Property Solicitors

Residential Property Solicitors

Buying or selling property can be a stressful and lengthy process, but at QualitySolicitors, expert conveyancers are here to make the transaction as simple and efficient as possible. There may be many complex legal aspects involved, but we understand the importance of keeping you updated at every stage and of clear communication and have everything explained to you in plain language – with no legal jargon.

1. Transferring ownership

   There are various types of title transfer, including sale and purchase, property gifting, separation and divorce, name changes, loans and corrections. Although the transfer is typically a straightforward process, it is important that it is completed correctly to ensure the transaction progresses smoothly and to mitigate the risk of future issues. Property lawyers can help at every stage of the ownership transfer, including land registration and documentation checks, affording you peace of mind during the process.

2. Land registration and stamp duty

   You are required to register all land and property in the UK with the HM Land Registry, whether you’ve bought, inherited, been gifted or mortgaged it. Property lawyers can contact the Land Registry on your behalf so you can focus on other matters relating to the sale.

   Stamp duty land tax is a tax payable by the purchaser on land transactions and is collected by HM Revenue and Customs. Stamp duty fees are dependent on the ‘chargeable consideration’; in terms of a residential property or a piece of land, this is typically the price the purchaser pays, including any fixtures and fittings. If the chargeable consideration is £250,000 or under, no tax is paid; for anything over the threshold, the purchaser must pay stamp duty on the portion over £250,000. Our expert property solicitors can answer any questions you have about stamp duty and guide you through the process, taking care of any paperwork required.

3. Mortgage Guidance

   A mortgage is likely to be the largest financial transaction you will ever be involved in, so it is essential that the application process is completed correctly and efficiently. It is advisable to be proactive from the outset, enlisting a lender and appointing a solicitor before you start searching for a property. In some cases, this can reduce the process time by two weeks, as any background checks and proof of funding will have already been completed.

   One of the first things your residential property solicitor will require is a written loan agreement. You can choose to research your own mortgage, obtain advice from a mortgage lender or receive guidance from an independent financial advisor, but budgeting accordingly from the outset and being realistic about what’s possible are essential.

4. First-time buyers

   Purchasing a new home can be a stressful experience for anyone, not least a first-time buyer. Easing the pressure is achievable by being organised and proactive. As previously mentioned, obtaining a mortgage agreement in writing and sourcing a solicitor before moving forward are essential. Budgeting for a house purchase should factor in conveyancing process like stamp duty, survey, legal fees, mortgage and moving costs, in addition to the deposit.

   Clarifying ownership is also vital. If a family member is helping with the deposit, and it’s a loan, not a gift, ensure that a solicitor draws up a formal agreement to mitigate the risk of confusion further down the line. Similarly, if you are purchasing the property with a friend, family member or partner, on unequal financial terms, protect your assets with a Trust Deed. A legal professional can draw this up for you.

   Be upfront with your legal team about preferred completion dates, notify them of any potential disruptions (such as planned holidays and cashflow setbacks) and ensure that they know the best means of contacting you to promote regular communication. It is also advisable to exchange buyer and seller solicitor details so that they can communicate if necessary.

5. Shared ownership

   Shared ownership entails that you buy parts of or shares of a property and then pay rent (often at a discounted rate) on the remainder. A housing company or other individuals can own the remaining shares.

   Many people aspire to own their own home but can’t afford to do so, and shared ownership is an opportunity for these people to own a home at a lower price. Moreover, the deposit paid is relative to your shares and mortgage payments, so there are no vast deposits to save for. There is also the possibility of buying more of the property if and when you are able.

   The drawbacks to shared ownership include having to inform your landlord if you wish to sell, being partly financially responsible for alteration to and repair on the property and having limited mortgage options. The eligibility criteria for shared ownership are first-time buyer, unaffordable deposit, income under £80,000 (£90,000 in London) per annum and good credit history.

6. Property valuation expertise

   To fully understand what your home is worth, you’ll need an expert valuation. This entails an accredited agent or licensed surveyor coming to your home, conducting an in-depth assessment and providing a detailed valuation. They will consider the current market dynamics and the unique features of your property, among other things.

   Many companies also offer an instant valuation, whereby details are given over the phone or video call and current house prices are considered, but this doesn’t account for any changes made to the property, which may have increased its value.

Commercial Property

Over the period of time, we have provided the best advice related to commercial property. From purchase-sale transactions, commercial property regulations, and taxation, we guide both property owners and tenants through  

1. Lease negotiations

   Taking out a lease on a commercial property can be a daunting prospect whether you are a new company or an experienced leaseholder. Leases are complex and lengthy documents, so it is important to enlist specialist help to prevent potential future problems.

   A typical lease term is five years, but a different period of time can be agreed upon by both parties, and before anything is signed, the business’s immediate and future needs will need to be protected in writing, such as immediate occupancy or a plan for future expansion. Break clauses allow tenants to end a lease before the full term ends and can act as a safety net for the buyer in case things don’t go to plan. It is plausible that the rent and the notice period will increase if a break clause is included, so careful consideration is required.

2. Development project

   Developing a commercial property is an involved project, and a specialist solicitor can help navigate your design and building construction, liaise with the various players and ensure planning laws are met. Expert advice can help you to understand aspects such as your options, planning, obligations and hearings.

   Property lawyers can assist business owners looking to expand or redevelop their company, and the right help will efficiently support you in managing or letting your premises, with a clear explanation of the planning process, anticipated timescales and costs.

3. Portfolio management

   Commercial portfolio management essentially involves analysing financial statements, identifying market risks and making recommendations for future investments. Specialist property solicitors can help deliver solutions supporting your core business.No matter how your premises are used or what stage you’re at, commercial property solicitors can help with anything from a large portfolio restructuring project to one-off advice on a dispute with your landlord. Their services include lease grants and renewals, financing, applications for sub-letting, recovery of rent arrears and consent for property alterations.

4. Post-completion support

   Following the completion of a commercial property purchase, your solicitor will manage the post-completion formalities. These typically involve applying to register the legal change at Companies House (if it’s a limited company), drafting and submitting the stamp duty tax return and settling any payable stamp duty, and applying to register the buyer’s ownership at the Land Registry. This leaves you free to enjoy running your new business and managing any changeovers, such as utilities and broadband connection.

5. Ongoing compliance

   Complying with the relevant laws is vital, and every business should be aware of its statutory obligations. There will be rules and regulations that apply to your specific business. These can be complex to grasp, but commercial property lawyers will explain what you need to know and ensure you fully understand what’s required of you.

   When you’re running your business, you’ll undoubtedly need practical legal advice you can rely on, and a specialist business law solicitor will leave you safe in the knowledge you’re in good hands while you continue to trade. Running a business is time-consuming, so let an expert solicitor work to ensure you make the right legal decisions, whether you’re a novice or a veteran business owner.

How can our property solicitors help you?

We have the expertise and experience required to deal with your legal issues relating to all kinds of home and property topics within areas of ‘conveyancing’, ‘home ownership’, ‘property investment’, ‘losing your home’, and ‘problems with your home’.  If you’re just visiting our website then we hope the quick links below will get you straight to information that can help you with your research; you’re certainly more than welcome to get as much information as you need from QualitySolicitors.com.

But remember, when you need your home and property legal work to happen efficiently, smoothly and expertly, we’re here for you.  When you need rapid action if some unexpected legal problem has occurred, we’re here to sort it out for you.  And when you call us to talk something through, we’re here with Free Initial Assessment to get you started, and then (if you want it) an introductory Ask the Legal Expert consultation with one of our lawyers for just £99.