Residential Conveyancing

Conveyancing is the process by which the safe, speedy and efficient transfer of ownership in land and property is made between a seller and a buyer.

Conveyancing is at the heart of what we are passionate about. Whether you are buying, selling, re-mortgaging or buying to let, we will provide you with a fast, efficient and affordable service.


We take care of all aspects including:

Buying

What are the typical steps in purchase a residential property either for your main residence, an investment or, for a buy to let?

  • Investigating the title to the property, including carrying out relevant searches;
  • Reviewing replies given by the seller to pre-contract enquiries;
  • Negotiating a purchase contract and transfer document;
  • Advising you in respect of any mortgage offer;
  • Preparing a report on title;
  • Proceeding to exchange of contracts and then completion of the purchase;
  • Transferring funds to the seller’s solicitors and for relevant taxes;
  • Submitting to H M Revenue and Customs although you should note that we do not give tax advice and you should check that the Stamp Duty Land Tax calculation is correct;
  • Registering the property and any mortgage at the Land Registry.


Selling

Typically, the following steps apply with the sale of a residential property:

  • Considering your initial paperwork including protocol documents, guarantees, planning and building regulation documents (list not exhaustive) and preparing and issuing a contract and associated legal pack for submission to the buyers solicitors
  • Assisting and dealing with relevant enquiries raised by the buyers solicitors in regards to the legal title and relevant searches
  • Liaising with you and responding to regarding pre-contract enquiries;
  • Negotiating the sale contract and transfer document;
  • Obtaining redemption statements for any and all registered legal charges on the property;
  • Obtaining information from any applicable Landlord and/or Management Company;
  • Proceeding to exchange of contracts and then completion of the sale;
  • Transferring funds to any applicable mortgage lenders, estate agents and third parties and accounting to you for the final balance due;
  • Assisting the buyers solicitor with registering the property at the Land Registry if required.

We will ensure that you are fully informed and comfortable with how the transaction is progressing, and keep you up-to-date with what your options are. It is important to remember that until contracts are exchanged either party may withdraw from the transaction.


Remortgaging

We can assist in ensuring the remortgaging process is handled correctly and efficiently. Our team can help with matters including:

  • Checking the legal title on behalf of you and your new mortgage lender
  • Requesting a mortgage redemption statement from your current lender
  • Reviewing your new mortgage offer and reporting to you on the terms thereof and arranging signature of all required paperwork
  • Transferring funds to any applicable mortgage lenders, estate agents and third parties and accounting to you for the final balance due;
  • Updating the Land Registry with the details of your new lender


Transfer of Equity

A transfer of equity is adding another party to or removing them from legal ownership of a property. This could be a sole owner adding a husband or wife, a parent, son or daughter or a couple separating and removing one party from legal ownership and/or adding another party thereto.


Help to Buy ISA

The Help to Buy ISA closed to new accounts at midnight on 30 November 2019. For those who already opened a Help to Buy ISA (or did so before 30 November 2019), they will be able to continue saving into your account until November 2029 and to claim their 25% government bonus by November 2030.

At Budget 2015, the government announced the Help to Buy: ISA to support people saving up for their first home. First time buyers who choose to save through a Help to Buy: ISA are eligible for a government bonus of up to £3,000. We will apply for the government bonus on your behalf. It is recommended that we begin your bonus application approximately three weeks before expected completion. This will allow sufficient time for you to close the Help to Buy: ISA and receive your closing letter from your ISA manager, and for the scheme administrator to transfer funds.

To complete the bonus request, we will need the following from you:

  1. Help to Buy: ISA closing letter: this will include details of you and your Help to Buy: ISA, including your closing balance and account number.
  2. First-time buyer declaration: you will need to sign a first time buyer declaration , confirming that you do not own, and have never owned any interest in land anywhere in the world.
  3. Confirmation of property eligibility: We will have to confirm that the property which you are purchasing is being purchased for:
  • A sum not exceeding £450,000 inside London, or;
  • A sum not exceeding £250,000 elsewhere in the UK.
  • The property must be purchased as your only residence, and;
  • Must be bought with a residential mortgage.

Full property eligibility criteria can be found within the scheme rules at: www.ownyourhome.gov.uk/scheme/help-to-buy-isa/ . We will need at least 5 working days’ notice and the above information to obtain the bonus funds.

Please be aware, once we are in receipt of the bonus, if this is not used within three months of receipt from the scheme, they must be returned.


Lifetime ISA

From 6 April 2018 funds (including any bonus) can be withdrawn from a Lifetime ISA to put towards a first time residential purchase if:

  • the property costs £450,000 or less
  • the withdrawal is no more than the purchase price of the
  • property
  • the investor will live in the property
  • the property is being purchased with a mortgage
  • the property purchase is at least 12 months after the first payment was made into the Lifetime ISA
  • the purchase must be a legal interest in land in the UK with a view to the investor becoming a residential property owner

If the investor has a Lifetime ISA and a Help to Buy ISA, they can only use the government bonus from one of them to buy their first home.

Please visit: www.gov.uk/lifetime-isa .


Land transactions

We can act for buyers or developers in relation to land transactions whether you are developing, selling or purchasing land for residential purposes. Our experienced team will work with you to achieve the result you require whilst keeping within a set budget and ensuring you are kept fully aware of the process and any associated risks. We are able to act for large development sale of plots transactions or a one off sale of residential building land, give one of our team a call if you would like to discuss further.


Repayment of Help to Buy Loans

We are able to act for repayment or staircasing of Help to Buy Equity Loans as well as transferring ownership subject to such a scheme, we are familiar with the process and requirements of the government agencies in this regard. Please contact one of our team to discuss this further and visit:

www.gov.uk/government/publications/repay-your-help-to-buy-equity-loan

Give us a call to discuss this service further

Wakefield:
01924 291111

Barnsley:
01226 794140