Toomey News

When buying residential property, the role of commercial conveyancing solicitors in lease negotiations is often overlooked. However, understanding the lease agreement's terms is essential for...

Whether launching a start-up, expanding your business, or investing for your future, buying commercial property is an exciting experience.   However, the process can be complex, and buyers should...

The continued rise in the cost of living leaves many of us worried about how we'd afford a sudden rent increase.   However, your landlord can't increase your rent whenever they like. They also can't...

Whether you're purchasing an office space, industrial property, or retail unit, the legalities involved in commercial property transactions are more intricate than those involved in residential...

Due diligence is essential when you're investing in commercial property. UK commercial property transactions are highly regulated, so overlooking key aspects of the property could result in costly...

With the Bank of England’s Monetary Policy Committee cutting interest rates from 5.25% to 5% at the start of August, there may be more changes to come. Most of us associate interest rates with the...

There can be a lot to think about when selling your house, such as cleaning, transporting precious items, and moving to a new residence. However, it’s important not to lose sight of the fact that...

A commercial lease often has more flexibility than residential ones, as it’s assumed that the landlord and tenant are more experienced due to their shared role as business owners. Nevertheless,...

When buying property, it’s important to look ahead and plan what the investment can be used for later. One way to make use of the value of a property is through equity release. To help buyers and...

When buying commercial property, it’s important to consider all the potential extra costs that might come with the transaction. While conveyancer fees are a part of commercial property purchases,...

Purchasing with the intention to rent commercial property is a popular choice due to the returns. However, this is only guaranteed if the rental income outweighs any of the running costs and other...

Conveyancing will always refer to the transfer of property from one owner to another. However, it’s the conveyancing process and the environment around property transactions which can change over...

Commercial property investment is a lucrative venture that can offer substantial returns. However, like any investment, it comes with its own set of risks and challenges. Conveyancing is one aspect...

Business rates are used by local councils in the UK to gather additional funds for services. This is upheld under the 2013 business rates retention agreements, with business rates varying based off...

Enfranchisement is a key concept in property law that is important for both leaseholders and freeholders. Understanding its historical context, legal definition, and the process involved is crucial...

Becoming a landlord can be a natural step for many. However, if you haven’t done the proper research or you aren’t used to managing the new responsibilities, there might be certain legal...

One of the key steps in commercial property conveyancing is to examine the commercial lease, including each of its clauses. If you are inheriting a commercial property with existing tenants, you...

Investing in property to let can seem like an intimidating prospect for first time landlords. However, joint ownership is quickly being recognised as a way to lessen the burden of the initial...

Commercial leases are legally binding contracts that exist between a landlord and a tenant that’s occupying a property for business purposes. The lease establishes the rights of both parties in...

Make no mistake, buying commercial property is an investment. This means that buyers should seek to generate a return on the money spent on commercial property purchase, either through utilising the...

As you likely know, council tax is a type of tax set by local authorities in order to raise money for local services. This includes rubbish collection, road repairs, funding charities, and much...

Whether you are choosing to sell your commercial property or invest in expanding your portfolio/business, it’s important to know how long the process could take. For instance, knowledge of the...

Insurance policies are essential for any property owner to protect their investment and any assets kept on the premises. This is especially important for commercial property that is occupied by...

For those who are entering into a commercial lease, or commercial landlords who are leasing their premises, Authorised Guarantee Agreements can instil responsibilities on the parties involved. This...

Those that own property to let need to be aware of UK laws designed to ensure the electrical safety of their tenants. Electrical Installation Condition Reports are one such product of these...

Contrary to popular belief, not all commercial properties have to be used for commercial purposes. Buildings that see both residential and commercial use, known as mixed use properties, are...

Buying commercial property can be risky and rewarding in equal measure. However, there are various mistakes which must be avoided when buying commercial property to secure the long term benefits....

Conveyancing might seem like an intimidating process for first time buyers and those who aren’t familiar with what’s involved. Fortunately, there’s a number of frameworks which experienced...

Remortgaging can be a useful option for property owners in many circumstances. However, there is a decent amount of planning that needs to go into remortgaging before it can be executed well. One...

Increasing the value of a property, commercial or residential, is often of interest to those who own the property. However, there are many factors that can affect the value of a commercial property,...

Buying commercial property is big decision and one that should be made with full awareness of all the factors involved. Of these, it could be argued that tax considerations can have the most varied...

Evaluating a lease agreement can be a complex and challenging process. There are many variations in property leases, either due to the type of property, location, features, how it’s used, and many...

Lease agreements for commercial property typically take longer to compile for several reasons. One of these being that the lease documentation for commercial properties usually contains more terms...

Selling a property with tenants can be beneficial for landlords, but there are key considerations to be made to ensure the sale goes smoothly and all parties are happy with the outcome. In this...

