If you wish to a buy another house, either to rent out, as a second home, for your children to live in, or for any other reason, borrowing against your current home can be a good way to raise the necessary money. There are potentially 3 ways to do this: ...
If are planning to move and rent out your old home, a common concern is what to do about your mortgage. Many people do not realise that it is usually a condition of any residential mortgage that you need to let your lender know if you wish to rent your...
Whether you are a landlord or tenant, there are various circumstances where you may wish to end a tenancy agreement early. It might be that as a landlord you want to sell the property or as a tenant that you need to move for work or personal reasons. ...
Exactly how long it takes to buy a house depends on various factors, including how quickly you can find the right place and how quickly you can find a buyer for your own home (unless you are a first time buyer). However, if you have found the right property...
If you need to transfer the ownership of a property, such as when getting divorced, having a mortgage can make things more complicated. While it is perfectly possible to transfer ownership of a property with a mortgage, the mortgage will either need to be...
When buying a leasehold property, its value will depend on how many years are left on the lease. The shorter the remaining time, the less the property will be worth. If you own or are considering buying a leasehold property, understanding your right to...
Shared ownership can be a good way for people to buy a home who otherwise couldn’t afford to as it allows you to buy a percentage of a property and pay rent on the remainder. This means you can get on the property ladder for less and pay a reduced rate...
The government has announced plans to tackle “unfair and abusive” practices within the leasehold system, including banning leaseholds for most new build houses. These plans will only affect houses and not leasehold flats. The new measures...
Equity release can be an attractive way to fund your retirement, allowing you to unlock some of the value tied up in your home as a tax-free lump sum. Many people use this money to pay off debts, fund home improvements or other plans to make their...
Downsizing is a popular choice for older people, especially those who are retiring or whose children have left home and therefore no longer need as much space. Moving to a smaller, cheaper home offers a number of advantages, including releasing capital,...
There are somewhere in the region of half a million listed buildings across England and Wales with the number increasingly all the time. While these buildings are often highly attractive places to live, full of history and character, there are a number of...
Conveyancing is the name for the legal process involved in buying or selling a property, as well as a variety of other property transactions, including remortgaging and lease extensions on leasehold property. The process is usually handled on your behalf by...
When buying a new home, you take a big risk if you don’t properly investigate the property and any issues it might have. Failing to identify problems up front can mean you end up overpaying for a property, being left with unexpected expenses or being...
Once an offer is made and accepted on a property, you may think the price agreed is a done deal. However, there remains room for manoeuvre on both sides of the deal, meaning the buyer can reduce their offer or the seller can ask for more, as long as they do...
Equity release can be an attractive way to fund your retirement, allowing you to unlock some of the value tied up in your home as a tax-free lump sum. Many people use this money to pay off debts, fund home improvements or other plans to make their...
For many people carrying out important business online is now second nature, so it’s not surprising that when it comes to buying a home, many people want the same convenience they are used to from the internet. A growing number of firms are now...
An increasing number of people are relying on their parents for financial help when buying their first home, in large part due to the significant gap between average wages and average house prices in many parts of the UK. While it is common now for parents...
Buying a newly built home offers a number of advantages, including the idea that you will be getting a pristine property with no wear and tear from previous owners. If you can buy off-plan, before the property is finished, you can also often get a...
1. I have been registered as an owner of a residential property in the past but I did not live there. If I purchase a property to live in will I be a first time buyer? Answer: Unfortunately not. To qualify as a first time buyer you need to have...
We take the security of our clients seriously, so when we are advised of risks by other responsible parties such as banks and mortgage lenders, we try to pass the advice on. The advice below has kindly been issued by Santander, but it applies equally across...
A growing number of couples in the UK are choosing to buy property together without getting married or entering a civil partnership. This can be a good way to get onto then property ladder when house prices are unaffordable for many individuals, while also...
Stamp duty land tax will be scrapped for first time buyers on properties worth £300,000 or less in England, Wales and Northern Ireland. Additionally, those buying a first property worth up to £500,000 will only pay stamp duty of the value...
When selling your home, you undoubtedly would prefer the sale to go ahead as smoothly and speedily as possible – especially if you need the funds unlocked by the sale to purchase your new home. Any delay in the sale can cost you money and stress, as...
Buying your first home is normally the biggest financial investment you will have made up to that point. It is therefore understandable to be concerned about getting it right and not being caught out by unexpected issues that could end up costing you a lot...
The majority of UK flats are offered on a leasehold basis, as are an increasing number of new build houses. Recently, there has been growing concern about a range of practices in the leasehold market, including over spiralling ground rents for new build...
The legal process of buying or selling a home, known as conveyancing, often takes around six to eight weeks. However, this is entirely dependent on the circumstances, including the type of property, any special considerations that have to be dealt with and...
Conveyancing fraud is now believed to be the most common type of cybercrime in the legal sector and can result in unwary homebuyers losing tens of thousands of pounds. It is a particular issue for first time buyers, because they are likely to be less...
Buying land can be an attractive investment, especially where there is the possibility to develop property on the site or otherwise improve it to increase its value. However, to ensure a good return on your investment, there are a number of key issues you...
