
If you’re buying or selling a property, you’ll need a conveyancer to deal with the legal process. However, this is not the only kind of case a conveyancer deals with.
This article from Consultant CILEX Lawyer, Claire Gummow, explores some of the lesser-known elements of conveyancing and what a conveyancing solicitor can assist with even if you’re not buying or selling a property.
What is Conveyancing?
Conveyancing is the legal process involved when the ownership of a property is transferred. In fact, when thinking of solicitors and conveyancing in general, many people only consider them in relation to buying or selling a house. However, conveyancing also covers several other aspects, including but not limited to:
- Remortgages
- Discharge of Help to Buy Charges
- Transfers of Equity
- Adverse Possession of land.
- Title Investigations.
- Deed of Easement
What is a remortgage?
A remortgage is when you take out a new mortgage on a home you already own. This could be to replace your existing mortgage (when it comes to the end of the fixed term, for example), or to raise a mortgage on a property that currently has none.
If you are remortgaging, in many cases you will need the assistance of a conveyancer. Some mortgage lenders have their own in-house legal teams, but there are some circumstances where these teams won’t act on your transaction, or you may choose to use your own. For example, if you are looking to remove or add someone to the title at the same time as the remortgage, known as a Transfer of Equity.
Conveyancing solicitors are typically signed up to panels for each mortgage lender. Your conveyancer will be able to advise you which panels they are on when you get your quote. At Setfords, we have access to all major lender panels. Please get in touch for a quote.
What is a Redemption or Discharge of a Help to Buy Charge?
The government previously offered a Help to Buy scheme, where they paid a percentage of the purchase price of some newly built properties to the developer to help first-time buyers get on the property ladder. None of this percentage had to be paid back in the first five years, and the sum of money was protected against the property by entering into a legal charge with the Government. Once the initial period has expired, monthly payments become due on the amount that was provided. At this stage, homeowners may choose to either provide the funds as a lump sum out of their own savings, or look to remortgage to raise the additional funds needed to redeem the legal charge held by the Government and avoid the monthly payments.
This is what’s known as a redemption or discharge of a Help to Buy charge. If you choose to pay the charge in this way, the scheme will ask you to appoint a conveyancing solicitor to act on your behalf.
What is a Transfer of Equity?
A Transfer of Equity is the legal process involved when you remove or add someone to the Title of a property. Getting married or divorced, separating or moving in with a new partner, gifting your share of a property to someone else, or adding or removing a borrower to a mortgage are all examples of when you may need a Transfer of Equity. A conveyancing solicitor can assist you with this legal process.
What is Adverse Possession of Land?
Adverse Possession of Land is a process where you apply for ownership of land you have been using for a set period of time. This time period depends on whether the land is registered or unregistered at the Land Registry.
Have you ever found yourself in a position where you are using an area of land that is not yours, and there is no known legal owner? If this is the case, a conveyancer can assist you in reviewing the situation and advising on the merits of an application for adverse possession. They can also help with preparing an application to the Land Registry to try to claim ownership of the land.
What is a Title Investigation?
Have you got a query about the title to your property? An example of this could be inheriting a property and wanting to know if there is anything in the title deeds that may restrict your enjoyment of the property, like a covenant that prevents business use or changes to the property’s appearance.
A conveyancer can assist you with this by arranging to review the title to the property and any associated documents and advise you on the findings.
What is a Deed of Easement?
A Deed of Easement is the legal document prepared for a landowner to grant others a legal right to use something crossing their land, such as services or a right of way for access.
Some examples of this include:
- Using a water pipe that crosses someone’s land before it connects to the mains supply, which, following a title investigation, is revealed there are no rights in your title to do this.
- Accessing your property over someone else’s land from the nearest main road, then becoming aware that there is no legal right in the title to do so.
If so, a conveyancing solicitor can advise you on the potential requirement for a Deed of Easement. It’s a good idea to speak to a solicitor before you approach the person who owns the land. This is because there may be other factors and advice to consider before an approach is made, and any discussion prior to obtaining advice could hinder this.
There are many ways in which a conveyancer can assist you beyond buying and selling a property. The examples in this article are just a few of them. If you have any queries, please get in touch. Even if your query can’t be covered by a conveyancer, we have many experts in different areas of law at Setfords, and will be able to put you in touch with the right specialist to discuss your matter further.