When a home is purchased above a certain price, it will attract stamp duty. This is an additional expense which will need to be taken into consideration when stepping on to the property ladder – particularly if you’re saving up for a deposit and need to carefully plan your budget. The rules surrounding stamp duty are complicated. It depends on whereabouts in the United Kingdom you’re planning to buy, the eventual selling price, whether or not you are a first-time buyer, or how many other properties you own already. So, just what is the threshold for stamp duty on houses…Read more..
People choose to move house for many reasons and quite often the need for more space is a major factor – but it is possible to take your existing mortgage with you? Applying for a mortgage can be time consuming and if your circumstances have changed, but you have a mortgage deal in place, you may be put off moving by the thought of having to go through the process all over again. Porting a mortgage The good news is that it is possible to take an existing mortgage with you to another home - that is as long as…Read more..
Buying a home can be a stressful time for many but if you’re aware of documents such as transfer deeds and processes such as land searches then you’ll be well prepared with what to expect. It’s important to feel comfortable about what purchasing a property entails and what you (as the buyer), and the seller need to provide. A good understanding will help the process to run smoother and more quickly – let’s face it, buying a property is also an exciting time, one of many plans and opportunities. So what exactly are transfer deeds? A transfer deed is a…Read more..
Adverse possession is a tricky concept to get your head around. In simple terms it refers to acquiring land that doesn’t belong to you. An “adverse possessor” relates to an individual who, if they trespass on or occupy land owned by someone else for a sufficient and continuous amount of time, can claim a lawful title to the land in question. Throughout the history of time, individuals, communities and nations have battled for the ownership of land – for status and basic survival needs. Laws are passed to uphold the right to ownership but that’s not to say circumstances are…Read more..