Sales
We can assist on sales of all types of properties: - leasehold, freehold, shared ownership properties, parking spaces and other pieces of land.
Purchases
We can assist with all types of residential property purchases: - leasehold, freehold, shares of freehold, purchases of shared ownership, shared equity and purchases under any other form of affordable housing scheme.
Re-mortgages
We can assist you with the legal work involved with switching your mortgage lender. You may be raising equity or merely processing a re-mortgage to obtain a more preferential rate.
Transfer of Equity
We can assist you if you wish to add a beneficial owner to the title deeds. Likewise you may wish to arrange for a co-owner to be bought out with his or her name being removed from the title deeds.
Declaration of Trust
This instrument is an agreement which sets out the terms of ownership between two or more people. If the property is held as 'joint tenants', the law will presume 50/50 ownership. This means in the event of one party losing their life, the other will be able to deal with the deceased share as they wish. When a property is purchased by friends or unmarried couples it is invariably held as tenants in common in equal or unequal shares. Where this is the case it can be prudent to draft an agreement setting out each parties contribution towards the purchase price and what contributions will be made towards the mortgage and bills. A declaration can also provide for how the proceeds of sale will be split as well as provide for an option for first refusal.
Auction
We can assist with auction purchases by reading the legal paperwork before auction and providing advice and a report on title. This will ensure that the prospective purchaser is able to make an informed judgement prior to bidding at auction.
Right to Buy
Under such schemes long standing tenants are given an opportunity to purchase their home at a discounted rate. We can assist with purchases under right to buy schemes from local Councils and Housing Associations.
Staircasing
This is the process where owners of shared ownership properties are able to increase the percentage that they own. We can assist in ensuring that the relevant documentation is prepared and executed correctly along with dealing with any stamp duty implications.
Acquisitions of Freehold reversions
We can assist where the freehold reversion is being purchased by one or more of the leaseholders. The freeholder may have agreed to sell the freehold on an informal basis or in compliance with the Section 5 procedure. Alternatively, it may be a case of the majority of the leaseholders joining forces in an attempt to force the freeholder to sell the freehold to them under current Enfranchisement legislation.
Lease extensions
We can assist with agreements to extend the lease term. The agreement could be a simple informal agreement where the freeholder agrees to accept a nominal premium in order in return for granting an extension with the existing lease being varied by a Deed of Variation. Alternatively, it may be a grant of a formal 90 year lease extension in line with current Enfranchisement legislation.
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