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Property Solicitors Liverpool

Property Solicitors LiverpoolWe have been providing legal support to clients from our offices in Liverpool city centre for over 160 years. We pride ourselves on blending outstanding legal expertise with a personal touch and fostering longstanding relationships with many of our clients. Our property solicitors in Liverpool have vast experience in all aspects of residential and commercial conveyancing and particular expertise in housing disrepair claims. We are recognised experts in our fields and will ensure your matter proceeds swiftly and seamlessly.

To speak to our property experts please contact us or email advice@bartletts.co.uk

I am very satisfied with your service thank you so much.

What do our property solicitors in Liverpool specialise in?

Our property solicitors in Liverpool advise clients needing help with all aspects of commercial and residential property law, including the following:

• Commercial conveyancing

Our commercial property solicitors in Liverpool specialise in handling transactions involving premises intended for business activities, such as offices, restaurants and bars, retail units, and warehouses. We advise buyers, sellers, landlords and tenants, ensuring their interests are protected every step of the way.

Commercial conveyancing is the blanket term for various transactions involving commercial property. These include buying and selling commercial premises or land, granting a new lease of commercial property, and assigning, varying, or renewing an existing commercial lease. Our property solicitors in Liverpool understand that commercial property transactions are vital to the ongoing success of your business, so we draw on our extensive understanding of both the relevant law and the Liverpool commercial property market, to ensure you make the right decisions.

• Residential conveyancing

For most of us, our homes are our most valuable asset, and buying property is the most significant investment we are likely to make. As a result, residential conveyancing transactions can be daunting, overwhelming, and stressful, particularly when you are part of a chain and under pressure to complete quickly.

Our property solicitors in Liverpool have handled countless residential conveyancing matters and are ideally placed to guide you through the conveyancing process with care and reassuring efficiency. You will be assigned a dedicated conveyancer, who will work on your transaction from start to finish. This ensures that the person you communicate with is fully informed about your matter and can address answer any queries you may have quickly and comprehensively.

• Housing disrepair claims

Our property solicitors in Liverpool are hugely experienced in the niche area of housing disrepair claims. We regularly assist tenants whose landlords have allowed their property to fall into disrepair. Housing repair claims can force the landlord to remedy faults with the property and pay compensation for any losses or ill health you sustain as a result of their failure to ensure the property was safe and fit for human habitation.

If you believe you may be eligible to bring a housing disrepair claim, you should collate and retain any evidence that may support your case. The types of evidence relevant will depend on the circumstances, but may include the following:

  • Your tenancy agreement.
  • Any correspondence between you and your landlord relating to the disrepair. If you spoke to your landlord about the issues in person, you should make a note of your conversations as soon as possible afterwards.
  • Photographs of the damage or disrepair.
  • Your medical records, if the disrepair caused ill health.

If you don’t have all of this evidence to hand, don’t worry. Our property solicitors in Liverpool will help you identify and obtain anything relevant. We will then review the evidence and advise on the merits of your position. If the circumstances give rise to a housing disrepair claim, we will vigorously pursue the claim on your behalf, seeking an early settlement of the issues so you can move forwards.

Why choose our property solicitors in Liverpool?

There is an abundance of property solicitors in Liverpool, so why do our clients consistently return to us for help with property law issues? We believe the following attributes set us apart from the rest:

  • Our legal expertise, gleaned from years of experience with property law matters.
  • Our insight into the Liverpool property market, which enables us to give practical and commercial, as well as legal advice.
  • Our welcoming, approachable manner and our commitment to treating each client as an individual and tailoring our service accordingly.
  • Our modern approach to working, which enables you to communicate with us in a way most convenient to you, whether that be by phone, email, live chat, video conferencing, or in person.
  • Our proactivity, which ensures no unnecessary delays derail your matter and facilitates a swift completion.
  • Our client-focused attitude, which places your needs at the centre of everything we do and guarantees that your matter is finalised as quickly and cost-effectively as possible.

To speak to our property experts please contact us or email advice@bartletts.co.uk

Admin staff answered phone promptly and were always friendly and cheerful. My questions and concerns were always addressed promptly and response to was was swift. My conveyancer took great care to explain complex issues and ensure I understood. I felt he always had my best interests at heart.

