If you want to buy, sell or remortgage a property, you need to be able to rely on your solicitor. An expert in conveyancing (the legal process of transferring a property from one owner to another) will help you navigate the complicated legal processes involved. Different types of property and transactions need different kinds of expertise. We can help you manage your property successfully, including buying and selling a home, buying to let, and other property investments.
Buying A Property
Whether you are buying your first house, moving home, or adding a property to your portfolio, buying a property can be both exciting and stressful and exciting. It also has major financial implications, so you need to have an experienced solicitor on your side to manage all the legal aspects. Your conveyancing solicitor will guide you from pre-contract stages right through to completion as smoothly as possible.
Selling Residential Property
Selling a property can be stressful and confusing. Whether it’s a private sale or you are using an estate agent, you need a good solicitor to make the process as straightforward as possible. They will guide you every step of the way and ensure that all of your legal obligations are fulfilled. From mortgage obligations to searches and buyer enquiries there are many hurdles to clear before completion. Your solicitor will help you get your house sold quickly and efficiently.
Remortgage
Remortgaging involves paying off one mortgage with the proceeds from a new mortgage using the same property as security. People often remortgage their properties to move to a cheaper lender, consolidate debts, or finance home improvements.
Your solicitors can provide guidance whether you’re remortgaging to get a better deal, borrow more money, or because your circumstances have changed (due to divorce or relationship breakdown, for example).
Transfer of equity
The legal process for changing the legal ownership of a property is known as a transfer of equity. Expert legal advice is crucial when transferring equity because circumstances can change dramatically for you and anyone else involved. Equity can be transferred for reasons including:
- Cohabitation arrangements have changed (e.g. divorce)
- Court order
- Property is being gifted
- Transfer of property between family members
- Formation of a trust
How we can help with your conveyancing transaction
- We will advise you legal issues related to the property’s legal title.
- We will assess the property’s planning status, and, if we find title or planning deficiencies, we will advise you on possible remedies.
- We will help buyers with loans, mortgage completion, and the delivery of property title deeds to the bank once the conveyancing process ends.
What Is Conveyancing?
The term “conveyancing” appears a lot in legal discussions of property transactions, but what does it really mean? Conveyancing simply refers to the legal process of purchasing and selling property, including land, houses, apartments or commercial buildings such as hotels, factories, and office buildings. At HOMS Assist, our conveyancing solicitors will give you all the advice you need regarding your legal rights and obligations.
What Are Conveyancing Searches?
Your solicitor must complete certain legal searches when acting on your behalf in the conveyancing process for purchasing your property. These may include:
- Planning search: This identifies whether the property is zoned residential, commercial or otherwise; whether there are proposals for road widening in the area; and whether any applications for planning permission in respect of the property have been granted or rejected. A planning search requires a land registry map of the property being purchased. The information is available to any potential purchaser from their local authority planning office.
- Licensing search: This applies to pubs and hotels.
- Compulsory Purchase Order(CPO) Search: This can be made with local authority. If a CPO has been made, the vendor cannot give good title.
- Judgment search: This will yield the results of any judgments registered against people with the same names if the creditor had the judgment registered in the Central Office of the High Court.
- Land Registry search: This is a search in the land registry section of the Property Registration Authority to establish the current legal ownership of the property, the title, whether it is leasehold or freehold, the existence of mortgages, rights of residence, Judgment Mortgages, lis pendens (litigation pending), dealings pending, rights of way, or other rights that could be registered appearing on the land registry folio.
- Company office search: This is a search made in the Companies Registration Office to confirm that a company exists and remains on the register. It will also disclose any charges against it and the existence of a winding-up order or petition. It is normal on closing to get a certificate from the Company Secretary certifying that no resolution has been passed.
- Bankruptcy and foreign bankruptcy search: This search generally follows a judgment search. If a person trying to sell a property appears to have been adjudicated a bankrupt, the property is no longer theirs to sell.
- Sheriff and revenue sheriff searches: These are searches with the local sheriff’s offices to find out whether a judgment decree has been lodged for execution and recovery of monies due on foot of a judgment.
- Registry of Deeds searches: This is a search as against the title to unregistered title.
