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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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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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Beginners Guides, conveyancer, Conveyancing, Conveyancing Quote, Japanese Knotweed, Property, Property Market, Quicker conveyancing    No Comments

What Is Japanese Knotweed?

Japanese Knotweed (Fallopia japonica) has reared its ugly head in the news again lately reminding us all of the terrible problems this weed can cause for homeowners. This troublesome plant is renowned for growing at a ridiculous rate of up to 10-20cm a day during the summer months and is classed as an invasive species in the UK. Left untreated the roots of Japanese knotweed can be considered a risk to the structural integrity of a building, mortgage lenders are very wary of it, prospective buyers may not get a mortgage and it can sometimes make the property unsellable.

It’s A Serious Business!

Due to its fast growing and destructive nature, it is an offence under Section 14(2) of the Wildlife and Countryside Act 1981 to plant or cause it to grow. It is also classed as controlled waste and requires specialist disposal to prevent spreading; substantial fines or even prison sentences can handed to people disposing of the weed irresponsibly if it results in a spread in the wild.

What Happens If You Want To Sell Your Property?

Although it is not illegal to have Japanese knotweed growing in your garden, you are under a legal duty to disclose it when you sell. Not disclosing it would be classed as a misrepresentation and a buyer can take a seller to court for compensation if its proved the sellers deliberately withheld information or tried to hide its existence.

Don’t despair…

If you think your house is affected by Knotweed, it can be treated effectively. It has a large underground network of roots which need to be destroyed to kill the plant using chemicals, although it can take up to five years to be totally eliminated.

Contact a specialist

If you discover your property is affected , you will need to contact a Japanese Knotweed specialist who will be able to assist with a Management Plan. This plan can be submitted to Mortgage Lenders and Valuers and often assists in gaining lending that may otherwise have not been offered. In addition, on advice from the Institute of Chartered Surveyors many larger lenders have relaxed their rules as some evidence suggests that surveyors have been unsure of how to assess the risk of Japanese knotweed, resulting in inconsistent valuations.

Get In Touch 

If you have question about this issue or would like a Conveyancing quote – please give our specialist team a call on 01623 45 11 11.

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conveyancer, First Time Buyers, help to buy ISA, Property Market, property owner, Uncategorized, Wills    No Comments

Everything to do with moving house is stressful, right? Not necessarily!

Of course, moving is a busy time, and there are so many deadlines and things to organise – Finances, packing, post redirection, schools…the list goes on…

We can’t help with everything, but we can take the weight off your shoulders when it comes to the legal side of moving house.

Let us help you…

Our award-winning Conveyancing teams use the latest technology and their years of experience to sort out the legal side of things as efficiently and smoothly as possible; from searches, deposits and signing contracts, to exchange and final completion. What’s more using our text message alerts and password protected case tracking system, we’ll keep you in the loop 24 hours a day 7 days a week, with access to your whole file online.

We’re really proud that our Conveyancing service has been recognised in both local and national awards. These awards demonstrate our commitment to improving our processes, using technology to provide a quality service and showing that we receive positive client feedback. Check out Matt Slade, Head of our Conveyancing team (pictured above) after winning the LFS Conveyancing Firm of the Year award 2017 – East Midlands region.

We can help with Conveyancing AND getting your affairs in order 

Our teams are second to none when it comes to Conveyancing but you should also know that we have the Wills, Trusts and Probate specialists too. When people move house, they sometimes forget to change their Will and its vitally important you make sure its up to date.

Get a quote in seconds…

We’re forward thinking and progressive but were also a friendly local solicitors, established in the area since 1888.  We like to think we are the best of both worlds and that is why we have won a number of awards, gained some fantastic client feedback and have exciting plans for the future – watch this space!

Take a look at www.fidler.co.uk  or call us on 01623 45 11 11 to get a quote in seconds!

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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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Conveyancing, Conveyancing Quote, Deposit, First Time Buyers, help to buy, help to buy ISA, Property, Property Market, Quicker conveyancing    No Comments

What is a Help to Buy ISA?

A Help to Buy ISA is a new type of ISA which have been created to help first-time buyers save for a deposit for their home. As you are busy saving for your deposit you’ll receive a helping hand from the government to boost your savings amount and help you to get onto the housing ladder. The government will add a generous 25% on to your savings, up to a maximum of £3,000 on savings of £12,000 (this is per first time buyer. So, if you and your Partner both open an account you could receive up to £6,000 on top of your own savings).

Find out more and get organised!

As soon as you decide you want to start saving for your first home you need to set up an ISA account with your bank. This means you start saving as soon as possible as the more money you save the more you will benefit from the scheme.