The majority of flats in the UK are sold on a leasehold basis, meaning you are not buying the property, but rather the right to occupy it for a fixed period of time. The freeholder retains ownership of the building and their rights and responsibilities, as...
When remortgaging a property you own, there are various checks and searches that need to be carried out, as well as other important legal and financial details that need to be handled correctly. This process is referred to as conveyancing, the same as the...
Conveyancing is the name for the legal process of buying and selling property, including leasehold property, as well as carrying out the necessary checks and transactions involved in remortgaging or extending a lease. Getting your conveyancing handled...
Changes to tax relief for UK landlords being phased in between 2017 and 2020 mean that many buy to let rental properties may no longer be able to generate a reasonable profit for their owners. As a result, many buy to let landlords are likely to be...
Many flats in the UK are sold on a leasehold basis, as are a number of other properties. If you are thinking about buying a leasehold property, it is important to understand how this differs from buying a freehold property and the key things you need to...
The exchange of contracts is one of the final stages of buying or selling a house and makes the transaction legally binding. Many people find this process stressful, as it is generally the last point at which a property transaction may go wrong. In this...
Getting your conveyancing right is essential when buying or selling property. It ensures that the sale is progressed properly, that all your legal obligations have been correctly taken care of and for buyers, that you do not end up with any nasty surprises...
When buying or selling a home, you will need to use a conveyancer or conveyancing solicitor to take care of the legal side of things for you. This ensures that no important details are missed and protects you from any unpleasant surprises during the property...
When a single person owns a property, that person is the sole proprietor, or sole legal owner. If two or more people own property together, they are co-owners. There are two types of property co-ownership: tenants in common and joint...
Moving house can be exceedingly stressful at the best of times. A house move with children, particularly young children can be even more challenging. Our top tips for moving house with children gives some practical suggestions to ensure your move goes...
Renting out a property can be a great source of income. But if you’re just starting out as a landlord, it’s important to familiarise yourself with the responsibilities it entails. To protect your legal interests and of course to keep the...
If you’re looking to buy a property, you will almost certainly have heard the terms ‘freehold’ and ‘leasehold’ being mentioned. They are important definitions to be aware of - essentially, freehold and leasehold are terms for...
No one can deny the unique charm of a period property. It’s why they’ve maintained their enormous level of popularity over the decades: they’re full of character, and owning a precious piece of our architectural history can be a great...
There’s a lot to be said for setting your sights on a brand new house. Energy efficient, designed for modern living, rooms fitted out to your specification; a new-build certainly has its advantages.
Here are our top tips for making this move as smooth as those freshly plastered walls.
In recent years a particularly nasty scam has cropped up. It has on some occasions brought financial disaster for unwitting people who are in the process of purchasing a property, with some even losing hundreds of thousands of pounds to fraudsters. The scam...
Putting your foot on the property ladder may seem daunting. After all, buying a home is one of the most significant financial commitments you will make in your life. Getting everything right first time is absolutely essential; but if you’re a first...
The beginning of the new financial year marked the day that major tax changes affecting Buy-To-Let investors came into force. When the tax changes were originally announced in 2016, landlords expressed concern that it would restrict their ability to turn a...
Have your children flown the nest or perhaps your current property has far too much space. Downsizing could be for you. Downsizing provides numerous advantages, especially for those who make use of the available equity to travel, start their own business or...
In the 2015 Budget, former Chancellor, George Osborne announced that tax relief available to private landlords would be severely curtailed. Tighter restrictions were also imposed on the wear and tear allowance that landlords currently enjoy. Suddenly,...
Whether it is a shop, factory, office space or warehouse, a solid commercial premises lease is an essential prerequisite to the ongoing success of many businesses. If your lease is nearing the end of its term and you wish to remain a tenant, it pays to seek...
Taking steps towards buying your first home is a hugely exciting time, not to mention the wonderful achievement of making that significant investment in your future. Many people dream of the day they can buy their first property, but when you finally have...
For those new to buying or selling a home, the whole process of Conveyancing can seem rather mysterious. At Bird & Co, we like to make things simple. That’s why we’re compiling a series of blogs over the coming weeks to answer some common...
When you’ve made the decision to move on from your current home, you’ll know there’s a lot to get organised. This can be daunting, especially if you’re searching for your next home at the same time. But even if you’re pressed...
Property Searches – you might already be aware that these are part of the conveyancing process, but perhaps find that you have questions about what they are, or what they entail? After all, they’re usually not something you encounter until you...
As we all know, technology is changing the way we live our lives at a rapid pace. But did you know it is even changing the way we buy and sell houses? Around 80% of property hunters now begin their search on the web, and approximately 1% of all UK internet...
We all know moving house is no small feat. At Bird & Co, it’s our job to take the legal process of a house transaction through to a successful completion. There’s a lot of work to do, which does take time. But aside from all that, there are...
Acquiring the keys to your new home can be an exciting time and calls for celebration. You’ve worked long and hard to get to this place; years of saving, months of careful planning and weeks of anticipation in the run up to exchange and completion of...
If you’ve started looking into buying or selling a property, it’s likely that you’ll have heard a couple of different terms: conveyancing solicitor, licensed conveyancer… same thing, right? Not quite. These are two types of legal...
