We are going to take a very brief look at answering the question, is Equity Release a popular lending option? What is Equity Release? Equity Release is a relatively new product to the financial market, and it has been rebranded as ‘Lifetime Mortgage’ over the last few years. ‘Home reversion plans’ still exist as a…
The Early Stages Have you instructed a conveyancer? No… Find one here. Booking a Removal Company The first thing you need to do is decide whether you are going to pack yourself or have a company do this for you. Yes, this service does exist and does come with a cost. Once you have decided…
Starting this week, the Land Registry has said that they will accept electronic signatures that are witnessed for the transfer of property ownership, mortgages, and leases. This approach will pave the way for the entire conveyancing process to be completed digitally going forward. To sign deeds electronically, they must first be uploaded to an online…
The real threat of another COVID-19 outbreak will make people less tolerant of a paper-based approach to conveyancing. In the Land Registry’s latest annual report, chair Michael Mire predicted a shift to digital conveyancing in the coming years. The Land Registry will begin by digitizing the most common transaction types such as removing a mortgage,…
The stamp duty holiday was announced by the chancellor not too long ago. Usually in England, you would be expected to pay Stamp Duty Land Tax (SDLT) on increasing portions of a property’s price above £125,000.00. This is calculated differently during the period that the relief is applicable. In a bid to kickstart residential conveyancing,…
Why should I consider Equity Release? Picture this, you are close to retirement and struggling for cash (or you simply want to a more comfortable requirement) and own your own home. Equity release is simply a way to unlock the value of your property and receive a large cash sum. For some people, this is…
When multiple people own property or Land, this is known as being co-owners. There are two different types of Co-owners: Joint Tenants and; Tenants in Common Joint Tenancy In a Joint Tenancy, each person has a unified share in the property. Therefore, under a Joint Tenancy, each and all the co-owners are equally entitled to…
What is Conveyancing? Conveyancing is the legal term used to describe the legal and administrative work that is required to be carried out when transferring a property from one party to another. How long can the conveyancing process take? The process can take between 8 and 12 weeks from the date of instruction, but in…
What are cavity walls? Cavity walls were first introduced into the UK in the late Nineteenth Century. They were presented as a method of tackling wind-driven rain for penetrating the solid brick walls of homes located on the west and southwest coasts.Cavity walls became popular in construction generally, when it was discovered that the gap…
What is Professional Negligence? Individuals and businesses can regularly require the assistance of a professional, individual or firm. The assistance could be to provide support and/or advice to achieve a task that they are unable to undertake themselves. This may be because the skill or knowledge involved is specialised to a greater degree than…
Lewis Walker
Butterworths Solicitors
Matt