Splitting up with partner? Who must pay the mortgage?
Splitting up with partner? Who must pay the mortgage? This is question which often arises when a couple breaks up. It is a difficult situation to be in and even more so you're unmarried and don’t have a legal agreement protecting your share of the property. Whatever happens you must continue...
24/02/2017
Tenants in Common Death
When you share buying a property as tenants in common, death of a co-tenant causes their interest in the property passes to whoever they've named as the beneficiary in their will. But what happens when a co-tenant dies intestate, i.e. without any identifiable will being available which states...
24/02/2017
Thatched Roof Building Survey
A thatched roof building survey, carried out by a qualified RICS surveyor, is highly recommended if you are buying a property with a thatched roof, for your peace of mind. Scott Oke MRICS is one of our Specialist Thatched Roof RICS Surveyors, you can read his details by clicking on the link....
24/02/2017
Key Worker Housing Scheme
A key worker housing scheme is a highly important way in which workers in certain eligible organisations can access their local housing market for a reduced outlay. Housing schemes for key workers centre on various Government housing initiatives and are normally run by housing associations. Key...
23/02/2017
What happens when you get repossessed? The 7 stages
What happens when you get repossessed? Getting repossessed is a difficult situation to be in especially as repossession proceedings are very formal and you could lose your home.It can feel even worse if you are a joint owner of a property and one of the joint owners can no longer can pay their...
23/02/2017
Beneficial Ownership vs Legal Ownership
When jointly owning a property you'll need to declare your ownership shares of the legal title, however did you know that your share of the legal ownership can differ from the beneficial split when buying as tenants in common? You'll need to know the difference between you beneficial ownership vs...
22/02/2017
Buy to Let advice - The things you must know
Whether you are a Buy to Let veteran or an entrant to the market, this article covers some of the key areas you must know Independent Inventory Clerk General Repairs Know Your Tenant Section 21 Eviction Notice changes Carbon Monoxide (CO) and Smoke Alarms  Deposit...
22/02/2017
Help to Buy Equity Loan
The Government’s Help to Buy Equity Loan scheme is targeted mainly at helping first time buyers get onto the property The scheme does this by granting you a loan which allows you to purchase your home with a minimum 5% deposit, compared to the normal 10%. Insufficient deposit funds has...
22/02/2017
Right to Buy your Council House
Wh Right to Buy your council house: this scheme allows council tenants to purchase the homes they live in at a discount. Using it, around 3.9 million people with council tenancies in the UK could potentially buy their properties at a considerably lower price than they'd have to pay on the open...
22/02/2017
Splitting up with partner? Are you due money from the property?
Splitting up with your partner is a difficult situation which can be worsened if there is a dispute about whether you are due money from the property you've lived in together. If like many joint owners you didn't put anything in writing and based your joint ownership arrangement on trust then you...
22/02/2017
What is Shared Ownership Protection?
Shared Ownership Protection is the leading co-ownership agreement on the market. You and anybody else who jointly owns your property with you create a document which is legally binding and notarised by a solicitor, and it sets down how you will own your property, from calculations of individual...
22/02/2017
5 reasons you MUST get a home buyers survey for your flat!
On average, homebuyers spend £5,750 on repairs once moved into their new home according to research by The Royal Institution of Chartered Surveyors (RICS). Sadly, in many of these cases these costs could be negated by simply getting a surveyor to inspect their property before they exchanged...
21/02/2017
Help to Buy Application Process
Help to Buy Schemes are run by the Government with the intention to help First Time Buyers get their foot on the property ladder with a lower deposit with an additional Government funded equity loan and Help to Buy mortgage to make up the balance of the purchase price. This is a guide on how to...
21/02/2017
Help to Buy Mortgage
You'll need a Help to Buy mortgage to fund the balance of the purchase price when buying using the Government's Help to Buy Equity Loan scheme. This scheme allows for a lower deposit of 5% from you which is then added onto a Government Loan of up to 20% and then the balance of the 75% is funded by...
21/02/2017
Buying a house
The Home Buying Process Get a If you are a first time buyer, the chances are you'll need a mortgage to buy a home. If you do, you'll need to make sure your credit score is in order and crunch the numbers to see what sort of mortgage you can afford. Then we recommend that you...
20/02/2017
Staircasing Process
Staircasing is when you buy more shares in your shared ownership property, something you can normally do after 1 year. The advantages are that you own more equity and your rent gets smaller but note that your buildings insurance, ground rent and service charge are You can normally buy...
20/02/2017
What happens if a joint owner becomes bankrupt?
Joint ownership of property can be disastrous if any of the joint owners are made bankrupt. Without a formal written agreement in place, the Trustees in Bankruptcy, appointed to manage the bankrupt person's affairs, will assume the property is shared 50:50 (or equally between all parties), when the...
20/02/2017
What is a Mortgage Valuation?
What is a Mortgage Valuation? It's NOT a Structural Survey  A mortgage valuation is something everyone who gets a mortgage will have to pay for. Most people think that it is a full structural survey because it costs so much, however a mortgage valuation Survey is not a structural survey. ...
20/02/2017
What is Shared Ownership?
Shared ownership schemes are aimed at enabling people with lower income earners to purchase a property with a smaller deposit by sharing the ownership with a housing association. This article explains everything you need to know about buying a shred ownership property including: How does...
20/02/2017
List of Housing Associations in London
We have compiled a list of the housing associations in London to help you in your hunt for a shared ownership property in London. If a housing association you are using doesn't appear on this list then please drop us an email to help@samconveyancing.co.uk - thank you for keeping this list current!...
17/02/2017
Stamp Duty Land Tax for Shared Ownership
The stamp duty land tax (SDLT) for shared ownership differs compared to standard purchases and staircasing (read more about stamp duty for staircasing here) as you have 2 different options for paying.  If you need help then please call us during office hours on 0333 344 3234 (local call...
17/02/2017
Conveyancing Glossary
Our Conveyancing Glossary is for all but primarily for those who either haven't bought a property before or haven't done so for a Call us on 0333 344 3234 if you need further help on any aspect of conveyancing or click for a Conveyancing Quote Bankruptcy Search - A Bankruptcy...
16/02/2017
Basic Deed of Trust
Our Basic Deed of Trust is a declaration of the basic individual interests and intentions of joint owners of a property. It focuses mostly on the shares each of the individual joint owners have in the property. It contains standard terms and is limited in detail - read our Frequently Asked...
15/02/2017
Homebuyers Report or Building Survey
Choosing a Homebuyers Report or Building Survey can often cause confusion for home buyers; especially when choosing the wrong survey could mean you don't get the right level of detail to make sure there aren't any defects with your new home. The Royal Institution for Chartered Surveyors (RICS)...
15/02/2017