As a property owner, it is important that the Land Registry is kept up to date with your details and contact information. This helps to prevent fraud and simplifies future conveyancing. There are several key times when the Land Registry should be told that your information has changed.

Firstly, the Land Registry should be told if you change your name. This is often forgotten and only becomes an issue when attempting to sell or remortgage your property. The Land Registry will need to know that you are who you say you are, and this can be more difficult to prove if your name is incorrect on the Register. This can lead to unnecessary delays at a particularly stressful time, whilst you find the necessary paperwork to prove you changed your name.

Though less common, it is also important to let the Land Registry know if your residential address changes. If the Land Registry needs to contact you, they will write to you at the address they have been provided with. If you rent the property out or the property is vacant it is important that the Land Registry has the address of the property you live in. If someone makes an application to the Land Registry which affects your property, the Land Registry may write to you to give you an opportunity to object to the application. If your address is not up to date, you may not realise that they are trying to contact you. This makes you more vulnerable to fraud.

Another time when the Land Registry should be contacted is when the owner of the property dies. If a solicitor is appointed to deal with the estate this will usually be dealt with by the solicitor, but if the estate is being dealt with by individuals the Land Registry can easily be missed. This can then become an issue when the property is sold, as the Land Registry will require evidence that the person selling the property has a right to do so. This can lead to delays whilst the documents are found and potentially, whilst probate is obtained if it has not been applied for previously.

If you need to update the Land Registry, please do give our office a call on 01206 577676. Alternatively, you can do so directly but a Solicitor will have more experience in dealing with the Land Registry and will be more familiar with their requirements and processes. In addition, Solicitors do not usually need to send original documents to the Land Registry which lowers the risk of important documents being lost.

What is a remortgage?

A remortgage is when you obtain finance for your property to pay off your current mortgage which then replaces it.  This can be very useful if your mortgage started with a fixed rate period and that has now come to an end.  While we cannot assist in finding the new mortgage product for you, we can help redeem (pay off) any existing mortgage, draw down the funds from your new lender and make sure the new lender has the first charge over your property.

How long does it take?

Happily, remortgages are often significantly quicker than sale or purchase transactions.  This is due to a number of factors:

• You are not moving home so you don’t need to factor in the availability of removal firms;
• There is no chain so you don’t need to work with the available of preferred dates of any buyers or sellers;
• Often you don’t need to undertake searches or attend to any enquiries. As you live at the property (or have owned it for some time if you are remortgaging a buy to let property) this is usually sufficient for the lender and so they do not require in depth enquiries about the property before they use it as security.  While they may waive a full set of searches it is likely you will need to pay for ‘Search Insurance’.  It is a one off payment and the cost of it is typically based on the type of property, location and value.  

Can I transfer the property to someone else at the same time?

Yes- during a remortgage transaction the property can be transferred to a spouse or family member so long as both the new owners are on the mortgage. Please be aware though that once the property is in joint names both parties will need to consent to undo any transfer, the transfer may give rise to a Stamp Duty Land Tax liability and any gift / transfer may be a disposal for Capital Gains Tax purposes. Any property transfer should always be investigated thoroughly with a tax expert prior to exchange.

For further information on remortgaging, please don’t hesitate to contact our Conveyancing Team.

The BBC recently reported that HM Land Registry has paid almost £7m from their indemnity fund to victims of property fraud in the 2021-22 year. This is a significant increase from the previous year, where approximately £5.44m was paid.

Unfortunately, this indicates that the risk of being a victim of property fraud is increasing and should be taken seriously by property owners.

There are, however, several things that you can do as a property owner to help protect yourself from property fraud.

The first is to sign up to HM Land Registry’s property alert service. This allows you to monitor Land Registry activity for your property, so if someone applies to register a mortgage or change of ownership you would be notified by email. This would give you the opportunity to make the Land Registry aware of the fraud (or mistake) as quickly as possible. You can monitor up to ten properties with this service.

The second way to protect yourself is to register a counter-fraud restriction on your property. This can be especially useful if the property is vacant or rented out. In a recent case in Southampton, fraudsters took a tenancy of the property and impersonated the owner to fraudulently sell his property.

The counter-fraud restriction is helpful because it indicates that the property is at a higher risk of being targeted, this makes the legal professionals involved in the transaction aware that additional checks should be undertaken to make sure that the seller is who they claim to be.

If you would like to register the counter-fraud restriction on your property you can contact the Land Registry who should be able to assist you, alternatively if you would like assistance from a legal professional, please contact our Conveyancing Team who would be happy to help.

According to HM Land Registry, as of September 2019 87% of land in England and Wales was registered.

But what about the other 13%?

If you have lived in your property since prior to 1990 and have not taken a mortgage in that time, it is possible that you may be in that 13%, which means that the Land Registry has no record of your property or the fact that you own it.

But do you have to register your property?

Property only needs to be registered when it is transferred, mortgage or inherited, but there are several benefits to registering your land voluntarily. Firstly, the Land Registry charges a reduced fee for processing voluntary first registrations. Secondly, it makes establishing that you are the owner of land far easier. Thirdly, it makes it easier for you to sell or mortgage your property later, and finally, it helps to make you less vulnerable to fraud.

But do I need a solicitor to register my land, or can I do it myself?

