My grandmother passed away last year and as sole heir and executor I was left the house in South East London. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Kent Reliance, pay off the mortgage. Is this allowed?
Given you intend to refinance then Kent Reliance will insist on your using a conveyancer on the Kent Reliance 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 Kent Reliance 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 Kent Reliance mortgage is registered as a charge at the Land Registry.
I am the only recipient of my late grandmother’s will and I have everything in my name alone, including the my former home in South East London. Conveyancing formalities meant that the Land Registry date was in December. I want to move. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership could be considered the same way as though I had purchased the house in December. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates conveyancers 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 caught by that. How practical a view lenders take of it, depend on the lender as this obligation is chiefly there to pick up on the purchase and immediately sell or the wholesaling and assigning of property.
When it comes to mortgage companies such as Virgin Money, do South East London conveyancing practitioners face a fee to be on the list of approved solicitors?
We are unaware of any lender fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
After weeks of negotiation I have agreed a price on a house in South East London. My mortgage broker suggested a conveyancer. I paid an advanced payment of £175. Not long after, the conveyancer called me embarrassingly acknowledging that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Should my solicitor be raising questions regarding flooding as part of the conveyancing in South East London.
Flooding is a growing risk for conveyancers dealing with homes in South East London. There are those who buy a house in South East London, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, however there are a number of checks that may be carried out by the purchaser or on a buyer’s behalf which can give them a better appreciation of the risks in South East London. The standard information supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a usual question of the vendor to determine if the premises has historically flooded. In the event that the residence has been flooded in past and is not revealed by the owner, then a buyer may issue a compensation claim as a result of such an incorrect reply. The buyer’s conveyancers may also conduct an enviro report. This will higlight if there is any known flood risk. If so, additional investigations should be initiated.
We are a couple of weeks into a freehold purchase having been referred to conveyancers by the high street agent to execute conveyancing in South East London. I am am starting to be dissatisfied with the level of service. Could you help me find new lawyers?
They would need to be really poor to suggest changing them. Has your loan offer been sent? In the event that it has you need to make them aware of the new contact details and have the loan are issued to the new lawyers. Your new solicitor ideally needs to be on the banks panel to avoid added charges and frustration. So that should be your first question of the new conveyancers. The search tool will assist you in finding a bank approved solicitor for your home move in South East London
What is the distinction between surveying and conveyancing in South East London?
Conveyancing - in South East London or anywhere in England and Wales - is the legal term given to transferring legal title of property from one person to another. It therefore includes 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 buying and will help you discover the condition of the building and, if there are problems, give you a powerful reason for reducing the price down or asking the seller to remedy the defects before you move in.