My aunt passed away last year and as sole heir and executor I was left the house in Ystradgynlais. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this possible?
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.
I have been told that property searches are the number one cause of delay in Ystradgynlais conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any slowing down conveyancing in Ystradgynlais.
I am purchasing my first flat in Ystradgynlais with the aid of help to buy. The builders would not budge the price so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not disclose to my conveyancer about this extras as it would impact my loan with Bank of Scotland. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one round the corner in Ystradgynlais I like with amenity areas and station in the vicinity, the downside is that it's only got 51 years on the lease. I can't really find anything else in Ystradgynlais in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the shortness of the lease will likely be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
What makes your site different to alternative internet conveyancing solicitors for conveyancing in Ystradgynlais?
At this site secure a fixed fee costs illustration via a Solicitor or Licensed Conveyancer that has a full understanding of the nuances for your conveyancing in Ystradgynlais. Unlike many estate agents and many comparison sites we are not in the business of charging firms a fee if you appoint them for your conveyancing in Ystradgynlais