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Moving Home Buying and Selling your Property At Warwick & Barker we understand that moving home can be a very stressful experience. During this hectic period, we offer calm and clear legal advice and services which will enable you to concentrate on the many other aspects of moving home. We have years of experience and are well placed to help you as your house move proceeds smoothly. Whether you are buying or selling, we can help you ensure that every legal aspect of your transaction is covered. We also work closely and have good relations with the Estate Agents in the Rustington and Arun area. Working together with them can overcome many of the details which may seem deal-breaking. Re-MortgagingRe-mortgaging is the process of either releasing some of the equity in your home, changing your mortgage for a better rate or consolidating your debts. To re-mortgage, you need to end your current mortgage scheme and move to a new one which may involve switching Lenders. Re-mortgaging involves legal work to secure the interest of your new Lender and usually to discharge any existing securities. It is therefore prudent to have a Solicitor to help you through this process. You should consult an Independent Financial Advisor (IFA) to obtain information to assist you in finding the best mortgage package to suit your needs and we can recommend an IFA if you need help. Transfer of EquityA Transfer of Equity occurs when one or more joint owners of land or property wish to transfer any interest that they may have in the land or property to another co-owner of that property. There are a number of reasons for arranging the Transfer of Equity however the most common occurs on the dissolution of a marriage or when co-habitees decide to live separate and apart. In either case it is advisable to instruct a Solicitor. A Transfer of Equity can also take place between husband and wife or partners in a registered civil partnership as a Capital Gains Tax planning device. This is becoming more common as people own second properties, which have been purchased for investment and rental purposes. Equity Release and Home Reversion SchemesThere are many companies offering a range of Mortgage and Equity Release or Home Reversion Schemes. You may wish to check if the company you intend dealing with is an approved member of “SHIP” (Safe Home Income Plans). You should only buy from a SHIP member, all of whom offer a “No Negative Equity Guarantee” which means if the property is valued below the amount of the outstanding loan, the company will pick up the loss. At Warwick & Barker we will check these details for you and will also check that this means that you can continue to live in the property. Home Information PacksHome Information Packs have now been compulsory on all properties since the 14th December 2007. At Warwick & Barker, we have joined a number of different organisations in order to provide Home Information Packs and indeed in many cases can provide them ourselves cheaply and efficiently. A Home Information Pack needs to be provided before a property is placed on the market and in this respect please contact us at Warwick & Barker as we will be able to advise you fully and clearly through this new process. Wills and Probate
Why do you need a Will? A Will is a set of clear and concise instructions left to your Executors to distribute your belongings and property in accordance with your wishes. If you do not make a Will, the State directs who inherits your assets under the Rules of Intestacy. There are many aspects to consider when putting a Will together such as who to appoint as Executors, should there be separate Trustees to administer any Trust for children, do you need to appoint Guardians for any infant children, and who you wish to leave your Estate to. We will be able to provide you with a quote for preparing your Will before commencing the service. We will also store your Will free of charge in our office safes and send you a copy of your Will for your records. Reviewing and changing your existing WillYou should make a point of reviewing your Will every few years or so. You may have additional children or grandchildren you want to add to your Will or your circumstances may of course change. Probate and Administration of EstatesThe term Probate refers to the process of administering a deceased person’s Estate, where a person dies a Personal Representative usually the Executor named in the Will has to deal with the Estate (money, property and possessions left by the deceased) by collecting in all the money, paying any debts and distributing the Estate to those entitled to it. The Personal Representative dealing with the Estate will often have been appointed by the Deceased as an Executor in the Will. Powers of AttorneyA Power of Attorney is a legal document which authorises another person (or persons) to act on behalf of an individual with regard to his or her property and financial affairs. The most common types of Power of Attorney are:- Ordinary Power of AttorneyA Power of Attorney can cover a specific event. For example you may wish to authorise another person to sign a Contract to sell your house. Alternatively, you may be moving abroad for a period of time and as such require an Attorney to look after your financial and legal affairs in this country whilst you are away. This is known as a General Power of Attorney. Lasting Powers of AttorneyThere are two types of Lasting Powers of Attorney which became law on the 1st October 2007. The Lasting Power of Attorney has replaced the Enduring Power of Attorney and it is mainly intended to come into effect where someone has or is losing their mental capacity. We advise that everyone, especially those approaching old age, should consider making a Lasting Power of Attorney. Please do not hesitate to contact us for further information. |
A Will is probably one of the most important legal documents that you will have to prepare. With changing circumstances throughout your life, the Will acts to ensure that your last wishes are carried out and are such guaranteed piece of mind. 