The Land Registry will accept applications directly from the owner of land, but it can be beneficial to instruct a solicitor to deal with this for you. Land Registration can be complex and time consuming, the Land Registry has strict requirements which can be difficult to understand. A solicitor will know exactly what is needed, which means that it is less likely that the Land Registry will raise a query or reject the application. Another benefit to instructing a solicitor is that solicitors do not need to send the original deeds to the Land Registry, risking them getting lost or damaged in the post. The Land Registry will accept certified copies of the documents from a solicitor, provided the solicitor is holding the original documents.

But what if I cannot find my deeds? Does this mean my land can’t be registered?

If you cannot locate your deeds, it is best to speak to a solicitor about the next steps. It is possible to register land without the original deeds in some cases and a solicitor may be able to help you.

If you would like help to register your land, we would be more than happy to assist you. Our Conveyancing Team are available for appointments so please do give us a call on 01206 577676. Any email enquiries can be sent to [email protected]

Many people are surprised by just how expensive it can be to buy a property, in addition to the deposit you will need.

​You will need to pay fees to HM Land Registry to register you as the new owner of the property, you may choose to instruct a surveyor for a comprehensive property survey and your mortgage advisor will charge a fee for arranging your mortgage (should you engage one.) Stamp Duty Land Tax (‘SDLT’) is also payable to HM Revenue and Customs, even if you are a first time buyer and you pay over £300,000  . You may also find that you need to pay notice fees to the owner of the building if you purchase a flat.

It may be tempting to try and save money by choosing a solicitor who charges very low fees,  but this is not always the best (or often even the cheapest) choice in the long run.

A quick internet search produces quotations of as little as £300.00 for two first time buyers to purchase a house for £250,000.00. At first look this seems like a good deal, but in the small print you will find additional fees of £419.33 are also payable. These instant, online quotations can be very misleading and the fees can end up being significantly more than expected.

In October 2017 the Solicitors Regulation Authority (‘SRA’) undertook an investigation into the clarity of quotes provided to prospective clients by law firms.  The outcome of the investigation was the requirement for SRA regulated law firms to be clearer and more detailed in the quotes they provided to make sure the total cost being charged was clear from the outset.

While this requirement has been in place for some time for SRA regulated firms not all conveyancing firms are regulated by the SRA. Further, it is a large undertaking for the SRA to check all quoting procedures for all the law firms in the country so there may still be some misleading information being given out.   

A conveyancing transaction is complicated and oftentimes technical. There are regularly a large number of documents to review and draft, together with checking for all the minor specifics such as spellings, dates and prices.

Solicitors who charge lower fees will have less time to dedicate to your matter as they will need to work on more cases to cover their costs. This can lead to a lack of communication with you and potentially key issues being missed, this  could have a significant effect later on when you look to sell the property.

It is important that you instruct a solicitor who you can trust will be diligent when working for you and communicate with you. We offer detailed quotes from the start of any transaction so you can be clear how much you will pay, for what and an estimate of how long it will take.  You will also have the same fee earner throughout the transaction so you know that the person you speak with will know all the details when you call.

Our Conveyancing Team are available for appointments so please do give us a call on 01206 577676.

Any email enquiries can be sent to [email protected]

Owning a Second Property- what to consider:

​It is estimated that around 10% of home-owners have a second property, either to use as a holiday home or as a rental property.  If you are looking to purchase an additional property, that won’t be your main home, here are the key things to consider:

1. If you are purchasing with a mortgage you will need to make sure that the mortgage product you have is suitable and that the lender knows what you plan to do with the property. Be aware that a common feature of buy to let mortgage offers is the requirement that any renter be independent i.e. not family.

2. Stamp Duty Land Tax (‘SDLT’) will be more expensive. On a first property purchase you will not pay any SDLT on the first £125,000.  From £125,001 to £250,000 you will pay 2% and as the purchase price increases so does the percentage payable, in small increments.  With a second property you will pay an additional sum on top of the typical SDLT payment.  Meaning a £400,000 purchase goes from £10,000 to £22,000.

3. There will be tax implications on sale with Capital Gains Tax likely being due. This is an area that you will need to discuss in detail with your accountant.

4. It has been reported that the seaside town of Whitby in Yorkshire is looking to pass legislation that reduces the opportunities for investors to purchase holiday homes/ second homes. It is worth noting that not everywhere will welcome a resident that only comes when the sun shines.

5. If you are looking to rent the property out (to long or short term tenants) you will need to be prepared to meet the costs of running the property during any time it is empty. These costs can rack up quickly: council tax, gas and electricity plus any insurance.  If you have insurance (which will be a requirement of any lender if you purchased with a mortgage) you will need to make sure you can visit the property regularly or hire help to assist you as the insurer will want to make sure no post has built up at the door (fire hazard) and that pipes haven’t burst during any cold spells.

6. As a landlord you have safety obligations that you must fulfil- you must fit and test fire alarms and carbon monoxide alarms.  Every year all gas installations (boiler, cooker, gas fire) must be checked and serviced.

Having a holiday home is a great luxury but if you are not fully aware of the reality it can ruin the dream.

If you have any questions about renting out your property or purchasing a second home please contact the team on 01206 577 676 or email [email protected]