It may not be the first question that springs to mind when it comes to property exchange, but in order to sign your home over to your children there are a few things to consider. What to be aware of when it comes to gifting a property First off, if you are a homeowner you are within your legal right to give the property to your children at any time in your life, even if you live in it at the time. As people understand the importance of inheritance tax (IHT) implications, assets when it comes to care home fees,…Read more..
After months of deliberation you finally decide it is time to sell your house – then the panic sets in about where all the documents relating to your home have gone. Moving house, as it is well documented, can be a very stressful time and with some people moving after living in the same house for decades paperwork can be a real worry. The passage of time makes it tricky to recall exactly what paperwork is kept where. One particular document that gives home owners cause for concern is the deeds. With very good reason many sellers are plunged into…Read more..
When we think of remortgaging a home it is usually in the light of choosing to make major changes – but the best reason to remortgage could actually be to get a better rate. A mortgage is usually the biggest financial commitment most people ever take on, often stretching to 30 years. With the long payment plan comes lower interest rates than might be found on high street loans. As a result of the repayment framework being in place, many people choose to add the cost of substantial renovations to their home onto their mortgage. Extensions, conservatories, loft conversions –…Read more..
Gazumping – it sounds like something that should have gone out of fashion in the 1980s, sadly it remains a very real problem in the housing market. Buying and selling a home is stressful enough without the risk of outside interference, or more specifically, someone upsetting your plans by swooping in and taking your ideal home from under your nose. Gazumping is the term that is used when you have had an offer on a house agreed but, before you are able to exchange contracts, another buyer makes a higher offer that is accepted by the seller leaving you empty…Read more..