Archives for 2020

There was collective hysteria at the start of the coronavirus outbreak about the threat of imminent death which was shortly followed by a huge deprivation of liberty. Now that we are more than 10 weeks into lockdown, we seem to be faced with an additional epidemic; one that relates to mental health.

According to a recent survey undertaken by the Royal College of Psychiatrists, people with no previous mental health history are developing problems for the first time as a result of lockdown. Many reasons have been cited as to why this might be the case, including the uncertainty of not knowing when lockdown will end, tensions at home from having to spend so much time together, job insecurity, relationship breakdown and bereavement. Whilst, like with many studies, there will be issues with the data collected and it will not yet clear what the long-term impact of the coronavirus pandemic will be on mental health, it is obvious that we are all being challenged as we are having to deal with a situation that we have never before encountered during our lifetime. Some individuals will be affected more than others depending on individual situations and whether there are any previous issues of mental health.

Mental Health Awareness Week – Kindness in uncertain times

The theme for Mental Health Awareness week this year (18^th – 24^th May 2020) was ‘kindness’, which is something that has prevailed all over the world during this uncertain time. The Mental Health Foundation has provided examples of how we can all spread kindness; the thinking behind this is that kindness can apparently boost our mental health. Examples include calling a friend that you haven’t spoken to for a while, donating to charity, cooking for someone, praising a colleague or sending a joke to a friend. It is wonderful to see such a strong emphasis on community spirit, basic human kindness and consequently mental health. We should be talking about it, acknowledging it and looking at ways we can support one another.

I have personally enjoyed spending more time at home with my family but I am missing the office, colleagues and my clients. It has been especially troubling to hear of the Covid deaths amongst clients and families/friends of clients and to hear that the same support is not available. I have seen funerals being ‘streamed’ online because people may not have been able to attend and if they were able to attend, the social distancing rules meant that they had to sit on their own, two metres apart from one another. This must feel very isolating to some – the lack of comfort and reassurance from face to face support and the lack of physical contact.

As a Private Client Solicitor, mental health awareness is essential to many aspects of my role as it can affect capacity and decision making. It is paramount to Will making and Power of Attorney Deeds; both in relation to Health and Welfare and Property and Finances. It is clear that we are going to need to be especially aware of any issues that might affect decision making and capacity during this worrying time and for the duration of the aftermath, however long that may be for –  it will be different for each individual. We can however use this time to educate ourselves about mental health, to make more of an effort to talk about it and to do our bit to ‘spread the kindness’.

Mental Health Support and Services

If you or anyone you know is affected by mental health issues there are various organisations that can provide support. The NHS website provides guidance on how to access mental health services – http://www.nhs.uk/using-thenhs/nhs-services/mental-health-services/how-to-access-mental-health-services/

There are also various charities that provide support that are listed on the NHS website, including:

The Charity Mind support helpline – 0300123 3393

The Samaritans –  116 123

Anxiety UK – 03444 775 774

Mental Health Foundation – website www.mind.org.uk

How we can help

Nina Sperring is an experienced Private Client Solicitor at Bartletts Solicitors in Chester. Our offices are friendly and welcoming. We would always encourage you to tell us if you are in any way worried or anxious; we will always try our best to put clients at ease, including home visits if you would prefer.

Our Wills and Probate professionals can advise you in relation to all aspects of Private Client Law, including Lasting Power of Attorney Deeds, Wills, Trusts and Estate Administration.

For advice and guidance please contact our Hoole office on 01244 311 633 or freephone 0800 988 3674 or email advice@bartletts.co.uk

Specialist Personal Injury Solicitor Owain Dodd at Bartletts Solicitors in Wrexham recently helped a production operative win compensation after she was injured at work.

The lady was working in a factory that produces drinks cartons, when the accident happened.

A fault occurred whilst she was working on the conveyor belt which resulted in her hand being caught underneath the belt.

The accident caused a deep laceration to the top of her hand and a soft tissue injury to her hand, and she needed surgery to repair the tendon as well as physiotherapy.

