Specialist Conveyancing Services

Conveyancing Fees, Conveyancing Quotes, Property Legal Quotes, Conveyancing Fees to buy a property, Conveyancing fees to sell a property, Commercial conveyancing fees, residential conveyancing fees

Advice Tailored to your Needs

Summary

 

  1. SPECIALIST-CONVEYANCINGTitle Transfers
  2. Remortgaging
  3. Shared Equity
  4. New Build Property
  5. Part Exchange Property
  6. Plots & Self Build
  7. Lifetime Mortgages
  8. Family Transfers
  9. Right To Buy

 

SEE BELOW ARTICLES ⇓

 

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1. TRANSFERRING PART OR THE WHOLE OF THE TITLE?

Title transfer: a simple phrase used by many clients that can cover an almost endless scope of possibilities.

CONSIDER A FEW FACTS:

1. Are you transferring your ownership in the property, in whole or in part (ownership)?

2. Are you adding people on or removing them from ownership?

3. Are you transferring part or the property (transferring part of the land)?

4. Is there a loan/mortgage over the property? Is your lender happy with the arrangements?

5. What will be shared – water and electricity, sewerage, access road, entrance, roof?

SAVE BY AVOIDING LEGAL OVERKILL!

HBC-First-HomeIn many cases savings can be made if the transfer is undertaken without the overkill that many law firms might want to employ.  Methods of lender negotiation, avoiding drafting unnecessary contracts, reducing even registration and government costs that aren’t required (including stamp duty) can all benefit you, the client. Like most things in life there are differing ways to do most jobs. Although they all reach the same destination, experience can save you time, money and stress. Basically, avoid legal overkill!

Not every transfer is the same so it’s hard to detail all of the savings and the best processes. Many factors come to play, including among other things: 1. Is the transfer part of a separation agreement, or are you sharing the title with your new partner? 2 Are you gifting for free or for less than market value? 3. Will the title be split for part sale? 4. Is your lender happy with the transfer and risks (if you have a loan

 

2. REMORTGAGING – DON’T MESS UP!

Okay, so you are releasing funds or remortgaging your property for a better rate? That should be simple, right?

Always remember that your property is a huge asset. To fully get your money back when selling, all of your documentation must be in order and more crucially, actually physically be there. It is not unheard of in some cases for your loan to be repaid, your lender to close your account and for all to appear fine, but behind the scenes the mortgage has not removed from the Land Register’s records. This can be a huge issue when you sell as your lender has closed your account and has difficulty discharging your last loan. You may also have an issue with locating all your documents for your property.

So far we have highlighted a few issues, but what if you are remortgaging using a fees-free product? The legal firm will be restricted as to what work the lender (your new bank) will pay for and cover. In many cases they might receive around £50 to complete your remortgage for your bank. Although they are required to say that all will be done in a very professional manner, commercial pressures may have an effect on the final service and outcomes – especially the transportation of your documents which are so vital when selling your property. We have found that the insurance, secure delivery and storage of these deeds can exceed £50 alone.

Our advice is simple. Always obtain a copy of ALL the important documents prior to any fees-free remortgage and check that the discharge of your old loan is undertaken as part of the service. Failing this, pay that little bit more and stay in control. You may even find that by avoiding a fees-free product you may obtain a better rate and lower bank arrangement fee (always check with your financial adviser).

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3. SHARED EQUITY PROPERTY – MUST BE A CHEAP OPTION?

So you have an agreement from the government or the builder to pay part of the purchase price. Well, where to begin? Having been involved in hundreds of shared equity purchases we can safely say that they all differ. Consider the fact that you now have to negotiate with another lender, a government lending scheme, their lawyers and the third party who administers the loan. Yet do not forget your own lender and their concerns over any other loan, their added conditions to your own loan, the seller and their lawyers.

Yes, you’ve guessed it. This is where we advise you to seek real experts in property law. Having the past experience to pull together everyone so that you get your keys on time is a real skill. You can imagine that each party has its own rules and timescales. Each party will require consents and approval from the others before proceeding … a bit like the chicken and egg scenario.

Get it wrong and the costs will soar. There will be additional costs demanded by the other lenders, Land Register and the additional lawyers. There is no getting away from it. Anyone saying differently really should be questioned. Nevertheless these are the rules and as usual if you appoint the correct lawyers the stress and possible delay can be avoided.

4. BUYING A NEW BUILD PROPERTY ?

HBC1-New-Logo-200x200Clients considering buying a New Build property are often directed to use a lawyer chosen by the Builder/Seller. The law allows you to instruct a lawyer of your own choosing, not just one recommended  to you by the builder/seller. We are sure that they will provide you with the approved legal advice required, yet seeking your own lawyer, independent from the builder/seller has its own benefits.  Buying a new build property has its own set of legal rules. It can never hurt to seek a few legal opinions before you sign or bind yourself to any contract. Agreeing to buy a new build or signing up to a builders part exchange contract is no different.

