If you’re a council house tenant, then you may be eligible to apply to buy your home outright – and at an often-sizeable discount too. However, there are some factors to take into consideration (particularly if you come to sell on your property at a later date) so it’s important to seek legal advice before committing to a purchase. How does right to buy work? Under the current scheme, you can apply to buy your council property if: It’s your main residenceIt is self-contained and you do not share other rooms with somebody else (for example a bathroom or kitchen)…Read more..
In today’s market, it can be difficult to get a foothold on the property ladder. House prices have more than tripled since the late 1970s, and although salaries have also increased, wages have generally lagged behind in the ever-expanding housing bubble. The discrepancy means that more people are finding themselves in rented accommodation or looking for alternative ways to buy a home. Step forward, shared ownership. What is shared ownership? Shared ownership schemes are aimed at people who do not have enough income or savings to buy a property outright. Instead, would-be purchasers are allowed to buy a percentage of…Read more..
If you want to free up some cash and remain living in the property that you own, then you might have already heard about, and considered equity release. Essentially, this process involves converting the value in your home and turning it into a cash lump sum or regular income. What’s more, you don’t even need to have paid off your mortgage in its entirety in order to access the money. No wonder it’s an increasingly popular option for over 55s who may have benefited from a boom in the property market but find themselves cash poor - priced out of…Read more..
Buying or selling a home is one of the most important steps in life you’ll ever take so for this reason, it’s important to choose a qualified professional to support you along the way. Why? Because the process of transferring property (otherwise known as conveyancing) is complex and full of potential legal problems. Not only should a quality conveyancing solicitor be proactively facilitating the process from start to finish, they will also be on hand for advice if any unexpected issues crop up along the way. Good service A client should know exactly what sort of service they can expect…Read more..