Make sure you know the limits of the scheme

  • The government boosts your savings by 25% (i.e. a bonus of £50 for every £200 you save)
  • You can save up to £200 per month
  • The maximum bonus you can claim is £3,000 so to get the best bonus you would need to save £12,000
  • The house you purchase must cost a maximum of £250,000 (or £450,000 in London)

 

When you have found a house to buy…Tell us you hold a HTB ISA as soon as possible. Our initial information forms will ask you about this

  • Complete the forms we send you

Once we are aware you wish to take advantage of the scheme, we will send you a form to complete giving us information about your ISA account and asking for your authority to apply for the bonus on your behalf.

  • Go to your bank to close the account before completion happens (we will talk to you about this)

Your money will be sent to another account for you. You will need to instruct your bank that you wish to close the account and they will transfer your savings into another account of your choosing. They will then provide you with a closing statement.

  • Provide us with the closing statement

We need to submit this to the government website to prove to them the amount of savings you had in your ISA.

We will submit your signed authority form and closing statement to government website with a request for funds a few days before you complete your purchase and you will receive a letter from the government, through us, confirming the bonus has been approved and is being transferred to us.

  • We will ask you for your deposit less the sum we expect to receive from scheme

Don’t worry if this means you have less than a 10% deposit. Most sellers will agree to a lower deposit in these circumstances. You will receive statements from us showing the bonus sum we expect to receive.

  • We receive the HTB Bonus before completion and use this towards the purchase price.

 

If you are a first time buyer and you’re interested in a Help to Buy ISA…

We have a specialist team who have processed hundreds of Help to Buy ISA’s and would be happy to help you with any questions you may have. Simply call us on 01623 45 11 11.

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Beginners Guides, Case Tracker, Change solicitor, Contract, conveyancer, Conveyancing, Conveyancing Quote, DIY Conveyancing, Do your own conveyancing, First Time Buyers, Property, Property Market, property owner, Property Report, property searches, Quicker conveyancing, sale, searches, signing contracts    No Comments

House with key icon

So, your Conveyancer keeps twittering on about ‘exchanging’ and ‘completing’ but, what is exchange? What happens on completion?  Let’s face it all you want to know is when you get your keys right?  So what are we actually talking about?

Exchange

When your Conveyancer talks about exchange they are referring to the legal ‘exchange of contracts’. In simple terms this procedure legally secures the purchase or sale. It is called an exchange because each Conveyancer has one signed copy of the contract which they exchange with each other. Both Conveyancers agree to the terms in the contract verbally over the phone and confirm the date of legal completion. Your Conveyancer is legally obliged to send to the sellers Conveyancer your 10% deposit at this stage, although in practice this rarely happens and is just held by your Conveyancers on a promise it will be sent with the rest of the purchase monies on completion. Your Conveyancer may call you to get your verbal authority to exchange for you on the day and afterwards you will need to make sure that your buildings insurance for your new property is in place from the date you move in. Make sure that you are absolutely sure before you exchange contracts as if you fail to ‘complete’ after you have exchanged contracts you will lose your 10% deposit.

Completion

This is the day you have been waiting for. It’s the day you get your keys. On the day of completion (or generally the day before) your Conveyancer will have received the money from your lender if you are having a mortgage and will send this money plus any other money due from you to your seller’s Conveyancers by way of a telegraphic bank transfer. This transfer can take anything from a few minutes to a few hours to reach the seller’s Conveyancers bank account. Once they have received the money then completion is deemed to have taken place and usually keys can be released to you at your estate agent, or from the seller directly, soon after. However the contract will often state that the sellers can take until 2pm to move out and arrange for a key hand over if they need more time.

The final part…

While you’re unpacking we carry on working on your file and will pay stamp duty and then apply to the Land Registry to transfer the property in your name. It might be a few weeks until you hear from us again when we send you the deeds to your new home.

Need help with your conveyancing?

If you would like a conveyancing quote, more information or to see our frequently asked questions then please visit our website or call 01623 45 11 11 and speak to one of our experienced team.

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Beginners Guides, Case Tracker, Contract, conveyancer, Conveyancing, Conveyancing Quote, DIY Conveyancing, Do your own conveyancing, drainage search, environmental search, First Time Buyers, full structural survey, Property Market, property searches, Quicker conveyancing    No Comments

Clip Board

Solicitors like Latin. Conveyancing Solicitors like one Latin phrase in particular, CAVEAT EMPTORThis means “Let the Buyer Beware!”

In English Law it is the responsibility of a purchaser to ascertain whether the property is structurally sound, whether there are any physical defects and also whether there are any legal issues. This means your seller is not necessarily legally obligated to reveal defects in the property.

Searches on the property you are buying

Searches are investigations that your Conveyancer carries out as part of their Conveyancing work.  They send a standard list of questions to certain authorities in order to obtain information about the property. The searches most commonly undertaken are:

Local Authority Search which gives information such as whether there have been any planning applications or building regulations applied for the property.  This can indicate whether the works done to the property were undertaken in accordance with statutory regulation.

