The National Conveyancing Protocol (the Protocol) is a framework or over-arching guide for the sale and purchase of a property/home for an owner/occupier. It has been devised by the Law Society and has been subject to a recent revision and its importance is to help in achieving the objective of a smooth sale and purchase…
A standard conveyancing principle is that the practitioner should know their client and can readily identify them by following standard conveyancing practice and procedure. This will normally not be an issue where the client is engaged in the sale of a property that they own and is their main residence; and the related purchase of…
As of 19th August 2019, the updated 2019 Law Society Conveyancing Protocol took effect and replaced the 2011 edition. This is especially important as it covers a range of updates that reflect the ongoing changes within the ever-growing industry. The updates are here to remind anyone involved within the conveyancing field, of their continuing obligations,…
At Barrett & Co we are proud to have on board, two highly qualified conveyancers, Alan and Richard. Between them, Alan and Richard handle all our residential conveyancing work thoroughly and efficiently, supervising their team of support staff and working hard to ensure that every transaction proceeds as swiftly as possible. It is quite unusual,…
If you are the owner of land and/or buildings that have not been registered with the Land Registry when you take ownership of them, or you wish to take out a mortgage that will be secured against that land or those buildings, then you must first apply for the land and/or buildings to be registered….
If you have already had the pleasure of buying a home in the past, you will be aware of some of the aspects of the conveyancing process. However, if you are now considering a new build property there will be some key differences that you may not be expecting. These might include: A Reservation Deposit…
Equity release refers to a range of products that allow clients to access the equity (cash) tied up in their home if they are aged over the age of 55. Clients can take the money released as a lump sum; in several smaller amounts; or a combination of both. There are generally two equity release…
What is shared ownership? Shared ownership is a scheme under which the buyer can purchase a share of a property and pay rent on the remainder. The part on which the buyer pays rent, remains in the ownership of the landlord. As time goes on, the buyer can acquire increasing shares in the property by…
Continuing our series of understanding conveyancing terminology, we look at what fixtures and fittings are and the key differences between them. Fixtures are defined as “forming part of the land” and therefore, as a buyer, you would expect to take over ownership of these items when purchasing a property. In many ways, this makes perfect…
We all know about and are familiar with the importance of advice from accountants in the context of business sales. They can advise to ensure that the transaction is put together in a tax efficient way – that maximum use is made of the various reliefs available (including, in particular, entrepreneur’s relief). This will have…
