A Deed of Substitution or Deed of Substituted Security is a document that enables a lender’s charge on an existing title, despite the value of the remaining financial interest in the property they continue to own, to transfer to a new one. For example, if the...
We have all seen the headlines and watched as devastated homeowners try to salvage their belongings from their flood engulfed home. Not only that, but flooding can also ruin your property. In some cases, it can even force people out of their home for months...
If you are purchasing a property and it isn’t your first, chances are you will be in a property chain. For many, this can be an unpredictable time, fraught with anxiety and stress. But what do property chains actually involve and what can you do...
When someone dies, all their property and assets such as money, investments, and their home come together to form what is known as their “estate”. All these assets must be disposed of according to the terms of their Will if one exists and under the...
On 19th April 2021, the Government launched a new mortgage guarantee scheme designed to increase the number of buyers who have only saved a small deposit or have limited equity in an existing property. The good news is that several major lenders have joined the...
Introduced in 2017, Lifetime Isas (Lisa) were targeted towards the younger generation, offering them the dual purposes of saving to fund the purchase of their first home, and funding later life income. To encourage saving, the government offers a bonus of 25% on sums deposited...
If you want to give your conveyancing solicitor a stomach-churning moment, all you need to do is mention the term “flying freehold”. Discovering the existence of a flying freehold strikes fear into the heart of the most experienced lawyer because without mutual rights between affected...
WHAT A PROPERTY SEARCH CAN REVEAL When a property search is being undertaken, usually when some one has made an offer which has been accepted, the legal team apply to the Land Registry and make a search. These searches can reveal any number of things, including Notices...
WHAT IS THE HELP TO BUY EQUITY SCHEME? The original help to buy equity scheme which was launched on the 1st April 2013 and was expected to end in 2021. The government recently announced that it is to be extended until 2023. The extension, from 2021...
I can hear the collective groan at the dreaded words, legal searches, but are they misunderstood. If we know what they were for and what they did would we like them a little bit more and understand why they are so important? Among many other things...
