Category: Purchase
7 remortgage FAQs
If you are reaching the end of a reduced-rate mortgage deal, remortgaging may give you the opportunity to find a better offer than your existing lender’s standard variable rate. We answer some of the questions we are most frequently asked about remortgaging. 1. Do I need a solicitor to remortgage? Unless you are staying with...
Understanding equity release
Equity release policies give homeowners aged 55 or older the option of freeing up capital from their properties without needing to sell up. Whether you want funds to travel, help your children onto the property ladder or make some home improvements, equity release may be an option you are considering. However, you must always take...
Should you sell your rental property while the tenants are in it?
It’s perfectly possible to sell a property while it’s being rented to tenants, but is it a good idea? We look at the pros and cons. For landlords who want to sell, whether or not to give the tenants notice can be a big decision. Selling property with tenants in situ If you choose to...
Can you exchange and complete on the same day?
If you are moving house, you may be wondering if it is possible to exchange contracts on the same day that you complete your sale or purchase. When you buy or sell a property, it is normal to exchange contracts a week or more in advance. This gives your solicitor time to carry out the...
Declarations Of Trust
If you have an interest in a property but your name is not on the title deeds, a declaration of trust can offer protection. We look at how a declaration of trust works and what provisions you can include to ensure you do not lose any contributions you have made. It is sometimes the case...
Dealing with a boundary dispute
Boundary disputes can be difficult to deal with and disagreements with neighbours can escalate if they are not resolved promptly. Disputes are often over small areas of land, for example, a corner of the garden or the edge of a driveway. The official plans of properties that are available from the Land Registry are rarely...
Two-thirds of first-time buyers are purchasing a property jointly
According to mortgage lender Halifax, nearly two-thirds of first-time buyers in 2023 did not buy their property in their sole name. The lender found that 63% of first-time buyer mortgage completions were in joint names. The average deposit put down was £53,414, which accounts for 19% of the purchase price. During a challenging financial year,...
What is the right to manage and how can I get it?
If you own a leasehold flat, you and your fellow leaseholders are likely to have the right to take over the management of the block from the landlord. We look at when this right arises and the potential advantages of exercising it. The Commonhold and Leasehold Reform Act 2002 gives qualifying leaseholders the chance to...
How much does conveyancing cost?
If you are moving house, you need to know how much the full costs of buying and selling are likely to be. We look at the expenses that you will incur alongside the basic solicitors’ costs for conveyancing and what these charges are for. The charges for the legal work aspect will depend on a...