Despite Brexit uncertainty and a preceding period of relative stagnation, house prices rose at the end of 2019. That’s according to the latest figures from Nationwide, which showed values standing at 1.4% higher in December than at the start of the year. The report also revealed that the average UK house price was £215,282 - so it’s no surprise that many first-time buyers struggle to find the spare cash to put aside for even a 5% deposit. That’s where family members are often choosing to plug the gap. Those who are already on the property ladder or who have managed to accumulate significant savings, may be in a better…Read more..
Picture the scene. You’ve found your ideal home, you’re already emotionally invested in your future property and you’ve planned what colour you’re going to paint the walls. On the other hand, you might be a seller who simply wants to downsize, start a new chapter or release some much-needed equity from your property. Either way, if you’re already committing to moving, the last thing you’ll want is to be held up by unnecessary delay due to unforeseen complications or seemly finicky questions. So, what should you look for when choosing property conveyancing specialists? A network of contacts and years of experience Why? Property conveyancing…Read more..
Buying property at auction isn’t just for those on television or for seasoned developers. Increasingly, it’s seen as a way to cut through the lengthy and occasionally convoluted buying process – and potentially secure a bargain if nobody else has spotted a property’s potential. Another plus is that once the deal is done, there is no danger of getting gazumped or the whole chain collapsing at the last minute. However, there are certain pitfalls to watch out for so it pays to be prepared and gather as much information in advance of the auction as possible. how to buy a…Read more..
Equity is how much value is left in your property, minus the amount still owing on any mortgage. So, for example, if your home is worth £150,000 and you still owe £50,000 on your mortgage, then you would have £100,000 of equity. Transfer of equity is a change in co-ownership so that this pot of money is either split or shared with somebody else – for reasons which we will discuss below. Why is a transfer of equity necessary? There are a number of reasons why home owners seek a transfer of equity, including: Separation or divorce when one party…Read more..