Knowledgebase
Toomey Legal Flow Chart
Step 1 Your offer is accepted, and you instruct a Conveyancer. We open a file and send a client care pack for you to complete and return. UK ‘national average’ for the Conveyancing process is 12-16...
What is the problem with leaseholds?
To answer that you first need to know: What is the difference between freehold and leasehold? IF YOU OWN THE FREEHOLD, YOU OWN THE PROPERTY INDEFINITELY. IF YOU OWN THE LEASEHOLD THEN...
What is Leasehold Property?
There are two ways to own property: Freehold and Leasehold. A Freehold is when you own the property indefinitely, with Leasehold property you have the right to the property for only the length of...
So what exactly happens when you’re buying a property?
Your Toomey Legal step-by-step guide This is a very brief step by step guide of the purchasing process. There may be additional things come up which means that one or more of the stages are not...
Understanding Stamp Duty
Many of you many know that Stamp Duty Land Tax (SDLT) is a tax payable when you buy property or land over a certain price. Stamp Duty was introduced in 1694 as a way to raise monies for war against...
Lasting Power of Attorney for your Business
Many people have heard of Lasting Powers of Attorney for personal matters. Which allow you to give another trusted person the ability to deal with your finances and/or health decisions on your...
How do I buy my freehold or extend my lease?
The procedure for both is broadly the same so I will try and keep it simple! What will it cost? PROBABLY A LOT LESS THAN THE “VALUATION” THE FREEHOLDER ASKS YOU TO PAY! It is normally possible to...