Proposed Mortgage Regulations update

As a Conveyancer it is important to my profession has a whole how the buying of property is funded.  In the majority of conveyancing transactions a conveyancer is not only instructed on behalf of the client but also on behalf of the lender which means that any property you are acting for the client in the purchase of you have to certify on behalf of the lender that the title to the property has a good and marketable title, i.e if anything went wrong the lender would be able to repossess the property and theoretically get their money back, although if there is any shortfall the lender would be able to look to the borrower for up to 12 years afterwards for the repayment of any shortfall. Click here for the full story...

Conveyancing - SDLT update

20th April 2010

This article is an update on Stamp Duty Land Tax.  In the March 2010 Budget the limit for first time buyers to pay SDLT was raised to £250,000.   The first time buyer must not have purchased a property anywhere in the world and also must not be contemplating buying a property with someone who has already puchased a property otherwise they will not be entitled to the nil exemption.

How the HMRC will enforce this rule is not entirely clear at this time but first time buyers should be prepared to sign an indemnity that they have never purchased a property before if asked to do so. 

Intestate succession

In February of this year it was announced that the sums that would be left to dependents would be increased. Surviving spouse alone where there are no issue parents or brothers or sisters of the whole blood, (i.e. having both the same parents as th deceased), or their issue,

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