Property Conveyancing Archives

What happens on completion day?

Posted on 26 January 202326 March 2025 by Sarah O'Sullivan

The day of completion is the final step in the house buying and selling process. It is the pre-arranged date when the financial and legal formalities are concluded, and the ownership of the property is transferred from the seller to the buyer.

On the day of completion, the following steps typically take place:

The buyers’ solicitor will transfer the funds to the sellers’ solicitor.
Once the funds have been received, the seller’s solicitor will contact the buyer’s solicitor to confirm that the funds have been received and will confirm to the estate agents that the keys can be handed to the buyers.
The seller’s solicitor will then send the deeds of the property to the buyer’s solicitor.
The buyer’s solicitor will check the deeds to ensure they are in order and that the property has been legally transferred to the buyer. They will then apply for the title to be amended at the land registry.

The buyer is responsible for arranging the connection of utilities, registering with the local council and other services required at the new property. All of this should be completed from the date of completion. The buyer will normally be responsible for the building’s insurance from the date of exchange rather than completion. Your solicitor will make you aware of this at the appropriate time in the process.

The completion date is the date the buyer takes possession of the property and will have been agreed on by both parties in the sale contract. However, on occasion, the completion process may be subject to delays or complications, and it’s always advisable to work with a reputable solicitor and estate agent to ensure a smooth and efficient process.

Answers to common questions about the day of completion day:

What do conveyancing solicitors check on completion day?

Your conveyancing solicitor will handle the legality of transferring the funds, confirming the transaction has been completed, dealing with all the paperwork and deeds, and (if you’re the seller) redeeming or discharging any mortgage secured against the property.

Prior to completion, the buyer’s conveyancing solicitor will check all mortgage conditions have been met and request the money from the lender.
The seller’s solicitors will request a redemption statement (calculated to the day of completion) if there’s a mortgage on the seller’s property.
For the buyer to become the new registered owner of the property, the transfer deed must be signed by the seller (and also sometimes the buyer). This is usually prepared in advance prior to the completion day.
Conveyancing solicitors on each side create completion statements of all payments made and received and set out any invoices to be paid on completion.
On completion day both solicitors make final checks, and then the buyer’s solicitor will transfer the purchase money via the CHAPS banking system to the seller. For more information on CHAPS, visit the Bank of England website.
Once the signed transfer deed and any other deeds are received, the buyer’s solicitor will complete and submit a transfer form to the Land Registry. This enables the transfer of ownership from the seller to the buyer.
Once the seller’s solicitor has received the funds, they’ll confirm completion with the buyer and release the keys from the estate agent. They also ensure specific charges are paid, including the seller’s estate agent fees.
The buyer will be notified of the completion they can then move into the property.

What can go wrong on completion day?

On completion day, there are several potential issues that may arise, which could delay or disrupt the process of transferring ownership of a property. One potential issue is a delay in the transfer of funds from the lender to the solicitor and between solicitors in the chain of the sale. These delays may occur due to fraud checks, technical difficulties or a lack of sufficient funds. It’s essential to ensure that all outstanding bills and fees, including stamp duty land tax, if applicable, are settled before completion day to avoid any issues.

There may also be delays with the seller vacating the property on time. It’s important to confirm with your removal company the time of their arrival and be prepared for how long it will take to move your belongings. To minimize disruptions, it’s recommended to do as much packing as possible before completion day.

What time do you normally get the keys on completion day?

The time that keys are handed over on completion day can vary depending on the specific circumstances of the sale. Typically, keys are handed over to the buyer once the funds have been transferred and the legal paperwork has been completed. The exact time of key handover will be agreed upon by the buyer and the seller, and it’s usually coordinated through their solicitors or estate agents.

Usually, the keys are handed over in the afternoon, between 12:00 pm and 4:00 pm, but it can vary. The buyer and the seller can agree on a specific time and date to hand over the keys, based on their availability and the time they need to move out of and into the property.

If the completion process is subject to any delays or complications the keys may be handed over later than expected. Therefore, it’s always advisable to have a plan B. Open communication with the seller and your solicitor can help avoid these delays.

Should I call my solicitor on completion day?

Your solicitor will call you when completion has happened. However, it’s a good idea to contact your solicitor on completion day to confirm that the process is proceeding as planned and that all necessary paperwork has been completed. They can also advise you on any final steps that may need to be taken and answer any questions you may have about the property transfer.

In summary, on completion day, you need to make sure the funds are transferred, legal paperwork is completed, arrange for utilities to be connected, register with the local council and other service providers, collect keys, and move into your new property.

Buying a listed building

Posted on 24 November 202227 March 2025 by Sarah O'Sullivan

Many buildings in England that were built before the Victorian era, are listed buildings, so it’s not that unusual to find yourself considering buying one. Before you take the plunge, read our guide covering what you need to know about owning a listed building.

Listed buildings are protected by law

This means owners need listed-building consent and planning consent for changes, even minor changes – and that applies to the inside, as well as the exterior. If you don’t get listed building consent before starting work, it’s a criminal, rather than a civil, offence! While this extra red tape shouldn’t put you off buying a listed building, you need to be aware of the challenges and potential extra costs involved before buying.

Additional challenges that buying a listed building brings:

getting permission from the local authority for any changes to the building can take a long time to organise
buying specialist insurance
additional costs to run the building and repair it, using specialist builders and specialist materials
modern adaptations, such as energy efficient changes like insulation or double-glazing, may not be allowed.

What is a Listed Building?

A listed building is one with special historical or architectural interest. It’s protected by the Planning (Listed Buildings and Conservation Areas) Act 1990). They are listed to preserve their special features for future generations of people to enjoy, protecting them from changes, which could damage the building, or are not ‘in-keeping’. In most cases, this covers the whole building (inside and out) plus structures attached to the building, including modern extensions. It can also include outbuildings and garden features.

Generally, listed buildings are from the 19th century or before. England has a good quantity of very old buildings and most of the ones built before 1700, that are still in the original state, are listed. Modern buildings can be listed if they are an example from a famous architect or a good example of a specific style or building technique.

Listed status is granted by the government (the department for Digital, Culture, Media and Sport) on recommendation from an independent panel of experts such as Historic England. There are approximately 400,000 listed properties in England, with three grades:

Grade I (2.5% of listed buildings) – buildings of exceptional interest
Grade II* (5.5% of listed buildings) – buildings of particular importance
Grade II (92% of listed buildings) – buildings of special architectural or historic interest warranting every effort to preserve them.

The different grades carry different limitations so if you’re thinking of buying the building, it’s vital that you know which grade it falls into. Most Grade 1 buildings are owned by the government or major organisations so you will most likely be looking at Grade 2* or Grade 2.

Buying a Listed Building – a checklist of what to do

Although the buying process is the same, you will have different and multiple obligations even if you own the freehold. Never make any assumptions about what you will be able to change. Ask an expert before you buy the property.

