Conveyancing Solicitors in Bognor Regis

For many of us, buying and selling property will be among the most important, and valuable, transactions we ever make. The potential risks with these types of transactions is well-documented, which highlights the need for proper legal advice from the outset. This is something our conveyancing solicitors in Bognor Regis can provide.

At SMR Solicitors, our Bognor Regis property team can assist you with all manner of conveyancing transactions, from simple purchases and sales, through to Shared Ownership and lease enfranchisement.

We have detailed knowledge of the property market, using this expertise to provide tailored advice that ensures your move is as straightforward as possible, with minimal delays.

Our conveyancing team in Bognor Regis can support you with a wide range of residential property matters, including:

Buying and selling property
Mortgages and remortgages
Lease extensions
Lease enfranchisement
Shared Ownership Schemes
Co-ownership

To discuss your requirements and find out how we can help, please get in touch to speak to one of our conveyancing solicitors in Bognor Regis.

BOGNOR REGIS

Why work with our conveyancing solicitors in Bognor Regis?

Our expertise has been recognised with the Law Society’s Conveyancing Quality Scheme (CQS). This is the badge of excellence for the home buying and selling process. As we are member of the CQS, this will provide assurance that your conveyancing will meet the high standards set by the Law Society and that you will receive a professional service, no matter your requirements.

We believe in offering fees that are suitable for every circumstances. For an estimate of the likely fees for your case, you can use our convenient online conveyancing calculator.

Our conveyancing services in Bognor Regis

Buying and selling property

Buying and selling a residential property is an exciting prospect, but it can also be equally complex. This is especially the case if you find yourself in the middle of a lengthy chain that is at risk of collapsing through no fault of your own.

No matter where you may be positioned on the property ladder, and what transaction you are looking to complete, our experienced conveyancing solicitors in Bognor Regis will be by your side to guide you through the process from start to finish.

Once instructed, our team can advise you on the necessary steps for reaching completion, reducing the potential for any delays and keeping the entire process as straightforward as possible.

Our approach will be as thorough as detailed as necessary, making sure to check all of the relevant documents and essential searches on a property you are buying, and answering any queries you may receive for a property you are selling.

Our advice extends to both freehold and leasehold properties.

Lease extensions

Under the terms of The 1993 Leasehold reform Housing and Urban Development Act, leasehold property owners will have the right to extend their lease, so long as they have owned said property for at least two years.

There are a range of benefits to extending a lease. In many cases, it will be essential to extend the lease where the remaining term is due to fall below 80 years, as renewing a lease with less than 8 years will see you pay the freeholder half of the property’s ‘marriage value’.

Generally speaking, extending a lease will cause a property’s value to increase, making it easier to sell when it is placed on the market.

Whether you are able to voluntarily come to an agreement with the freeholder over the extension of the lease, or you need support with a statutory extension, our conveyancing solicitors in Bognor Regis will be on hand to lend their support.

We will provide a proactive service, making the process of applying for a lease extension as straightforward as possible.

Lease enfranchisement

As per the terms of The 1993 Leasehold Reform Housing and Urban Development Act, flat owners have the right to buy the freehold interest in their flat. This is also referred to as ‘collective enfranchisement’.

There are restrictions which mean that lease enfranchisement is only possible for certain leasehold property owners. For example, the building itself must contain two more flats, have no more than 25% of commercial floor area and have the ability to be redeveloped.

Where the building itself meets the necessary requirements, at least 50% of the building’s owners also need to participate.

Enfranchising will usually result in flats increasing in value, but the process is by no means straightforward.

If you plan to conduct the enfranchisement process, our conveyancing solicitors in Bognor Regis will be on hand to support you.

We can advise you on your eligibility for enfranchisement and then proceed to guide you through the following process where required.

Mortgages and remortgages

There are a number of reasons why you may need to apply for a remortgage or transfer to a different mortgage product. Whether it is simply because your current deal is about to end, or you are looking for a better rate, our Bognor Regis conveyancing solicitors can ensure that you secure the result you are looking for.

It is important to remember that, while remortgaging may seem like an attractive option, it is essential that you take the time to seek out the most suitable deal that protects your initial investment and keeps your monthly repayments affordable.

Where you intend on remortgaging or transferring to a different mortgage product, our conveyancing solicitors in Bognor Regis will be able to lend their support. We can liaise with your existing lender and new one to make sure that the process is completed as quickly and efficiently as possible.

Shared Ownership Schemes

Shared Ownership schemes, which are provided through housing associations, offer an alternative method of home ownership. Buyers who may currently lack the money to buy a home outright can instead buy a share of the home (between 25% and 75% of the home’s value), paying rent on the remaining value.

Over time, the owner of a property purchased through Shared Ownership will be able to buy shares in the home (known as staircasing).

Our team can support with Shared Ownership transactions, as well as providing ongoing support to owners of properties purchased through Shared Ownership. This includes advising on the process of buying more shares, and selling a home under Shared Ownership.

Co-ownership

If a property is purchased by two or more people, there are two ways in which it can be owned. These are joint tenancy and tenancy in common. Both of these options have different legal implications which out conveyancing solicitors on Bognor Regis can advise on.

Joint tenancy is the more common option and is fairly straightforward. On the death of one of the owners, the property will belong to the survivors, irrespective of the contents of any Will. With tenancy in common, each co-owner has a defined share in the property, with interests potentially being unequal. Co-owners can give away or sell their share in the property.

When purchasing a property, we can advise you on your options based on your current circumstances, assisting with matters such as a Declaration of Trust for co-owners. We can also assist if the property needs to be transferred from one party to another and deal with any lenders.