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What is Stamp Duty Land Tax? Stamp Duty Land Tax (SDLT) is tax levied by HMRC on certain house and land transactions in England and Northern Ireland. Scotland and Wales have a different land tax system. SDLT, becomes payable on transactions when the...
A licence to occupy is an agreement that documents a prospect landlord’s (licensor) consent for a prospective tenant (licensee) to occupy a commercial property on a temporary basis. Here we discuss in what circumstances a licence to occupy might...
When buying or selling a property, you may be advised that the property is subject to certain covenants that could affect how you can use or enjoy the property. Restrictive covenants are promises made by a purchaser, and all subsequent purchasers by default,...
When couples divorce, they need to decide what happens to their finances. A financial remedy order is one option for resolving this question and protecting both parties from any future proceedings. In this digital world, it is easier than ever to get a...
A tenant’s liability to repair the property during the term of a commercial lease is substantial. Notably, the liability does not simply come to an end when the contractual term of the lease is up either. The extent of the repair...
A Declaration of Trust is a document, made usually at the time of purchasing a property that is designed to protect each person’s financial contribution towards the property. The document will describe the different shares held in the property and what...
More and more people are recognising the importance of putting in place a Lasting Power of Attorney. Here we discuss the potential effects of only appointing one Attorney and how this can prevent the Attorneys from dealing with your property. What is...
When purchasing a property, you will often hear that searches have been submitted and we await the results. Residential searches consist of replies to enquiries from public authorities and are valid for 6 months. Searches are compulsory if you are taking a...
You may be wondering what you can expect after you have accepted an offer on your property, or received an accepted offer for a new property. We have broken down the conveyancing procedure here. Memorandum of Sale : This is a document the Estate Agents...
Are you a First Time buyer looking to get on the property ladder? Our team can help you throughout the process of buying your home and answer all the questions you may have – we promise we have probably heard the questions before! We can offer a no...
When making a Will one of the first things that needs to be considered is who you would like to appoint as your Executors. Whoever you appoint will be responsible for administering your estate and dealing with your affairs in accordance with the wishes...
Freehold and leasehold are terms that are used so commonly by conveyancers and it can often be taken for granted that you, as a prospective buyer or seller, will understand what they mean. The essential difference between freehold and leasehold is that when...
Sometimes it may be beneficial to put a property into an auction, or you may find yourself wanting to bid on a property that has been entered for sale at auction. Properties can be put up for auction for a number of reasons; such as a quick sale, needing...
On 1st September, we were pleased to be invited to take part when Norfolk Courts held an Open Day for members of the public to gain a greater insight in how the Criminal Justice System works. There were stalls manned by the Magistrates, Probation,...
The value of a leasehold flat can be reduced significantly if the term of years remaining on the Lease is considered too short, with many Lenders reluctant to provide mortgages for flats with a shorter term. This can in turn affect the ability to mortgage...
For most people, their property is the largest asset they own, so protecting it from being sold or mortgaged fraudulently is extremely important. There are a number of factors which could mean a property is more at risk or more attractive to criminals...
A team from MCP recently threw on their running trainers and took part in the GEAR 10k, a course renowned for attracting a large number of runners because of the flat course and perfect opportunities for personal best times! The course runs through the heart...
The Government have recently announced the proposal that any Commercial property starting a new tenancy will require an EPC rating of B or above. The idea is that this will be implemented in two stages lasting until 1st April 2030 to try and achieve net zero...
Commercial Rent Deposit Deeds – What Are They And Why Are They Important? When business owners think about moving the location of their business, often the terms of the Lease are the first thing that is discussed, understandably so. As well as...
Stamp Duty is something that we all must consider when buying a property, it is commonly discussed when budgeting, and can have a significant impact on whether or not you are able to proceed to making that eagerly anticipated offer to buy. Unlike first time...
Following the Grenfell fire disaster in 2017, there has been particular focus on the safety of high-rise buildings and the potential fire risk of any external wall systems (‘EWS’). Concerns were raised about the extent of any remedial...
The Government runs a number of schemes to assist individuals in buying properties, two of these schemes, “Right to Buy” and “Right to Acquire”, are aimed at those who are in accommodation provided by their local council or authority....
For many homeowners, equity release can be a useful way of realising some the value held within your property in return for a cash lump sum. You may require some additional funds to to-up a pension or savings for retirement, fund renovation works to the...
When buying or selling your home there are several steps to the process that need to happen before legal completion can take place. One of these steps is for the seller to provide an Energy Performance Certificate (EPC) to a potential buyer or to a potential...
The hard work, dedication and expertise of our Crime Department has once again been recognised nationally in the latest edition of the Legal 500. This is the world’s leading legal directory which assesses law firms in over 150 Jurisdictions. For many...