A Water & Drainage Search shows whether the property is connected to proper drainage and a water supply.

Environmental Reports indicate whether the property is at risk of contamination, flooding, subsidence and other environmental factors.

A Mining Search may be required depending on the property’s location. You may need to have a coal, tin or some other kind of mining report undertaken to check that the property has not been adversely affected by past mining activities.

Surveys

A Survey must be carried out by a surveyor.  It is not generally a legal requirement but is very much recommended.  A surveyor can check that the property is structurally sound, whether there are any defects and even give your Conveyancer some hints as to whether they need to look into a legal matter further. A surveyor will visit the property and see it physically, in person. Remember although a Survey is not a legal requirement, because of the Buyer Beware rule if you find something wrong with the property after completion, you’re stuck with fixing it yourself.

At Fidler & Pepper Solicitors we have our own search company so we can run the searches quickly alongside our conveyancing which makes the process much easier.

Get in touch – we can help or provide you with a quote

Take a look at our website if you would like a conveyancing quote, need more information or want to see our  frequently asked questions. If you would like to speak to one of our experienced team please call 01623 45 11 11.

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Beginners Guides, Buy to let, Change conveyancer, Contract, conveyancer, Conveyancing, Conveyancing Quote, Deposit, Do your own conveyancing, First Time Buyers, Property, Property Market, property owner, Property Report, property searches, Quicker conveyancing, Stamp duty    No Comments

hollow-out-alphabet-colored

We know that moving house can be a stressful time and there is a lot of information to take in and understand. Our experienced conveyancers have pulled together a quick A-Z reference guide of the most common conveyancing terms to help you through the process.

A-AGREEMENT

The legal document you sign to agree to sell or buy the house. But do not worry nothing is set in stone until Exchange of Contracts. See below.

B-BREACH OF CONTRACT

Is if either party pulls out once Contracts have been exchanged.

C-COMPLETION DATE

The day you move out of your old home and get the keys to your new one!

D-DEPOSIT

This is usually 10% of the purchase price, which we require to be paid to us to Exchange Contracts.

E-EXCHANGE OF CONTRACTS

This is the day you DO NOT look back as you are legally tied into the deal!

F-FIXTURES AND FITTINGS FORMS

A list of things the seller has agreed to leave you.

G-GAZUMPING

Where another buyer puts a higher offer in than yours.

H-HOME BUYERS REPORT

A Survey that we would strongly advise you have carried out on the property. BUYER BEWARE!

I-INDEX MAP SEARCH

This is a search carried out to see if a property is registered at the Land Registry.

J-JOINT TENANTS

Means your share in the Property if you passed away would automatically pass to the surviving owner.

K-KNOW HOW

This is the trust you can put in us to know how to do the job.

L-LAND REGISTRY OFFICE COPIES

These are your deeds showing your ownership of the property and are held electronically by HM Land Registry.

M-MORTGAGE DEED

The document you sign to confirm you will pay your mortgage payments to the mortgage company during the term of your mortgage.

N-NEGATIVE EQUITY

When the amount you owe on your mortgage exceeds the value of the Property.

O-OCCUPIERS CONSENT

The signing of a Deed by a person living in the property who is not the owner confirming that they will move out on completion of a sale or if the mortgage company takes possession of the property.

 P-PROPERTY INFORMATION FORM

The document the seller fills in which asks lots of questions about the property, such as boundaries, alterations to the property, legal rights, utilities details.

Q-QUASI EASEMENT

Is a general legal right over land, it could be something which is used for the benefit of the property, such as right of way, drainage etc.

R-REDEMPTION FIGURE

The amount owed on your existing mortgage.

S-STAMP DUTY

Tax which has to be paid to the Inland Revenue on the purchase of a property.

T-TRANSFER DEED

The document which is sent to the Land Registry on completion and registers the property in your names.

U-UNILATERAL NOTICE

Where someone else has registered an interest on the title deeds to your property.

V-VENDOR

Another term used for the seller.

W-WAYLEAVE AGREEMENT

A deed entered into by Service Providers to install piping or cabling over or under the property for your use of electricity, water etc,

X-MARKS THE SPOT

We always mark where we require you to sign deeds and documents with an X.

Y-YOU

As our client YOU are important to us and we will ensure we do our very best.

Z-ZZZZZZZZZZZZZZZZZZZZ

Sleep easy while we make Conveyancing a stress free experience for you!

If you would like a conveyancing quote please call 01623 45 11 11 or visit our website for more information. Have a look at our frequently asked conveyancing questions or to see a guide to how the conveyancing process works.

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