Find a listed building expert – the Historic England website has a guide to experts.
Do a listed building map search if you’re viewing older properties (1900 and before) that aren’t advertised as being listed, just to make sure.
Understand why it was listed. The National Heritage List for England will give you the date it was listed, the grade and a description of the listed building, along with the explanation as to why it was listed and the details of the restrictions which helps you understand what you won’t likely be able to change.
Gather all the details together and make sure they’re accurate before you buy the property because you won’t be allowed to change the elements that are listed. Take particular care with extensions – the restrictions may well cover an extension as well.
Get a specialist survey – do not skip this step! Consult with the specialist surveyor who’ll be knowledgeable about construction materials, period features, points of historical interest – their survey report will be very helpful.
make sure you have evidence of previous consent to carry out building work. If the previous people didn’t get this, and you buy the property, it will be up to you to fix any errors; this could be extremely expensive.
Find out if you can get a grant from organisations like Historic England to help pay for repairs. Research grants to find out more about your building may also be available.

What does the local conservation officer do?

You need to make a friend of this person! They will:

tell you what you can and can’t alter – you will need consent from them
help you check the planning history to see if there has been any subsequent documentation and crucially whether any unapproved changes were made in the past. If you buy the house, you could be liable for putting those right.
explain the process which includes consultations prior to the submission, to help make it more likely you will get consent.
help you with the large amount of detail needed, which is far more than for a planning application.

Planning a listed building renovation

You must get consent for everything. Don’t be tempted to leave some things out of your application. Take care over ‘like-for-like’ changes, for example roof tiles and windows, as the rules are complex. You may need to apply separately for every change, for example, a new conservatory, new roof space, swimming pool. Remember the process isn’t fast, so leave plenty of time.

The purpose of listed status is to preserve the building. Kitchens and bathrooms apart, you may struggle to get permission for changes. The planning experts will probably be more keen on changes that bring the building back to how it was in years gone by, when it was first built.

Talk at an early stage to the experts: tradespeople, traditional craftspeople and specialist architects. Listen to their advice because they will have done this many times and their advice will likely save you time and money.

If you get the go ahead, you’ll have to pay a listed building consent fee, the cost of which depends on the scale of your renovations.

Modifying a listed building

You will be allowed to change some things and in fact some changes may be necessary to keep it watertight and in good repair. Common modifications for which you should get consent include:

new roof: take particular care with the style and materials used for roof tiles.
internal layout: altering floorplans by taking down internal walls or remove internal features; even though they are inside.
extensions: these are more likely to get the go ahead if they are smaller than the original building and/or if it’s in the same style, using similar materials.
windows: these have a major impact on the overall look of the building so replacing windows with similar traditional materials tends to get approval more easily. Double glazing can be a problem because it often doesn’t look in keeping, but there are alternatives such as secondary glazing leaving the original windows in place.
period features: fireplaces, cornicing, tiles, floorboards, windows – these sorts of features are likely to need preserving, whether or not you are particularly fond of them.
decorating: your personal taste does not have free rein! You may have to use certain paints or colours or styles to maintain the building’s character. Existing decor, if it contributes to the specialness of the building, will have to stay and be preserved.
exposing brickwork or timber: revealing the building’s original features also needs consent.

Older buildings can be in poor condition

Due to their age, even if they have been looked after, old buildings struggle to compete with modern houses when it comes to things like energy efficiency and keeping out the cold. Four things to look out for when assessing your prospective new home are:

Damp: many older buildings have it because they were built differently; they were built to ‘breathe’ and not built to be airtight. Make sure the roof at least is sound.
Plumbing: poor plumbing will be common and getting that sorted should be a priority to avoid disasters like burst pipes.
Electrics: similar to plumbing, the electrics could be ancient and therefore dangerous. The building regulations on electrics are strict and it’s likely you will need to spend money here. Poor electrics and timber-framed or thatched houses are not a good mix, so you’ll need budget to get the wiring done first.
Draughts: you’re unlikely to win any energy efficiency awards. Ill-fitting windows, gaps in floorboards and poor or non-existent insulation all make for a chilly house. Getting that stuff fixed will all need consent.

Listed building insurance

You will need more than a standard policy. Get a specialist insurance policy that does the following:

takes into account the higher cost of specialist tradespeople
covers you for any unauthorised changes that were made by previous owners that may come to light. You will be liable for those even though there were nothing to do with you
covers the elevated costs of rebuilding in the event of a disaster such as a fire. Organisations such as English Heritage will want it returned to its original state and what that costs is not their worry!

While your insurance policy may be more costly than for a three-bed semi, the peace of mind it brings will be invaluable.

Should I buy a listed building?

Don’t let listed status put you off. If you go ahead, you will become the owners of a beautiful home that stands out from the crowd, is brimming with character and will likely retain its value well, all other things considered. Just make sure you take care with every detailed step. Having an expert conveyancer on your side is always a good idea, so you can rest easy knowing nothing has been overlooked.

Tees sweeps two awards

Posted on 4 May 202130 March 2025 by Sarah O'Sullivan

Tees celebrates double success at Cambridgeshire Law Society Excellence Awards

Tees, the local law firm with offices in Cambridge, Bishop’s Stortford, Royston, Saffron Walden, Brentwood, and Chelmsford, celebrated a double success by winning both the Excellence in Technology and Innovation Award and the Residential Property Team of the Year Award at the Cambridgeshire Law Society Excellence Awards. The awards ceremony was held on Zoom on Friday, 23rd April 2021.

Tees also received a Highly Commended award for Injury Litigation Team of the Year, and Private Client Associate Chris Claxton-Shirley was also Highly Commended as a Rising Star.

Celebrating legal excellence

The Excellence Awards celebrate the legal community of Cambridge across various categories, with winners chosen based on criteria such as excellent client service, technical capabilities, and response to the challenges posed by Covid-19.

Prominent attendees included Stephanie Boyce, President of the Law Society of England and Wales; The Rt Hon Lucy Frazer QC MP, Solicitor General; and Elizabeth Rimmer, CEO of LawWorks, which served as the Charity Partner. The awards ceremony was sponsored by Rathbones Investment Management. The Judging Panel was chaired by Ian Mather and included representatives from Rathbones Investment Management, AstraZeneca, Handelsbanken, Barclays Corporate, and FRP Advisory.

Excellence in technology and innovation award

Clare Pilsworth, Family Partner and newly appointed Head of Tees’ Cambridge office, accepted the Excellence in Technology and Innovation Award.

She said:

“Tees has been investing heavily in technology long before the pandemic hit, and we have continued that investment throughout the past year. Winning this award is a testament to the decisions we’ve made as a firm to be at the forefront of innovation and technology in the region. It also reflects the hard work of our IT team in implementation, integration, and training, enabling our solicitors to provide a seamless client experience.”

Residential property team of the year award

Julia Turner, Senior Associate and Head of the Cambridge Residential Conveyancing Team, expressed her gratitude upon receiving the Residential Property Team of the Year Award.

