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If you want to save between £1250 and £2500 and you are a genuine first time buyer then you need to complete on your purchase by 24th March 2012.
The government announced this change yesterday.
It is very disappointing as we need first time buyers to stimulate the market and complete chains.
That amount of money is definitely a real assistance and is targetted at exactly the right people.
If you are in this position then we will do everything we can to complete prior to the deadline.

thanks
Matt

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Hi,
Just wanted to shout out loud about how good our new online case tracker is. It is like having the file out in front of you. You can see letters received from the other solicitors and the letters we have sent out.

Blah Blah Blah. So what – how does it help you the client?

Two examples:

One of our clients who was on case tracker saw that a letter had been received that morning on his sale. He replied to all the questions on the letter and emailed them straight back to Dawn who was dealing with the matter. She emailed them to the other side the same day.
Previously (and this is how most other firms work) we would have posted the enquiries to the client and perhaps 2 days later we would have received the replies and then these would have been posted to the solicitors on the other side.

So it can take 4 hours rather than 4 days!

For some clients who just want to moved as quickly as possible this has to be a blessing.

To be balanced on another matter we didn’t deal with a letter as quickly as we should have done and this was picked up by the client. I had nowhere to hide as you the client see as much as we do. I apologised and focused on pushing the matter through.

Please try a conveyancing quote 

thanks

Matt

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Property Market    No Comments

The BBC has reported today that house prices have increased again in the month of November.

 

Nationwide Building Society have stated that the average house price rose by 0.4% in November to £165,798.

 

The other good news reported is that on Nationwide’s own mortgage data the BBC have reported a 1.6% year on year increase and the number of mortgages approved for house purchases is as its highest level in nearly two years.

 

If you are buying or selling a property please contact us for a competitive conveyancing quote.

 

Christie Limb

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Property Market    No Comments

That headlines says it all really – the CEBR are the Centre for Economics and Business Research which  provides independent economic forecasts and analysis to private, public and third sector organisations.

“We do not expect a house price boom’ says Douglas McWilliams, Cebr Chief Executive. ‘But the housing shortage is likely to push prices gently upwards. Because we have revised down our forecast for economic growth from 2012 to 2015, we have also cut our forecast growth in house prices to 2015 from 15.8% to 14.0%.”

Looking beyond the headline – they have actually revised their growth forecast down slightly (from 16% growth to 14% growth) – but it’s still growth. I’m really glad they aren’t forecasting a boom – aside from that being unlikely, a boom does no-one any favours. A nice steady property market with transactions gradually getting back to normal levels would be best for everyone, helping to grow the economy again. However you shouldn’t underestimate the suppressed demand that is out there – the number of people moving house over the last 3 years has been 40-60% lower than the average for the previous 40 years. When those buyers do return to the market the result may be a boom in transactions because the existing housing supply problems will be exacerbated. That in turn could lead to a boom in prices as well. Fingers crossed for nice steady growth…..

The original report is here:- CEBR forecast house rise over next 5 years

If you are looking to move house and need a Conveyancing quote then let us pitch for your business

 

 

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Solar Panels    No Comments

 I blogged last week about a how enforceable a lease was from an installers perspective.  It occurred to me however that it might be an idea to blog about it from the perspective of someone getting the panel installed.

1. As a homeowner it is likely that your property will be mortgaged. Your agreement with your lender will stipulate that you must seek your lenders permission before you carry out any alterations to the property. Installing the panels would certainly be considered an alteration so you should seek your lenders approval;

2. Consider who will be paying your legal fees and whether you need independent advice.  Most leases are will be standard but it is always a good idea to have the lease checked;

3. You should ask that the installer is accredited with the Microgeneration Certification Scheme;

4. You will require evidence that the proper installation and all relevant consents for the installation have been obtained;

5. The agreement and lease should cater for the removal of the panels and repairs etc;

6. You should inform your building insurers of the installation;

7. Most importantly your lender will want a sufficient break clause to be inserted into the lease to govern when things go wrong.

Although the installation of panels may seem like a good idea you should make sure you consider all the documentation before you sign it.  If you require any assistance with the above or are considering entering into such a scheme please contact me on wjames@fidler.co.uk or visit our website for other blogs written on this topic.

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Leasehold Conveyancing Quote    No Comments

As a property lawyer there is a tendency to forget that clients do not have the same depth of knowledge as myself so I have taken it upon myself to produce brief guides on the basics.

I deal predominantly with residential and commercial lease and there are many different types of transactions that involve leasehold elements.

Concentrating on residential leases, you can purchase either a leasehold flat or house although leasehold houses are not as common as flats.

Some shared ownership schemes incorporate leasehold elements to allow you to get on the housing ladder with the owner taking a lease over the property with the housing provider retaining the freehold of the property.

