Currently, a solicitor who is performing “reserved legal activities” (activities which only a solicitor is permitted to perform such as the key elements of a conveyancing transaction) for the general public is only permitted to practise in a firm wholly owned by solicitors. The Legal Services Act 2007 (“the Act”) however introduces a new type of business entity, the Alternative Business Structure (ABS).
Alternative Business Structures – Business Entity
March 14th, 2011 HIP-Consultant.co.uk Posted in Estate Agents, Legal, Mortgages 2 Comments »
Relying on the Mortgage Lender’s Valuation Report?
February 8th, 2011 HIP-Consultant.co.uk Posted in Legal, Mortgages 4 Comments »
Before agreeing to lend money on a property a mortgage lender will instruct a valuer to carry out a basic report, called a valuation report. The report does not go into any great detail but will give a market value figure which the lender will rely upon when deciding how much it ought to lend.
Different Types of Property Surveys
January 24th, 2011 HIP-Consultant.co.uk Posted in Mortgages, Property Market 3 Comments »
Before buying any property you are highly encouraged to have a survey carried out. In fact if you are buying with a mortgage then your lender will insist. If you don’t have a survey then you are accepting the property in whatever condition it happens to be in, regardless of whether the seller is aware of any defects. There may be problems with the property that are not apparent from just looking around.
Securing a Debt Against Another’s Property
November 10th, 2010 HIP-Consultant.co.uk Posted in Legal, Mortgages, Property Conveyancing 6 Comments »
In terms of a person’s assets, land is unique in that a debt can be secured against it without the owner giving up control of the asset. Items can of course be bought on hire purchase agreements but these remain the property of the seller until the debt is paid, and an item can be pawned but the pawnbroker will retain it pending full repayment.
Is the Property Ladder Broken?
October 28th, 2010 HIP-Consultant.co.uk Posted in Mortgages, Property Market 9 Comments »
Broken Ladder: 3 years without rent, food, clothing – then you can afford a deposit.
New research out today reveals that the average first time buyer (FTB) would have to save every single penny of their earnings for more than two years to have a chance of getting a foot on the housing ladder. In London it would take three years.
De Mystifying the Remortgage Process
August 9th, 2010 HIP-Consultant.co.uk Posted in Mortgages, Property Conveyancing 2 Comments »
With banks gradually starting to lend again and while interest rates are still low; now could be considered a good time to be thinking about remortgaging, so as to secure a good rate of interest for a few more years.
UK Mortgage Lenders Take a Leap Forward
August 3rd, 2010 HIP-Consultant.co.uk Posted in Financial Products, Mortgages Comments Off on UK Mortgage Lenders Take a Leap Forward
The state of the property market was hot news a year ago but with the general election and World Cup fever, some of the recent developments seem to have been missed by the national press. This absence is quite surprising as there has been a boost of optimism and the buy to let market has undergone a significant change led by one of the largest lenders; The Mortgage Works (TMW).
Time to Consider Buying Your Council Property?
July 22nd, 2010 HIP-Consultant.co.uk Posted in Mortgages, Top Tips Comments Off on Time to Consider Buying Your Council Property?
The Right to Buy scheme, introduced under the Housing Act 1985, is a great way for council tenants to climb that all important first rung of the property ladder. It allows a qualifying tenant to purchase their council property at a significant discount.
A Guide to Mortgage Rescue Scheme
July 19th, 2010 HIP-Consultant.co.uk Posted in Financial Products, Mortgages, Property Market 4 Comments »
The government’s mortgage rescue scheme, which is not to be confused with commercial schemes which may describe themselves as mortgage rescue but are really sell to rent schemes, is a state funded, not for profit scheme which aims to help home owners stay in their homes where they would otherwise be repossessed and evicted.
Guide to Home Repossession – Ins & Outs
July 12th, 2010 HIP-Consultant.co.uk Posted in Legal, Mortgages, Property Market 7 Comments »
What a lender needs to do before it can repossess a property, what happens when a house gets repossessed and what to do if your home is at risk from repossession
Nationwide – house prices rise again
August 28th, 2009 HIP-Consultant.co.uk Posted in Mortgages, News, Property Market Comments Off on Nationwide – house prices rise again
Nationwide have published their monthly report stating that house prices have risen for the fourth consecutive month. In August, it is claimed that we have seen property prices increase by 1.6% making the average house price in the country £160,000. However, is this the recovery most are looking for?