She said:

“This award means so much to the team. We have worked through unprecedented times, delivering a high quality of service. Our demand has grown substantially, and our success is thanks to the consistent hard work of our team.”

Highly commended injury litigation team

The Legal 500 Tier 1 Injury Litigation Team, led by Partner Janine Collier, was Highly Commended for their outstanding work. Tees provides a wide range of services, including personal injury, medical negligence, and inquest representation, securing settlements from modest to multi-million-pound amounts.

Janine said:

“A personal, tailored client experience is at the heart of our service. Each Tees lawyer has fewer cases than other injury practitioners so that they can truly understand the client’s needs and help them to a better future.”

Rising star recognition

Chris Claxton-Shirley received a Highly Commended in the Rising Star category. He shared his pride in his contributions to the firm and the community.

He said:

“I am proud of the contribution I make to Tees, our local community, and the wider profession. I am excited about what the future holds.”

Reflections from the group managing director

Ashton Hunt, Group Managing Director of Tees, expressed his pride in the firm’s achievements:

“Tees has made significant investments in technology over the past eight to ten years, enabling us to successfully navigate the pandemic while continuing to deliver excellent service for our clients. Continuing to invest in the best technology to support our people remains part of our core strategy, and I am truly delighted that the firm’s efforts have been recognised in this way.”

One farming family, over 30 years of trusted legal and financial advice

Posted on 12 April 202129 March 2025 by Sarah O'Sullivan

For over three decades, Tees has provided expert legal services to multiple generations of the Miller* family, a prominent agricultural family with extensive farming, land and property interests located across several English counties.

Our senior partner and specialist in rural succession and estate planning, Catherine Mowat, has worked closely with the Millers for many years, helping them capitalise on opportunities for efficient estate planning and take advantage of valuable Inheritance Tax reliefs.

Alongside Catherine’s team, our Commercial Property, Residential Property, Commercial and Wealth Management teams have worked together collaboratively in order to help the Miller family effectively manage their business and property interests.

Passing assets on to the next generation

Catherine has worked extensively with the Millers over a number of years to put in place comprehensive arrangements that will enable more senior family members to pass on their assets effectively to future generations, whilst minimising the Inheritance Tax (IHT) payable on their estate.

The family were advised to make substantial lifetime gifts to their children and grandchildren, enabling assets to be passed on to younger generations in a controlled way.

How does Inheritance Tax (IHT) work?

IHT is a tax on the capital value of assets (including money, property and possessions) either when somebody has died or on some gifts made during lifetime. On death, it is generally payable at a rate of 40% on all assets over the value of £325,000, although there are exemptions and reliefs that can be used to lessen the amount due. Another way of reducing the IHT payable on your estate is to make lifetime gifts. If you make gifts more than seven years before you die, there will usually be no IHT due on these gifts on your death. If tax does arise, only gifts given less than three years before you die attract the full 40% IHT rate, making lifetime gifts an excellent opportunity for passing on assets to minimise tax.

These lifetime gifts also caused the estate value belonging to the children to rise, increasing their IHT liability. Here, our Wealth team stepped in to help set up suitable life insurance arrangements, written in trust to minimise the impact of a significant tax bill.

Why should I write my life insurance policy in trust?

Writing your life insurance in trust is a way to avoid paying IHT on the eventual payout. When you place an asset into a trust, you essentially give up ownership of that asset to the trust and appoint trustees to oversee it (this can be a solicitor, like Catherine, or somebody else). As the assets (in this case, the life insurance policy) don’t officially belong to you, they aren’t classed as being part of your estate and are therefore not subject to IHT.

Catherine has also worked with the Millers to draft essential estate planning documents such as Wills and Powers of Attorney, and acts as a trustee for the various trusts within which the family’s business and property assets are held. Her many years spent advising this family have enabled her to build a strong relationship with the Millers, bound by mutual trust and respect.

Taking advantage of Inheritance Tax (IHT) relief

Over the years, our Wills, Trusts and Probate team has worked closely with the Millers to ensure their entitlement to valuable IHT reliefs. For example, Catherine’s advice has enabled the family to take full advantage of Agricultural Property Relief (APR) on their eligible assets.

What is Agricultural Property Relief (APR)?

APR allows farming families to pass on agricultural property at a reduced or 0% rate of IHT, either during a person’s lifetime or in their Will. To apply for APR, the land or property must have been owned for at least seven years, or occupied for two years and must be used for growing crops or rearing animals, or take the form of farm buildings, cottages or houses. It does not apply to farm equipment or machinery, derelict buildings, harvested crops or livestock. APR can be due at 100% or 50%, depending on the circumstances.

Catherine also regularly reviews the balance of the Millers’ business activities to ensure that no entitlement to Business Relief (BR) is lost, by using the ‘Balfour’ test.

What is Business Relief (BR)?

BR allows business owners to pass on certain business assets at a reduced or 0% rate of IHT, either while they are still alive or via their Will. The owner must have owned the assets for at least two years before they died for them to be eligible. BR is due at 100% for:

A business, or interest in one
Shares in an unlisted company

It is due at 50% for:

Shares controlling over 50% of the voting rights in a listed company
Land, buildings or machinery owned by the deceased and used in a business in which they were a partner or controlled
Land, buildings or machinery used in the business and held in a trust the business has the right to benefit from

To be eligible for BR, a business must also be classed as a predominantly trading business. However, many farms are becoming increasingly diversified, with activities such as cottage rentals and holiday lets shifting the balance from trading to investment.

Catherine used the Balfour test to assess the Millers’ farming business and used the results to advise the family on achieving the best balance between trading versus investment activities within the farming partnership for BR purposes.

Strategic land and property solutions

Our Commercial Property team regularly steps in to assist the Miller family in matters relating to the lease or sale of land and properties, which include a range of sites with commercially let units, and other strategic deals such as granting options. Rural specialists within our Commercial Property team will negotiate and facilitate these various land transactions.

An example of the type of planning advice we offer might be in relation to land owned by a family trust on which planning permission has been obtained for development. In this situation our Corporate team would step in to advise on the incorporation of a ‘freezer’ company.

The team would also prepare bespoke articles of association, ‘freezing’ the value of certain interests in the company in order to cap ownership. This ensures that the growth and value of the land will be passed on to the next generation tax-efficiently and limit their IHT liability.

What is a ‘freezer’ company?

Also known as a family investment company (FIC), a ‘freezer’ company is essentially a private limited company whose shareholders are all family members. Commercial solicitors can help the family prepare bespoke articles of association that set out the rights and interests each party holds within the company. For example, the parents can set themselves up as voting shareholders – thus maintaining control over the company – but ‘freeze’ the value of their interests in the company to cap their ownership.

