My grandmother passed away six months ago and as sole heir and executor I was left the property in East Sussex. The house had a relatively small loan remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Co-operative, pay off the mortgage. Is this possible?
Where you plan to refinance then Co-operative will require that you use a conveyancer on the Co-operative 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 Co-operative 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 Co-operative mortgage is registered as a charge at the Land Registry.
My bid for a property was accepted at auction in East Sussex. Conveyancing is needed. What happens now?
Now that you are to all intents and purposes signed on the dotted line you should hire the services of a conveyancing solicitor quickly as you are faced with a fast approaching a drop dead date to complete the property. All auction property will have a bespoke legal set of papers. This should include evidence of title and search results. If you have purchased leasehold property the auction pack should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You must give this to your appointed conveyancing solicitor ASAP. You also need to ensure that your finances are organised to complete the transaction on the set completion date.
I have a mortgage with Virgin Money for my property in East Sussex. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Virgin Money?
You must advise Virgin Money in advance of letting out your property as this is likely to be a breach of Virgin Money’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel lawyer.
Intending to buy a house in East Sussex. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the TSB conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the East Sussex lawyer is on the TSB conveyancing panel.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. East Sussex is where the house is located. Can you offer any guidance?
Flying freeholds in East Sussex are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in East Sussex you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in East Sussex may decide 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 residence.
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in East Sussex. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
Most houses in East Sussex are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in East Sussex in which case you should be shopping around for a East Sussex conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your conveyancer will appraise you on the various issues.
I bought a split level flat in East Sussex, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in East Sussex with an extended lease are worth £211,000. The ground rent is £50 yearly. The lease ends on 21st October 2094
With 68 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
There are numerous houses in East Sussex on private roads. We are buying such a house. Are there any advantages to buying a property on a privately owned road?
East Sussex conveyancing practices will be well versed in dealing houseson private. Your conveyancer will review the title to find any rights or responsibilities. In many cases there is a residents association that proprietors make annual contributions for the upkeep of the road. Where there is one, the road will likely be maintained and appear better than publicly owned.