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Charge on your property
What is the registered charge on a property? If you take out a mortgage to buy your home, your lender will almost certainly register a charge against it at the Land Registry. The charge does not transfer ownership. However, it will give the lender important rights, including the ability to sell your home if you default on your loan. [...]
Selling property if you are a residential landlord
As interest rates and economic pressures squeeze property investment returns, more and more landlords are leaving the private rental market. There have been claims in the media of a landlord exodus and if you are a residential landlord perhaps you have been thinking about selling up too. ‘The environment for landlords is certainly very different from a decade ago,’ [...]
Selling a property through the modern method of auction
Online auctions, especially the ‘modern method’ of auction, continue to grow in popularity. Last year saw a 40 percent rise in the value of property sold at auction, much of this online. But what exactly is the modern method of auction and is it something you should consider? ‘For a seller, there are certainly some advantages to the modern [...]
Is now a good time for first-time buyers?
If you are looking to own your first home, you may wonder whether or not now is a good time to buy. On the one hand, the increase in property prices seems finally to have stalled. On the other, living costs and interest rates have risen sharply. Add to this the uncertain economic outlook and it is hard to [...]
Legal steps to consider when diagnosed with a life-limiting illness
On top of the heartbreak and worry that a diagnosis of a life-limiting illness can cause, there will be a raft of concerns and uncertainties about your care and financial affairs and it can be difficult to know exactly how to prepare from a legal standpoint. ‘There are steps you can take to ensure that your care runs smoothly [...]
Planning your legacy through charitable giving in your will
There are many reasons why someone might choose to leave money to charity in their will. Tax planning may be a key incentive, or it could be due to a lack of close family members. Some may simply wish to create a longer lasting personal legacy or they might have strong feelings about a certain cause. ‘Last year, Fisherman’s [...]
Business planning and the importance of making a Will
A will is an important part of everybody’s legal planning no matter your circumstances, but for anyone who is in business, a well written will is vital to ensure the minimum disruption after your death. ‘Whether you are a sole practitioner, a partner in a partnership, or a director of a limited company, you need to consider how your [...]
Property, planning and paying for care
A common concern for our clients and their families is the prospect of having to sell the family home in order to meet care costs,’ explains Cathal Murray a solicitor with James McNulty & Co. in Omagh. ‘There are many articles and schemes online which seem to indicate that selling a home can be avoided, but often these schemes [...]
Who is going to succeed you in taking over your farm?
Given the rising age profile of farmers, it is worrying that so few have a succession plan in place. This not only puts farmers’ own financial security at risk, but it also potentially lines up problems for their families and successors. As with all business decisions, the starting point for succession planning is clarifying your long term aims. Do [...]
Building your own dream home
Shows like Channel 4’s Grand Designs reflect the growing popularity of self-build, which accounts for 13,000 new homes every year. So, if your dream is to build your own home, should you take the next step towards making it a reality? ‘There are certainly a lot of advantages’, says Cathal Murray of James McNulty & Co. Solicitors. ‘Self-build lets [...]