You’re safe in our hands
At Arnold Thomson, we have a dedicated team of Property Lawyers who are passionate about our clients’ interests and are vastly experienced in every aspect of residential conveyancing. Our particular areas of expertise range from sale to purchase, re-mortgage, transfer of equity to leasehold properties. We are here to skilfully guide you through the entire process. With years of professional and personal experience we know only too well that property transactions can sometimes be very stressful and complex. We will provide tailor-made legal support, expert advice and an efficient service to achieve the best possible result for you.
We are proud to be accredited members of the Law Society’s Conveyancing Quality Scheme.
Help to Buy Schemes were introduced by the Government to assist those wishing to get on the property ladder. There are different routes through which aspiring property owners can benefit from the schemes, including Help to Buy: ISA, Equity Loan and Shared Ownership.
The legal formalities fall in two parts: exchange of Contracts and Completion. Exchange of Contracts is the point at which everyone in a chain is committed to the sale/purchase of their various properties. Completion is the date on which legal ownership is transferred and you obtain or hand over the keys. Although it is not unheard of, it is not wise to exchange contracts and complete on the same day, particularly where there is a chain of transactions, since at any point up to exchange, anyone in the chain can back out. For your protection, we recommend a minimum period of 14 days between exchange and completion but, of course, each transaction is dealt with on its own merits. A Seller will be asked to complete a number of forms relating to the property to be sold, which are an essential part of the contract pack. The Seller should also supply any certificates for work carried out to the property (e.g. electrical certificates or commissioning certificates for the installation of a new boiler), guarantees and planning and building regulation consents.
For leasehold property, details of service charge/ground rent are required, who collects these and buildings insurance details. It can take several weeks to collate this information, and is the most common cause of delay.
Where a tenanted rental property is sold, a copy of the tenancy agreement and any notices served on the tenant are required. If the Tenant is to remain, this must be disclosed early, since it will affect the way in which the Contract for sale is prepared.