My grandmother passed away 10 months ago and as sole heir and executor I was left the property in Talsarnau. The house had a small mortgage remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this allowed?

Where you intend to re-mortgage then Virgin Money will insist on your using a conveyancer on the Virgin Money 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 Virgin Money 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 Virgin Money mortgage is registered as a charge at the Land Registry.

We are planning to move home in October. Should my conveyancing solicitor communicate with the removal company on the completion day. Incidentally, can you recommend a removal company in Talsarnau. Conveyancing lawyer was organised prior to coming across this website.

On the afternoon of completion you can collect the keys from your selling agent but this can only happen when the previous owners solicitors inform the agent that they have the completion monies and the keys can be released. After that you can tell the removal company that they can start moving you in. As a matter of policy we do not recommend a specific removal organisation but can help you choose a residential property solicitor in Talsarnau or a firm that specialises in conveyancing in Talsarnau.

I happen to be the single beneficiary of my late mum's will with all property in now in my sole name, including the my former home in Talsarnau. Conveyancing formalities meant that the Land Registry date was in June. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership will be considered the same way as though I had purchased the property in June. Do I have to wait 6 months to sell?

The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. How sensible a view lenders take of it, depend on the mortgage company as this requirement is chiefly there to pick up on the purchase and immediately sell or the quick reselling of properties.

It is not clear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Talsarnau bank branch on numerous occasions and was told they are content with the situation and they would lend. My Talsarnau conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?

Your lawyer must follow the CML Handbook Part 2 conditions for your 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 left on the lease.

Are there restrictive covenants that are commonly identified during conveyancing in Talsarnau?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Talsarnau. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

I am attracted to a couple of apartments in Talsarnau which have in the region of fifty years remaining on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Talsarnau is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. For most purchasers and lenders, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Talsarnau conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Talsarnau Leasehold Conveyancing - Sample of Queries before buying

What is the the remaining lease term? If a Talsarnau lease has no more than eighty years it will affect the marketability of the flat. It is worth checking with your mortgage company that they are content with remaining years on the lease. Leases with less than 80 years remaining means that you will almost definitely need a lease extension at some point and it is worth finding out what this will be. For most Talsarnaulease extensions you would be be obliged to have been the owner of the premises for a couple of years in order to be legally able to extend the lease.

What is the difference between surveying and conveyancing in Talsarnau?

Conveyancing - in Talsarnau or elsewhere - is the process of legally transferring legal title of property from one person to another. It involves the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are intending to buy and will help you discover the condition of the building and, if there are problems, give you leverage for negotiating the purchase price down or asking the seller to fix the defects before you move in.