Selling a property quickly to get out of a mortgage

Rising interest rates have dominated the headlines recently, with banks estimating a many households could see their monthly mortgage repayments increase by £500 over the next three years. If you are affected, you may even be thinking about giving up your property so you will no longer have the burden of a mortgage. ‘Becoming mortgage-free would certainly help ease [...]

Conditional gifts – allowing for everchanging future possibilities in your will

Deciding who should inherit from you in your will, how much they will get and in what shares, are big decisions to make. This can be made more difficult if you have particular concerns about a beneficiary and whether the inheritance could be at risk. ‘Second marriages, family disagreements, or children who have a lot of debt can all [...]

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. [...]

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 [...]

Legal considerations if you are tempted to buy a holiday home

Summer is here and it is not uncommon to want to prolong that holiday feeling and dream of investing in a holiday home which allows you to return to your favourite spot more frequently. Holiday home ownership has boomed recently and in 2021 second homes accounted for more than 24,000 purchases. Many of these were on the coast or [...]

Six Key Points – if helping a child onto the property ladder

First-time buyers today must find, on average, a deposit equal to a year’s salary. With almost half relying on parental assistance, the ‘Bank of Mum and Dad’ has never been so popular. House price affordability and the phasing out of the Help to Buy scheme make this trend set to continue. ‘It is natural to want to help your [...]

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