Residential Property

Owning a property is likely to be one of the biggest investments you will make in your life, and it is important to have the right advice when it comes to buying, selling, or reinvesting. Our solicitors can guide you through the stages and ensure that all the necessary legal elements are addressed and carried out correctly.

You will be assigned a solicitor who will deal with your transaction throughout, taking the time to understand your individual goals and requirements, and keeping you informed at every stage. As part of our service, we also outline all the financial costs involved in your transaction at the outset, including our fixed fees, with no hidden extras. All of the financial transactions we deal with are regulated by the Solicitors Regulation Authority.

Our solicitors have a wide range of experience in dealing with a variety of residential transactions from high net worth to shared ownership matters.

 

Conveyancing Quality Scheme

 

Ascot Lawyers is now accredited by the Law Society's Conveyancing Quality Scheme.

We currently provide the following services.

 
 

Selling

We have experience in the sale of freehold and leasehold properties and the sale of land, and can handle the process completely from start to finish. This includes liaising with the buyer and their estate agent, ensuring that all the legal stages and paperwork are completed, scheduling completion and moving dates, and dealing with all financial transactions including land registry search fees, mortgage payments and the transfer of purchase monies. We can also advise you in the event of any problems that should arise during the sale of your property, such as a claim on the land title or issues discovered in a property survey.

If you are selling your property and buying a new one at the same time, we can deal with this together, scheduling the different stages to ensure a smooth transaction throughout the chain, and saving you time and money in legal costs.

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Purchasing

We have experience in assisting first time buyers, landlords who are buying to let, and people who are simply moving home to buy a new property. Our service includes liaising with the seller and their estate agent, ensuring that all the legal stages and paperwork are completed, scheduling completion and moving dates, and registering you as the owner of your new home. 

At the outset, we will provide you with an outline of the total costs of buying your property including our fees, taxes and duties, to help you plan your move. We also deal with all financial transactions, including land registry search fees and stamp duty land tax. If you are financing all or part of your property purchase with a mortgage, we can deal with this directly with your mortgage company.

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Remortgaging

Remortgaging is the process of transferring what you owe on an existing mortgage to a new one. This can be done for many reasons, such as reducing the cost of monthly repayments, to switch between a variable or fixed rate to get a better deal, or to release equity from the property if it has risen in value. Mortgages are a long term commitment, and it is important to consider all aspects of potential agreements to decide if remortgaging is the right option for you. Our solicitors can offer informed and independent advice about the options available to you and help you to make an application for a new mortgage. We can also handle all elements of the legal process and the transfer of funds once the remortgage is complete.

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Renting

When renting out your property, there are many legal areas to consider such as the contract between you and your tenant, holding a deposit, tax liabilities, how to mortgage the property, and how to deal with a disagreement with tenants.

Our solicitors can advise you about the terms of tenancy that you should consider and draft tenancy agreements that outline the rights and responsibilities of both you and your tenants. This includes assured shorthold tenancy agreements which usually last for at least a six month period, and assured tenancy agreements, which are more commonly used by housing associations and registered social landlords.

In the case of a disagreement or breach of tenancy agreement, we can also advise both landlords and tenants on their legal rights, and help to resolve the dispute. This may be by reviewing the legal terms of your contract, adapting your tenancy agreement, negotiating a solution, or if necessary, taking the matter to court.

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Transfer of Equity

A transfer of equity is where the owner of a property wants to add or remove another owner to or from the title deeds. The owner will need to consider how this will affect any mortgage funding on the property, including whether a new owner will be approved for credit, and whether the repayments are affordable for the remaining owner if one is being removed. Our solicitors can advise you on funding an equity transfer, and handle the legal process, including applying to the land registry to make the necessary amendments to the title deeds.

In some cases, a transfer of equity may incur stamp duty land tax. This is because, even if no cash payment is being made from one party to another, one person is effectively assuming a share of the property equity or mortgage debt. We can advise you on whether you are liable to pay stamp duty land tax, and include this within the transfer of equity process.

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If you have any questions or would like to talk with us or arrange a free initial telephone consultation, please call us now on 01344 512370 or email: enquiries@ascotlawyers.co.uk.

Alternatively, complete our contact form and we'll get a relevant member of our team to contact you.