My grandmother passed away 10 months ago and as sole heir and executor I was left the property in Streetly. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to UBS, pay off the mortgage. Is this possible?
Where you plan to refinance then UBS will insist on your using a conveyancer on the UBS 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 UBS 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 UBS mortgage is registered as a charge at the Land Registry.
What is your number one tip for choosing a conveyancing solicitor in Streetly
It would be unwise to be seduced by the cheapest Streetly conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Does a directory service exist listing Kent Reliance panel solicitors in Streetly on the UK Finance Lenders’ Handbook Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few banks make their panel listings open the public online. If you are seeking to appoint a Streetly solicitor on the Kent Reliance please make the most of our tool.
It is unclear whether my mortgage offer requires a lease extension. I have telephoned my Streetly building society branch on numerous occasions and was informed it wasn't an issue and they would lend. My Streetly conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they would not lend in accordance with their published requirements. I have no idea who is right.
As long as the conveyancing practitioner is on the bank approved list, they must comply with the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
What does a local search reveal concerning the property my wife and I purchasing in Streetly?
Streetly conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations for instance Searches UK The local search is essential in every Streetly conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your new home. The search will supply data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
Over the last few months I have been searching for a ground for flat up to £305k and found one round the corner in Streetly I like with amenity areas and station nearby, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Streetly for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
Am I right to be concerned by third parties that I am dealing with are recommending a national conveyancing firm rather than a local Streetly conveyancing practice?
As with many professional services, often suggestions from relatives can be most helpful. Nevertheless there are many parties with a keen interest in a conveyancing transaction; estate agents, financial adviser and banks might all put forward solicitors to appoint. On occasion the conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there is an underlying commercial relationship behind the endorsement. You have the discretion to choose your own lawyer. Don't forget that some mortgage providers operate an approved list of solicitors you have to use for the mortgage related work in your home move.