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If you’re planning on buying a property in England or Northern Ireland, one of the key costs that you’ll need to factor in is Stamp Duty Land Tax (SDLT). Whilst it may seem confusing at first, as a lot of taxes can be, understanding how it works can help you budget more accurately and avoid surprises later. Simply, Stamp Duty is a tax that you pay when purchasing land or property over a certain price threshold. The amount that you pay depends on the value of the property and

Saving for a house deposit is often one of the biggest challenges when buying a property. With the rising cost of living, increasing house prices and cost of rent, it can feel like a dauting task. However, with the right approach and a clear plan in place, it can be possible. I’m not one of these people that says stop buying meal deals or avocados, but small steps now can make a big difference in the future. The more deposit you can put down upfront, the better your options a

A relationship breakdown can be hard enough at the best of times, one of the most worrying and important financial questions is: what happens to the property and the mortgage? Whether you’re looking to stay in the home, or move on, there are several routes available and the right solution will depend on a number of factors. In most cases, separating couples will either decide to sell the property and split the proceeds or for one of the parties to buy out the other’s share an

A Decision in Principle (DIP), sometimes referred to as an Agreement in Principle (AIP), or a Mortgage in Principle (MIP), is an initial indication from a lender of how much they may be willing to lend you based on a review of your financial situation and a credit check. It is NOT a formal mortgage offer but gives you a strong ideal of your borrowing capacity and helps demonstrate to estate agents and sellers that you are a serious buyer. What does a Decision in Principle i

There are many factors that affect a lender's decision to increase or decrease their rates of interest, and they don’t have to happen in the UK to influence what you pay on your mortgage. Increased periods of heightened geopolitical tension, such as what we are seeing in the Middle East, can create ripple effects that reach the UK economy very quickly. This uncertainty in global financial markets leads directly to increased interest rates, an increase in lender activity and a

When you're remortgaging, your solicitor will send you a detailed questionnaire to better understand your transaction. Each firm structures these differently, but they generally cover similar questions. At first glance, the questionnaire can feel daunting, as there are often over 100 questions. However, these documents are usually designed as a “one size fits all” to cover many transaction types, so a large number of sections won’t apply to a standard remortgage. You’ll lik

Making the decision to remortgage your property is often lead by the opportunity to access a better rate of interest or borrow more money. Whilst a product transfer with your existing lender is straight forward and simple, a remortgage to a new lender involves updating some important legal documents. Your current lender will have a registered charge on your property deeds that you are unable to sell the property without them being informed. If we are changing the lender, we n

A lot of people that we speak with don't fully know what a mortgage is - only that they need one to buy a home. This guide explains the basics and helps you understand your options. What is a Mortgage? A mortgage is essentially a long-term loan used to purchase land or property. The loan is ‘secured’ against the property itself so if you don’t keep up with the repayments the lender has the authority to take the house off you and sell it in order to pay off the debt. Most fi

When you purchase a property, you need a legal representative to guide you through the complexities of the process. If you are buying and selling, then it is always advisable to use the same legal firm to handle both sides of the transaction. Below is a basic step by step guide as to what you can expect on your journey, with some key milestones along the way. And so it begins Once you’ve decided on the best conveyancer to represent you, you will need to formally instruct them