From releasing equity to consolidating debts, there are many reasons to remortgage a property. It can be an attractive option for those who want to reduce their monthly payments, although any potential savings should be outweighed against other fees including broker costs and legal bills. In fact, it is thought that around a third of all UK home loans are remortgages. Indeed, while it may not always be necessary to appoint a solicitor, there are times when it is advisable to seek guidance from a quality conveyancing expert. Is it always necessary to use a solicitor when remortgaging? If you…Read more..
If you want to purchase a property in the UK, you should be aware that there are two main types of home ownership - leasehold and freehold. Buyers should consider the advantages and disadvantages of either type before making an offer, as their decision may ultimately affect the price or indeed the value of an apartment or house if it is sold in the future. There are other factors to think about too. The potential for ongoing costs in the form of ground rent and maintenance fees as a leaseholder must also be taken into account. What is a leasehold…Read more..
With so many people struggling to get a foothold on the property ladder, more would-be buyers are exploring alternative arrangements in a bid for home ownership. In a difficult and expensive market, it can make sense to look at working together to buy a house with family or friends. However, if you decide to buy a property with other parties there can be certain legal implications. That is why it is imperative to seek advice from a specialist conveyancing solicitor if this is the route you decide to take. Types of home ownership If you buy a property with somebody…Read more..
Political uncertainty and the prospect of economic instability as a result of Brexit have led some experts to predict a property price crash in 2019 – although there is some disagreement about who would be the winners and losers in the event of a steep decline. The statistics so far Indeed, there is evidence to suggest that a drop could be imminent. Figures from Nationwide show a rise of just 0.5% in December 2018 – the slowest rate of annual growth since 2013. Meanwhile, Rightmove reported an average price fall of £5,000 in November. Former hotspots such as London and…Read more..