The production operative still suffers from pain and stiffness in her hand, a condition that is worsened by it being her dominant hand.

Owain Dodd at Bartletts Wrexham office was able to work with her and help her make her claim, quickly providing evidence to show the accident happened due to a fault or a lack of a guard on the conveyor belt, and that the factory was at fault for her injuries. In addition to securing compensation for her personal injury, Owain Dodd successfully won compensation for the lady for loss of earnings also.

Bartletts Solicitors in Wrexham has a strong track record of helping clients in the local area, and have Welsh-speaking solicitors on hand to assist whenever needed.

Make a free compensation enquiry today

For specialist advice on your personal injury claim, call us now on 01244 752 999 or complete a Free Online Enquiry and we will soon be in touch.

Settling an estate depends on the size and simplicity of the estate etc – although this depends on the size and simplicity of the estate, as well as how efficient the Executor is.  As a rule of thumb it is usual for the overall process to take between 9-12 months, although it can take longer if there are complexities involved

There is no set time for an Executor to complete the estate administration process, but there is a deadline when it comes to inheritance tax and an order that must be followed when settling an estate.

What Does An Executor Need To Do To Settle An Estate?

The Executor needs to complete the estate administration process in the right order, and in accordance with the law and either the deceased’s Will if there is one or the rules of intestacy if there is no Will.

As a guide, the Executor needs to complete the following steps:

Inheritance Tax

The first thing an Executor must do is work out the value of the estate. This can only be done once everything the deceased owned and owed has been identified and valued – including bank accounts, pensions, shares, personal belongings and assets, as well as outstanding debts. Once this has been calculated, the overall estate value can be reached.

The Executor must then decide if the estate is liable for inheritance tax or not and complete the correct form to submit to HM Revenue & Customs.

Working out the amount of inheritance tax owed, if liable, is complex given the many factors involved, such as nil-rate bands, lifetime gifts, and tax exemptions.

Payment must be made within 6 months of the deceased’s date of death, if owed.

Grant Of Probate

Once any inheritance tax the estate is liable for is paid, the Executor needs to apply for a Grant of Probate. This document gives the Executor the legal power to deal with the estate.

The Executor can apply for a Grant of Probate whenever he or she likes – there is no set deadline in England and Wales.

Assets And Debts

The Executor must locate all the assets and collect them in, once the Grant of Probate has been given. This often includes closing bank accounts, selling property, cashing in life insurance policies, and selling or transferring shares.

Once all the assets are in, the Executor needs to settle any outstanding debts. This is an important step and the Executor must ensure it’s carried out thoroughly and that sufficient time is allowed for creditors to come forward – if they come forward at a later date then the Executor can be held financially accountable for the unpaid debts.

Estate Distribution

Once all the assets and debts have been dealt with, the rest of the estate needs to be distributed to the beneficiaries.

The beneficiaries are the individuals named in the deceased’s Will or those entitled to inherit according to the rules of intestacy.

The Executor has to identify and contact all the beneficiaries. Sometimes, beneficiaries are hard to find or contact, and this can delay the whole process.

Once all the beneficiaries have been contacted, the estate is distributed according to the wishes of the deceased as declared in the Will or in accordance with the rules of intestacy.

What Is An Unreasonable Amount Of Time?

While probate is a complex and often lengthy process, there are times when an Executor can be accused of taking an unreasonable amount of time to complete the administration of an estate.

Executors are obliged to complete the estate administration process in the best interests of the beneficiaries and should keep them updated throughout as well as respond to any queries.

If a beneficiary believes an Executor is taking too long, he or she should speak to the Executor and find out the reason for the delay – often there is a reasonable explanation for the delay, such as a failure to sell property or having to collect in overseas assets.

Beneficiaries have a legal right to claim against an Executor if they feel he or she is not fulfilling their duties properly. This can lead to an Executor being replaced or a claim being made against them for a breach of duty.

