My uncle passed away last year and as sole heir and executor I was left the house in Stamford. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to UBS, pay off the mortgage. Is this possible?
Where you plan to re-mortgage then UBS will insist on your using a conveyancer on the UBS 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 UBS 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 UBS mortgage is registered as a charge at the Land Registry.
What is the difference between a licensed conveyancer and conveyancing solicitor in Stamford
There are two types of lawyers who can do conveyancing in Stamford namely licenced conveyancers or solicitors. The two can handle conveyancing services that you need to complete the sale or acquisition of property. Both are required to conduct Stamford conveyancing to the same standards and guidelines so you can be safe in the knowledge that your conveyancing will be professionally administered and that the requisite procedures will be appropriately attended to.
I am expecting a DIP from Principality this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Principality recommend any Stamford solicitors on the Principality conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Stamford solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
Planning on purchasing a house in Stamford. 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 Nationwide 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 Stamford lawyer is on the Nationwide conveyancing panel.
Should our lawyer be raising questions concerning flooding as part of the conveyancing in Stamford.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Stamford. Some people will buy a house in Stamford, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, but there are a numerous searches that may be undertaken by the purchaser or by their lawyers which can figure out the risks in Stamford. The standard property information forms sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a standard question of the owner to determine whether the premises has ever been flooded. If the residence has been flooded in past and is not revealed by the owner, then a purchaser may commence a legal claim for losses as a result of such an misleading reply. A buyer’s lawyers will also commission an enviro search. This should indicate if there is any known flood risk. If so, additional investigations should be carried out.
I decided to have a survey carried out on a property in Stamford ahead of appointing solicitors. I have been informed that there is a flying freehold aspect to the house. The surveyor advised that some banks may refuse to issue a mortgage on such a house.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. If you e-mail us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Stamford. Conveyancing will be smoother if you use a solicitor in Stamford especially if they are acquainted with such properties in Stamford.
Should I be wary that third parties that I am dealing with are encouraging me to use a web based conveyancing firm rather than a High Street Stamford conveyancing firm?
As with lots of service providers, often recommendations from family and friends can be extremely useful or valuable. Nevertheless there are numerous people with a vested interest in a conveyancing deal; estate agents, mortgage brokers and mortgage companies may put forward solicitors to retain. Sometimes these solicitors might be known to one of the organisations as experts in their field, but sometimes there exists a commercial relationship behind the recommendation. You are at liberty to appoint your own conveyancer. You need to be aware that the majority of lenders specify a panel list of solicitors you must use for the mortgage aspect of your home move.