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Beginners Guides, Contract, conveyancer, Conveyancing, Conveyancing Quote, First Time Buyers, help to buy, help to buy ISA    No Comments

The hugely successful Help to Buy Equity Loan Scheme has had a two year extension with a new and improved scheme announced to be in development 2021-2023.

The Chancellor, in his budget last week revealed that the scheme; which provides government loans of up to 20% equity to buyers of new build properties, has been extended for a further two year period until his new scheme is put in place in 2021.  Fidler and Pepper’s New build team can vouch for its popularity themselves with over half their transactions involving help to buy assistance. We are not surprised that the scheme is being continued as it has proved popular with first time buyers and existing home owners alike.  It also comes as no surprise that the proposed 2021 changes for the new scheme involve limiting the loans only to first time buyers, who under the current rules, could be being pushed out by existing home owners looking to upsize.

The new scheme will also address the north/south divide in terms of house pricing and effectively making sure the scheme is only used by those who will really benefit from it. The focus is on getting rid of the one size fits all limits currently in place by  introducing a regional cap based on location with London staying at  the £600,000 cap currently in place but the East Midlands (where our offices are based) reducing to just £261,900. Though let’s face it that’s still a pretty nice first house here in Mansfield!

Good ol’ Phil also announced a cut in stamp duty for first time buyers of shared ownership homes with a zero stamp duty payable on the first £300,000 on any shared ownership home that costs up to £500,000 with immediate effect, which brings this in line with the November 2017 changes for non-shared ownership properties.

The icing on this first time buyer layer cake? A promise to help fund a further 650,000 additional houses!

First time Buyers – rejoice!

Conveyancers – forget about that post-Christmas lull;  keep calm, carry on!

If you are looking for a competitive Conveyancing quote then simply visit our website for a quote in seconds or give us a call on 01623 45 11 11.

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Beginners Guides, Contract, conveyancer, Conveyancing, Conveyancing Quote, First Time Buyers, help to buy, help to buy ISA, ISA    No Comments

Matt Slade – Fidler & Pepper Partner and Head of Conveyancing.

Whilst we’re not the type of firm who likes to blow their own trumpet, we’re pleased to mark an important milestone as we complete our 2,000th purchase involving the innovative Help To Buy schemes!

We began acting for Help To Buy purchases in 2015, with Help To Buy ISAs being dealt with from February 2016.

Help to Buy is a Government-backed scheme that sees people being offered a loan up to 20 per cent of the cost of a newly-built home.

A Help to Buy ISA is a type of savings scheme that was created to help first-time buyers save for a deposit for their home. The government gives savers a helping hand to boost their savings in order to help them get onto the housing ladder.

Our Matt Slade, head of the Conveyancing department, said, “When it was first launched back in December 2015, it was an attractive scheme to prospective first time buyers. It effectively made saving for a deposit more attractive at a time when the tightening of lending criteria could have negatively affected the market, providing a necessary boost at just the right time. The take-up of the ISA accounts has steadily increased and it is fair to say that it has been a great way for people to get on the property ladder.”

There is a set of guidelines that govern how Help To Buy ISA schemes can be used

For instance, the government boosts savings by 25 per cent, and people can save up to £200 per month. The maximum bonus people can claim is £3,000, so to get the best bonus people would need to save £12,000. The house that people want to purchase using the scheme  must cost a maximum of £250,000 (or £450,000 in London).

You can still take advantage and benefit!

Help To Buy ISA schemes will end in November 2019, meaning that they are still available but you will have to move quickly to take advantage of them. If you’re interested in the Help To Buy Scheme and have any questions or you would like a Conveyancing quote then visit our website or call 01623 45 11 11.

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Auctions, Beginners Guides, Boundary Disputes, Contract, conveyancer, Conveyancing, Conveyancing Quote, First Time Buyers, flipping, full structural survey, help to buy, help to buy ISA, Property Auctions, Property Market, property owner, Property Report, property searches, Quicker conveyancing, restrictive covenants, searches, signing contracts    No Comments

When we talk about ‘flipping’ we’re not talking abut pancakes! We mean buying a fixer-upper to do up and ‘flip’  (do it up and sell it at a higher price to make a profit) to boost your savings. But it’s important to remember that you have a lot to think about before you go ahead and buy a property to ‘flip’. There may be some obstacles in your way…

Do You Need Planning Consent?