Conveyancing Solicitors Liverpool

Conveyancing Solicitors LiverpoolIf you are looking for conveyancing solicitors Liverpool, we are here to help. We have been supporting clients in Liverpool, Chester, Wrexham and beyond to buy and sell property, and with all manner of other conveyancing matters, for over 160 years.

Whether you’re a first-time buyer making the leap onto the property ladder or a seasoned landlord purchasing your next buy-to-let property, our experienced conveyancing solicitors are on hand to ensure your transaction proceeds swiftly and smoothly.

To speak to our property experts please contact us or email advice@bartletts.co.uk

I am very satisfied with your service thank you so much.

How Can Our Conveyancing Solicitors Liverpool Help?

Our conveyancing solicitors in Liverpool have vast experience in all aspects of conveyancing law and procedure. We routinely assist clients with the following matters:

  • Buying and selling their home.
  • Right to buy conveyancing.
  • Remortgaging.
  • Buy-to-let transactions.
  • Shared ownership leases.
  • Low-cost unit schemes.
  • Lease extension and enfranchisement.

Why Should You Choose Our Solicitors For Conveyancing In Liverpool?

With so many conveyancing solicitors in Liverpool to choose from, it can be hard to know who to choose. You need a solicitor who you can trust to be efficient, approachable, and responsive. We pride ourselves on going the extra mile for our clients and developing longstanding professional relationships with them. We believe that just a few of the reasons our clients come back to us time and time again are as follows:

• Our Legal Experience

Our firm has been supporting conveyancing clients in Liverpool since 1860 from our offices in the city centre. You can be assured of the highest levels of expertise; all of our conveyancers are highly trained professionals committed to providing the highest levels of service. They are supported by senior solicitors and partners, who are available to advise on any legal issues arising during your transaction, such as those relating to tax.

• Our Modern Approach

We couple our legal expertise with cutting-edge technology to enhance our clients’ experience and streamline our processes, ultimately reducing your costs. In addition to the traditional communication methods like phone and email, we offer the convenience of live chat and video conferencing, so you can choose the method that suits you best. Our advanced case management software allows you to stay informed about the progress of your matter at your convenience.

• Our Friendly Manner

We believe that our conveyancing solicitors’ friendly, approachable and personable manner is key to our clients’ satisfaction. We appreciate that buying a property is a significant investment and understand that conveyancing transactions can be incredibly stressful, particularly when time pressures come into play. The same dedicated conveyancer will work on your matter from start to finish, so you can be confident that the person you deal with each time you call will be fully informed about your transaction. They will always be available to give you an update on your matter, answer any questions, and deal with any issues swiftly and decisively.

• Our Client-Focused Outlook

Our conveyancing solicitors in Liverpool understand that each client is unique. We take a client-focused approach, tailoring our services to your specific circumstances. Your needs are our priority, and we are committed to working tirelessly to complete your conveyancing transaction as quickly and smoothly as possible.

• Our Local Knowledge

Our conveyancing solicitors in Liverpool have an unparalleled understanding of the Liverpool property market, gleaned from their decades of experience in the area. We have handled countless transactions, and our insight enables us to provide not only legal, but also practical advice to ensure you are in possession of all pertinent facts and can make the right decisions.

• Our Proactive Attitude

Our conveyancing solicitors in Liverpool approach each matter with a proactive mindset, aiming to complete the transaction as quickly as possible for our clients. You can be confident that we will never allow a matter to simply drift due to the other side’s delays but will instead push to exchange and complete swiftly. Our experience often allows us to pre-empt any potential issues before they arise and address them before they become problematic.

• Our Diligence

Conveyancing transactions can be document heavy and necessitate a keen eye for detail. We carefully and comprehensively review all paperwork, including pre-contract enquiries, the contractual documentation, and search results, so you can proceed with the transaction with the peace of mind that there will be no unforeseen consequences down the line.

• Our Reviews

Hearing other people’s positive experiences of our services can help reassure you that we are the right conveyancing solicitors in Liverpool for you. We love to hear from our clients after their transaction has completed and are proud to have received client feedback praising our ‘efficient and friendly service’, ‘speed and diligence’, and ‘excellent communication’.

