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Franklins has one of the largest teams of residential property lawyers in the area and we are accredited by the Law Society’s Conveyancing Quality Scheme as well as having the ISO 9001 standard. We have a strong property reputation and expertise that makes us an excellent choice for your property transaction.
We work closely with the estate agents and any mortgage lenders to ensure that everyone is ready for your completion date and final handover of the keys. We contact you with regular updates and you can also log on to our secure online case reporting system to keep up to date with progress any time of day via this website.
We have years of experience of buying properties. Rest assured that your purchase will be in safe hands.
Buying a flat is becoming ever more popular, but it is important to realise that the legal work is more involved because it is essential to ensure the lease terms are compliant with lenders policies as well as ensuring that the rights and obligations between the flat seller and the landlord have all been honoured. We will look at all these factors and advise you fully on all angles.
Buying a shared ownership property is very much like buying a leasehold flat, but with more rules to consider and advise on. A shared ownership home is however the best way for a great many to get onto the property ladder and we are experts at reviewing the various schemes and advising you how they work.
Tenants of local authorities can acquire rights to buy the freehold or leasehold title. We can help on these purchases too and advise on the implications of the change from tenant to owner and also on the mortgage commitments.
Aside from advising you on the property purchase we will also be instructed to act by your lender if you are seeking mortgage finance. We are on the approved panels for the vast majority of the principal lenders. We will therefore be able to discuss with you and advise you in full on all aspects of the lenders’ requirements.
For purchases of all properties (some regeneration areas have exemptions), the buyer has a legal obligation to complete a tax return form detailing all aspects of the transaction. For properties over £125,000 the buyer has to pay Stamp Duty Land Tax also. We know from experience that this can be a problem and we therefore take care of this for you too to prevent you suffering tax penalties.
If you are buying as a single individual then there is not too much to worry about, but if you are buying as a couple, then there are a number of important issues to be covered to make sure the investments you are each making are properly and fully protected. We will provide you with full guidance and advice.
Two or more people buying a property must decide on the basis of their ownership and consider the protection of their respective investments for the time after the property is sold. The importance of a Trust deed to reflect unequal contributions for couples who are not married is, we believe, an absolute must and should be considered along with making a Will.
You may be buying as a long term investor or you may be buying with a view to rapid turnaround. Either way, we can provide you with expert advice and guidance including familiarity with commercial mortgage lending criteria. Being in a position to begin to realise the investment potential as soon as possible is vitally important and our advice is commercially based.
Legal searches are carried out by the conveyancer to understand more information about the property. A conveyancer will gather information from local authorities and other organisations to understand the history of the property, the local area and any development plans nearby.
A freehold property gives you ownership of the property and the land that the property sits on. A leasehold agreement gives you ownership of the property but not the land the property sits on.
Conveyancing searches provide protection to buyers and sellers by identfying any problems with the property, such as structural issues, problems with the roof and subsidence.
An exchange is the term used to describe the legal signing of contracts which commits the buyer and seller to complete the transfer. The completion is the actual date that the transfer happens – the “moving in” day.
You will normally get the keys to the property on the morning of the completion day.
Information about stamp duty can be found on the government website: https://www.gov.uk/stamp-duty-land-tax
A solicitor will want to see proof of funds to demonstrate that you can afford the property purchase and will want to see a mortgage offer that shows you have the agreement to lend.
Legal searches carried out by a conveyancer will highlight if there are any building and development plans nearby.
A survey is not a legal requirement, but you are taking a significant risk if you do not get a survey. There are different types of surveys available, depending on how much information about the property you need.
The title deeds are usually kept by the mortgage lender. When the final mortgage balance has been cleared, these are then usually passed on to the owner of the property.
The title deeds are usually kept by the mortgage lender. When the final mortgage balance has been cleared, these are then usually passed on to the owner of the property.
If you have any questions about conveyancing, please don’t hesitate to contact our team of experts who are on hand and ready to help you.
