Toomey News

How much does commercial conveyancing cost?

How much does commercial conveyancing cost?

 Commercial conveyancing tends to be more complex than residential transactions and, as such, more expensive.    It's vital that business owners, investors, and landlords understand commercial...

How much does residential conveyancing cost?

How much does residential conveyancing cost?

The commercial conveyancing process is an essential element in buying and selling property. However, conveyancing fees are one of the most overlooked expenses.   Understanding these fees will help...

Buying Commercial Property: What You Need to Know

Buying Commercial Property: What You Need to Know

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...

How much can my landlord increase the rent?

How much can my landlord increase the rent?

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...

Tips for a Smooth Commercial Conveyancing Process

Tips for a Smooth Commercial Conveyancing Process

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...

Do interest rates impact property transactions?

Do interest rates impact property transactions?

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...

How to reduce costs when selling your house

How to reduce costs when selling your house

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...

What is equity release?

What is equity release?

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...

How much can a landlord increase rent?

How much can a landlord increase rent?

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...

Key conveyancing changes in 2024

Key conveyancing changes in 2024

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...

Everything to know about Enfranchisement

Everything to know about Enfranchisement

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...

Do landlords need to be registered?

Do landlords need to be registered?

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...

Can you break a commercial lease early?

Can you break a commercial lease early?

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...

Can two people be landlords?

Can two people be landlords?

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...

Is a commercial property worth more with a tenant?

Is a commercial property worth more with a tenant?

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...

Do landlords pay council tax?

Do landlords pay council tax?

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...

What should commercial landlord insurance cover?

What should commercial landlord insurance cover?

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...

Can you change the use of a commercial property?

Can you change the use of a commercial property?

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...

What are protocol forms in conveyancing

What are protocol forms in conveyancing

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...

How long does it take to remortgage?

How long does it take to remortgage?

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...

Tax considerations when buying commercial property

Tax considerations when buying 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...

How to choose the perfect commercial property types

How to choose the perfect commercial property types

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...

Can I buy a commercial property for personal use?

Can I buy a commercial property for personal use?

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...

The importance of title searches in conveyancing

The importance of title searches in conveyancing

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...

Is a commercial property a good investment?

Is a commercial property a good investment?

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...

Do new build properties hold their value?

Do new build properties hold their value?

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...

Can a first time buyer buy a commercial property?

Can a first time buyer buy a commercial property?

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...

The pros and cons of buying a house at auction

The pros and cons of buying a house at auction

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...

A guide to commercial property conveyancing

A guide to commercial property conveyancing

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...

What is classed as a new build property?

What is classed as a new build property?

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,...

Are all new builds leasehold?

Are all new builds leasehold?

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...

What is a contract pack?

What is a contract pack?

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...

What can go wrong during conveyancing?

What can go wrong during conveyancing?

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...

What are property title deeds?

What are property title deeds?

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...

Can you live in a commercial property?

Can you live in a commercial property?

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...

Do you need a survey on a new build property?

Do you need a survey on a new build property?

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...

Can you get a mortgage on a commercial property?

Can you get a mortgage on a commercial property?

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...

Can you extend a new build property?

Can you extend a new build property?

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....

How to put in an offer on a property: The process

How to put in an offer on a property: The process

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....

Do you pay capital gains tax on a remortgage?

Do you pay capital gains tax on a remortgage?

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...

How long does it take to sell a business?

How long does it take to sell a business?

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...

What is gazundering and is it legal?

What is gazundering and is it legal?

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...

What is a property chain?

What is a property chain?

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...

Tips for buying a hotel

Tips for buying a hotel

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....

Green Lease: What you should know

Green Lease: What you should know

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...

What is gazumping and how do you avoid it?

What is gazumping and how do you avoid it?

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...

5 tips for buying a house to rent

5 tips for buying a house to rent

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...

What does vacant possession mean?

What does vacant possession mean?

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...

What are commercial property standard enquiries?

What are commercial property standard enquiries?

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...

What is a bridging loan?

What is a bridging loan?

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...

What are Land Registry fees?

What are Land Registry fees?

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...

What is buy to let conveyancing?

What is buy to let conveyancing?

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...

What happens when a commercial lease expires?

What happens when a commercial lease expires?

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...

How to change a residential property to commercial

How to change a residential property to commercial

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....

What is fixed fee conveyancing?

What is fixed fee conveyancing?

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...

What are conveyancing searches?

What are conveyancing searches?

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...

Reasons for mortgage withdrawal after exchange

Reasons for mortgage withdrawal after exchange

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...

How to make money from commercial property

How to make money from commercial property

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...

Top tips for buying a business

Top tips for buying a business

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...

How do house auctions work?

How do house auctions work?

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...

Can you remortgage early?

Can you remortgage early?

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...

Conveyancing process for buying a business

Conveyancing process for buying a business

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...

What to look for when buying a new build property

What to look for when buying a new build property

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...