Conveyancing

Selling and Buying

Moving house is one of the most important events of your life and can be hard work particularly when you are trying to sell and buy at the same time. We will make the legal side of the conveyancing process as efficient and hassle-free as possible.

We have excellent connections with local estate agents and our dedicated staff will provide you with the high level of personal service required ensuring the smooth running of your transaction. We will guide you through the process and keep you advised as to its progress.

With the benefit of direct access to the Land Registry we are able to prepare and submit a draft contract (for registered land) without the need to wait for receipt of title deeds.

Please contact our Roger Stone at Chichester or Sarah Evans at Selsey

Re-mortgaging

We can liase with both your existing lender and your new one to ensure that your re-mortgage completes as quickly and efficiently as possible. Any required searches are submitted on-line to speed up the process.

You should note:

• If there is a second loan registered against your property, this will need to be repaid or consent obtained to your new loan
• If the property is leasehold we will need evidence that the ground rent and service charge is paid and confirmation of buildings insurance
• If your existing lender charges interest to the end of the month, it is in your best interests to complete the re-mortgage at the end of the month

Please contact our Roger Stone at Chichester or Sarah Evans at Selsey

Transfer of Property/Co-Ownership

When a property is being purchased by two or more people there are two ways in which it can be owned. The most common form is joint tenants and the alternative is tenants in common.

Joint Tenants means that on the death of one of the owners the property belongs to the survivors irrespective of the contents of any will. Therefore if that are two owners, when one dies the survivor will become the sole owner of the whole property automatically.

Tenants in Common means that each owner has a specified share in the property that can be transferred under a will or be sold. This share does not have to be given to the other joint owners but may be dealt with as the person wishes.

If you are not married but purchasing with a partner or friend it may be appropriate to set out in writing the financial and other aspects of the ownership especially if the contribution is not equal. This written document is called a Declaration of Trust and we can assist in drawing up such an agreement.

We can also assist if the property needs to be transferred from one party to another and deal with any lender

Please contact our Roger Stone at Chichester or Sarah Evans at Selsey

Equity Release

This is where you receive a loan as cash either on a monthly basis or a lump sum and continue to live in your home. It is also sometimes called a Lifetime Mortgage, Home Reversion or Home Income Plan.

The company that lends the money will recover it either by selling your property after your death or if you sell your property.

To be eligible for most schemes you should be aged over 55.

You should discuss the scheme with your family as it is normally a condition of most schemes that the property is sold on your death and so it will not pass to them following your death. You should also seek Independent financial advice as receiving such a sum of money may affect any state benefits you receive.

If you decide to progress with such a scheme we can explain the documentation to you, liase with the lender and arrange for the funds to be released.

Please contact our Roger Stone at Chichester or Sarah Evans at Selsey

The typical stages involved in a sale

Listed below are the typical stages involved in a sale of a freehold residential property in England or Wales.

Take instructions from client

• Initial correspondence with all parties
• Ascertain title to Property via Direct Access with Land Registry
• Locate and obtain title deeds
• Obtain information relating to Property from client
• Obtain redemption figure from Lender (if appropriate)
• Obtain official copies of title deeds from Land Registry or Prepare Epitome of Title Draft Contract and pre-contract package
• Issue draft Contract to Buyer's solicitors
• Up-date and liaise with selling agent and client
• Reply to pre-contract enquiries
• Obtain signature to approved Contract
• Agree suitable completion date

Exchange contracts

• Reply to requisitions on title
• Approve draft
• Transfer Deed
• Obtain client's signature to Transfer Deed
• Obtain redemption figure
• Receive selling agents commission account
• Prepare financial statement

Complete sale

• Redeem Mortgage
• Settle Agents commission
• Report and account to client with net proceeds of sale
• Send title deeds to Buyer's solicitors

To find out more, please contact our Roger Stone at Chichester or Sarah Evans at Selsey

The typical stages involved in a purchase

Listed below are the typical stages involved in the purchase of a freehold residential property in England or Wales.

Take instructions from client

• Initial correspondence with all parties
• Request and consider draft contract
• Submit local authority search
• Submit other essential searches
• Raise pre-contract enquiries
• Receive and consider search results and replies to enquiries
• Amend and approve draft Contract
• Report to client
• Report to Lender
• Obtain client's signature to Contract and, where appropriate, obtain client's signature to Mortgage Deed
• Agree suitable completion date

Exchange contracts

• Report to Lender
• Draft and send requisitions on title
• Prepare draft Transfer
• Engross approved Transfer
• Obtain client's signature to Transfer Deed
• Carry out bankruptcy and land registry searches
• Draft Financial Statement
• Receive mortgage advance
• Receive balance from client
• Transmit purchase monies

Complete purchase

• Receive title deeds
• Stamp transfer
• Arrange registration of title
• Prepare copy deeds for client
• Retain deeds in safe keeping or despatch deeds to Lender for safe keeping.

To find out more, please contact our Roger Stone at Chichester or Sarah Evans at Selsey