My aunt passed away six months ago and as sole heir and executor I was left the property in Maryland. The house had a small mortgage left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this possible?
If you intend to re-mortgage then Nottingham will require that you use a conveyancer on the Nottingham 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 Nottingham 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 Nottingham mortgage is registered as a charge at the Land Registry.
I am purchasing a new build house in Maryland with the aid of help to buy. The developers refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not to tell my solicitor about this side-deal as it would jeopardize my loan with Halifax. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Maryland is the location of the property. Can you offer any guidance?
Flying freeholds in Maryland are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Maryland you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Maryland 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.
Are there any apps to assist me to identify a Maryland law firm on the Bank of Scotland conveyancing panel? I am a keen cyclist and am willing to travel upto 25miles to meet the conveyancer.
You can use the facility on this page. Please pick a lender and your location and you will see a number of Maryland conveyancing lawyers located nearest you. We have detailed some Maryland conveyancing firms towards the end of this page and you can call them to see whether they are on the Bank of Scotland approved list
How much will conveyancing in Maryland cost?
The total sum levied for Maryland conveyancing charges may differ significantly from lawyer to lawyer. Given these variations it all the more important that you find this out before you instruct a conveyancer. It is advisable to find three or four like for like quotes.