To speak to our property experts please contact us or email advice@bartletts.co.uk

Admin staff answered phone promptly and were always friendly and cheerful. My questions and concerns were always addressed promptly and response to was was swift. My conveyancer took great care to explain complex issues and ensure I understood. I felt he always had my best interests at heart.

Property Solicitors Wrexham

Property Solicitors WrexhamWe are a long-established law firm committed to serving the needs of the people of Wrexham and throughout North Wales. Situated in the heart of the town centre, our property solicitors in Wrexham have an outstanding understanding of all aspects of residential and commercial property law and practice, together with extensive experience in the local property market. We pride ourselves on providing a level of expertise to rival that of much larger firms for a fraction of the cost and strive to build longstanding professional relationships with our valued clients.

To speak to our property experts please contact us or email advice@bartletts.co.uk

I am very satisfied with your service thank you so much.

What Do Our Property Solicitors In Wrexham Do?

Our property solicitors in Wrexham deal with all aspects of residential and commercial conveyancing, as well as housing disrepair claims.

• Residential Conveyancing

Our experience in the Wrexham property market is unparalleled. When you instruct us to act for you in connection with a residential conveyancing matter, you can be assured of professional advice based not only on our legal expertise, but also on our understanding of market trends. We appreciate that buying a home or investing in buy-to-let property is a significant financial commitment. Understandably, few of our clients have a detailed understanding of the conveyancing process, which can seem complex and overwhelming. We will guide you through the process, taking control of the matter from start to finish, so you can concentrate on your move or preparing to fulfil your obligations as a landlord.

Examples of the types of residential conveyancing issues our property solicitors in Wrexham frequently deal with include the following:

  • Buying and selling a property
  • Right to buy conveyancing.
  • Remortgaging your property.
  • Buy-to-let purchases.
  • Shared ownership leases.
  • Low-cost unit schemes.
  • Lease extension and enfranchisement.

• Commercial Conveyancing

Commercial property matters can have a significant impact on the success of your business, so they must be handled efficiently and with care. Our commercial property solicitors in Wrexham have vast experience in conveyancing transactions relating to all types of business property, including retail units, warehouses, restaurants, and offices. We regularly advise buyers, sellers, landlords and tenants on commercial property transactions, including buying and selling premises, granting or taking a new commercial lease, and extending, assigning or varying an existing one.

Examples of the types of commercial conveyancing issues our property solicitors in Wrexham frequently deal with include the following:

  • Buying and selling commercial premises.
  • Negotiating new commercial leases.
  • Assigning, varying, or extending existing commercial leases.
  • Commercial property buy to let transactions.
  • Purchasing land for redevelopment purposes.
  • Landlord and tenant matters.
  • Liquor Licensing applications.
  • Pharmacy Licensing applications.
  • Planning law.

Why Choose Our Property Solicitors In Wrexham?

We believe we are the go-to firm for clients needing property law advice in Wrexham and across North Wales for the following reasons:

  • Our legal expertise is second to none, so you will receive the very best legal advice tailored to your situation.
  • We are actively involved in the local property market, handling countless transactions each year. As a result, we do not simply give legal advice in the abstract. Instead, we blend our legal support with practical guidance and common-sense suggestions.
  • We combine our traditional values with cutting-edge technology to streamline our practice, simplify matters for you, and reduce your costs. We understand that it can be difficult to take time out of your busy schedule to attend solicitors’ meetings, so we have put measures in place that allow our clients to contact us through a means convenient to them. You can get in touch with us by phone, email, live chat, or videoconferencing at a time that best suits you. To simplify matters yet further, we have invested in an advanced case management system that enables you to quickly and easily check the progress of your matter whenever you wish.
  • Our property solicitors in Wrexham are known for their personable and friendly manner and for going the extra mile to put our clients at ease. The same dedicated individual will be responsible for your matter from start to finish, so you will get to know them and feel reassured that you are in good hands.
  • We approach each matter with a proactive mindset, determined to push towards completion as quickly as possible. We usually spot any potential issues before they arise, and deal with them before they become problematic, thereby avoiding unnecessary delays and costs.
  • We are conveniently located in the town centre, so you can pop in whenever you’re in town, either to speak to us about a new matter or for an update on an existing one.
  • We offer a Welsh language service, and many of our solicitors originally hail from Wrexham, so have a real affinity with the town and its people.

