My grandmother passed away six months ago and as sole heir and executor I was left the house in Cockfosters. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this possible?
If you intend to re-mortgage then Virgin Money will require that you use 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.
Should my conveyancer be raising enquiries regarding flooding as part of the conveyancing in Cockfosters.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Cockfosters. Some people will acquire a house in Cockfosters, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, however there are a various searches that may be carried out by the purchaser or on a buyer’s behalf which can figure out the risks in Cockfosters. The standard information given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to discover whether the property has suffered from flooding. If the premises has been flooded in past and is not notified by the seller, then a purchaser could bring a legal claim for losses resulting from an misleading answer. A purchaser’s conveyancers may also carry out an enviro search. This will higlight whether there is any known flood risk. If so, more detailed inquiries should be made.
I'm converting the mortgage on my existing house to a buy to let loan with Virgin Money and intend to use the remaining equity towards further property. The neighborhood we are interested in is Cockfosters. Will your conveyancers be able to act for both sets of banks and link together the transactions?
Do use our comparison tool on this site to ensure that the lawyers are approved by both banks. Having checked that they are the lawyer will be able to connect the two deals but you should talk with you lawyer and communicate your desired outcome and needs.
I am intending to let out my leasehold apartment in Cockfosters. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
The lease governs the relationship between the freeholder and you the leaseholder; in particular, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Cockfosters do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I have had difficulty in seeking a lease extension in Cockfosters. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We are happy to put you in touch with a Cockfosters conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Cockfosters residence is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case related to 2 flats. The unexpired term was 70.31 years.
My wife and I have recently appointed a conveyancing solicitor in Cockfosters. I I would like to check if they are on the lender's conveyancing panel. Could you assist?
It’s a good idea call the lawyer to check if they are on the bank's panel. Alternatively please get in touch with us and we can investigate and revert. If they are not on the bank panel we we can help find a quality conveyancing solicitor in Cockfosters on the panel for your lender.