My uncle passed away last year and as sole heir and executor I was left the house in Washwood Heath. 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 Principality, pay off the mortgage. Is this possible?
Given you intend to re-mortgage then Principality will insist on your using a conveyancer on the Principality 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 Principality 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 Principality mortgage is registered as a charge at the Land Registry.
How does conveyancing in Washwood Heath differ for newly converted properties?
Most buyers of new build residence in Washwood Heath approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is constructed. This is because developers in Washwood Heath usually acquire the real estate, 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 conveyancers 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 used to new build conveyancing in Washwood Heath or who has acted in the same development.
I decided to have a survey completed on a property in Washwood Heath in advance of instructing conveyancers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some lenders will not issue a loan on this type of premises.
It depends who your proposed lender is. HSBC has different instructions from Nationwide. If you call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Washwood Heath. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Washwood Heath to see if the conveyancing will be more expensive.
I was pointed in your direction by a few selling agents in Washwood Heath to locate a conveyancer on your site. Is there a financial inducement for Estate Agents to offer your lawyers over and above another?
We don’t make any referral fee for pointing buyers and sellers in our direction. We found it would be just too difficult a fee because members of the public would think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
I need to appoint a conveyancing solicitor for remortgage conveyancing in Washwood Heath. I happened to stumble upon a site which appears to be the ideal solution If there is a chance to get all this stuff done via phone that would be ideal. Should I be wary? 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?