My grandmother passed away last year and as sole heir and executor I was left the property in Coney Hall. The house had a relatively small loan left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to , pay off the mortgage. Is this possible?
Given you plan to refinance then will insist on your using a conveyancer on the 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 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 mortgage is registered as a charge at the Land Registry.
I have been told that property searches are the main reason for delay in Coney Hall house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Coney Hall.
How does conveyancing in Coney Hall differ for new build properties?
Most buyers of new build premises in Coney Hall approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is finished. This is because builders in Coney Hall usually buy the site, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Coney Hall or who has acted in the same development.
Over the last few months I have been searching for a flat up to £235,500 and found one close by in Coney Hall I like with open areas and railway links nearby, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Coney Hall for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
Are there any apps to assist me to search for a Coney Hall solicitor on the conveyancing panel? I have a car and am willing to travel upto 25kilometers to meet the solicitor.
You can use the facility on this page. Please choose the mortgage company and your location and you will see a number of Coney Hall conveyancing lawyers located nearest you. We have listed some Coney Hall conveyancing firms towards the end of this page and you can ring them to verify if they are on the member panel