Meanwhile, the children can be non-voting shareholders but own the majority of the shares, allowing the growth and value to pass on tax-efficiently to the next generation. This makes ‘freezer’ companies an ideal vehicle for intergenerational wealth management, allowing assets to be passed on during your lifetime whilst still retaining control of them. If you live for more than seven years after setting up the company, no IHT will be due (according to the rules of lifetime gifting).

A full- service firm rural families can depend on

For over a century, Tees has been a trusted partner to farming families like the Millers, helping them pass the family business from generation to generation. In this time, our agricultural specialists have developed a unique understanding of the challenges facing the rural community.

From tailored business advice to passing your land and assets tax-efficiently to the next generation, our specialist agricultural lawyers can help you navigate the complex relationship between business, land and family interests.

*Please note that the family’s name has been changed for anonymity.

Increasing the value of your leasehold property

Posted on 18 June 202026 March 2025 by Sarah O'Sullivan

Over the past few years, the leasehold system has come under significant scrutiny for being unfair and complex. Issues such as extortionate ground rents and service charges, as well as the potentially huge cost involved in extending a lease or buying the freehold, can make owning a leasehold property expensive, complicated and stressful.

Meanwhile, the number of years remaining on your lease can have a significant impact on the asking price of your home, should you choose to sell it, as well as making it extremely difficult to remortgage. In this article, we explain how you can maximise the value of your leasehold property.

What is a leasehold property?

When you purchase a leasehold property, you own the property itself, but not the land it is built on. As a leaseholder, then, you are essentially renting the property from the landlord (or ‘freeholder’) for a certain number of years. As a general rule, most flats are sold as leasehold properties, while most houses are freehold (although they can be sold on a leasehold basis, and usually are if purchased through the Shared Ownership scheme).

What is a lease?

Your lease is a contract between you (the leaseholder) and your landlord (the freeholder) giving you conditional ownership of the property for a set period of time. The usual length of a lease on a new property is either 99 or 125 years, although some larger developers (for example, Persimmon and Barratt Homes) are now offering much longer 999-year leases.

The lease also sets out the contractual obligations between yourself and your landlord. Generally your obligations will include the payment of ground rent and service charge, while your landlord will be contractually bound to maintain, insure and manage the building. The lease may also set out restrictions on what you are permitted to do in your property (called restrictive covenants). For example, some leases may prohibit you from keeping a pet in your flat.

Why does the length of my lease matter?

While a lease is normally granted for a period of 99 or 125 years, the length remaining on the lease can be misleading. Once the remaining term on your lease has dipped below 90 years (which may still seem like a very long time), it is likely that you’ll see the asking price of your home fall quickly, and it can even compromise your ability to remortgage your property.

Once you have 80 years remaining on your lease, very few mortgage lenders will be willing to lend against your property, meaning that those willing and able to purchase will be limited to cash buyers only. It will also cost much more to extend your lease if you let the term dip below 80 years.

What is lease extension?

Because your property becomes less valuable as your remaining term gets shorter, you have the right to extend the lease on your flat under the Leasehold Reform Housing and Urban Development Act 1993. Under the Act, you can extend your lease for a further 90 years at a ‘peppercorn rent’ – i.e. you won’t have to pay any ground rent. So, if you extend your lease when it has 85 years left to run, your extended lease would be for 175 years.

It should be noted, however, that if you allow the remaining term on your property to fall below 80 years before deciding to extend it, the process will cost much more due to a fee known as the ‘marriage value’. Essentially, this means that when you extend the lease, the freeholder has a right to be paid 50% of the value added to the property as a result of the lease extension. This could potentially run into tens of thousands of pounds, so it pays to start the process well before this point.

How do I extend my lease?

Lease extension can be a complex and expensive process, but it will significantly increase the value of your leasehold property. There are two ways of starting the lease extension process. You can take an informal approach and contact your freeholder directly to negotiate a lease extension. This works best if you have a good relationship with your landlord, and it can be much quicker and cheaper to achieve.

However, most leaseholders will have to seek legal advice and take the formal statutory route to lease extension, the steps of which are outlined below:

You must check that you are eligible for lease extension. To be eligible, you must have owned your property on a long lease (i.e. with an original term of over 21 years when it was originally granted) for two years before you are allowed to extend your lease.
You must instruct a solicitor who specialises in lease extensions. When taking the formal route, you are obliged to pay both your and your freeholder’s legal and surveyors costs. As such, you may be tempted to omit this part of the process and deal with the legalities yourself – but this is very much a false economy. Lease extensions can be highly complex, and without the support of an expert, you could end up without retaining your legal rights and ensuring the lease is legally capable of registration at the land registry.
You must also appoint a valuation surveyor with experience in lease extensions to value your property and calculate the premium you must pay to extend your lease. You are responsible for both your and your landlords surveyors fees.
To formally start the lease extension process, your solicitor must serve a ‘section 42 notice’, otherwise known as a tenant’s notice, on the ‘competent landlord’, who will usually be the freeholder. They will then have two months to respond with the terms they accept and reject.
The final step will be to negotiate the wording of your lease extension. Your solicitor will be able to handle the negotiation process on your behalf. If you cannot come to an agreement on price or wording, your case will have to go before a tribunal, which can incur further costs.

What is involved in buying the freehold? Is this better than lease extension?

Under the Leasehold Reform, Housing and Urban Development Act 1993, leaseholders are entitled to join together and purchase their freehold for a fair market price. This right was further reinforced by the Commonhold and Leasehold Reform Act 2002. The process of buying the freehold is called ‘collective enfranchisement’. You’ll own a share of the freehold along with your fellow residents, and although you’ll still have a lease on your flat, you and the other residents who participate will be able to extend it for free.

Buying the freehold costs around as much as extending your lease but can be much more complex because you have to get at least 50% of the residents in your block involved. If the only reason you’re looking to buy the freehold is because of a short lease, it makes more sense to simply take the lease extension route.

However, some flat owners are trapped by unfair leases and expected to pay extortionate ground rent and service charges to their freeholder. They may also find that they’re being charged huge amounts of money for routine maintenance and services to their building. In this case, many residents take the path of buying the freehold, in order to take back control of their block and the money being spent on it.

As with extending your lease, you’ll still have to factor in legal costs and professional valuation fees, which will need to be considered before proceeding with either option. Don’t leave it until the last minute

Whether you’re looking to extend your lease or buy the freehold, it can be a lengthy process and leaving it until the last minute could significantly impact the value of your home.

When you instruct the property conveyancing team here at Tees, we’ll deal with all the legal aspects of extending your lease, providing regular updates throughout the process and dealing with any problems that may arise.

Considering a Buy to Let? Here’s what you need to know

Posted on 12 June 202027 March 2025 by Sarah O'Sullivan

There’s a lot to consider when deciding on whether to invest in a buy to let property. Eleanor Burroughs, Partner in the residential property team at Tees, outlines here some of the risks and benefits along with some key legal considerations.

What is a Buy to Let property?