PLEASE REMEMBER THAT ALL INITIAL LEGAL ADVICE REQUESTED IS FREE AND GIVEN TO YOU WITHOUT ANY OBLIGATION.

In short, seek some advice, it only takes a few minutes to discuss and at the end of our chat if you decide to go with the builders chosen lawyer, we wish you all the best.

PART EXCHANGE A FEW FACTS TO CONSIDER

Although part exchange can be viewed as a process in its own right, it is basically a sale and purchase in the same contract. To this end many people can get confused.

BUYING NEW BUILD PROPERTY, A FEW FACTS TO CONSIDER

The contract in a new build property are normally issued by the builders lawyers. They will detail the usual clauses covering what is being sold for how much and what is the remedy if the contract is breached. The date of entry will often be the date on which the property is passed as fit for habitation by the local authority. As the timing of construction is not perfect science (it can be delayed by weather, materials, construction workers etc.), the date of entry is not fixed and liable to fluctuation. You should factor these issues into your plans, especially if you are also selling your own home.

The search costs required, are dependent on the terms set down by the builder. In many cases the builders do not pay for any searches. (A fact detailed in our Guide to Conveyancing) If timedHBC-New-Logo-200x200 correctly, you can cut back on the costs by combining some of the searches to cover both, but you will still have to purchase the basic searches.

One of the issues your own lawyer must consider is to ensure that your builder is also bound into the transaction. Although this seems self evident, you must remember that the formal offer produced by your builder can in some cases highlight the best position for them – not you. So before you sign anything ensure that you have discussed it with your lawyer. Ensure that your own interests are covered.

The main issue for many clients is getting the statement of account as early as possible. Given the amount of incentives, builders costs and factor charges it takes time for the builder to issue a statement of account for the transaction. As such your own lawyer may not be in a position to advise you of the final bill until the builder issues their own statement which should include any additions to the specification of the property, that you have requested.

 

5. PART EXCHANGE PROPERTY ADVICE

Clients considering a part exchange property are often directed to use a lawyer chosen by the Builder/Seller. The law allows you to instruct a lawyer of your own choosing, not just one recommended  to you by the builder/seller. We are sure that they will provide you with the approved legal advice required, yet seeking your own lawyer, independent from the builder/seller has its own benefits.  Buying a new build property has its own set of legal rules. It can never hurt to seek a few legal opinions before you sign or bind yourself to any contract. Agreeing to buy a new build or signing up to a builders part exchange contract is no different.

PLEASE REMEMBER THAT ALL INITIAL LEGAL ADVICE REQUESTED IS FREE AND GIVEN TO YOU WITHOUT ANY OBLIGATION.

In short, seek some advice, it only takes a few minutes to discuss and at the end of our chat if you decide to go with the builders chosen solicitors we wish you all the best.

PART EXCHANGE A FEW FACTS TO CONSIDER

Although part exchange can be viewed as a process in its own right, it is basically a sale and purchase in the same contract. To this end many people can get confused.

The missives in a part exchange are normally issued by the builders solicitors. They will detail the usual clauses covering what is being sold for how much and what is the remedy if the contract is breached. The missives themselves can seem overly complex due to the fact that clauses for your sale and your purchase can be mixed. If you try and keep in your mind that some clauses will cover the sale of your house to the builder and others shall cover the purchase from the builder you cannot go wrong.

The search costs, are dependent on the terms set down by the builder. In many cases the builders do not pay for any searches. (A fact detailed in our Guide to Conveyancing) You can if timed correctly cut back on the costs by combining some of the searches to cover both, but you will still have to purchase the basic searches.

One of the issues your own solicitor must consider is to ensure that your builder is also bound into the transaction. Although this seems self evident you must remember that the formal offer produced by your builder can in some cases highlight the best position for them not you. So before you sign anything ensure that you have discussed it with your lawyer. Ensure that your own interests are covered.

The main issue for many clients is getting the statement of account as early as possible. Given the amount of incentives, builders costs and factor charges it takes time for the builder to issue a statement of account for the transaction. As such your own solicitor may not be in a position to advise you of the final bill until the builder issues their own statement.

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6. BUYING HOUSE PLOTS AND BUILDING YOUR OWN HOME.

DOING IT YOURSELF

– WHAT TO EXPECT

Building your own home is a dream prospect for most people. Designing your own home on the perfect piece of ground – in house building terms, what couldn’t be more appealing? But let’s think facts and avoid the nightmares of landlocked plots, inadequate services and difficult neighbors.

THE FUN STARTS HERE.

The fun bit: choosing the plot; sitting down with your architect to design; and watching your dreams become a reality as construction starts. Why spoil it with lawyers? Well, you’ll want to make sure that the plot actually belongs to you; that the boundaries are where you think they are; you have the rights to build there; you have access to the plot; you can connect to drains and sewers, you can lead water and other services over adjoining land; there isn’t a problem with other developments; the mineral rights aren’t unusual; and of course that your mortgage lender is happy that your lawyer has checked all of this (and more) out.