Essentially, when you instruct a solicitor for a leasehold transaction this will fall into the following main categories:

1.    Leasehold Sale; or

2.    Leasehold Purchase; or

3.    Shared Ownership scheme purchase.

I have drafted separate blogs detailing the specifics of what is involved in each the 3 options above so please view them on the Fidler & Pepper website. Alternatively contact me directly on 01623 451111 or email on wjames@fidler.co.uk

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Solar Panels    No Comments

The Solar Panel industry has seen some dramatic growth in the last couple of years with particular attention to the governments Feed in Tariff (“FIT”) scheme prompting some of this growth. The FIT is being cut in December, which may cause a reduction in the amount of schemes or installations that are being offered for free. If you are a business installing these types of systems under this scheme now might be the time to ask yourself the questions below to ensure that you are up to date with the registration of the leases for the panels.   

Particular attention should be paid to the following:

1.        Ensure that both registered proprietors are parties to the lease. Failure to get both the owners signed onto the lease will not potentially make in enforceable (as one owner may claim no knowledge of the agreement) but it will prevent the lease from being registered against the property;

2.        Ensure that the lease is registered. This might sound obvious but just because the lease has been signed by both parties does not mean that it will protected against a bona fide purchaser for value, e.g. a normal purchaser. The situation could arise where the panels are installed; the owner subsequently sells to a buyer in good faith. If the lease is not registered then the buyer will have no knowledge of its legal status and can take the property free of the lease. You will obviously have an action against the original owner (if you can find them) but would perhaps not want the hassle of having to go through this process;

3.        Perhaps the most important aspect is gaining the lenders permission. Most properties will have a lender on the property whose permission will be required before the lease can be registered against the property. Although most lenders will be prepared to give permission, this is not a given and some lenders have refused to register the lease. The lenders that are prepared to register the lease may charge for the permission or want to alter the lease as a result of the lease not being compliant.    

Should the above be of interest to you or you have questions in relation to the above please contact William James on wjames@fidler.co.uk or contact me on 01623 451111 or alternatively visit our website.

 

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Solar Panels    No Comments

You may have heard recently that the feed in tariffs for solar panels has been cut dramatically by the government. Essentially as at the 12th December 2011 the amount payable under the Feed in Tariff  (“FIT”) scheme has been cut from 43.3 p/kWH to 21p/kWH.  It would appear that the scheme has been a victim of it’s own success as the uptake has far exceeded what was anticipated.

The effect of this may be more significant than merely just homeowners being able to claim less money back through the feed in tariff.

There has been many schemes available where companies will offer free solar panels and free installation on homeowners property. They are able to use as much generated electricity, as they want with the FIT going back to the company that installed the panels. The rationale being that they would make their money over the next 25 years through the FIT.  On the face of it, with this tariff being cut, it would appear that these types of schemes are no longer sustainable and the days of free solar energy for homeowners are over.

Speaking to client’s in the industry this is not necessarily the case. Prices of solar PV panels have dropped significantly so this will absorb some of the FIT reduction. Also there may be scope for new schemes to emerge where although not free panels are offered, heavily subsided panels can be offered making it a more affordable option for homeowners.

The bottom line is that if you want free solar energy, now is the time to act if you can find a supplier that is able to fit a system before the 12th December.

If you are a business involved in these type of schemes or a homeowner thinking about have one of these systems fitted please contact me on wjames@fidler.co.uk or give me a call on 01623451111.

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Uncategorized    No Comments

I was listening to Radio 5 live this morning and the phone in was comparing the public sector and private sector.
One of the points made was that if the public sector was run like a private business then we would have an efficient and healthier economy.

That debate is beyond this blog.

However I did have our local authority phone me last week asking for our search business and promising a great delivery time which would be delivered electronically.

Hats off to them for making approaches to local businesses and trying to win work.

However back in 2007 we moved to a web ordering platform where we could order all our searches (as oppose to just a local search) at a more cost effective price

Translated: the private sector had already come up with a better solution 5 years ago. Furthermore the private sector offered us a national solution which the public sector has not been able to.

thanks

Matt

For a conveyancing quote please click here

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Commercial    No Comments

When you are selling a business the buyer will often request that the sale contract includes a restrictive covenant against the seller that restricts the actions of the seller. The Buyer will be paying a value for the goodwill of the business and will want to ensure that this is not affected by the Seller opening a competing business in the local area or approaching the staff of the business or the current customers of the business.

The common types of restrictions include:-

1. not to compete – this prevents the seller from setting up or being involved with a competing business these are usually enforceable;

2. Not to poach customers – these usually refer to customers of the business over a period of time prior to the sale but in a small business sale it is not unheard of for there to be an outright bar on approaching any previous customers;

3. Not to approach staff – In larger business sales this may be aimed at the managers within the business, but in a small business it could be reasonable to restrict poaching of any of the members of staff;

In respect of time scales the shorter the period the more likely it is that the courts will view the restrictive covenant as reasonable but this needs to be balanced with adequate protection for the buyer. There is no clear guidance on this issue but 2 years appears to be a common time scale applied in contracts.

The other factor to consider if the geographical reach of the restrictive covenant. What is reasonable will depend on the nature of the business, where the business is based etc.

If you are buying or selling a business I strongly advise you to seek independent legal advice. Please feel free to contact me on 01623 448302 or climb@fidler.co.uk as I would be happy to provide you with a competitive quote.

Christie Limb

Partner

 

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