Generally, Buy to Let refers to property which has been bought solely as an investment for letting to tenants whether that is single families or a group of students, but that is not always the case.

Sometimes a buyer may become a landlord by default, for example, they want to purchase the property for themselves to live in at a future date but must let it out in the meantime.

What are the benefits of a Buy to Let?

Landlords generally look for two things, capital growth and rental yield. In some areas of the country one of these may outperform the other so it is important you decide what you are looking for in terms of either a regular income or long-term gain and chose a property accordingly.

For some, being a professional landlord is their job and all their income derives from what they make on their rental properties, others may have just one property which they may have purchased as a pension for the future. Whatever your situation it is important you do your homework thoroughly before taking the plunge.

What are the risks in buying to

What are the risks in buying to let?

As with any investment, buying property does not come without risk and is not something you should engage in on a short-term basis as property prices go down as well as up.

You need to ensure you have enough capital behind you to pay for repairs to the property as and when they are needed
Ensure you can meet your obligations in void periods -when a property is empty
As well as loss of rent, keep in mind that you will still have to pay any mortgage costs
You must also pay council tax and utility charges in the absence of tennants

This is not always easy if the property is empty for some time. There are also the risks of tenants not paying the rent or causing damage and legal action being needed to gain possession.

You also need to be available to carry out repairs to the property. If that isn’t possible for you then you need to factor in the cost of employing someone to manage the property and for professionals to carry out repairs. These costs can quickly erode profit if your margins are tight.

What property should I buy?

The important thing is to take your time in deciding what is right for you and what is right for your potential tenants. Being a landlord is a business decision and you need to approach it that way.

You need to think about the type of tenant that would be attracted to the location and how adaptable the property is to the needs of the tenant group you are looking to attract.

There is no point buying a student let miles from a university or aiming to attract families with a one bedroom flat on the top floor of a tower block.

If you want something lower maintenance, a new build property or a flat in a professionally maintained block may be the answer.

Are there restrictions on the type of property I can let?

In order that you can let a property it must meet certain energy performance ratings. There are certain exceptions, but they are few and far between. For most properties, you can only let where the energy rating is E or higher.

If you are thinking of buying a leasehold property it is important that the terms of the lease are checked carefully to ensure there is no restrictions on lettings. Even if the lease does allow lettings to take place the landlord may have restrictions on the length of the term and is likely to require notice of this which may involve you paying a fee each time a new tenancy is agreed.

It is vital that you tell your solicitor of your intentions so as they can make sure everything is in order.

What are my legal obligations as a landlord?

There are many and they change regularly which is why a lot of buy to let landlords choose to use the services of a professional letting agent to manage the property for them and keep them updated of any changes.

If you don’t, then you need to ensure that you not only know the legal implications of letting when you first let the property but that you continue to stay abreast of changes throughout the entire letting period.

Amongst other things, you must ensure that the gas and electric are safe to use and that the property is well maintained. Additionally, you must ensure that your tenant has a right to rent and that any deposit provided by the tenant is properly protected and held in a government-approved scheme

Letting to students or letting a house in multiple occupation (HMO) requires licencing and there are more stringent controls on letting. Some local authorities now require you to have a licence even if letting to a single household.

What if I fail to comply with my obligations as a landlord?

This will depend on the type of breach, but failing to comply with your obligations can result in financial penalties and in the worst case a prison sentence so it’s important to seek the right advice and get it right!

Do I need a different type of mortgage for a Buy to Let?

The answer to this is yes. The fees and interest rates on buy to let mortgages tend to be higher than for a standard mortgage. You will need to advise the lender if you intend to let to students or on an HMO basis.

You can obtain interest only loans on buy to let as lenders will accept that the capital can be repaid on the sale of the property. Do remember if prices fall and the sale price does not cover the loan, you will have to make up the difference.

You will also generally need a higher deposit and your lender will want to ensure that the rental income you are likely to obtain will cover at least 125% of the mortgage costs. If the property is being bought by a company the legal costs for dealing with the mortgage are also likely to be higher. Buy to Let mortgages require properties to be let on an Assured Shorthold Tenancy basis.

Are the costs of buying to let higher than for buying my main home?

When you are buying a property for the purposes of letting it out there are tax implications you need to be aware of. Firstly, you will generally have to pay a stamp duty land tax surcharge of an extra 3% on the entire purchase price. Stamp Duty Land Tax is a complicated area but we can guide you to the right advice. Your rental income must also be declared in your annual tax return and there are capital gains tax implications when you come to sell if you have made a profit.

If you have chosen to set up a company to own the rental property, there are different tax considerations to consider. The rules around reporting and paying capital gains tax have recently changed and the timeframe is now limited to 30 days from completion of the sale.

How to protect your property from fraud

Posted on 9 June 202027 March 2025 by Sarah O'Sullivan

Property fraud is on the increase and fraud methods change all the time. You should look out for anything that seems unusual or suspicious, as usually there will be more than one sign that fraud is being committed.

What are the types of property fraud?

Identity theft and impersonation

Criminals may impersonate anyone involved in a property transaction, including owners, buyers, borrowers, lenders or conveyancers.

One of the ways that property fraud can occur is where a fraudster has used forged documents to claim they are the owner of a property. They then apply for mortgages against that property and the mortgage is registered against the title to the property at the Land Registry. The fraudster then pockets the proceeds of the mortgage and disappears leaving the owner of the property with a debt they know nothing about until the lender claims they have defaulted on the mortgage.

If a property already has a mortgage secured against it, then the consent of the original lender is required before additional borrowing can be completed which makes any fraud harder to undertake.

If you do not have a mortgage or do not live at the property and therefore do not receive any notices or letters that are sent there, you can protect yourself in several ways.

We would recommend that you make sure that you notify the Land Registry of any change of address you may have so that they have up to date records of where to write to you. You can have up to three addresses listed including an email address, so if you travel frequently you will be able to choose the most appropriate addresses for you.

It is possible to register a restriction on your legal title. This requires the consent of a third party before a mortgage can be completed and registered against the title to your property. You can apply for a restriction if you live in the property but you have to pay a fee. If you don’t live in the property but own it privately, it is free.

Buyers

Criminals may use false ID to pretend to be a buyer and make an offer, then withdraw before exchanging. They can then use the information they’ve learned during the process to commit title fraud on the owner of the property. They may also continue with the transaction and steal any money raised from the lender.

Sellers

Criminals may attempt to sell or mortgage a property by impersonating an owner using false or stolen ID.

Criminals often target:

sole owners, especially of unmortgaged properties
owners who have died
owners living overseas
absent owners, especially landlords
owners who are in a hospital or care home
owners who have built up equity in their property

Conveyancers

A criminal may pretend to be a conveyancer or to act for an authorised firm of conveyancers. You should check the details of the conveyancer acting for the other party to make sure they’re correctly registered.

Lenders

Criminals may submit forged discharges – a formal recognition that a mortgage has been paid off.

