This is for many people the most stressful thing they will ever undertake. Glover & King can help take the stress out of the house move for you. We are members of the Law Society’s Home Charter Scheme which regulates conveyancing standards for practitioners and helps assure that the most exacting standards are applied to all transactions thereby greatly reducing the occurrence of problems, or bringing same to light early enough to avoid entering into a potentially disastrous transaction. Please let your estate agent know that you wish us to act on your behalf and thereafter we can get started on the process for you.
This scheme is aimed specifically at first time buyers and can, by means of partly mortgaging and partly renting, bring many houses withing the financial reach of such buyers, which would otherwise not be possible. Glover & King have been dealing with Co Ownership transactions for many years, back to a time when only limited numbers of legal firms were allowed to do so. Gavan Holmes can offer you the benefit of over 20 years experience in dealing with all aspects of housing transactions.
Re-mortgages are becoming increasingly popular with clients as they seek to benefit from competitive mortgage deals. Some lenders even contribute to legal expenses. We can process your re-mortgage on your behalf.
Life Time or Equity Release Mortgages are also available to clients for whom a traditional mortgage may not be available due to advancing years. These products can help free up the equity in your home and can be used to fund a variety of retirement projects.
It is often said that people are “asset rich and cash poor” meaning that the majority of their net worth is tied up in their house.
Once the traditional mortgage is no longer an option, in most cases because of age or retirement, then an equity release mortgage can present a possible way of raising funds.
Essentially, this is a mortgage which only becomes repayable once you or your spouse die or sell your house. Interest accrues during that period, and for that reason equity release is frequently capped at a figure in the region of 25% to 50% of the value of the property. Many people are glad to use this as a means of generating extra funds to help with retirement for example.
Gavan Holmes is widely recognised as one of Northern Ireland’s foremost authorities on the subject of equity release and would be glad to assist with any queries you would have about the legal process.
If you are new to the buy to let market, contact Gavan Holmes who will guide you during the purchase and also regarding the obligations facing landlords now in relation to the Landlord Registration and Tenancy Deposit schemes recently introduced by government. As an investment property is also a means of generating income as well as potential capital growth, there can obviously be tax implications and we would recommend that you also consult an accountant or tax advisor for information on these issues.