Knowledge Base - Conveyancing

Buying or selling a property can be a complex process. We have collated our top conveyancing tips and by following these tips, you will reduce any complexities and make for a smoother transaction. When obtaining quotations for conveyancing solicitors’ fees, be sure that everything has been included – as well as the solicitor’s fee, there are […]

Dealing with a wide variety of matters, including details of parties, definitions and interpretation, operative clauses, schedules, provisos, and signatures, a commercial property lease is a document which protects your position when renting a commercial property. A binding contract, signing a lease on a property is a significant financial commitment; as a business owner it […]

The Help to Buy: Equity Loan scheme is now closed to new applications in England. We can assist with existing Help to Buy equity loan matters, including sales, remortgages, redemptions and repayments. We can also advise on related conveyancing issues where a Help to Buy equity loan is already in place. Bannister Preston Solicitors LLP […]

Calculated on the value of your estate when you die, and the value of assets you have given away or put into trust during the previous seven years, Inheritance tax (IHT) can be reduced or even eliminated entirely if planned for correctly. The Wills and Probate solicitors at Bannister Preston Solicitors LLP can assist in […]

We are here to provide clear, practical legal advice and solutions to landlords and tenants, for both domestic and commercial properties. When a legal dispute arises, we appreciate that you will need the help of experienced, friendly solicitors in an often difficult and complex situation. We can provide expertise in everything from lease extensions, and […]

What is a lease? A lease is the legal right to use a property for a period of time. It can become increasingly difficult to sell a property with a short lease, as both prospective buyers and mortgage lenders become more reluctant to purchase these properties. As such, buyers may request that a leaseholder extends […]

A leasehold property is one which is owned for a fixed pre-agreed period of time, with a legal agreement set with the landlord (or freeholder) to define how long your ‘lease’ will be valid. Once this period comes to an end the ownership of the property defaults back to the landlord. During your period of […]

The process for a transaction of a new build property is known for having several, complicated factors that require completing on a tight time-scale. As you would expect with new build properties, a buyer will often commit to purchasing a property before the developer has finished building the housing development. In some cases, the developer […]

What is Planning Permission? Planning Permission is the formal permission from a Local Authority for the development of buildings and land. Following the Town and Country Planning Act 1947 (updated 1990), it is a requirement to obtain Planning Permission for development purposes, which consists of any building, engineering, or mining project, or a change in […]

Understanding Equity Equity release is the process of releasing the owned value in your home to provide a cash lump sum, which can then be either used for further home improvements, holidays and more. Equity is defined as the percentage share you own in the value of your home. For example, if your property is […]

Right to Buy rules and discounts can change, so current guidance should be checked before you proceed. Basic eligibility generally includes being a secure tenant with a public sector landlord for at least three years. The maximum discount in England currently depends on location. A residential conveyancing solicitor can help ensure the legal formalities are […]

As part of the process for purchasing a new build property, it’s vital to ensure that the housing developer has an agreement in place with the Local Authority for the adoption of the newly built roads. This comes under Section 38 of the Highways Act 1980. The Housing Developer must also come to an agreement […]

What is shared ownership? Shared ownership, also known as Co-ownership and equity sharing, involves the sharing of a single property between multiple owners. This may also result from various types of home ownership schemes including equity loans (such as Help to Buy), or leasehold schemes. At the end of the agreed period Co-owners usually have a […]

Stamp Duty Land Tax (SDLT) is the tax paid to HMRC after the purchase of a freehold, leasehold, or shared ownership property. It’s important to have this payment sorted promptly (within 14 days of completion of the sale) to avoid a penalty charge. For standard residential purchases, SDLT is currently calculated at 0% on the […]

Once we have been instructed, our conveyancing solicitors will issue you with our Client Care Letter which will set out the terms of our engagement and will set out our initial requirements and will enclose a Property Information Form, Fittings and Contents Form and Leasehold Information Form, if applicable. Whilst we wait for you to […]

When it comes to the sale or purchase of freehold and leasehold properties, you need a conveyancing solicitor that you can rely on to understand the intricacies of completing these often complex transactions. What is a freehold? A freehold is one of the two types of property ownership in the UK whereby the freeholder owns […]

A transfer of equity/ownership is a transaction in which legal ownership of a property changes hands, often resulting from a change in circumstances. Typically more straightforward than a sale or purchase, involved parties have prior knowledge of the property, diminishing the need for a contract. Examples where Transfers of Equity/Ownership apply include: Court order Cohabitation […]