If you have a business and are looking for premises, you might be wondering what type of commercial property is right for you and your needs. Equally you should take care to choose the right type of...

With the Corporate Sustainability Due Diligence Directive legislation expected to reach an agreement soon, companies will be expected to make a host of changes to be more environmentally friendly....

It’s law that any property buyer must declare the circumstances of their transaction with HMRC. The nature of your declaration can lead to additional tax considerations, especially when it comes to...

It could be argued that selling a commercial property, or a property of any kind for that matter, is just as important as its purchase. This is because every property transaction is a two-way...

Buying a commercial property for the first time may seem daunting. In fact, many individuals don’t consider whether or not commercial properties can be used for personal use. This means they might...

As you may know, the conveyancing process comes with a variety of different steps that ensure buyers and sellers reach an agreement that is beneficial for both parties. One such step that is often...

If you’ve ever purchased a house before you’ll know the intricacies involved in purchasing a property, the same principles apply in buying commercial property, with just as much risk that something...

Buying a property can be beneficial for many reasons beyond simply putting a roof over your head. Investing in a range of residential and commercial property can expand and diversify your property...

Buying commercial property is an important financial decision that shouldn’t be taken lightly. When you find what you believe to be the right property to suit your needs and purpose, following due...

The housing market is in an unstable place at the moment with a lot of fluctuation in house prices. As a buyer, you may be considering a new build property when exploring your options and that could...

Buying a commercial property can be a great investment opportunity for many people, but if you’re a first time buyer, you might be wondering whether you can buy a commercial property. There is often...

There are many listed buildings across the UK, some of which get put on the market. Due to their prestige, buyers often jump at the opportunity to but a listed building near them. However, these...

Buying a property is a massive step which many people find difficult to accomplish by going to market. An alternative is to make a property purchase at auction. Having access to a range of...

Following the coronavirus pandemic, Brexit, and the ongoing economic crisis, the housing market has been left in turmoil. Even as things have started to recover with mortgage interest rates...

It’s not quite as well-known as residential conveyancing, but commercial property conveyancing is an important legal process. It is the transfer of ownership or leasehold of a property that is used...

As we’ve talked about before, the new build conveyancing process has some additions that make it slightly more complex and time consuming. While this should by no means a deal breaker for buyers,...

Transferring ownership from one property to another can be a lengthy process with many stages. This leads many people to wondering what is entailed, especially when it comes to properties that serve...

A North-East homelessness charity's Christmas appeal has been given a boost thanks to a donation from local conveyancing experts Toomey Legal. The ‘Giving a Home’ Christmas appeal, run by Oasis...

As a business owner, your premises are vital to your success. It’s where your staff work, products are produced, and where customers come to receive your services. Any factors that affect the...

Whether you’re looking to create your own new build property from scratch or buy an existing new build, there are many considerations. You may have heard about the risks and hidden costs of new...

A contract pack is a set of legal documents, which is given to the buyer’s conveyancer by the seller’s conveyancer. This is an essential step in the process for both residential and commercial...

Any lengthy legal process has the risk of things going wrong and conveyancing is no different. There are many steps, each with a variety of considerations that need to be taken into account. While...

If you’re a first time buyer or someone that hasn’t reached the completion stage of a property sale, you may have never had title deeds. However, you will have probably heard of it. This is because...

Living in a commercial property is likely not something many buyers have considered. However, in periods where residential house prices are very high and mortgage rates are rising, this can be an...

The process of designing and purchasing a new build home as a buyer can be very exciting. However, it’s best not to rush into your dream property. Even though new build homes can be designed exactly...

Whether you’re an established business owner or someone looking to set up their first business premises, getting a mortgage on a commercial property is a big step. It’s a valuable asset that will...

Many new build homeowners are unsure whether they can make extensions to their property after it has been completed. This confusion typically stems from planning and developer permission....

Commercial property transactions are a business investment. These assets fall squarely within the definition of goods and services, meaning their purchase can be subject to VAT. However, VAT...

Buying a property is a big investment with a lot of moving parts, paperwork and sometimes a great deal of stress too. When going through this process you’ll want to have a property conveyancing...

Well, yes and no. The new build conveyancing process has many similarities to that of an older property, although with some added complexities. These largely stem from the potential risks associated...

If you’ve found a property that you love and are keen to make an offer, but it’s situated in a conservation area. It’s important to know what that will mean for you if you become its new owner....

Putting in an offer on a property is exciting, especially if you’re a first-time buyer. When you find a property you really love, you just want to get the keys and move in as soon as possible....

New build residential properties have a lot to offer prospective buyers. They can yield many benefits while adding an extra level of excitement to the conveyancing process. However, there are...

