Category: Transfer of Equity
Extending a residential lease
As a leaseholder of a flat, you have the right to extend your lease if you have lived there for two years or more. Even if you have not lived there for this length of time, the freeholder may still be prepared to agree to a lease extension, although you will not be able to...
Reasons why you may have red flags in your AML checks as a homebuyer
When you buy a property, your solicitor is required by law to carry out an anti-money laundering or AML check. They may ask a third party to do this on their behalf and report back to them. AML checks are intended to try and reduce money laundering that can come from illegal trade and could...
Buying a property with friends
With property prices remaining high, you might be considering buying a home or investment property with one or more friends. We take a look at the implications of doing this and the precautions you need to take. For many young people, saving for a deposit for their first home is a challenge. Without the help...
Stamp Duty changes September 2022 explained
In September 2023, chancellor Kwasi Kwarteng announced changes to rates of Stamp Duty payable on property purchases in England and Northern Ireland. Although tax cuts announced at the same time were subsequently withdrawn, the Stamp Duty changes remain in effect. The new rates of Stamp Duty will mean less tax will be payable for some...
How does a gifted deposit for a house purchase work?
With house prices continuing to make buying a first home difficult, many people are given money towards the purchase by parents and other close relatives. When using a gifted deposit there are a number of steps to go through to satisfy lender and other legal requirements. You should also consider the legal implications of a...
Should I buy a house with solar panels?
Many homes now have solar panels and with energy bills a concern, they are more attractive than ever. But before you commit to buying a home with solar panels already installed, there are certain points you need to be aware of. Solar panels provide free or cheap electricity for your home and reduce the need...
What are the legal implications of Airbnb-type short lettings?
With the increase in popularity of short lets, such as via the Airbnb website, it is important to understand the legal implications, to include whether this type of short-term letting is permitted for leasehold properties and what preparations need to be made to protect your property and restrict your liability. While it is relatively easy...
Can you exchange contracts and complete on the same day?
If you are buying or selling a property, the agreement does not become legally binding until contracts are exchanged. We take a look at what this means and whether exchange and completion can happen simultaneously. When someone buys a property, there is a substantial amount of work to be done beforehand. All of this must...
Enforcing restrictive covenants
Most properties are subject to restrictive covenants. We take a look at the law surrounding them and whether they can be enforced. Restrictive covenants require landowners not to carry out certain acts in respect of their property. For example, not to construct anything forward of the building line, not to park a caravan on the...
