My aunt passed away 10 months ago and as sole heir and executor I was left the property in Bosham. 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 Leeds Building Society, pay off the mortgage. Is this possible?
Where you plan to re-mortgage then Leeds Building Society will require that you use a conveyancer on the Leeds Building Society 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 Leeds Building Society 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 Leeds Building Society mortgage is registered as a charge at the Land Registry.
It has been three months following my purchase conveyancing in Bosham took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Is it best to go with a Bosham conveyancing practitioner who is local to the property I am hoping to buy? An old friend can perform the legal formalities but they are based 400kilometers drive away.
The primary upside of using a local Bosham conveyancing firm is that you can drop in to execute documents, hand in your identification documents and pester them if necessary. Having local Bosham know how is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and they were content that should surpass using an unknown Bosham conveyancing solicitor solely due to them being based in the area.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £400,000 apartment in Bosham in 10 days. The freeholder has quoted £324 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Bosham?
Bosham conveyancing on leasehold apartments normally necessitates administration charges invoiced by management companies :
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Answering pre-contract questions
Where consent is required before sale in Bosham
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Bosham - A selection of Questions you should ask before buying
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It is important to be aware if fixing the lift or some other major work is coming up to be shared between the leaseholders and will dramatically impact the level of the service charges or necessitate a specific payment. What prohibitions are contained in the Bosham Lease? Are there any major works in the near future that will add a premium to the maintenance fees?
Why can I not complete our conveyancing in Bosham on Easter Monday?
This is due to the fact that on completion the money needs to pass between the banks of the purchaser and owner’s conveyancing practitioner and at present this can only take place on a working day. So you can't complete on a weekend either.