If you’re planning to extend then you should check before you buy that you can get the planning consent you need for the work you want to do.  Often small extensions and conservatories don’t need planning consent, but if some extension works have already been done or your planned extension is large then you will still require planning consent from the Local Authority.  It’s always best to check this before entering into any Contract, especially if your purchase is based on being able to extend. You should also think about the costs of applying for planning consent.

If the property is a listed building, a conservation area or in an area where development rights have been restricted, then there may be even more hoops to jump through!

Building Regulations – Do You Know What Needs Sign Off?

Structural work to a property needs to comply with building regulations. There are costs of getting your plans approved from the Local Authority and extra costs for building inspectors to sign off the work once it’s completed. You’ll also need a Completion Certificate which legally confirms that building regulations rules have been complied with. As well as extensions you also need a building regulations certificate of compliance for electrical installation, gas installations, new double glazing, removals of chimney breast, removals of internal (supporting) walls and re-roofing.

What Are Restrictive Covenants? 

Even if you have the planning consent and the building regulations you need, you could still be prevented from extending or altering the property under a Restrictive Covenant. A Covenant is a legal promise in the Deeds to the property which can be enforced by a developer, a council or even owners of neighboring properties.  A Covenant can apply to modern or very old properties.

Covenants can prevent new owners making any changes to the property and owners can be sued for doing something that breaches it. It’s common for there to be a Covenant about adding a new building or extending or altering any existing building on the property without the consent of the original developer. Failure to apply for consent under the Covenant could result in the owners being taken to court, being forced to pay a fine, having to return the property to its original state or delays selling the property. Your Conveyancer who will be able to tell you whether there is any risk of breaching a Covenant in the property.

If You Have Questions About ‘Flipping’, Don’t Get In A Flap – Get In Touch 

If you’re a first time ‘flipper’ or are thinking of buying a property that have a Restrictive Covenant, then we can help you. Simply call 01623 45 11 11. For more about our Conveyancing services or an instant quote visit our website.

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Auctions, Case Tracker, Contract, conveyancer, Conveyancing, Conveyancing Quote, Do your own conveyancing, First Time Buyers, house buyers report and inspection, Property, Property Auctions, Property Market, property owner, Property Report, property searches, purchase, searches, Stamp duty, survey    No Comments

There are a great number of benefits to buying a property at auction such as a quick completion time and often the chance of getting a property at a very cheap price. However, it’s essential that you think carefully about what will happen when buying an auction property. Make sure that you go in with all of the information you need and above all don’t get caught up in the excitement of the auction house!

There’s a lot of things to think about – make sure you do your homework!

Have you seen the property?

Don’t be tempted to make a purchase on a whim if it seems like a bargain. It is so important to view the property first and to also obtain a survey on the house to establish if there are any structural issues which could affect value or your ability to get a mortgage. There could also be a tenant occupying the property which may complicate matters for you, or the property could be located in an area which may make it difficult to sell or rent. Doing your homework first will help you to avoid problems later on.

Do you have the money?

If you succeed at the auction you will need to exchange contracts immediately and pay a deposit there and then. This is usually 10 per cent of the price of the property. You will also be required to complete the purchase within a time limit, usually around 4 weeks from the date of the auction. Once you have exchanged contacts, you are legally bound to buy the property and if you don’t complete within the stipulated period, you may lose your deposit. Be sure you have all your funds available and if you are buying with a mortgage, that you have at least your mortgage in principal in place before you attend the auction. A delay on any of your funds prove a costly mistake.

Have you read the legal pack and spoken to a specialist Conveyancer?

Each property at auction has a legal pack and this contains all the information you would obtain through your solicitor when completing the purchase of a property through the usual channels. You should obtain the legal pack before the auction and ask your Conveyancer to review it for you so they can highlight any difficult areas. This could include title issues and items revealed in the searches which may affect the value of the property and often small print which makes you responsible for the seller’s legal fees or other costs. Being aware of these issues before bidding on a property is critical!

If you want to go ahead – your Solicitor will contact the auctioneers to get the legal pack and give you a report on the contents for a fixed fee. If you then are successful at auction can be deducted from the full legal fee for purchasing of the property.

Get in touch – we’re here to help

If you are interested in purchasing a property at auction and want some legal advice simply call us on 01623 45 11 11 for further information and an instant quote.