Be wary if the source of the discharge is not a lender regulated by the Financial Conduct Authority, or where the lender itself does not give you the discharge.

Am I at risk of property fraud?

Anyone who owns or is in the process of buying a home could potentially be targeted by scams, but some homeowners are more at risk than others.

If your property is empty or rented out, it is more vulnerable to fraud. Properties that aren’t mortgaged are seen as more high risk, as are those that are not registered with the Land Registry.

Properties most likely to be unregistered are those that haven’t been mortgaged or sold since 1990.

What can I do if I think I’m at risk?

The first thing you should do is to sign up to the Land Registry Property Alert service.

Alerts are sent to you via email when official searches and applications are received against the property you want monitored.

If someone tries to make changes to a property you have registered – such as applying to change the registered owner of your property – a notification is sent to you via email.

It won’t automatically block any changes to the register but it will tell you what is happening so you can take appropriate action if necessary.

It’s a good service for landlords too, as you can monitor up to ten properties at one time free of charge.

More than one person can monitor a property at the same time, which is useful if you and your siblings are looking after a property for parents in care.

Ensuring your protection during a property transaction

As professional property conveyancing solicitors, we actively engage with our clients to ensure that your data and monies are well protected. We insist that your bank details are only sent by post and will alert you to potential scams such as ignoring emails or phone calls that claim last minute changes of bank account details.

We would also advise:

Do not send your bank details by email to anyone, either phone them through or take them into their office – if this is possible
Choose your conveyancing solicitor carefully. Tees (incorporated under the name Stanley Tee LLP) is registered with the Law Society and the Council for Licensed Conveyancers
Read anything sent to you by your conveyancing solicitor very carefully. We provide our clients with our bank details at the outset, by post and we stress that those details will not change
If you are being pushed to proceed very quickly, be careful. Fraudsters often use this tactic so that emails are used and corners are cut

As simple and stress free as possible

Whether you’re buying your first house or expanding your buy-to-let portfolio, we keep in touch regularly and try to keep the process as simple and stress-free as possible.

Our property solicitors are members of the Law Society’s Conveyancing quality scheme. When you’re ready to make your move, call us to get a conveyancing quote.

How to succeed at property auctions: Expert tips for buyers

Posted on 8 June 202027 March 2025 by Sarah O'Sullivan

So you have seen an auction advertised in your local paper and as you have nothing else to do with your time you decide to go along and have a look to see what is available.

You don’t need a solicitor before the auction – or do you?

Well the answer to that is an emphatic “yes”. You should ensure that you do all of your research before going to the auction as, in the event of you bidding successfully, contracts are exchanged when the gavel goes down and you will have a contract which binds you to purchase the property on the date specified in the contract.

What is more, you should make sure that all of the searches and surveys are carried out before contracts are exchanged, just as you would if you were going to purchase a property in the usual way (which is known as by Private Treaty).

A purchase by auction should not be viewed any differently.

How do I start the process of buying at auction?

After seeing the advert you should get a copy of the catalogue. Most of these are now available online. You should then consider which particular properties you might be interested in.

The catalogue will show a guide price for the property. This is not the price for which the property will actually be sold but the agents guide of their estimate of the price the property may achieve. The property may sell for significantly more than that although it may also sell for less. Do not however make the mistake of believing that you will be able to pick up a bargain.

Properties do on occasion go for significantly higher than the guide price. It only takes a number of people to be bidding for the property to go significantly higher than anyone thought possible. The seller may well have set a reserve on the property which means that the property cannot be sold at the auction for anything below that figure.

What about a survey?

When you have selected properties that you would like to look at then you should arrange to visit them if at all possible and you should also arrange for a proper survey of the property to be conducted by an appropriately qualified surveyor. The surveyor will be able to advise you about the state and condition of the property ensuring that it is structurally sound and also advising on any work that may need to be carried out. This will enable you to obtain quotes if necessary as you do need to go into the auction with all of the relevant costings available.

What will my solicitor do?

The catalogue will show that a legal pack is available and that is what the solicitor needs to look at. This should contain copies of the title deeds to the property and any searches that the seller’s solicitor may have completed. Most catalogues should be available several weeks before the actual auction and you should give your solicitor as much time as possible to check through the documents for you.

Properties which are going to auction often have some form of problem with them. This can be either a legal problem or structural one. Your solicitor will check any legal issues for you and will ensure that there are no problems evident in the title deeds or searches.

Common problems include:

Issues with rights of way or rights for services to be connected
Boundary issues
Missing or inaccurate title deeds
Planning restrictions

Regarding the last point, if the property is being sold with planning then the contents of the planning documents should be checked carefully to make sure that there are no hidden concerns.

You may find that you have to carry out further investigations in relation to such matters as contamination on the site particularly if you are going to convert something to residential use. Make sure that you give yourself enough time to carry these out. “Marry in haste repent at leisure” applies equally to this situation.

Financial considerations

Before attending the auction you must make sure that you have enough money to complete on any purchase. Remember that as well as the amount that you bid for the property the auction house will add a percentage as their fee. You should also take into account any stamp duty that you have to pay and the land registry fee that you will have to pay to register you as the owner of the property if you are successful.

The cost of any searches that have been provided by the seller is often added to the price that you will have to pay and on occasion, the seller also makes it a term of the auction that their solicitor cost have to be paid by the buyer.

Offers in advance of the auction

If you are particularly keen on the property then you may well be able to make an offer before the actual auction. If that offer is successful then the seller is likely to require that you exchange contracts in the conventional way before the auction takes place at which point they will withdraw it from the actual auction.

Auction day – what happens when the day arrives?

Once at the auction try not to get carried away with the excitement of the situation. It is vital that you set a limit on the amount that you can pay for the property. Do not bid more for the property than you can afford or that it is worth to you. This may sound obvious, but it is all too easy to get caught up in the moment and get carried away.

The auction house will ask you to provide them with proof of funds and ID before issuing you with a number which is used to identify you when are bidding. This is required to comply with the Money Laundering Regulations so make sure that you take these with you or you will not be able to bid.

It is possible to bid in a number of different ways. You can bid on the telephone, the internet or via a proxy bid. You will need to comply with the Money Laundering Regulations whichever method you use to make your bid.

Success! Now what happens?

If you are successful you will have to pay the deposit there and then and the bringing down of the gavel signifies exchange. You cannot refuse to complete the transaction on the basis that you find something out after the auction that you should have known before.

The completion date will be set in accordance with the conditions set out at the back of the catalogue and will usually be 20 working days after the auction although this time frame may vary.

If the property is not sold at the auction it may still be possible for you to purchase it as the agents tend to approach any underbidders to see if they would be interested. You will often see agents in a huddle after the auction trying to secure a deal if the highest price offered is very close to the reserve that was set.

Remember auctions can be a very stressful environment but can also be a great deal of fun. Also remember to consult your solicitor as early in the process as possible to make sure that you know all the ins and outs of the property that you want to bid for.

