development.
I am selling my property. My past conveyancers has retired. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Penllergaer if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Penllergaer. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.
Am I better off to appoint a Penllergaer conveyancing practitioner in close proximity to the house I am hoping to buy? We have a good friend who can carry out the legal work however his firm is located 300miles away.
The benefit of a high street Penllergaer conveyancing practice is that you can attend the office to execute documents, deliver your ID and pester them where appropriate. They will also have local knowledge which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and they were happy that should trump using an unfamiliar Penllergaer conveyancing lawyer just because they are based in the area.