Regardless of your position, you may feel it’s in your best interest to renegotiate the terms of a property sale. However, this can be a step backwards in the conveyancing process, leading to the...

Remortgaging can be highly beneficial to homeowners looking to get better rates or release equity from the property. However, many are put off and rule this option out because they think you’re...

If you’re looking to sell your business, you’ll naturally want to complete the sale as quickly as possible. After all the next chapter or whatever you’re moving on to will be waiting. The exact...

Aside from being a funny and made-up sounding word, gazundering is a very real problem for UK property sellers. In the best case, it can leave sellers with less than what they perceive is their...

Growth in average UK house prices continues to fall. As such, there are likely to be more first-time buyers entering the market and facing the twists and turns of property chains.  A property chain...

Buying any type of commercial property and the business that comes with it, can be challenging. The hospitality industry though, is one of the most competitive and stressful industries to get into....

A green lease imposes environmental responsibilities on a landlord and their tenants. These obligations are in addition to the contractual arrangements for use of the assets.   Green leases are...

Many individuals like the idea of buying a commercial property and renting it out, which is understandable – in the right circumstances it can be a very lucrative opportunity. However, what often...

Selling a property at auction can be a great option for homeowners who are looking for quick sale or have a troublesome house that isn’t selling the conventional way. However, there is a lot to...

If you’re buying or selling a property you will naturally want to make the process, go as quickly and smoothly as possible. The question of whether the same conveyancer can be used for buying and...

When you’ve made the offer on your perfect home and get the exciting news that it has been accepted you might think that’s all the stress and challenges over. That might very well be the case but...

Buying houses to rent out is a very popular investment in the UK, as it can provide a stable and reasonably high level of income depending on how many properties are in your portfolio. If you’re...

When you’re buying a house, you consider the location it is in and how beneficial that area is to you, and the same applies to commercial property. In fact, it might be even more important to choose...

If you are buying or selling a property, you might have come across the term ‘vacant possession’ as you start that journey. Whether a property is being sold with or without vacant possession it will...

At the start of any commercial property transaction, a prospective buyer will likely want to make enquiries to the seller in order for them to understand the property better. These are known as...

A bridging loan provides quick access to funds to those who need it temporarily like if they are buying a property at auction or are in a chain. However, pretty much all loans come with some element...

When you purchase a leasehold property whether that is a house or flat, it can be similar to renting in that there may be some restrictions in place that you would need to agree with the freeholder...

There are a number of fees and costs involved when it comes to buying a residential property, one of which is a Land Registry fee. Despite not being massively expensive in most cases it is still...

If you’re purchasing an investment property, you will need an expert buy to let conveyancing solicitor to guide you through and carry out the legal side of the transaction on your behalf. In this...

A tenant’s legal position when their commercial lease expires will largely come down to if the lease adheres to the Landlord and Tenant Act 1954. Commercial tenants normally stay in a property when...

For many individuals wanting to start a business, finding the right building to base your day-to-day operations in can be very challenging, especially given the often extremely high costs attached....

Fixed fee conveyancing is a term used to describe a pre-agreed price set for the legal service that is being provided. So, the price you are quoted at the start of the process before work starts...

Conveyancing searches, also sometimes referred to as property searches, are public authority enquiries that help you get more information about a property you intend to buy. For example, searches...

Having a mortgage application withdrawn after contracts have been exchanged is quite rare, but it can happen occasionally, and when it does it can be very distressing for buyers who were just inches...

The commercial property market in the UK has seen a big increase in demand from investors after the uncertainty that came from the decision to leave the EU. This led to record levels of investment...

If you’re wanting to buy an existing business instead of starting a completely new venture from scratch, there are some important things you’ll need to consider first. In this guide, we’ll be going...

House auctions can be a great way to grab a bargain or buy a property quickly. In the past, auctions were mostly attended by cash buyers and investors looking for a project. Over time though, all...

If you’re interested in remortgaging, you might assume that you need to wait until you’re existing deal ends before you can even get the ball rolling, which isn’t necessarily true. If your current...

From a legal point view, every business bought is unique with its own specific combination of factors and legal issues that need to be dealt with. However, there are similar aspects that are common...

New build properties have become an increasingly popular option for first time buyers for several different reasons. Buying a new build is different to purchasing an older house. However, there’s a...

Commercial property is a popular option for many investors because it has the potential to offer healthy capital growth, consistent monthly income, and more security than investing in stocks and...

Brits have long had an interest in property, whether it be a house or a flat. As a result, it’s not surprising that in recent years this love of property has expanded into commercial property, with...

Buying a property at auction can be a straightforward and hassle-free process if you know what to do. In this article, we’ll be looking at the key dos and don’ts of buying a house at auction, so you...