To speak to our property experts please contact us or email advice@bartletts.co.uk

Admin staff answered phone promptly and were always friendly and cheerful. My questions and concerns were always addressed promptly and response to was was swift. My conveyancer took great care to explain complex issues and ensure I understood. I felt he always had my best interests at heart.

How Do I Buy A Property At Auction?

Buying a property at auction is becoming increasingly popular because of the shortage of homes for sale on the open market combined with the far faster completion process that auction property offers.

Making A Bid On Property At Auction

Before You Make A Bid

Before you place a bid on property for sale at auction, make sure you research the property in advance first. Enlist a solicitor to review the sale pack before the date of the auction – this should contain the property’s title deeds and recent searches.

It’s vital you understand the property you’re potentially going to buy at auction.

Although being thorough means spending money on a house you might not buy, you will know which questions to ask at the start of the auction before the bidding starts, as your solicitor will give you a report highlighting any areas of concern.

You should also arrange a suitable survey so that you are aware of any defects in the dwelling/building and the costs of rectifying them.

Your Bid Is Accepted

If your bid is accepted, you are legally committed to making the purchase.

The contracts are exchanged at the auction and a completion date is set, often 28 days after the auction day.

You cannot raise any queries after the sale is agreed and contracts exchanged – this is why it’s worth the cost of a solicitor prior to the auction date, to ensure you don’t receive any unexpected news or costs related to the property at a later date.

Your solicitor will then deal with the completion process, transferring legal ownership of the property to you and making arrangements for any stamp duty to be paid to the H M Revenue and Customs.

Paying For Property At Auction

You will have to pay a 10% deposit on the day of the auction, if your bid is successful, so it’s vital to ensure you have the necessary funds cleared in your bank account before the auction date.

Furthermore, as you’re legally committed to buy the property if your bid is accepted and completion is far quicker than for a standard home purchase, you must have sorted funding in advance. There will be no time to sort a normal mortgage between the auction and completion dates.

Is It A Good Idea To Sell Your Property At Auction?

The advantages of selling your property at auction include a fast turnaround time – if you need to sell the property quickly for whatever reason, an auction sale will offer a far faster completion time than a normal house sale.

The downside to selling at auction is that you could end up accepting a lower offer than you might have done if you sold the property on the open market.

How We Can Help You With Your Auction Property Purchase

Our solicitors have the specialist legal knowledge and experience of helping clients to buy and sell property at auction – and are here to help you if you’d like to find out more about the process or to instruct a solicitor to review a sale pack.

To speak to us about buying or selling property at auction, please contact us on 01244 311 633 or email advice@bartletts.co.uk

Alternatively, you can Make An Online Enquiry and one of our team will be in touch with you as soon as possible.

 

How Long Does It Take To Sell A House?

Selling a house is often an exciting time and almost always a stressful period, and the process depends on numerous factors which can slow down or speed up the transaction.

Bartletts Solicitors Residential conveyancing ChesterIn terms of how long it will take you to sell your house, it is difficult to say with certainty as every conveyancing transaction is different. As a guide though, the average time for the process of house selling, from the acceptance of an offer through to completion, is 6-15 weeks.

How Can You Speed Up Selling Your House?

Selling a house is an individual experience and every sale goes through at a different speed, depending on factors such as whether the buyers are cash buyers or in a chain.

However, an effective way to speed up the overall process is to start early – find a solicitor as soon as you decide you want to sell your house. By doing so, you’ll be able to complete all the necessary paperwork before you accept an offer, rather than delaying the process by doing the paperwork afterwards.

When it comes to finding a professional conveyancing solicitor, it’s a good idea to phone for a quote. You’ll be able to ask questions and understand what the service will be like as well as what the quote includes – more so than finding quotes online.