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Change conveyancer, Contract, conveyancer, Conveyancing, DIY Conveyancing, Do your own conveyancing, First Time Buyers, help to buy, help to buy ISA    No Comments

There are hundreds of law firms across the UK offering Conveyancing services, so why should you chose Fidler & Pepper for your house move?

Firstly and importantly, we’re friendly! We understand moving house can be stressful, but with Fidler & Pepper you’ll always be greeted with a smile. You’ll have the peace of mind that our dedicated teams are working hard to ensure the moving process runs as smoothly and efficiently as it can.

We’re award-winning Conveyancers. We don’t like to blow our own trumpet, but we’re really proud to be recognised in national and local awards. The most recent award added to our collection was the 2018 Conveyancing firm of the Year (East Midlands) at the Law Firm Service (LFS) awards. We’re delighted to receive this award as it is based partly on independent client feedback.

We love to create new things! We’re always creating new services and using our own technology to help you. Our clients tell us they love our 24/7 Case Tracker! With this you’ll always be in the loop, updated regularly, so you always feel on top of your case. Our Case Tracker allows you to look into you case in your own time, not just working hours. You could be anywhere in the world (with internet access) at anytime and be able to log in and see what’s happening on your case.

Our Conveyancers know their stuff. Fidler & Pepper have been around since 1888 – that’s 130 years of experience! Whilst times have changed, our values haven’t and we work hard to make our clients happy. As when you’re happy – we’re happy.

Our prices are competitive and when you instruct us to act on your behalf you’ll have a named and dedicated Conveyancer looking after your file.

Don’t just take our word for it! This is what some of our clients have to say about us

“It was just perfect and took all the worry and stress out of moving”.

“Fantastic service by Fidler & Pepper – would highly recommend! Will definitely consider using you again in the future – professional, friendly and reliable service.”

“Good Swift service, polite and helpful staff when I called up.”

“Always friendly and efficient.”

“I was very impressed. Everyone did what they said they would. I was assured by the professionalism and efficiency but also found I was treated with patience and a kind manner. An ever stressful situation made as easy as possible.”

Are we the right team for you?

We can provide an instant Conveyancing quote online or over the phone! Simply call 01623 45 11 11 to talk to one of our friendly team or visit www.fidler.co.uk for an instant quote.

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Beginners Guides, Case Tracker, Contract, conveyancer, Conveyancing, Conveyancing Quote, First Time Buyers, help to buy, leasehold, Leasehold Conveyancing Quote, Probate, Property Market, property searches, sale, searches, signing contracts, Uncategorized, Wills    No Comments

Happy New Year to you! Thinking about the year ahead?

As we step into a New Year, it can be a time of reflection. After
celebrating and spending time with family over Christmas, you might be
thinking about what the future will hold.

Should your New Years Resolution be to get your affairs in order?

Regardless of your age, planning ahead and putting your wishes in place will
provide peace of mind for you and your loved ones. That will certainly lift
those January blues, when the highs of Christmas are over. Creating a Will
or a Power of Attorney may seem like an odd way to shake away the January
blues, but you could be ensuring the future of your loved ones – whatever
your wishes, will be granted.

Could 2018 be the year that you buy your dream home?

Maybe you’ve been thinking of moving house and 2018 might be
the year to take action. Once you find that perfect property, we can
certainly help you with the legal side of things. Our specialist,
Conveyancing team will look after the legal (and sometimes stressful) side
of your move. We work to get things moving for you, whilst you can get on
with packing your boxes and choosing your wallpaper! Our experienced and
award-winning Conveyancing team will manage everything from searches,
deposits and signing contracts, to Exchange and final Completion. Fidler &
Pepper have a dedicated team and we’ll keep you updated 24/7 with our
secure, online case tracker.

Need a helping hand or a chat with one of our team?

If you’d like to get your affairs in order or have plans to buy, sell or
remortgage your property then come and see one of our specialist team.
Alternatively, you can give us a call on 01623 45 11 11 or visit www.fidler.co.uk

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Barratt Homes, Case Tracker, Change conveyancer, Change solicitor, Contract, conveyancer, Conveyancing, Conveyancing Quote, Do your own conveyancing, First Time Buyers, help to buy, help to buy ISA, House Prices, management companies, Property, Property Market, Property Report, signing contracts, Uncategorized    No Comments

When Would You Need To Pay A Management Company?

