Toomey News

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...

The do’s and don’ts of buying at auction

The do’s and don’ts of buying at auction

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...

Fenwick Ridley Selected to Represent Team GB

Fenwick Ridley Selected to Represent Team GB

Hexham man Fenwick Ridley, swim coach, has been selected again to be a member of Team GB in the 5th Ice Swimming World Championships in Samoëns, France, in January 2023. His passion for swimming in...

Do you need a solicitor when buying at auction?

Do you need a solicitor when buying at auction?

If you’re thinking about purchasing a property through an auction for the first time, you probably have a lot of questions. One of the most common questions first-time auction buyers have is whether...

5 reasons why your mortgage offer was declined

5 reasons why your mortgage offer was declined

If you’re new to understanding the property ladder and mortgages, you might have been asking yourself ‘can a mortgage be declined after offer?’ unfortunately the answer to that is yes. As upset and...

Who organises a survey when buying a house?

Who organises a survey when buying a house?

When buying a new home, getting a survey done is extremely important. This is because it will tell you whether the property is worth the price, you’re going to pay for it and if you’ll be stuck with...

Is it worth buying the freehold of my house?

Is it worth buying the freehold of my house?

When a property is sold, sometimes it won’t come with the land that it is built on. So, any buyers that are about to start the process of purchasing a house should double check which basis both the...

Do you pay stamp duty on commercial property?

Do you pay stamp duty on commercial property?

If you’re interested in buying a non-residential property like shops, offices, or work units, there is so much to do and think about you may not be aware of whether you are required to pay stamp...

We welcome Dawn and Mayuri to the Toomey team!

We welcome Dawn and Mayuri to the Toomey team!

Toomey Legal are very proud to announce further additions to our already experienced team. Pictured with Sue Shaw-Toomey, our Director, is Dawn Norgrove who joins as Receptionist/Secretary and...

We’re LEAP Best Practice Standard certified!

We’re LEAP Best Practice Standard certified!

You know you are in safe hands with us as 4 times per year we get audited to the LEAP Best Practice Standard. LEAP helps us communicate faster and more clearly, allowing us to exceed our client's...

How long does conveyancing take with no chain?

How long does conveyancing take with no chain?

If you’re buying a home, you’re probably excited to get the ball rolling and want a quick conveyancing process. In most cases, the average conveyancing for purchasing a home will take anywhere...

Top things first time buyers need to know

Top things first time buyers need to know

Being a first time buyer looking for your first home can be scary and complicated. It’s easy for buyers to feel overwhelmed fairly quickly into the process. That’s why we’ve put together a guide...

How much deposit does a first time buyer need?

How much deposit does a first time buyer need?

As a first time buyer it can be tricky to navigate the world of mortgages and everything you need to do before getting the keys to your new home. Before you start to look at properties, you will...

What Is Conveyancing And What Does It Mean?

What Is Conveyancing And What Does It Mean?

If you are selling or purchasing a property, then it is important that you use the right legal services. This guide explains conveyancing, why it’s important and the typical process involved. Buying...

What is a deed of variation

What is a deed of variation

A deed of variation is a legal document that allows one or more beneficiaries of an estate to amend their rights under the deceased's will (if one exists) or intestacy provisions (where there is no...

What Is A Declaration Of Trust?

What Is A Declaration Of Trust?

A declaration of trust is a key document which relates to a trust and is relevant for any beneficiaries. This guide explains everything you need to know about this document including how it relates...

Is A Conveyancer The Same As A Solicitor?

Is A Conveyancer The Same As A Solicitor?

If you need legal support, it’s important to get advice from the right professional. This guide explains the key differences between a conveyancer and a solicitor that you should be aware of.  ...

What is Commercial property law?

What is Commercial property law?

Commercial property is real estate that’s used for various kinds of business activities. While it usually refers to buildings that house businesses, it can also refer to land used to generate a...

What Are The Different Types Of Property Disputes?

What Are The Different Types Of Property Disputes?

There are many different types of property disputes. Some common ones include boundary disputes, easement disputes, and title disputes. Boundary disputes occur when two or more people disagree about...

Easter Garden Trail 2022

Easter Garden Trail 2022

Toomey Legal are pleased to announce their Easter Garden Trail 2022. You MUST pre-book your space by the contact email. Limited spaces are available so book early to avoid disappointment. All...