Veitch Penny LLP - Exeter | Crediton, Devon

Buying a new home is probably the greatest financial commitment which most of us will make and you will need professional advice to guide you through the transaction, resolve any conveyancing issues, and ensure that it all runs smoothly.  Our aim is to make your move as quick and efficient as possible whilst offering a service which is good value for money.

The process of selling a property can appear a complicated process but with years of experience of helping both buyers and sellers we can do much to make the process more straightforward.

Recently the process has been changed completely by the introduction of compulsory ‘Home Information Packs’.

For many people their home is their biggest single investment and it can be an attractive idea to release some of the capital tied up in your home.  Often this can be to top us retirement income, carry out home improvements.  There are many schemes on the market and it is important that you get good legal advice at an early stage to help you choose between the various options available and to make sure you know exactly what you are committed to under these arrangements.

Often equity release schemes are marketed by insurance companies and others but these salesman are not looking after your interests.  At Veitch Penny we always put our clients first and help them to do decide what is best for them.

Re-mortgaging is now very common for a variety of reasons.  With interest rates at an all time low this may be a particularly good time to switch your mortgage or choose one of the fixed interest rate schemes that are currently available.  Before re-mortgaging there a number of key points you should consider:

With property prices quite low at the moment many people feel that buying a property for investment purposes will provide a regular income and the possibility of seeing their investment grow in value as well.  This can seem attractive compared with many other investments at the moment.

Selling?

All properties for sale in England and Wales now require a Home Information Pack (HIP) before your estate agent is allowed to market your property.  It is a legal requirement to have a HIP and you can't market your property without one.

The HIP lets buyers and their solicitors see important information about the property at the start of the process.  The HIP can save time and money by providing a copy of the title and two of the searches immediately.

The HIP must contain the following documents:-

• Home Information Pack Index
• the new Property Information Questionnaire (PIQ), from 6 April 2009
• Energy Performance Certificate (EPC) or Predicted Energy Assessment (PEA)
• sustainability information (required for newly built homes)
• sale statement
• evidence of title
• standard searches (local authority and drainage and water)
• a copy the Lease (for leasehold properties)

We can offer a quick and reliable service at a competitive rate using a local HIP provider.

Buying?

If you are buying a property that has the benefit of a HIP and we will receive a copy of it, it may not be necessary to obtain Drainage and Local Searches as these will be contained within the HIP. However, depending on the age of the Searches and your lender's (if any) criteria, we may be obliged to repeat the searches

It is important when buying your first home or moving to a new one that you review your Will (if you already have one) or make a new one if you have done this before.  As part of the decision to buy your new home you will probably have done a great deal of financial planning and may well have taken on new commitments such as a mortgage.

We can help you make a Will to take into account your changed circumstances.

Here at Veitch Penny we aim to make this process as straightforward as possible and we can usually arrange to get the Will signed at the same time as you sign the transfer papers on the completion of your new home.

English law recognises two ways in which two or more people can own and hold property jointly.  These are known as "joint tenancy" or "tenancy in common".  There are important differences between these two concepts, and all joint owners must decide which of the two alternatives is appropriate to them.

Shared ownership schemes allow you to purchase a share in the property, typically 25% - 50% of the market value in the property, whilst paying rent to the housing association on the remaining share.

There are a several mortgage lenders who specialise in shared ownership mortgages.