There is a lot of paperwork involved with selling a house, and Bartletts Solicitors are always happy to help, going though the paperwork with you in person or over the phone, whichever is easiest for you.

Once you’ve chosen your solicitor and completed your paperwork, let your estate agent know which solicitor you’ve instructed. This enables them to communicate effectively with the relevant parties on the sales particulars and improve the conveyancing process.

The Conveyancing Process

After you’ve completed and returned the sellers property information form, fittings and contents form and leasehold information form (for leasehold properties), your solicitor sends out a contract package to your buyer’s solicitor. This provides your buyer’s soliciotrs with the opportunity to check all the details and make sure they’re happy with the terms of the contract, title to the Property, information provided in the transactions forms, results of their searches and the terms of buyers mortgage offer.  Your solicitor liaises between your buyer’s solicitor and you, addressing any enquiries they have and responding to their solicitors accordingly. Your buyer’s solicitor then reports to the buyer, have the documents signed and arrange funds for the deposit.

Exchange

The exchange of contracts between your solicitor and your buyer’s solicitor makes the purchase legally binding. After this point, changing your mind about selling or buying the property comes with financial fines. A completion date is set.

Completion

The conveyancing process is finalised at completion – when the funds are transferred from your buyer’s solicitor and once received, your keys are handed over.

This is usually done by midday on the day of completion, so it’s a good idea to have vacated your house by then.

How We Can Help You With Your House Sale

Our specialist conveyancing solicitors are here to help if you’re selling your house. We can provide advice and act on your behalf as your solicitor to ensure the process is as straightforward and efficient as possible.

To speak to us about selling your house or to instruct one of our solicitors to act on your behalf, please contact us on 0800 988 3674 or 01244 311 633 or email advice@bartletts.co.uk

Alternatively, you can Make An Online Enquiry and one of our team will be in touch with you as soon as possible.

 

What Is the Impact of Mounting Pressure on Buy-to-Let Landlords?

The latest Office for National Statistics (ONS) data shows that average private rental prices paid by UK tenants increased by a record rate of 5.1% in the year to June 2023. This will provide little relief to the estimated 1.4 million UK homeowners, including many buy-to-let landlords, with mortgages that are due to expire in 2023, who face a steep increase in their monthly payments following recent Bank of England base interest rate rises.

The impact appears to be already being felt, with ONS data collected in July finding that 45% of mortgage holders had seen their payments rise in the last six months, while 40% of tenants and mortgage holders reported that it was very or somewhat difficult to afford their rent or mortgage payments. Successive hikes have seen the interest rate on outstanding fixed-rate mortgages rise from 2.08% in November 2022, to over 6% in August 2023, meaning that many homeowners are facing increases of more than 50% on their monthly mortgage payments.

On top of the financial pain caused by rising interest rates, buy-to-let landlords have been hit by gradually phased-in mortgage interest tax relief changes, which now means that higher-rate taxpayers are unable to claim any tax back at all on their mortgage payments (after receiving up to 40% tax relief previously) because the new tax credit only refunds tax paid at the basic 20% rate. Furthermore, while incorporating a buy-to-let property will allow tax-deductible mortgage expenses, capital gains tax will be payable on the transfer to the company. Therefore, landlords who purchased their property in the past may not find this solution economically viable.

Our firm’s solicitors have invested in property themselves and understand the cash situation facing many buy-to-let landlords. We have decades of experience of buying and selling residential properties in the city of Liverpool and across Merseyside. Legal advice from conveyancing solicitors with local knowledge and expertise can be critically important in safeguarding the interests of a buy-to-let property buyer or seller.

Find out more:

 

What Is Involved When I Buy A Property Off-Plan?

Guide To Buying A Home Off-Plan

Buying a property off plan with Bartletts SolicitorsBrand new homes are appealing and buying a newbuild off-plan can be an exciting way to purchase a forever home or investment property or second home. More and more of us are choosing to buy off-plan – and often, choosing to buy before it has even been built and therefore without seeing the completed property.

It’s important that, whatever your reason for buying off-plan, you consider all the factors and potential risks first.

What Is Buying Off-Plan?

Buying off-plan is when you buy a property you haven’t seen, normally before it has been built.

