BUYING AND SELLING YOUR HOME
Moving home is one of life's most stressful challenges and with three quarters of UK homes owner occupied, most of us will be buyers and sellers at some point in our lives. A calm, focused Conveyancer can make all the difference in the matter, keeping the process smooth and under control. We remain impartial throughout, offering crystal clear advice from the start, through all the legal and technical details, until completion and beyond if necessary. Whether buying or selling, we will ensure you are aware of everything pertinent to the sale and will carefully monitor the transaction throughout. If you are buying a property, it's our duty to ensure everything is ready for your moving in date, and we go to great lengths to fulfill this duty. This means carefully managing the transaction from the start, beginning with the best advice on which type of survey you require before making your offer. We will make sure any financial queries you have are properly answered, such as the amount you put down as a deposit, or any specific mortgage conditions, or stamp duty and leaseholder notice fees which will affect the cost of buying and keeping your home. If you are selling, we will keep that all important regular contact with the buyer's solicitor and draw up the necessary property forms and fixtures and fittings lists that will smooth the sale. We can advise on any estate agent's fees and check any agreements they have asked you to sign. We'll be on hand to finalise the deal, provide the Deeds for signing and will remain involved until everything is settled.
SHARED OWNERSHIP PURCHASES
Buying a shared ownership property is a popular option for many first-time buyers and this is a great way for many people to get onto the property ladder. The process is similar to buying a leasehold flat. However, there are rather more rules to consider and it is important that buyers are fully informed of what these mean. Mundy's has particular expertise in guiding clients through the conveyancing process for shared ownership properties.
If you would like an estimate then please complete our enquiry form or call us on 01432 265630. We are happy to give you initial advice to help you understand the implications, the procedure and best course of action, before deciding to go ahead.
TRANSFER OF EQUITY
Property owners may wish to change the legal ownership/status (transfer equity) of their property for a number of reasons ie. Marriage, Divorce or Separation, Tax Planning. Whatever the reason for the transfer what may appear to be a simple arrangement can be quite complex and therefore legal advice should be sought.
Transferring property and retaining the existing mortgage (Transfer Subject to Mortgage). If the property is mortgaged and the property owner intends to keep the same mortgage they must seek the approval of the lender to the transfer before we can prepare the documentation and finalise matters.
Transfer and Remortgage. You may decide that it will be more profitable to remortgage the house, and take advantage of a better rate of interest. This process can be combined with the transfer of equity and is known as a transfer and remortgage. A large percentage mortgage may equal no equity, which means that the outgoing owner receives no payment, but is simply released from the commitment of the mortgage contract.
When you decide to re-mortgage you will need to have a Licensed Conveyancer to carry out the legal work involved. Your bank or building society will allow you to choose a Licensed Conveyancer/Solicitor of your choice. Your choice of Licensed Conveyancer/Solicitor will influence how quickly and efficiently your transaction is carried out. With our computer support facilities and case management systems we are able to offer our clients a cost efficient service.
Commercial property matters, though superficially similar in some aspects to the domestic conveyancing familiar to private clients, are in reality radically different both in their technical aspects, and in ways in which the transactions need to be conducted. They demand a business mind applied to the issues surrounding not only the matter itself, but the broader business needs of the client. At Mundy's we try to understand your business needs, and to give each matter the priority the client seeks. We seek to strike the right balance without compromising the thoroughness needed to conduct complex affairs.
Amongst the transactions with which we can assist are:
- Lease assignments
- Lease renewals and variations
- Freehold purchases and sales
- Estates and developments
- Commercial remortgages
- Business sales and purchases
Since we appreciate the need to meet clients' business needs, we will discuss at the outset what we expect any transaction to involve in terms of steps, anticipated obstacles, strategies and costs. We know that client are not always aware of all the issues in a case from a legal point of view, and we will try and make these clear to ensure that any timescale can be achieved realistically.
ASSURED SHORTHOLD TENANCY AGREEMENTS (ASTs)
As part of the Housing Act 2004 the Government introduced tenancy deposit protection for all Assured Shorthold Tenancies (ASTs) in England and Wales where a deposit is taken. From April 6th 2007, all deposits paid under an AST have to be protected within 14 days of receipt by the Landlord.
The legislation aims to ensure that tenants who have paid a deposit to a Landlord or Letting Agent and are entitled to receive all or part of it back at the end of their tenancy, actually get it.
We are registered with The Deposit Protection Service (The DPS). It is the only scheme that is free to use. Funds are secured with a trusted high street bank, so for safe, secure and straightforward deposit protection, the DPS is ideal.
With effect from 1st October 2008, all rental properties with a new or renewed tenancy in England and Wales will be required to have an E.P.C. An E.P.C. looks similar to the energy label found on most domestic appliances and gives prospective tenants an idea of the energy efficiency of your property. Rated on a scale of A to G (where A being the most efficient). Current running costs for heating, hot water and lighting will also be shown on the certificate, together with a list of recommended energy saving improvements. The landlord will have a legal obligation to obtain an E.P.C. prior to marketing and once you obtained one it will be valid for 5 years.
Please contact us for our quote for preparing your AST and arranging your EPC.
WILLS & PROBATE
If you don't make a Will your Estate may not go to the people you want it to go to. The future of your family may depend upon your having prepared an effective and legally valid Will. With our specialist knowledge of property, trusts and tax law we can help you to ensure that your estate passes to the people you want it to go to in the most effective way.
We also have considerable experience in the field of Probate. This is the process of proving somebody's Will and Administering their Estate so that the wishes expressed in the Will are carried out. It can be quite complicated, and it frequently needs a specialist's help.
We are happy to discuss any aspect of Wills or Probate. Call us on 01432 265630 to make an appointment with either Alun Richards or Nick Mundy.