My grandfather passed away six months ago and as sole heir and executor I was left the property in Ruddington. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this possible?
If you intend 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.
Will my lawyer be raising enquiries regarding flooding as part of the conveyancing in Ruddington.
The risk of flooding is if increasing concern for lawyers dealing with homes in Ruddington. Plenty of people will acquire a house in Ruddington, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, however there are a numerous checks that can be carried out by the buyer or by their solicitors which should figure out the risks in Ruddington. The standard information given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a usual inquiry of the owner to determine if the property has historically flooded. In the event that flooding has previously occurred which is not notified by the owner, then a buyer could bring a claim for damages resulting from an incorrect response. A buyer’s solicitors should also carry out an enviro search. This should disclose whether there is a recorded flood risk. If so, more detailed investigations should be conducted.
Just had an offer accepted on a new build flat in Ruddington. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Ruddington
Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a quick, chain free conveyancing. Ruddington is the location of the property. Can you shed any light on this issue?
Flying freeholds in Ruddington are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ruddington you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ruddington may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I need to appoint a conveyancing solicitor for sale conveyancing in Ruddington. I happened to discover a site which appears to be the perfect offering If it is possible to get all this stuff done via web that would be ideal. Should I be concerned? What should out be looking out for?
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?