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Archive for the ‘Moving Home’ Category

By their Deeds shall ye know them

The Land Registry’s reliance on paperless deeds gives ID theft opportunities.

When the Land Registration Act 2002 abolished paper deeds, professionals voiced concerns about how easy it would be for fraudsters to impersonate landowners to bring about sales or mortgages of property. With anyone able to check ownership, and mortgage status of registered property at the click of a mouse, a lot of information is publicly available which can help villains transfer ownership of properties fraudulently.

Did you know? – Registration Fraud

Fraud fact: Just over £5 million was paid out by Land Registry in 2008/9 for 62 fraud and forgery claims, out of more than 4 million applications to change the register

Anyone who owns a property they do not live in, such as buy-to let landlords, or those living abroad may be at increased risk of registration fraud.

Did you know? – Drainage searches

Why conveyancers obtain drainage and water searches ?

These contain information as to:

whether foul water and surface drainage from the property drain to a pubic sewer,
the location of public sewers within boundaries of the property or its vicinity,
whether the sewers or proposed sewers are adopted,
the location of public water mains and whether the property is connected,
the basis of charging for the sewerage and water supply to the property

Lawyers are people too …….

In my  Conveyancing team I  have :

  • One attendee of  Westlife concert
  • A keen gardener
  • 2 netball players
  • A new mum to be
  • An advanced driver
  • A qualified driving instructor (not the same as the above)
  • A lay preacher
  • An equestrian
  • A scuba diver (same person as the above)
  • An arm chair sports fan (it’s a serious business…)
  • A new Mum for the 2nd time
  • A golfer, or two
  • A keen cyclist
  • An occasional runner, or two

 Susan Ellis - Head of Conveyancing team

Did you know? – Voluntary First Registration

- that 30% of Land in England and Wales is unregistered *

- that even if your title is currently unregistered you can apply to the land Registry for this to be registered.

Did you know? Land registration

All land and property ownership in England and Wales is subject to a system of registration at the Land Registry. Land registration confers benefits and safeguards to property owners. In particular the registered title is guaranteed so that if an owners suffers loss as a result of an error in the title, compensation should be payable.

Did you know? – that ‘deeds’ are a thing of the past

Or certainly this is the case for property which has a registered title, which applies to some 70% of property in England and Wales.

Since the Land Registration Act 2002, came into force on 13 October 2003, no physical deed is now issued by the Land Registry when property changes hands or any other change is made to it. Instead the title is held by the Land Registry electronically. It is open to the public and anyone can view this.

Did you know? – Conveyancing terminology

There is always a need in all walks of life for clarity. At Wards our aim is to advise clearly and in terms our clients can understand, without underestimating their ability to assimilate new terminology.

This however is a brief guide to common conveyancing terms which may assist newcomers:

The facts about the future of Capital Gains Tax…

The Coalition Agreement indicates that Capital Gains Tax will be increased to approximately the same rate as income tax. They have further suggested that there will be “generous reliefs” for entrepreneurial and business assets. So, what does that mean for you?

The truth about HIPs (and EPC’s)

The background

Since 2007, sellers have been required to provide Home Information Packs (HIPs) when selling their residential properties. The contents of HIPs included property information, searches and energy performance certificates (EPCs).

HIPs are history….
The coalition government has suspended Home Information Packs (HIPs) with effect from 21 May 2010. However, energy performance certificates (EPCs) will still be required.

What is an EPC?
This is a certificate which will rate on a scale of A-G:

• How energy-efficient the property is, and
• The impact the property has on the environment.

The most efficient property that has the lowest running costs will come into band A. Recommendations are included in the certificate about ways to improve energy-efficiency, to save costs and environmental impact. Your estate agent is obliged to include these two ratings in the property’s sales particulars.