How We Can Help You With Probate  

We can help you if you are the Executor of an estate or a beneficiary, and have the professional knowledge and understanding to resolve your issue quickly and effectively.

We can assist Executors with all the legal, tax and administrative work involved in the administration of an estate, and provide expert legal assistance throughout to help make the process as straightforward and stress-free as possible. Similarly, we can help beneficiaries in need of legal guidance when it comes to the duties of an Executor and what a reasonable amount of time for settling an estate is.

To speak to one of our specialist solicitors about the duties of an Executor or for professional help with administering an estate, contact us on 0800 988 3674 or Tel: 01244 311 633 or email advice@bartletts.co.uk

Personal Injury Claim Time Limit

If you’ve been injured as a result of someone else’s negligence or harmed due to no fault of your own, whether at work, on the road, in public or somewhere else, you may be entitled to make a claim for compensation – but how long do you have to make that claim?

There are strict time limits in place for making a personal injury claim and if you leave it too late, you may be unable to start a claim regardless of how entitled you are to compensation.

Time Limits For Personal Injury Claims

As a guide, the time limit for making a personal injury claim is normally up to 3 years from the date of the injury happening. This means, the proceedings need to be sent to the court within 3 years of you suffering your injury, so it’s a good idea to contact a solicitor as soon as possible if you’ve been injured.

There are exceptions, however, and if you only become aware of your injury or its severity a while after it happened, the time limit may apply from this point, giving you longer to claim – the courts have discretion to extend the normal time limit where appropriate.

How Long Do You Have To Make Personal Injury Claims For Children?

If you were under the age of 18 at the time of being injured, the 3-year time limit only applies from when you turn 18. This effectively means you have until your 21st birthday to start making a claim for compensation.

If your child was injured and you are making a claim on their behalf, the time limit is the same – you need to make a claim before their 21st birthday.

How Long Do You Have To Make Fatal Injury Claims?

If you have lost a loved one because of an injury or illness they suffered due to no fault of their own, the 3-year time limit for making a fatal accident claim usually starts from the date of the accident resulted in their death.

The exception to this is when the injury happened years before their death but only came to light much more recently – this happens a lot with asbestos-related illnesses, for example, when the exposure happens decades before the person’s death and only becomes apparent when they become ill shortly before dying. In these cases, the 3-year time limit begins from the date it became apparent the disease caused the death and was the result of a workplace injury.

How Long Do You Have To Make Personal Injury Claims If Lacking Capacity?

For serious injuries such as brain or spinal injuries, the individual can be left without the mental capacity to pursue a claim for personal injury compensation on their own behalf. For these individuals, there is no time limit for someone else to make a claim for them and the 3-year limit would only apply if that person regained capacity and was then able to make a claim themselves.

How Long Do You Have To Make Personal Injury Claims For Assault?

If you’ve been injured due to an assault, you can make a claim against the attacker or through the Criminal Injuries Compensation Agency (CICA) within 2 years of the assault taking place. Depending on the circumstances of your assault, you may be able to pursue compensation outside of this 2-year limit but there is no guarantee the CICA will consider your claim as they are generally very strict about the time limit. The two year time limit also applies to claims involving children who have been victims of crime.

How We Can Help You Make A Personal Injury Claim  

If you’ve suffered an injury through no fault of your own or a loved one has been injured because of someone else’s negligence or deliberate actions, you may be able to make a compensation claim for yourself or on behalf of a loved one.

Our personal injury solicitors have an established track record for making successful personal injury claims and provide an effective and supportive approach throughout the whole process to ensure the best possible outcome for you.

We offer free, no-obligation advice about making a claim and would be happy to discuss the details of your potential personal injury claim with you. By ensuring we fully understand your situation, we can advise you on whether you have a right to pursue compensation and provide guidance on the best way to do so if you decide to make a claim.