Fast and efficient service

Our Residential property solicitors are members of the Law Society’s Conveyancing quality scheme and experts in dealing with transactions involving property purchased at auction.

We understand that speed of service is an important factor when buying at auction and will take care of all the legal formalities as quickly and efficiently as possible right through to completion.

Three new female partners tip the balance at Tees

Posted on 1 April 202030 March 2025 by Sarah O'Sullivan

Three new female partners have swelled the senior ranks at Tees Law, a Top 200 law firm with offices in Bishop’s Stortford, Brentwood, Cambridge, Chelmsford, Royston, and Saffron Walden. Letty Glaister, Eleanor Burroughs, and Kay Piper’s promotions to the partnership mean that female lawyers now comprise the majority of the firm’s partners. In a profession where women typically occupy less than a third of partnership roles, Tees is leading the way in supporting female lawyers to access senior positions and progress in their careers.

Commitment to diversity and equality

Tees’ head of HR, Amy O’Brien, commented: “Tees encourages and values diversity and is committed to equality for its entire staff. Fifty-three percent of partners at Tees are women, and having such a balanced split works really well for us. Each partner, be they male or female, brings different strengths and qualities to the team and contributes to driving the company forward. These principles of equality of opportunity and non-discrimination also extend to the manner in which our employees interact with our clients, our business partners, and our visitors.”

Kay Piper’s vision for commercial property

Kay Piper is head of Tees’ commercial property department in the Bishop’s Stortford office. Speaking of her appointment, Kay says: “I am looking forward to increasing the team’s presence and connections within the community, reaching out to build local awareness of Tees’ expertise in commercial property matters. I am also very keen to further develop a collaborative team within Tees, ensuring that we work together to deliver a joined-up service for our clients. Whilst the entire Tees team is currently working from home, we’re still working hard to keep connected with our clients and to each other. We’re actually finding that we’re communicating more than ever.”

Letty Glaister’s rural community focus

Letty Glaister, who heads up the Royston office, hopes to further strengthen her relationships within the rural community and cement Tees as the law firm of choice for farming clients throughout Hertfordshire and Essex. “It’s really important that our clients trust us implicitly, and that can only be achieved by making a real effort to strengthen our links with the surrounding community, especially during these difficult times when many rural families are feeling concerned and isolated due to social distancing measures,” she says. “Particularly in the rural world, maintaining close relationships is vital as we are dealing with farms that have been in families for generations, meaning that emotions can run high for all concerned.”

Eleanor Burroughs’ commitment to Saffron Walden

Eleanor Burroughs, who has been working at Tees’ Saffron Walden office for 11 years, heads up its residential property department. In addition to her partnership promotion, she has also been promoted to head of the Saffron Walden office, effective from April. Going forward as a partner, Eleanor says she is “looking forward to maintaining the close links we have worked so hard to build up with the local community, and to building the Tees brand.”

A message from the group managing director

Ashton Hunt, group managing director at Tees, is delighted by the three new partners’ success: “At Tees, we have always been assiduous in ensuring our female solicitors are supported in progression to senior roles. Letty, Eleanor, and Kay have all consistently demonstrated their excellence in their fields and commitment to our firm during their time here. Whilst leading their teams remotely during these challenging times, they continue to deliver a consistently excellent service to their clients. Their promotion to partner is thoroughly well deserved.”

Can I occupy my new house before the completion date?

Posted on 14 March 201727 March 2025 by Sarah O'Sullivan

In most residential conveyancing transactions, the buyer will not expect to take up occupation of the property they are is buying until the legal completion date. There are however instances when the buyer and seller may agree to the buyer occupying the property before the completion date. This might occur where a buyer has already exchanged contracts on his existing property and is then unable to synchronise the sale and purchase completion dates. Alternatively, where a buyer is living in rented accommodation and his tenancy is due to expire before he is able to complete the purchase.

Licence to occupy

If the buyer and seller agree to the buyer entering into occupation of the property before the completion date, usually the parties will agree basic terms and then look to their respective solicitors to implement these terms. The advice given by a solicitor will invariably differ depending on whether the solicitor is advising a buyer or seller, however, the starting point will almost certainly be the Law Society’s Standard Conditions of Sale (5th Edition). Most residential conveyancing transactions proceed in accordance with the latest standard Conditions of Sale. Standard Condition 5.2 provides that where the seller agrees to the buyer entering into occupation of the property before the completion date, the buyer is considered to be a Licensee and not a Tenant. The main terms of the Licence are set out in the Standard Conditions.

What are the risks of early occupation before completion date?

There are a number of risks which both parties should be aware of:

the buyer’s occupation may invalidate the seller’s buildings insurance policy and therefore compromise the seller’s ability to make a claim under the policy in the event of any damage caused to the property during the buyer’s occupation, whether or not the damage was actually caused by the buyer.
the buyer’s occupation is likely to breach the seller’s mortgage conditions unless the lender’s prior consent is obtained. This is unlikely to affect a seller who has an existing buy to let mortgage product.
if the buyer fails to vacate the property or generally to abide by the terms of the agreed Licence, the seller will still need to obtain a Court Order in order to recover possession of the property. This could be expensive and significantly delay the actual completion date causing serious legal and financial implications, particularly if there is a long chain.
as far as a buyer is concerned, early occupation of the property may be treated by HMRC as “substantial completion” for stamp duty land tax purposes and therefore stamp duty land tax may be payable from the point of occupation as opposed to the actual completion date.
furthermore, the buyer’s occupation is not guaranteed until the completion date. The Standard Conditions provide that the buyer’s Licence may be terminated upon the seller giving five working days notice to the buyer. Where the parties have agreed a long completion date and the seller decides to terminate the Licence before completion, this may force the buyer into finding alternative temporary accommodation and incurring additional storage and other costs pending the completion date.

Licence to occupy before completion

In view of these potential risks, it is advisable that both parties avoid early occupation. Individual circumstances do not of course always permit this, particularly where there is pressure in a chain to exchange contracts or a requirement to complete within a specific time frame or on a particular date. If early occupation is required, it should be under the terms of a Licence with the parties considering any necessary variations to the Licence terms under the Standard Conditions in order to meet their respective requirements.

What is a remortgage?

Posted on 14 March 201727 March 2025 by Sarah O'Sullivan

Our residential property and conveyancing solicitors explain the process of remortgaging your property.

What is a remortgage?

A remortgage is when you change mortgage lender by paying off one mortgage lender with the proceeds from a new mortgage, normally secured against the same property. They are often arranged to take advantage of mortgage terms more suitable to your current needs.

Why do you need to instruct a solicitor to remortgage a house?

