Conveyancing

What we can do

We offer a full range of conveyancing services to make buying, selling or leasing property a smooth and seamless experience. We shall explain the process in staightforward language so you can follow the process at each stage and know what to expect.

Conveyancing Services:

• Residential sales and purchases
• Commercial leases
• Mortgages, remortgages and equity release
  
• Gifts of property and transfers into joint names
• First registration of title and more
  

Is your property registered?

A large number of properties in the Stapleford area are not registered with the Land Registry...

If your property is not registered with the Land Registry, then the only way that it can be proved that you are the owner of the property is the examination of your Title Deeds. If your property is registered, an Official Copy of the Register and Title Plan for your property can be obtained from the Land Registry - This can be used as proof of ownership of your property in substitution for a bundle of deeds.

A sale could be lost as a result of delays and problems with the Title documents. Having a Land Registry official copy avoids this. The Land Registry welcomes voluntary registration of properties. Land Registry fees are lower on voluntary registration than those that would be applicable in respect of transferring the property. If you carry out first registration of your property before you sell, you are much less likely to have conveyancing-related problems in connection with your sale than if your property was unregistered.

Looking to retirement?
Even if you are not looking to move house there is another good reason for voluntarily registering your property with the Land Registry. You may want, at some point, to release some of the equity locked up in your home by taking out an equity release mortgage, which is a mortgage that is repaid upon your death or when you permanently move into residential care. You are likely to receive the funds from an equity release mortgage more quickly if your Title is registered as opposed to unregistered.

How we can help you...
The likely cost of first registration of a property is in the region of £500, which at face- value may seem quite a lot. However, this could be a very small sum in comparison to the amount that could be lost if a sale fell through as a result of delays and problems with your Title to the property. And we can handle the legal work on an equity release mortgage too.

We can easily establish for you if you are unsure, whether your property is registered or unregistered with the Land Registry.

Contact  William Skinner or Val Goodwin. Click on the link to send an e-mail to us or phone 0115 9491141

Negative Equity

Do you want to sell your property but seem trapped because you owe your mortgage lender more than it is currently worth?

There may be a way out!

Given the reduction in house prices over the last 12 to 15 months, many home owners now are close to or are in negative equity. This means that the amount that the homeowner owes to their mortgage lender is more than the current value of the property. It could easily be the case that you are in this situation and may want to sell your property particularly if you are experiencing financial difficulties.

It could be the case that your lender will agree to what is termed an “Agreed Shortfall”. This means that it will allow you to sell your property on the basis that some of the money that you owe it will be paid back, after you have completed your sale, on an unsecured loan basis. The advantage to you is that if you are in financial difficulty and you sell the property at an Agreed Shortfall, the amount of debt from the sale that you are likely to have is much less than would be the case if the property were eventually re-possessed by the lender and sold.

Statistically, a property that is sold by an owner-occupier obtains a much better price than a property that is sold by a lender in possession. Also, if the property is sold at an Agreed Shortfall, then it is much less likely that there will be an adverse effect upon your credit rating than if you fall seriously into arrears and your property is re-possessed and sold by your lender.

If you are in negative equity and are considering selling your property then William Skinner at this office would be happy to discuss with you the initial steps that you should take.”

What you should know

• Although the new Government has abolished Home information packs you still need  to provide an energy performance certificate when you sell
  
• We can arrange for one to be prepared for you at a very reasonable price
• You should contact us if you are thinking of marketing your property; as
  
• We can provide the EPC and our conveyancing services whatever estate agents you use. You need not feel obliged to use other solicitors suggested by the agents

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