My grandmother passed away six months ago and as sole heir and executor I was left the property in Melbourn. 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 , pay off the mortgage. Is this possible?
Where you plan to refinance then will require that you use 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.
Are there restrictive covenants that are commonly identified during conveyancing in Melbourn?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Melbourn. 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…’
How does conveyancing in Melbourn differ for newly converted properties?
Most buyers of new build property in Melbourn approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Melbourn typically 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 conveyancers 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 used to new build conveyancing in Melbourn or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what should have been a quick, no chain conveyancing. Melbourn is where the house is located. Is there any guidance you can impart?
Flying freeholds in Melbourn are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Melbourn you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Melbourn may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Am I right to be suspicious by third parties that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a High Street Melbourn conveyancing practice?
As is the case with many service providers, often input from connections can be most helpful. Nevertheless there are lots of players in a conveyancing matter; estate agents, mortgage brokers and lenders might all suggest solicitors to retain. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but sometimes there behind the scenes commercial relationship behind the endorsement. You have the right to select your own lawyer. Don't forget that most banks have an approved list of law firms you must use for the lender aspect of your house move.