To speak to one of our specialist solicitors about making a personal injury claim, contact us on 0800 988 3674 or Tel: 01244 405 399 (Chester) Tel: 01978 360056 (Wrexham) or email advice@bartletts.co.uk

Probate is part of the process of managing a deceased person’s estate, and a Will usually makes the process quicker – but this is not always the case.

On average, in England and Wales it takes between 9 and 12 months to obtain the Grant of Probate and to complete the estate administration process, whether or not there is a Will.

What Is Probate?

Probate is the process of administering a deceased person’s estate and the term refers to a legal document that is needed in order for an individual to administer an estate – with a Will, this document is called a Grant of Probate, and without a Will it is called a Grant of Letters of Administration.

Both document types work in the same way, giving a named person the legal authority needed to administer the estate – this includes closing down the deceased person’s bank accounts, settling their debts, selling their property and more.

Do You Need Probate?

It depends on the assets of the deceased person as to whether or not probate is needed – whether there is a Will or not has no bearing.

What Is The Probate Process?

The named Executors in the Will, if there is one, are the people chosen by the deceased to administer their estate and must apply to the Probate Registry for a Grant of Probate. This usually takes between 3 and 6 months to come through and once granted, the Executors then proceed to administer the estate.

It takes between 9 and 12 months for the probate and estate administration process to be completed, on average, depending on the individual estate and situation.

How Fast Is The Probate Process?

Every probate process is different and how long it takes depends on a number of factors, including the below:

• Is the estate straightforward, without property to sell?
• Does the estate include property and assets overseas?
• How much time can the Executors devote to the completion of this work?

Will Probate Be Quicker With A Will?

The process won’t necessarily be quicker with a Will, no. However, it does usually make the whole experience more straightforward and less stressful as loved ones know who the Executors should be as well as the Beneficiaries, and what the deceased wanted them to inherit.

Sometimes, though, delays can be caused by a Will. This may be for a number of reasons but often because of one of the following reasons:

• Family and friends struggle to find the original Will
• Someone is excluded from the Will and makes a claim under the Inheritance (Provision for Family and Dependants) Act
• The Will is not properly drafted and causes uncertainty

It is always advisable to have a Will, however, as it enables you to express your wishes for protecting loved ones after you die – even though a Will can cause a delay to the probate process, it is still better to have your wishes followed in the longer run than not at all. It is important to seek legal advice with your Will to ensure it is legally watertight and to help ensure the process is as straightforward as possible.

How We Can Help You With Probate  

Our specialist probate solicitors have experience of and understanding gained from handing all types of estate administration cases, from the most straightforward to hugely complex estates – and both with or without a Will being available.

We can assist the Executors with all the legal, tax and administrative work involved in administering an estate, and provide expert legal assistance throughout to help make the process as straightforward as possible.

To speak to one of our specialist solicitors about the probate process or for professional help with administering an estate, contact us on Freephone  0800 988 3674 or at our Hoole office in Chester on Tel: 01244 311 633 or email advice@bartletts.co.uk

Have you been thinking about making a will recently and the term Mirror Wills has been mentioned. Let us explain what they are.

Mirror Wills are almost identical Wills made by two people, usually a married couple or a couple in a civil partnership, that provide a straightforward way to express their wishes on how they want their estates to be distributed when they die.

Making a Will is one of the most important things you will do in life, as it enables you to protect loved ones long after you are no longer around. By stating your wishes for your estate and who you want to benefit from all your belongings in a Will, you ensure your wishes are carried out when you die.

Are Mirror Wills A Good Idea?

If you have similar wishes to your spouse or civil partner on how you want your estate to be distributed when you die, then Mirror Wills can be a simple and cost-effective way to create a Will. However, they do come with some disadvantages as well as advantages and it’s important you seek legal advice before drafting a Mirror Will.

Advantages Of Mirror Wills

• They are two separate legal documents but are almost identical, making them more affordable than creating two separate Wills
• They provide the flexibility of personalising each Will as each individual can state their own preference for executors, trustees and guardians

Disadvantages Of Mirror Wills

• They can be changed at any time, without the other person knowing
• Complications can arise if children remarry or divorce which can result in assets passing outside of the family

Ways To Avoid Mirror Wills Complications

There are ways to ensure Mirror Wills still provide you with the best possible protection when it comes to your wishes being carried out when you die.

