When your offer on a new home is accepted, you will probably want to get things moving quickly. Before your solicitor can start work, there are some important checks that they must carry out to verify your identity and check your source of funds. Sadly, fraud has become an increasing problem in recent years, with professional criminals targeting conveyancers [...]
The first Labour budget for 14 years was the subject of much speculation in the press. But what has changed for homeowners, buyers and sellers? And is there anything property owners should do as a result? ‘There was a lot of hype surrounding the budget,’ agrees Cathal Murray, a solicitor with James McNulty & Co. ‘Whilst the impact on [...]
When selling your home, you may recall the expression ‘buyer beware’. But what does this mean and is it still relevant today? ‘Historically, the buyers in a conveyancing transaction have been responsible for satisfying themselves on a property’s suitability,’ explains Deirdre McSorley, residential property solicitor with James Mc Nulty & Co. ‘Nowadays though, the situation is more complex. There [...]
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 [...]
A home with outside space appeals to many of us, but it may be hard to find somewhere affordable with a garden and even then, you may not want the responsibility of its upkeep. A balcony or roof terrace could give you that much coveted al fresco space without the maintenance headache. ‘It is certainly an attractive proposition,’ agrees [...]
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. [...]
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,’ [...]
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 [...]
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 [...]
A home buyer on an internet forum asked, ‘What is the pettiest thing your seller has removed?’ Most replies are light-hearted: a loo roll holder, the curtain rails, a basketball hoop from above the garage door. Some tell a different story of buyers moving in and discovering missing kitchen units or damage from ripped out features. Others tell of [...]
