Buying & Selling Residential Property
Buying & Selling Residential Property
Are you buying or selling a property? If so, Harold G Walker are here to help you.
The buying and selling of your home often referred to as conveyancing, can be a challenging time. Whether you are a first-time buyer, buying and selling your family home or an investor, the specialist team of Conveyancing Solicitors are here to help you through the process. With vast experience of Sales and Purchases of both Freehold and Leasehold properties, their aim is to help you in an efficient and friendly manner.
Harold G Walker want to make your house move as easy and stress-free as possible. This will be achieved by communicating with you, the agent and, if necessary, your financial adviser as regularly as needed throughout the transaction.
The useful Definitions for Conveyancing page covers many of the terms used in the conveyancing process. For further information or questions you may regarding buying and selling property, please contact a member of the Conveyancing team.
Why choose Harold G Walker?
- HGW do not pay referral fees- reducing the cost to you
- HGW provide a first class, one stop conveyancing service
- HGW’s Solicitors and Lawyers are fully qualified and together have over 100 years experience
- HGW are on all major Lender’s Panels so can act for you when taking out a mortgage
- HGW are also member of the Government’s Help to Buy scheme
We are also able to help you with:
Should your current mortgage product be coming to an end, it might be time to remortgage your property. This could be on your own home or an investment property, to ensure that you are getting the best rate possible for the term of the mortgage. Harold G Walker can deal with the legal side of remortgaging for you. All you need to do is give our details to your new mortgage provider or financial adviser. Once you instruct us, we can process the transaction quickly as soon as the new mortgage offer is received.
Sometimes when you buy a property jointly each party makes an unequal contribution, or a third party may have helped contribute towards the purchase price. Therefore it may be necessary to have a Trust Deed which will set out a declaration as to the way the property is held between the parties.
You may think these are just for unmarried couples, but this is not the case and are sometimes necessary for married couples too. The team of experienced Conveyancers have the specialist expertise to advise you and set up a Trust Deed.
Transfer of Equity
A Transfer of Equity literally means just that- you are transferring some of the equity in the property from sometime two names to one name, vice versa, or adding a new person to the title deeds. This is often done as part of a matrimonial settlement.
When there is a mortgage involved, the mortgage company will also have to consent to the Transfer of Equity. Surprisingly there can sometimes be Stamp Duty payable on a Transfer of Equity and we can advise you of this at the outset of the transaction. However, if the Transfer is made pursuant to a Consent Order as part of the divorce/separation proceedings, then there is usually no Stamp Duty payable.
The Conveyancing team will be able to advise you and explain your options clearly.
Lease extensions can usually only be granted to a flat owner if they have owned the property for at least two years. You are then entitled to a lease extension of 90 years, on top of the outstanding term, and a zero ground rent, for a premium paid to the landlord. This premium is calculated by a specialist surveyor.
Legislation governs the process and neither the landlord (freeholder) or tenant (lessee) can avoid this. The tenant is obliged to pay all fees incurred by both parties.
However, sometimes the landlord may agree to a lease extension outside of the legislation. This can be cheaper, with less fees involved, but may not always grant you the same term as the legislation. Whether you are the landlord or tenant Harold G Walker can advise you on the best way to negotiate matters to reach a desirable agreement.
There are some schemes available whereby you can purchase a percentage of a property if you cannot afford to buy your first home. The most common scheme is where you purchase a percentage of the property and a housing association owns the remaining share, for which you pay rent. You would usually own anything between 25% and 75% of the property’s market value. During your period of ownership, you can purchase more shares in the property, called staircasing, and this would also affect the rent you pay.
Harold G Walker can advise you on the Stamp Duty position when purchasing a shared ownership property because whether or not this is payable will depend on certain circumstances. The team of experts will guide you through the process of Shared Ownership and explain your options clearly.
Equity Release is where a homeowner releases some of their equity in their property to give them some additional cash. These monies can be used for your own purpose. The conveyancing team offer specialist advice, working in conjunction with your financial adviser to provide a professional, efficient and friendly service.
If you are considering Equity Release speak to a member of the Conveyancing team who will be happy to advise you and explain your options.
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“Jane Colver was fantastic during what turned out to be a very stressful move.”
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“Thanks very much for your services in the sale and purchase of our properties. Very happy.”