Sometimes, the developer of the off-plan homes will have finished some of the properties in the scheme, including a show home which you can view to give you a better idea of what your house will be like when completed.

However, there are times when your new home only exists on paper, in the plans, and the completion date will be set for a time far in the future.

Pros Of Buying Off-Plan

Buying off-plan is a popular way to buy property as it can be a cheaper option. Purchasing in this way means the price is fixed and cannot rise – depending on what the market does, this can save you a lot of money.

When you commit to buy off-plan, you pay the price of the property’s value at the time of committing and not at the time of completion. If the market rises greatly during the time it takes to build your house, you will save as your price will reflect the lower value from when you agreed to buy.

However, the opposite is true and if property prices fall in the time between committing to buy and completion, you can pay over the odds for your house. To offset this risk if the market isn’t rising, developers will often offer a discount on the final price.

As a guide, the main benefits of buying off-plan include:

  • You have more control over the finish of the property than you do with a traditional property purchase given your house is likely to still be in the build phase or yet to be built phase when you exchange. Normally, with off-plan you can choose how the house will look in terms of décor and fixings.
  • New builds are often created in interesting locations and sometimes with a theme, such as for retirees or for second homeowners, which helps to forge a sense of community.
  • The nature of the house buy means the process is normally chain free.
  • The property itself is usually built to a high standard and with good levels of energy efficiency, which should mean it’s cost efficient to live in.

Cons Of Buying Off-Plan

As a guide, the main disadvantages of buying off-plan include:

  • Lack of certainty over what you’re buying. If you’ve only seen plans and marketing brochures, there is a risk that the house that is built for you doesn’t live up to your expectations.
  • Not all housing development schemes are completed due to developers going bust or funding shortfalls.
  • A landscape change depending on the size of development your newbuild is part of. It may be that the number of off-plan homes built means the look of the area changes or you experience ongoing construction noises after moving in, while other houses are built.
  • The gap between exchange and completion is longer than for a traditional property purchase and can take months or years to complete. This can cause difficulties for funding the build or securing a mortgage.

How To Reduce Your Risks Of Buying Off-Plan

There are steps you can take to minimise your risks of buying off-plan – and these include the following:

  • Make sure your chosen developer has a good track-record and you can trust them to complete the property scheme to a high standard.
  • Find the right solicitor for legal protection – your solicitor will draft a contract that details exactly what the developer must deliver and outlines your expectations and what happens if these aren’t met. This includes having an end date for completion that means if the property isn’t built by this date, you can cancel the agreement and get your deposit back.
  • Get insurance to cover you for any time delays or shortfalls with the build.
  • Keep your property build deposit to under 10% if you can.
  • Consider having alternative funds in place if needed. Most mortgages only last six months and the gap between exchange and completion could be longer than this, which could potentially mean having to reapply to your bank and experiencing a shortfall in advanced funds if the property is valued at a lower price than originally.
  • Plan ahead and speak to a financial adviser if you need a mortgage. There are some specialist mortgages available for off-plan properties.

How We Can Help You With Buying Off-Plan

Our residential conveyancing team has experience of handling all types of property purchases, including buying a home off-plan. We fully understand the process involved and the factors to consider with each purchase type, and will ensure you have the legal protection and reassurance in place if you decide to go ahead with your off-plan purchase.

As well as checking the planning permission on your house build to ensure it complies with all plans, your conveyancing solicitor will also make sure there are no issues with the wider development and that you have the necessary access and services built-in as part of the build and not as an extra cost.

Your solicitor will ensure the contract is legally watertight and provides the guarantees you need to make buying off-plan as stress-free and straightforward as possible.

To speak to one of our specialist solicitors about buying a property off-plan, please contact us on 01244 311 633 or email advice@bartletts.co.uk

Alternatively, you can Make An Online Enquiry and one of our team will be in touch with you as soon as possible.

Who Are the Millions Eligible for the Right to Buy?

Research commissioned by the consumer finance company Pepper Money has revealed that more than two million people are eligible for the government’s Right to Buy scheme. A YouGov survey of 6,377 adults in England and Wales found that 11% were currently renting their home from a local authority or housing association, and of these, 54% stated that they would consider buying their home using the Right to Buy scheme. Based on the estimated 34.8 million people aged between 20 and 60 in England and Wales, this amounts to a potential two million potential customers for Right to Buy.