It is possible to create a trust within your mirror Wills with a view to protecting part or all of your estate. This may include severing the tenancy in your property so that you are described as ‘tenants in common’ rather than ‘joint tenants’. The reason for this is that as ‘joint tenants’ the surviving partner is entitled to 100% of the property whereas ‘tenants in common’ own a defined share in the property (which may be 50/50) and that share can then be left to other beneficiaries (such as children) rather than it automatically passing to the surviving owner. It is also possible to create a right within your Mirror Wills to allow the surviving partner to live at the property until they die. If the surviving partner needs care in later life, the Local Authority may therefore not automatically have access to 100% of the property.  

It is also possible to create Mutual Wills.

Mutual Wills

These are similar to Mirror Wills but provide the added protection that they can only be changed with the mutual consent of both parties.

Compare this with Mirror Wills and they potentially provide greater protection for the future. With Mirror Wills, if one dies and the surviving partner remarries, they are free to change their Will and leave everything to their new spouse rather than to their children. As they can also be changed when both partners are alive, one could decide to make changes at any time and the other doesn’t legally need to be notified.

How We Can Help You With Writing A Will

Creating a Will is vitally important as it enables you to express your wishes for loved ones when you die, choosing exactly how your estate is to be distributed and who is to benefit. Having a Mirror Will comes with many benefits and is certainly better than having no Will at all. However, choosing the right Will for you, your family and your situation, is ideal – and this is something we can help you with.

Our Wills solicitors would advise and guide you when it comes to drafting a Will that is best for you, depending on your personal circumstances. We would help you consider every aspect of your wishes to ensure your Will details everything you want to happen to your estate when your die, including any trusts you want to create and any particular belongings you want to pass to certain individuals.

We can also professionally draft your Will for you and retain the original or a certified copy to give you peace of mind it is safe and will be easy for loved ones to find when you die.   

To speak to one of our specialist solicitors about Mirror Wills and for advice on making a Will, contact us on Freephone  0800 988 3674 or Tel our Hoole office on: 01244 311 633 or email advice@bartletts.co.uk

Many individuals marry again and have children from a previous marriage or relationship – which can be tricky when it comes to looking after everyone in the future, after you’ve gone.

Having a valid and up-to-date Will is a crucial way to avoid a stressful and potentially expensive family dispute after you die.

What Can Happen In A Second Marriage When There’s No Will

The vulnerability of being married for a second time and having children from an earlier relationship but not having a Will, was recently highlighted by the case of John and Ann Scarle, an elderly couple who died without having made Wills.

John And Ann Scarle

This couple died of hypothermia in October 2016 but their deaths were not discovered for a week.

Experts couldn’t establish the exact date and time of their deaths, and crucially couldn’t establish who had died first. As the bungalow was jointly owned, knowing who died first meant knowing which of their daughters from previous marriages would inherit.

As a result of the inability to establish who died first, Judge Kramer relied on the Law of Property Act 1925 which states when it’s impossible to establish the order of deaths the younger person should be presumed to have outlived the older partner.

Ann was the younger of the couple and her daughter inherited their bungalow. John’s daughter got nothing other than a hefty legal bill as she was deemed unwilling to mediate.

The Importance Of A New Will

When you marry again, any previous Will is automatically cancelled. This can leave you in a vulnerable position until you make a new Will – if you die before making one, the distribution of your estate will be determined by the rules of intestacy. As your previous Will is no longer legally valid, it can mean your wishes are not followed and that your children could lose out.

A new Will should enable you to protect your new spouse as well as children from a previous relationship.

One way to provide for a surviving spouse and protect any inheritance for your children from another relationship is with a trust. This would allow your spouse to benefit from the trust assets during their lifetime but when he or she dies, the assets would pass to your children.