Lenders need to instruct solicitors in order to ensure that their mortgage conditions are satisfied and that the security provided by your home is suitable for the new mortgage. Solicitors will also need to attend to the redemption of the existing mortgage and registration of the new mortgage at the Land Registry. At Tees we have a specialist team of experienced property lawyers who are members of the Law Society’s Conveyancing quality scheme. We will ensure that your remortgage is processed as quickly as possible so that you can start to enjoy the benefits of your new mortgage.

Is Stamp Duty Land Tax payable when I remortgage?

No. Stamp Duty Land Tax is not payable unless there is a need to transfer the legal title of your home as part of the remortgage transaction.

Can I remortgage even if I have a second mortgage on my property?

If the second mortgage is not repaid at the same time as the first mortgage, the second mortgage lender will normally need to agree to the new mortgage and the mortgage lenders will then need to agree whose mortgage has priority.

What happens upon completion?

On the day of completion, we will receive the mortgage advance from your new lender. We will then pay off your existing mortgage and forward to you any surplus funds due to you.

How do I receive any surplus funds on completion?

We will send any surplus funds due to you on completion by direct bank transfer or cheque, whichever you prefer.

If you are looking to remortgage your property, please do not hesitate to get in touch.

Residential market improves as demand and mortgage rates align

Posted on 16 October 020225 March 2025 by Sarah O'Sullivan

Improving conditions in the residential market

According to Savills, activity in the residential property market is picking up as house prices continue to show modest growth.

In August, mortgage approvals were only 3% below pre-pandemic levels. In September, sales agreed and new instructions were 8% and 9% above their respective 2017-2019 averages, highlighting that supply and demand are growing together.

The boost in market activity coincides with a fall in mortgage rates – in August 2023, the average rate for a two-year fixed mortgage with a 75% loan to value (LTV) was 6.2%. In August 2024, this lowered to 4.8%.

Although conditions are improving, house price growth is expected to be limited due to the increased cost of living over recent years. Plus, general market growth will depend on Autumn Budget announcements and any potential reductions to Bank Rate and inflation.

Rental market update

The latest report from Zoopla has highlighted that rental inflation is slowing but tenant demand remains high.

Over the last year, rents have risen by 5.4%; while this is a significant increase, it is the slowest pace of growth in three years. Rental inflation is not slowing at the same pace as household inflation and earnings because tenant demand continues to outweigh the supply of rental properties. There are currently 25% fewer rental homes available than in 2019. This is partly due to landlords deciding to sell—a trend that could continue depending on what tax changes the Labour government may have in store.

September data shows that the average rent for new UK lets was £1,245 per month, but the cost varies significantly from region to region. According to Rightmove, the cheapest UK city for renters is Carlisle, whose average rent is £791 – 41% below the national average. Following closely behind is Hull (£804), Sunderland (£807) and Stoke-on-Trent (£863).

UK Finance’s recommendations for the Autumn Budget

UK Finance has made a series of recommendations to the Labour Party ahead of the Autumn Budget.

The trade association has suggested that the government introduce a Stamp Duty rebate scheme to motivate homeowners to upgrade their homes’ energy efficiency. The body also recommended that Stamp Duty bands be raised annually to correlate with increases in the average house price.

The Stamp Duty threshold for first-time buyers is set to be reduced in March 2025, meaning the tax will be payable when purchasing a property worth £300,000 or more. But UK Finance has urged the Labour Party to keep the threshold at the current higher limit of £425,000.

Chief Executive of UK Finance, David Postings, commented, “We have called on the government to not only introduce measures to bolster growth, but also a range of ideas to help support households and businesses up and down the country.”

It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.

All details are correct at the time of writing (16 October 2024)

The day of completion is the final step in the house buying and selling process. It is the pre-arranged date when the financial and legal formalities are concluded, and the ownership of the property is transferred from the seller to the buyer.

On the day of completion, the following steps typically take place:

Answers to common questions about the day of completion day:

What do conveyancing solicitors check on completion day?

What can go wrong on completion day?

What time do you normally get the keys on completion day?

Should I call my solicitor on completion day?

Many buildings in England that were built before the Victorian era, are listed buildings, so it’s not that unusual to find yourself considering buying one. Before you take the plunge, read our guide covering what you need to know about owning a listed building.

Listed buildings are protected by law

What is a Listed Building?

Buying a Listed Building – a checklist of what to do

What does the local conservation officer do?

Planning a listed building renovation

Modifying a listed building

Older buildings can be in poor condition

Listed building insurance

Should I buy a listed building?

Tees celebrates double success at Cambridgeshire Law Society Excellence Awards

Celebrating legal excellence

Excellence in technology and innovation award

Residential property team of the year award

Highly commended injury litigation team

Rising star recognition

Reflections from the group managing director

For over three decades, Tees has provided expert legal services to multiple generations of the Miller* family, a prominent agricultural family with extensive farming, land and property interests located across several English counties.

Passing assets on to the next generation

Taking advantage of Inheritance Tax (IHT) relief

Strategic land and property solutions

A full- service firm rural families can depend on

What is a leasehold property?

What is a lease?

Why does the length of my lease matter?

What is lease extension?

How do I extend my lease?

What is involved in buying the freehold? Is this better than lease extension?

There’s a lot to consider when deciding on whether to invest in a buy to let property. Eleanor Burroughs, Partner in the residential property team at Tees, outlines here some of the risks and benefits along with some key legal considerations.

What is a Buy to Let property?

What are the benefits of a Buy to Let?

What are the risks in buying to let?

What property should I buy?

Are there restrictions on the type of property I can let?

What are my legal obligations as a landlord?

What if I fail to comply with my obligations as a landlord?

Do I need a different type of mortgage for a Buy to Let?

Are the costs of buying to let higher than for buying my main home?

We’re here to help

Property fraud is on the increase and fraud methods change all the time. You should look out for anything that seems unusual or suspicious, as usually there will be more than one sign that fraud is being committed.

What are the types of property fraud?

Identity theft and impersonation

Buyers

Sellers

Conveyancers

Lenders

Am I at risk of property fraud?

What can I do if I think I’m at risk?

Ensuring your protection during a property transaction

As simple and stress free as possible

So you have seen an auction advertised in your local paper and as you have nothing else to do with your time you decide to go along and have a look to see what is available.

You don’t need a solicitor before the auction – or do you?

How do I start the process of buying at auction?

What about a survey?

What will my solicitor do?

Financial considerations

Offers in advance of the auction

Auction day – what happens when the day arrives?

Success! Now what happens?

Fast and efficient service

Commitment to diversity and equality

Kay Piper’s vision for commercial property

Letty Glaister’s rural community focus

Eleanor Burroughs’ commitment to Saffron Walden

A message from the group managing director

Licence to occupy

What are the risks of early occupation before completion date?

Licence to occupy before completion

Our residential property and conveyancing solicitors explain the process of remortgaging your property.

What is a remortgage?

Why do you need to instruct a solicitor to remortgage a house?

Is Stamp Duty Land Tax payable when I remortgage?

Can I remortgage even if I have a second mortgage on my property?