The current Right to Buy rules provide local authority and housing association tenants with the opportunity to buy their homes at a discounted price if they have been living in the property for more than three years. The Right to Buy scheme was introduced by Margaret Thatcher’s government in 1980, and figures from its introduction in April of that year to March 2021 show that there have been 1,992,799 sales of social housing to tenants through Right to Buy during that time. Of these sales, an estimated 94% were to local authority tenants.

The Right to Buy scheme has always been controversial due to the fact that local authorities are not permitted to use the funds generated by Right to Buy sales to build new homes. This has added to the pressure on social housing in England and Wales, with the number of council homes having fallen from 6.5 million in 1979 to 2.2 million today. The Secretary of State for Levelling Up, Housing and Communities, Michael Gove, has recently attempted to address the problem with the announcement in April that local authorities will be able to keep 100% of the funds from Right to Buy sales for the next two years. However, it remains to be seen what impact this will have on what is widely described as a crisis in UK social housing.

Find out more about Right to Buy:

https://www.bartletts.co.uk/our-services/residential-conveyancing/can-i-buy-my-home-from-liverpool-council-or-from-a-liverpool-housing-association/

Should I Buy A Property Together As Joint Tenants Or Tenants In Common?

Buying a property together as a couple is an exciting time – but should you make the purchase as Joint Tenants or as Tenants in Common?

Bartletts Solicitors Residential conveyancing ChesterCouples can choose how to buy their home, and the option that’s right for you depends on how you want the equity to be held for the future.

Joint Tenants

With a joint tenancy, both you and your partner own the property and have no specific shares and have equal rights to the whole of it. This is regardless of the equity share you each put into buying the property originally.

If a co-owner dies, their share automatically passes to the surviving co-owner, known as the Right of Survivorship.

This is the most straightforward option and is often chosen by married couples, as it avoids probate and inheritance tax issues by automatically passing the deceased co-owner’s share to the surviving one.

Tenants In Common

Owning property together as Tenants in Common means each of you own a specified share in the property. You can choose to set the ownership split from the start or to detail it according to the financial contributions you make during your ownership of the property.

You can own different shares in the property and can use a Declaration of Trust to state any financial details or write this within your Will.

When one of you dies, the surviving owner cannot sell the property without the appointment of a further co-trustee. The deceased’s share of the property does not automatically go to the other owner and will pass according to their Will or the rules of intestacy.

This option enables couples who are paying an unequal amount towards the purchase price to safeguard their bigger share, and lets unmarried couples pass their share of the property to their children in the future.

Which Ownership Option Is Right For You?

If you’re unsure whether owning your property as Joint Tenants or Tenants in Common is best for you, make sure you’re honest with your partner about your wishes for the future. It’s a good idea to seek independent legal advice before purchasing the property, too, if your contributions are unequal or you want to be able to pass your share of the property onto someone else when you die.

You can change how you own your property at a later date, if your circumstances change. You might want to switch from having a joint tenancy to being Tenants in Common if you divorce or separate and decide to leave your share to someone else. Or you might wish to change from the Tenants in Common option to Joint Tenants if you get married and want equal rights to the whole property.

Helping You With Your Property Purchase

Our conveyancing solicitors are here to help you with every aspect of your property purchase – including choosing the right ownership option for you.

Depending on your personal situation and wishes for the future, we will help you buy your property in the right way. We can also help with the additional drafting of specific details in your Will or with the drawing up of a Declaration of Trust, if needed.

With our help, you can buy your property in the best possible way, providing you with the financial reassurance and peace of mind that your loved ones will be looked after in the future.

To speak to one of our solicitors about property ownership options or any other aspect of conveyancing, please contact Bartletts Solicitors today on Freephone 0800 833288, or 01244 311 633 or email advice@bartletts.co.uk  or Khalid.mahmood@bartlettslaw.co.uk

Alternatively, you can Make An Online Enquiry and one of our team will be in touch with you as soon as possible.