Some properties may have extra land surrounding them, such as a shared access, a park or just a simple piece of additional green land, which makes the surrounding area look more attractive. These areas are often maintained by Management Companies and you may be asked to pay a fee to help look after these areas. When you are buying or selling a property we may need to do some extra legal work, there may be some extra fees and delays to get this information in order.

Who Is Responsible?

The question which you may not always consider is who is going to be responsible for the maintenance and upkeep of this extra piece of land? The local authorities are reluctant to carry this out as they are already responsible for the upkeep of most roads and public spaces and therefore developers often outsource this responsibility and the cost to Management Companies.

The cost of the administration of these Companies and the works they have to carry out in order to maintain these extra pieces of land are usually shared between all the owners of the properties who use or benefit from these additional areas of land. This is usually referred to in the deeds of your property as a “rent charge”, “service charge” or an “estate rent” is another term used.

How Do You Find Out If you Have To Pay Extra Charges?

Often these extra charges will not come to light until your Solicitor is sent the deeds to the property, which could be a few weeks into the sale or purchase. The Solicitor acting for you and the Management Company may charge you extra fees for carrying out the additional work involved in the Conveyancing process and also after you’ve completed your sale or purchase. Your Solicitor will be working hard to get the right information from the Management Company as without this it can cause you delays.

Be Informed – Ask Questions And Give Information

If you’re buying – make sure you ask the current owner or the estate agents if there is any communal land which they pay extra fees to a Management Company for. This will then avoid any problems along the way of purchasing a new property.

If you’re selling – give this information to the buyer and estate agents. Also, get in touch with the Management Company as soon as the sale is agreed to pay for the Management Pack, which answers a list of queries your buyer’s Solicitors will need to know in order to avoid any delays.

Get In Touch

We have an experienced and specialist Conveyancing team used to dealing with all of the bit and bobs that happen in the Conveyancing process. We’d be happy to answer any questions you may have. If you’d like a quote for moving house then visit www.fidler.co.uk or call us on 01623 45 11 11.

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Beginners Guides, Case Tracker, Contract, conveyancer, Conveyancing, Conveyancing Quote, Do your own conveyancing, property owner, property searches, Quicker conveyancing    No Comments

After weeks of paperwork and to do-lists you’re now ready to get the keys to your new home. Have a look at our handy checklist below to avoid any delays on moving day!

  • Make sure you’ve sent your fees and purchase money to your Conveyancer in plenty of time for Completion day.  The last thing you need is to be organising a bank transfer today!
  • Be ready to hand over or collect the keys once you’ve Legally Completed. It’s in your Contract that this should happen by 2pm – but this can sometimes be a bit earlier or later.
  • Make sure you’ve organised for all your mail to be forwarded to your new house from today.
  • Don’t forget to read your meters on your old house and your new house, make a note of the readings and call your utility providers as soon as you can to give them the information.
  • Label all your boxes – especially the important ones like “Kettle” and “Mugs” (or wine glasses and bottle opener!) so you can make a cuppa while your unpacking the less important stuff!
  • Keep a list of the items you are taking and what you are leaving behind such as curtains, blinds and kitchen fittings.
  • There could be a bit of waiting a round – Make sure you phone is charged and you are ready for the call from your Conveyancer to confirm you can collect your keys. In the meantime, have a plan and don’t put yourself in a position where your sat in a van for hours waiting for the call. Remember it could be gone lunchtime before you get your new keys.
  • No-one expects your old house to be left spotless but it’s advisable to leave it in a condition you hope to find your new one in – it’s only courteous!
  • Get your friends and family to help with packing, unpacking and cleaning.  Many hands make light work and you can always bribe them with the offer of a pizza or two for supper!
  • Keep your pets fenced or locked in or if they are liable to make a run for your old house every time you open a door. Get a friend to look after them for the day while you are moving.
  • Remember that it’s only one day of madness and you have the rest of your lives in your new home to organise and unpack. Rome wasn’t built in a day, just get the basics sorted.
  • Be flexible. Depending on the amount of people in your chain, Completion can be chaotic and there may be some waiting around. There’s no harm in your buyers moving their furniture into the living room while you’re still emptying the garage!