How We Can Help You With Your New Will    

Our expert Wills and Probate solicitors are experienced at helping clients with every aspect of family law and inheritance, including when it comes to making a new Will for your children following a second marriage.

We tailor all advice and will ensure we understand your situation before helping you make the right Will for you and your family. There are options that let you provide for both your new spouse and your children, and make sure that even after your death, you’re still able to protect loved ones and their future.

To speak to one of our specialist Wills and Probate solicitors about making a new Will or for any advice on protecting assets for your children from an earlier relationship, contact us on 0800 988 3674 or email advice@bartletts.co.uk

The new build property market has seen some developers placing excessive restrictions on new build properties and catching householders unawares.

This has surfaced following the change of law regarding new build properties in summer 2019, when the Government abolished leasehold ownership for new build homes. This was done to prevent developers from maximising their profits by doubling ground rents in some cases.

Now all new build homes must be sold as freehold.

However, there are some developers who have switched the unfair leasehold charges with unfair restrictions on new freehold properties instead.

What Does Freehold Mean For Homeowners?

If you buy a freehold house, the property and land it is built on should belong to you and you should have the freedom to make changes to it, within reason, as you wish. Compare this to a leasehold property, which is only yours for a set number of years and comes with more restrictions and service charges, and the option to buy freehold should be an appealing one.

The Unfair Restrictions On New Build Freehold Homes

Some new build freehold houses are being sold with restrictive covenants on them, limiting what the householder can and can’t do with it. When this happens, homeowners are finding out too late that they need permission from the developer to extend the property or improve it in certain ways – restrictions that aren’t the norm on freehold properties.

As some developers are placing the same covenants in freehold contracts as used to be found in leasehold contracts, this is catching buyers out. There have been issues for some homeowners when it comes to selling the house because of the restrictions and extra charges in place.

Top Tips For Potential Home Buyers

Buying a home is already a stressful experience, without the risk of falling victim to a scam in the process. To help prevent this happening to you if you’re looking to buy a new build freehold home, we strongly recommend the following:

• Seek legal advice if you have concerns about the property
• Find a conveyancing solicitor to check all the covenants in the contract
• If covenants are found that you don’t like, ask your conveyancer to negotiate for their removal
• If the developer refuses to remove restrictive covenants, consider carefully whether you want to go ahead with the house purchase

How We Can Help You With Your New Build Purchase

Our property solicitors have helped clients with a wide range of legal transactions, from the straightforward through to the complex – and every one is handled in a friendly, efficient and effective way that ensures the desired outcome is achieved for every individual.

Our conveyancing solicitors will advise and guide you on the purchase of your potential new build freehold home, and will thoroughly check every document related to the house buy. There to support you at every stage, our conveyancers will notify you of any restrictive covenant or excessive charges found within the contract and negotiate with the developers on your behalf.

We are also able to help if you have been caught out by a developer with a new build freehold home, and can assist you on the best way for you to approach the situation.

To speak to one of our specialist property solicitors about buying a new house or your current new build home situation, contact us on 0800 988 3674 or email advice@bartletts.co.uk

Now that we are well into 2020, have you made the changes you wanted at the start of this new year and for your future? If you haven’t already done so, now is the time to get your personal affairs under control should be priority.

Alongside the more usual New Year resolutions of joining the gym, giving up alcohol and spending less money, should be plans for making a Will and appointing a Power of Attorney in case the worst happens.

We have some tips for ensuring the New Year is a happy and peaceful one, thanks to your personal affairs being in order.

What Personal Affairs Plans Should I Make In 2020

Plan Your Will

If you don’t already have a Will, make it your priority to write one in the New Year. Your Will is there to express your wishes for your estate when you die, including who your beneficiaries are, your executors and how you want people to inherit. You can state who gets what asset and on what terms. Not having a Will means the rules of intestacy decide who inherits and this isn’t always what is wanted.

