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About raj_a

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  1. Recently had a declaration of trust set up - as far as I'm aware it shouldn't effect your ability to borrow and you should still be able to have a joint mortgage. I'd suggest seeking legal advice though as a solicitor will certainly clarify the position prior to setting up the D of T.
  2. In such circumstances a cohabitation agreement is strongly advisable. They are specifically designed to protect unmarried and cohabiting couples in the event that the relationship does not work out. Contrary to popular belief, unmarried couples are not protected by the idea of "common law marriage" - this is a very common misconception! The beauty of cohabitation agreements is that they can be speifically tailored to meet your requirements and can include provisions relating to assets and finances. In fact, people enter into cohabitation agreements for all manner of reasons as these agreement
  3. Would strongly strongly recommend against using a template or going down the DIY route for a deed or declaration of trust - there are a whole host of things that can go horribly go wrong. These are intended to be legally binding documents and need to be watertight in the face of scrutiny. Going down the route of instructing a Solicitor is a sensible option - I must admit £400 does seem a tad expensive but given the financial implications should something go wrong in the future it is a drop in the ocean! Take a look at this piece on Declarations of Trusts - it gives you an idea on costs and t
  4. Hi Camilla, I used Elite Law Solicitors for transfer of equity and had no issues. Dealt with all my questions and the transfer quickly and efficiently.
  5. Hi Petwag, Definitely worth getting in touch with a mortgage broker to determine what you are able to borrow - this will provide you with much needed clarity regarding your affordability parameters. As a first time buyer a useful guide here on the steps to buying a house which may also be of help to you! Good luck!
  6. Just answered a similar question on another forum! A lot of people take a DIY approach to transfer of equity - I personally take a belt and braces approach and instruct a Solicitor but it is certainly something that can be done yourself if you have an understanding of the process and potential pitfalls. Most Solicitors should take an economies of scale approach and reduce their fees for the individual instruction - particularly if the volume exceeds 10. I've always instructed these guys and they've always been reasonable with their fees. Whichever route you opt to take I hope it works out for
  7. SDLT is always a sticky topic when considering transferring equity. HMRC guidelines state that “you may need to pay SDLT when all or part of an interest in land or property is transferred to you and you give anything of monetary value in exchange.” The key point here is “anything of monetary value”. This includes not just cash but also the value of any mortgage taken on as part of a transfer. A good read here on the ins and outs of the transfer of equity process.
  8. Hi Jake, I've found through my experiences that conveyancing is one of those areas where you don't necessarily need a local solicitor - their efficiency and reliability is far more important. I agree with the above that you should speak with people you know who have purchased properties in the past and go based on recommendation. For what its worth, I would recommend Elite Law Solicitors - this is a link to one of their recent blog posts: https://www.elitelawsolicitors.co.uk/assignment-of-a-lease/ Hope that helps and you find the right solicitor for you!
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