Property
Law Society's Home Charter Scheme
06/07/2011
The Law Society's Home Charter Scheme is designed to give assured standards of quality. This leaflet explains the basis on which your work will be carried out and what you should do, if at any time, you have any questions or difficulties.
THE SALE / PURCHASE
The work involved in selling or buying property has many aspects but the main areas which your solicitor will be dealing with on your behalf are as follows:
Supplying information for your buyer/obtaining information from your seller.
Checking that the sellers are in position to sell the property to you/making arrangements to...
Stamp Duty and Properties Bought in a Disadvantaged Area
30/08/2011
If a property is in an area in Northern Ireland designated by the government as "disadvantaged", a higher stamp duty threshold of £150,000.00 still applies for residential properties. O'Reilly Stewart, Solicitors Belfast, will be able to advise you within minutes whether your new property qualifies.
For further information and advice please contact Lynn Clarke or a member of our experienced Property Team now on +44(0)28 9032 1000
Northern Ireland Co-Ownership Housing Association Limited
30/08/2011
Co-Ownership is a government-funded low cost home ownership scheme for Northern Ireland that works through 'equity sharing' and therefore gives people who could not afford it otherwise the chance to own a home of their own.
O'Reilly Stewart Solicitors has over twenty years experience in handling Co-Ownership Transactions in Northern Ireland. We can act on your behalf should you be considering purchasing through Co-ownership. We can also act for you should you be buying an additional share of your home from Co-Ownership or should you be selling your...
More Receivers being appointed by Lenders on rented properties in Northern Ireland
12/05/2011
As the credit crunch continues, many borrowers who purchased buy-to-let property in the boom seem to be facing difficulties in maintaining their mortgage repayments, despite the property being rented and producing income. It appears in some instances that these borrowers are using the rental income they receive for their own living expenses, instead of paying it on their mortgage lender.
In many of these cases, the banks are now exercising their rights under the Conveyancing and Law of Property Act 1881 in conjunction with their mortgage conditions, and are appointing Receivers for...
Stamp Duty Explained
11/05/2011
Stamp Duty Land Tax (SDLT) may be payable when property or land is bought or transferred in Northern Ireland, whether or not the transaction involves payment of money and/or non-monetary consideration. The total value on which SDLT is payable is known as the ‘chargeable consideration’.
In a straightforward deal such as the cash purchase of a house, the chargeable consideration is simply the price paid for the property. Deciding what counts as the chargeable consideration can be more complicated for other transactions. SDLT does not usually apply if the property is given and...
