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Showing posts from March, 2012

Solar panels could make your property difficult to sell

Solar panels may be associated with green issues but beware as they might be viewed as a red card when it comes to re-mortgaging your house or when looking to purchase a property with a mortgage where solar panels are fitted .  This is according to an article recently appearing in the Guardian.
Guardian Money reported on a Southampton couple who were refused by several companies when they tried to re-mortgage their home. The couple had previously agreed, with their lenders permission, to allow a firm to install solar panels on their roof for the duration of a 25-year lease.  They now face the prospect that their property has become ‘unsalable’.

The owners are reported to have said:

"We signed up to this scheme on the basis that we were doing the green thing, but it has turned out to be a nightmare," says John, who works as an air traffic controller.

The implications for us are that we cannot re-mortgage our house on a lower interest rate. We would still have a mortgage but one o…

Prediction of 19% rise in housing transactions in 2013

Much of today’s focus has been on Budget headlines and little comment has been made of the detail supplied by the Office for Budget Responsibility (OBR), particularly about its view of what is likely to happen to  the property market over the next 36 months. According to the OBR the future looks bright and forecasts a dramatic increase in stamp duty receipts by 2016, when it expects the Treasury to receive £11.1 billion a year, nearly double the current level of around £6 billion.  This suggests the OBR is expecting housing market to spring back to life in 2013, with a 19% rise in transaction levels and a further 14% increase in the number of sales in 2014. This is based on the OBR’s expectation of an easing in credit conditions in 2013 The downside is the OBR has downgraded its housing price forecast expecting prices to rise by only 0.5% next year. This is in line with independent forecasts published this year.   Looking ahead the picture is even better as prices are predicted to pick up …

Conveyancing firm marks successful year with launch of new website

Entering the market in late 2010 was not the easiest.  The property market was in free fall and the recession was still biting.  Every indicator was pointing to contraction and on the face of it this was not the time to look at expansion.

Not deterred however the partners in  decided this was the best time to invest in people and information technology and look to build for the future. 
Partner, David Pett, explains:
“At the time of receiving my brief to reorganize and develop our conveyancing department we were operating with one conveyancer and two support staff.  We were fixing fees in line with expectations that predated the rise in competition caused by the introduction of the Legal Services Act.  

The philosophy was to ensure we could provide a service to our litigation clients who were looking for a conveyancing service.  To be honest we had not idea whether we were making any money and as for case management this simply did not exist.
The first step was to i…