Don’t worry! Our lawyers have extensive experience with this. They’ll know where to look and what to watch out for on your behalf.

You’ll also need to think about lending, should you need it. The most common way is to receive your loan funds in tranches, where you receive some of the mortgage funds after each stage of completion of construction.

Who is doing the building? Make sure that your contractor is properly endorsed professionally. Recommendations by family and friends are useful, but always make sure you receive multiple quotes from different builders to compare costs.

But most importantly of all – make sure you contact us before you begin! Don’t leave it until you’ve started to find out you have an expensive problem that could have been addressed at the beginning. Call us if you’d like some free advice or if you are about to start building!

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7. LIFE-LONG MORTGAGES

 LIFETIME MORTGAGES

– MORTGAGES WITH A DIFFERENCE

These are less usual mortgages that are also sometimes called equity release mortgages. The idea is that you borrow money without making monthly payments. Instead, repayment with interest is usually made when you sell the property or upon the death of the owner.

There are more issues to understand with lifetime mortgages and more often than not, your lender will want your lawyer present when you sign on the dotted line. Your lawyer will need to explain the legal details to you, so don’t be fooled by anyone claiming that they can advise you over the telephone to cut costs.

Our lawyers always meet up with clients who wish to arrange lifetime mortgages. One reason for this is that many clients who choose this form of lending are at a later stage in life, and we like to make sure they understand everything before committing.

Our lawyers will also visit you in your own surroundings to make sure you are comfortable and at ease asking questions. So if you have spoken to your financial adviser and you think that this type of mortgage is for you, give us a call and we’ll help you through the process.

WORKING ACROSS THE WHOLE OF SCOTLAND

…As the prices fluctuate due to regional or very specific local issues we pride ourselves in keeping you the client in the best position to buy or sell. Conveyancing in Scotland has become more complex and huge amounts of money can be gained or lost dependent on having the right team to support and represent you.

With the support of our professional advisers and business partners we can keep you in the best position regardless of where your conveyancing transaction is within Scotland. Our Solicitors can call out to visit you and we can even arrange for some local financial adviceor estate agent if you require a wider appreciation of the local market you are selling or buying in.

No matter where you are wishing to  buy your property in Scotland your Scottish Conveyancing Solicitor can be there for you. With home or work place visits and local advice we can ensure that your legal position is secured and your interests are fully represented. Ensure you appoint the best team to represent you.

We have built on the comprehensive legal service by organising home of work place visits. Local knowledge is never lost and is one of our great benefits regardless of where in Scotland you are buying, selling or transferring. Why not have the full service, and at a reasonable cost. We have built or service on providing results without loosing site of how important keeping the conveyancing fees to a level where you the client can get a great service without the high end legal costs.

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8. BUYING OR SELLING TO FAMILY?

INTER FAMILY TRANSFERS

– KEEPING THE COSTS DOWN.

Buying, selling and transferring property to a family member can be straight forward. To this end and as long as everyone is happy to proceed peacefully (without conflict) the costs, timescales and stress can be kept to a minimum

If everyone is in agreement the work can be kept to a minimum by using differing lawyers in the same firm. This has the added benefit of avoiding the extra expenses and adversarial nature of the transaction. It can also keep the red tape and missives to a minimum, which is all good for you the clients. If this is the case and you wish to save money just give us a call and we can put you in the right direction.

LENDERS

The existence of having a loan over the property that is being transferred can restrict and limit the levels of savings. It may be that you wish to gift the property to your son or daughter, yet with a loan over the property this will restrict your options. Like may things in life savings are made by keeping things simple and straight forward. Many firms can over complicate the transaction which can delay and increase the price to you the client.

” Our advice is simple call today and see if we can point you in the correct direction. Even if you use another firm we are always happy to help. We say this because for many client its about the end result and in property law there are differing routes, each with its own benefits “.

 

9. BUYING YOUR COUNCIL HOUSE?

RIGHT TO BUY

– ACT FAST!

You probably know that your right to buy your home is set out in law (well for the time being) and you probably know that housing associations and councils are reluctant to sell. So in knowing these facts it is not a surprise that for you to buy you have to adhere to very strict rules.

The first hurdle is by far the biggest. You have from the issue of your offer only a very short window to accept in writing through your lawyer the offer to buy. (this is not the same as calling them and saying that you will buy). This timeline is further complicated as many stipulate that if you wish to negotiate or amend the offer in any way is must be done through your lawyer within a few weeks of the date on the offer (not the date you get the offer in the post).

On another point the law states that you can buy the property but it does not bind the council or housing association to the costs of selling. To this end you as the buyer require to pay for the searches and the extra registration costs. This tends not to be as much of an issue in England and Wales where this is standard practice. In Scotland the sellers normally pays for the searches.

For a greater understanding of the costs, procedures and to ensure that you do not loose your chance to buy you better call either ourselves or your appointed lawyer without delay. as the clock is ticking.

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