 

 

How Can I Change The Name On My Property Deeds?

There are many different scenarios when it might be necessary to change the name or names on your Bartletts Solicitors in Chester guides you through Changing the name on the deeds of my propertyproperty title deeds – fortunately, this is usually a straightforward process provided it is done correctly.

Reasons For A Name Change On Property Deeds

As a guide, you might need to change the name on your property deeds in the following situations:

  • Marriage – if you marry and change your name to that of your partner’s, you can arrange for your name change to be amended at Land Registry by showing your marriage certificate to your conveyancer to start the process.
  • Inheritance – if you inherit a property, its title deeds need to be changed to alter the name to yours. You need to pay a fee to Land Registry for this, depending on the value of the property.
  • New trustee – if a new trustee is appointed to the trust property, the Deed of Appointment must be registered at Land Registry.
  • Deed poll – if you change your name by deed, your conveyancer can arrange for the name change at Land Registry.

Do You Need A Transfer Of Equity?

A transfer of equity is the legal process that enables you to add or remove the name of someone from the title deeds of a property. As a minimum requirement, there is no sale of the property and at least one original owner remains on the deeds.

You will need a transfer of equity in certain circumstances, including:

  • Divorce or relationship break – if you need to divide up your assets and that includes property, then the names on the title deed will need to be changed to reflect the change in ownership
  • Marriage or new relationship – if you want to add your partner’s name to the deeds of the home you own
  • Joint owners – if you want to buy out your joint owner/s so that you own more equity in the property
  • Tax benefits – if you transfer equity to your children or other family members to reduce your tax bill in the long-run, seek legal advice first. Many people choose to gift their share of property to their children or partner, for tax reasons

To transfer equity, you need at least one legal owner and no more than 4 owners in total. To work out the value of the share being transferred, you usually need to obtain a current market value first. If there is a mortgage on the property, the mortgage lender must consent to the transfer.

What Is Equity?

Equity is the amount of your home that you own. To calculate this, you take the property’s value and then take away any mortgage on it, and the remaining amount is your equity in the property.

What Is The Transfer Of Equity Process?

Your solicitor will guide you through the transfer of equity process to ensure it is straightforward and completed correctly.

As a guide, the process involves:

  • Checking the title deeds
  • Preparing the transfer deed documents
  • Your signing of the transfer documents with a witness present
  • Any mortgage lenders or banks linked to the property providing written consent
  • Registering the transfer deed with Land Registry
  • Paying the registration fee, which ranges from £50 to £920 depending on the value of the property

What Happens When There Is A Mortgage?

If there is a mortgage on the property, an agreement must be reached with the lender before the transfer of equity can proceed.

There are different ways to achieve this, including:

  • Paying off the mortgage
  • Transferring the property as part of a buy-out
  • Remortgaging the property to release enough funds to pay off current mortgage and buy out the share you want

If there is a mortgage but the equity transfer is being done as a gift, such as a parent gifting the property to their children, with no money being exchanged, then consent from the lender is needed.

Is There Stamp Duty To Pay?

The answer is yes, potentially, if the property has an outstanding mortgage.

By adding a name to a title deed when the property has a mortgage, the new person is taking a share of the responsibility for the existing mortgage on the property and agreeing to pay off the mortgage debt. This means also taking on the required stamp duty land tax for that amount too – the stamp duty owed will be calculated based on the value of the mortgage and their share of the property.

If there is no mortgage on the property, no stamp duty is owed.

How We Can Help You With Your Transfer Of Equity

How a transfer of equity works depends largely on each individual situation, which is why we always recommend clients seek legal advice before starting the process. We always work hard to complete an equity transfer in the most efficient way, while acting in the best interests of our clients.

Transferring equity can be an overwhelming experience for homeowners. However, by providing professional and tailored guidance, our conveyancing solicitors will ensure your equity transfer is as straightforward and stress-free as possible.

To speak to one of our specialist conveyancers about a transfer of equity or changing the names on the title deeds of a property, please contact us on 01244 311 633 or email advice@bartletts.co.uk

Alternatively, you can Make An Online Enquiry and one of our team will be in touch with you as soon as possible.

 

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