Equity Release

For many people their home is their biggest single investment and it can be an attractive idea to release some of the capital tied up in your home. Often this can be used to top up retirement income or to carry out home improvements.

Seek advice

Equity release schemes are becoming much more common and there are many schemes on the market, but it is important that you get good legal advice at an early stage to help you choose between the various options available, that you understand the risks and benefits and to make sure you know exactly what you are committed to under these arrangements.

Often equity release schemes are marketed by insurance companies and others but these salesmen are not looking after your interests. At Veitch Penny we always put our clients first by giving you specialist legal advice relating to equity release schemes and what they mean for you and your inheritance.

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Stepping onto the property ladder can be a daunting process. We are here to support you throughout the process.You will have a dedicated member of our property team assigned to you.

Remortgaging is the process of repaying your existing mortagage and replacing it with a new one from a different lender, usually to get a better rate mortgage. Everyone is looking for ways to save money and remortgaging could be the answer. There are two main reasons for remortagaging:

To save money

Sometimes better deals are offered to new borrowers than to existing ones

To raise capital

As house prices rise, it can be used as security for extra borrowing

There are a number of expenses involved with remortaging. These include:

  • Legal Fees – please contact us for a FREE fixed fee quote;
  • Land Registry registration fee;
  • Land Registry search fee;
  • Local authority, environmental and bankruptcy search fees (depending on lender);
  • Bank charge for redeeming existing mortgage.
The Veitch Penny team will ensure:

  • that you are aware and understand the purchasing process;
  • that your solicitor is available to answer any queries you may have;
  • you get regular updates by phone, email, SMS or in writing as your case progresses;
  • fixed fee costs so you know how much you have to pay, with no hidden surprises.
You should ensure that there will be no penalty charge payable to your present mortgage lender and that you are tied to them in any way. A combination of having to pay early repayment penalties to one lender as well as paying fees to a new lender in order to switch can wipe out many of the savings that you could otherwise make.

You need to know exactly what the new mortgage is going to cost you and how long any discounts or fixed rates apply for.

Once you have got your new offer of mortgage the legal process is fairly straightforward. We can carry out the legal checks that your new mortgage lender will want. We will check exactly how much you need to pay to your old lender on a fixed date to pay off everything that you owe. On the chosen date we then draw your new mortgage loan from the new lender, pay off the old loan and pay over to you any surplus.

We then have to register the changes at the Land Registry.

It is important to remember that if you have taken out a second loan on the property with a different lender (and these are often arranged in conjunction with home improvements such as window replacements or new conservatories) you may need to pay off that additional borrowing as part of the deal.

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Planning Applications, Listed Buildings & Change of Use

Before you go to the expense of making a planning application you should check whether there are any legal restrictions in the development of your property.

Planning is a complex area of law and you need a specialist to help you through the regulations associated with the plans for your property. We work closely with a number of Architects, Planning contractors and building surveyors to provide an integrated approach.

Planning permission is usually required when extending your property or changing the use of your property. We are here to support you through the procedures of obtaining planning permission or appealing against a decision.

We are able to assist with additions or extensions to a house, flat or maisonette, dividing your home, building a separate house in your garden or self-building on your own plot. We can also help if you wish to object to a planning application or are adversely affected by your neighbour’s building work.

We can offer you advice in a range of planning issues including:
  • The need for planning
  • Applications
  • Building regulations
  • Permitted development
  • Appeals
  • Enforcement and enforcement appeals
  • Changes of use
  • Planning obligations/agreements
  • Highway law
  • Public rights of way
  • Conservation areas
  • Listed buildings
  • Commons and village greens
  • Trees and hedgerows

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Buy-to-let is a great way to secure a regular income and a long-term investment. We know that you’ll be eager to generate a return from your investment so we’ll make sure you are able to complete on your purchase as soon as possible.

Becoming a private landlord can be a complicated process. There are many new regulations that apply to private landlords, which you must comply with. If you don’t meet your obligations there can be serious consequences.

To make sure you get it right we can guide you through the process of becoming a landlord and assist you with the practicalities, such as:

  • Vetting your tenants to check that they are financially sound
  • Preparing the Tenancy Agreement
  • Arranging the Energy Performance Certificate
  • Obtaining the deposit from your new tenants

If you’re a first-time landlord our advice will give you the peace of mind that you’ve got everything covered.

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Why Choose Veitch Penny?

Free No-Obligation Quotes

Competitive pricing, a free quote within 1 working day and completely transparent (no hidden costs, ever!)

Jargon Free

We won't bog you down with complicated language or jargon, and will guide you through the process.

Regular Updates

We will always keep your regularly updated on the progress of your case.

Local knowledge and Experience

Our legal professionals have many years experience and have real working knowledge of the local property markets.

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