Update Your Will

It’s a good idea to check your Will every 5 years or whenever your family or financial situation changes. If you get married or have a baby, be sure to reflect this in your Will so loved ones are protected when you die. You may also want to change beneficiaries or executors over time or alter plans depending on any new tax rule changes so that loved ones can inherit in the most tax efficient way.

Check Your Living and Working Circumstances

If you live with your partner but are not married or in a civil partnership, your partner will not automatically inherit when you die unless you stipulate this in your Will – the rules of intestacy can deviate from this.

If you own your house, make sure the title deeds are up to date as this helps ensure loved ones are taken care of when you die.

It’s worth checking your life policies and pension policy to make sure your arrangements are up to date and provide your loved ones with the best protection upon your death. Financial advice will help you with your policies and tax efficiency. It’s also worth having a plan in place for your business that outlines what happens if a partner or shareholder dies, so that this happening does not impact on the worth of the business.

Power Of Attorney

Illness or an accident that changes your life and leaves you mentally incapacitated can happen at any time – which is why it makes sense to have a Power of Attorney in place today. Appointing someone to handle your affairs should you no longer be able to make decisions means you have the peace of mind that no matter what the future holds you can continue to protect loved ones.

Foreign Assets Rules

If you have assets within Europe, the changes to succession law in August 2015 mean it’s possible Scots Law can be used rather the law of that particular country when it comes to inheritance. If you hold assets outside of the EU you need to consider having a Will in these countries that unites well with your main Will.

How We Can Help You With Your Planning

New Year is a great time for making resolutions and putting plans in place for your future. Organising or updating your personal and financial affairs will not only give you peace of mind but also ensure you can provide for loved ones in the best possible way, today and tomorrow.

To speak to one of our specialist Family Law solicitors about planning for 2020, including Wills, trusts, estate planning and Power of Attorneys, contact us on 0800 988 3674 or email advice@bartletts.co.uk

Top Legal Tips For Buying A House With Friends

High house prices are making it harder for young people to get on the property ladder – which is why more and more are choosing to buy a house with friends.

On the surface, pooling your resources with friends to buy a property can seem like an ideal solution to tackling the dilemma of how to get on the first rung of the property ladder. However, there are many factors to consider and it’s important you think carefully before going ahead with such a joint purchase.

Top 3 Considerations When House Buying With Friends

How Are Payments On The House To Be Made?

When it comes to finances, consider whether you and your friends will pay the deposit, mortgage payments and other bills equally or not? Also, what happens to a person’s share of the property if they die?

You need a declaration of trust to cover all the details regarding payments. The declaration should state the shares everyone owns in the property and how the shares are to be divided when the property is sold, as well as what happens to the shares if someone dies.

How Easy Is It To Buy Another Property At A Later Date?

If a co-owner wants to take his or her money out of the house in order to buy somewhere else, does the property need to be sold? Or can you and the other co-owners buy out the person leaving and on what terms could you do this?

Other considerations on this topic include Stamp Duty Land Tax as buying a second place means you’re no longer considered a first-time buyer. If you or a co-owner can afford to buy another property whilst retaining interest in the co-owned house, an extra 3% Stamp Duty Land Tax on the purchase price has to be paid.

What Does Joint And Several Mortgage Liability Mean?

Mortgage liabilities are joint and several, meaning if a co-owner leaves or another is no longer able to pay due to job loss, you and the others are liable to pay the mortgage.

How We Can Help You With Your Joint House Buy    

Our professional conveyancing team has extensive experience when it comes to helping individuals as well as co-buyers to purchase their property in the least-stressful and most beneficial way.

If you’re thinking of buying a house with friends, it’s important you only undertake such a venture after seeking professional legal and financial advice first.

We will tailor our advice to your specific needs and the type of buying relationship you have with your friends, to ensure you’ve considered every aspect of your house buy – for today and for the future too.

To speak to one of our specialist conveyancing solicitors about buying a house, contact us on 0800 988 3674 or email advice@bartletts.co.uk