My grandfather passed away last year and as sole heir and executor I was left the property in Tynemouth. The house had a relatively small loan remaining of approximately £8000. 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.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Tynemouth. 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 is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Tynemouth
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision. 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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
I decided to have a survey carried out on a house in Tynemouth in advance of retaining solicitors. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some lenders will refuse to give a loan on such a house.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. If you call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Tynemouth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tynemouth to see if the conveyancing will be more expensive.
Is it best to instruct a Tynemouth conveyancing solicitor who is local to the property I am purchasing? I have an old university friend who can execute the conveyancing but his firm is located 200kilometers away.
The benefit of a high street Tynemouth conveyancing firm is that you can visit the firm to sign paperwork, present your identification documents and apply pressure on them if necessary. Having local Tynemouth know how is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and on the whole were impressed that should outweigh using an unfamiliar Tynemouth conveyancing lawyer solely due to them being Tynemouth based.
What are the specific advantages to selecting a local lawyer in Tynemouth
Home movers in Tynemouth decide on using a local conveyancing practitioner so that they can visit just in case they have concerns, and to collect paperwork without using the Royal Mail.
There is a slight edge when opting for a conveyancing practitioner local to the property you are hoping to purchase, due to the in-depth knowledge of the locality and potential local concerns - but this is debatable. The majority of conveyancers are now through email and could be any place in the world.