 

If you need advice or help from our specialist and experienced Conveyancing team – simply give us a call. We’re used to the ups and downs of moving day and are happy to talk you through anything that’s worrying you. Call us on 01623 45 11 11 or visit www.fidler.co.uk to find out more.

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Beginners Guides, Case Tracker, Contract, conveyancer, Conveyancing, Conveyancing Quote, terms and conditions, Title Deeds    No Comments

glass

Picture this, you are buying a house, a lovely Victorian terrace and a few weeks after the day of completion your Conveyancer sends you an email with an attachment to a three page document advising you that this is the title to your property.

We live in a digital age

This cant be right can it? Where are the giant yellow hand written documents, the wax seals, the sense of importance? Well, unfortunately for those nostalgics out there, we live in a digital age  and these are your Deeds. Since the introduction of compulsory land registration in 2002, although these deeds are nice to have around, they mean very little as all the relevant information for the property and its ownership is registered online with the Land Registry. Lenders, when they held a mortgage over a property used to hold the deeds as collateral but once registration of a property had taken place, very often the deeds were destroyed to save on storage costs.

Pre-registration deeds

So, although in some cases, your Conveyancer might still send you a musty old folder of what we now call “pre-registration deeds” which may be very interesting to read through, they don’t really hold a lot of value anymore and we don’t treat them with the same care we used to. Most Conveyancers wont even store pre-registration deeds for you in their deeds store as it is unnecessary.

Peace of mind for you

So, if you receive a  letter saying you now hold you title, we aren’t being mean and holding back the good stuff, this is all we have. Having said that, remember that having your title registered with the land registry centrally in your name is much safer than holding those old deeds in your hand.   It means if the pre-registration deeds are lost or destroyed, its not really that much of a concern to an owner, their solicitor or a prospective buyer. It’s all safely stored for you electronically.

Have any questions?

If you have any questions about your deeds or if you want to find out if your property is registered, then don’t hesitate to speak to your Conveyancer on 01623 45 11 11.

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Beginners Guides, Buy to let, Buy your freehold, Case Tracker, Contract, conveyancer, Conveyancing, Conveyancing Quote, Do your own conveyancing, First Time Buyers, leasehold, Leasehold Conveyancing Quote, Leasehold extension, Property Report, Quicker conveyancing    No Comments

coloured_keys

What is Freehold Ownership?

Freehold means that you will be the sole owner of the property as well as being the owner of the land the property sits on and is surrounded by. This is often preferred for many buyers as you will not have to pay any additional ground rent or service charges. As the freeholder you are responsible for the repair and maintenance of the building but you will have control over when the repairs are made.

What is Leasehold Ownership?

Leasehold means that you are buying the right to use the property from the freeholder or ‘Landlord’ (the person who owns the building and land it resides on) for an agreed number of years. Leasehold is typically how flats and maisonettes are sold but is also used for houses both new and old.

If you own a leasehold flat or house you are likely to be required to pay ground rent, maintenance fees and annual service charges either on a monthly or annual basis to the freeholder. Sometimes these rents can be very low especially on very old properties but the fees can also range up to and over ₤1000 year and even more in London.

All leases are different so make sure your Conveyancer explains this thoroughly and you understand your responsibilities to the Landlord

  • You may have to gain permission from the freeholder if you want to undertake any major works on your property such as replacing your windows or extending the property
  • You may need to gain permission if you wish to rent the property out
  • Leases can be as short as 40 years or as long as 999 years – but the longer the better
  • If you require a mortgage then the lease usually needs to be to be at least 80 years
  • Leases can be extended or you can apply to buy the freehold of the property from the Landlord but the shorter the time remaining on the lease then the then more costly this becomes

Are you somewhere in the middle?

In the world of Conveyancing, there’s always another option to consider. Often freehold houses, especially on new build estates are sold as freehold but there is a clause in the title giving the responsibility to maintaining the communal areas on the estate such as shared drives, car parks and open spaces to a Management Company. Generally you would, if there is a Management Company, be liable to pay a yearly service charge to the company for its services. Remember to check the small print for any hidden costs even if a property is advertised as freehold.

Have any further questions?

Our specialist team have extensive experience dealing with both leasehold and freehold properties. Simply give us a call on 01623 45 11 11 and we will be happy to help you further.

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