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Moving To The UK?

Posted by on Aug 3, 2017 in Uncategorized | Comments Off on Moving To The UK?

There can be a variety of reasons for you to move into the UK and when you need advice about international property, you need kobaltlaw.co.uk. It could be down to finally landing a dream job in the country, or it may be down to just wanting a fresh start in one of the world’s top countries. Whatever the reason, there are certain things you should be aware of before moving to the country – and knowing how to find the right property is certainly one of these things.

Read the Contract – Whether Buying or RentingFinancial Advice 2

This is one of the most important aspects to be aware of when you are moving to the UK. Whether buying or renting your new property, you need to be particularly careful about the fine print. As an example, if you’re about to rent a property, there can be a number of clauses put into the contract (the ‘Tenancy Agreement’) that can be potentially very detrimental to you as the tenant. Depending on the type of landlord you’re dealing with, the clauses can be either quite straight forward or they can be designed so that, in certain circumstances, you’ll have unexpected fines imposed on you. Therefore, if you are unsure what these clauses mean you may want to contact property lawyers like kobaltlaw.co.uk or, specifically in the case of buying property, conveyancing solicitors, to read over the contract for you and make sure that everything is correctly in place and without imbalance in favour of the landlord/seller. This will make sure that you aren’t hurt further down the line and it makes sure that your time in your home in the UK can be enjoyed without any doubts your rights in future.

Check Your Meters

The vast majority of homes in the UK are fitted with a meter for your gas and electricity, and it is vitally important that when you first move into your home you read the meter and make sure that it is up-to-date. If this isn’t done, you may be stuck with the bill from the previous tenant/owner of the home as the home would’ve been passed over into your name. You should therefore try to contact the supplier and make sure you’re clear from your side of things.

Make Sure You’re Clear On the Legal Front

It is important to know about the different visa tiers that are in the UK. Since 2013 the tier system has become the way for how the government decides how migrants coming to the UK are classified, and this can be the deciding factor for a number of banks to give you a mortgage for your home. For instance, if you are given a tier 1 visa then this would mean that you work in a desirable profession (as classed by the government) which would mean it would be fairly easy to gain a mortgage. However, if you have a tier 4 visa it may be harder to land a mortgage straight away and you may need to look to renting a home until you have spent sufficient time in the country.

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Tips for Moving Your Business

Posted by on Aug 3, 2017 in Uncategorized | Comments Off on Tips for Moving Your Business

 

A growing property market is generally a strong indicator that the UK economy is heading in the right direction. What’s good news for investors, however, may not necessarily be ideal for small business owners. When falling vacancy rates and strong returns hit the headlines, it shows that it’s no longer a buyer’s market – which means small businesses are faced with even greater challenges when it’s time to relocate. If you decide to go abroad, advice from kobaltlaw.co.uk can be invaluable.

Here are some of the key issues entrepreneurs and startups need to consider when sourcing and choosing a new property…

Keep your business goals at the forefront…Kingston bookkeeping jobs 1

When a business needs to relocate, it’s usually for one of two reasons: either a current lease or licence has expired with no viable option to extend, or else expansion means the business has – or is about to outgrow the current premises. In either case, choice of new premises cannot be separated from the organisation’s overall strategy.

Do not leave this until the last minute – otherwise there is a risk of ‘settling’ for an option that fails to tick all the right boxes. Especially if the premises are going to be used for industrial or specialist commercial purposes, careful thought has to be given to the exact specifications. Remember that floor area is only part of the story: the precise layout of that floor space determines whether you are going to be able to use the premises in the way your business requires. For instance, are you looking for a mixed office/warehouse facility? Your growth predictions may indicate a requirement for 50% increased storage capacity – but do you really require the same increase in office space? Rarely is it as simple as simply multiplying your existing floor space in line with your growth predictions.

If you are looking solely for office space, avoid the temptation to look for the most fashionable address you can afford – just for the sake of it. Remember that kudos only counts if your customers actually care about where you are based. If your online sales are predicted to grow exponentially but footfall is virtually non-existent, do you really need to be based in the city centre? Conversely, if your business involves face-to-face contact with clients, how are those clients going to react to having to travel to an out of town Business Park to see you?

Affordability: more than just the purchase price

On top of lease or mortgage repayments, allowance also has to be made for a range of other necessary outgoings – including insurance, service charges, utilities and maintenance. Business rates are a particular sore point for many small businesses. Rate bills are currently based on 2008 property values (i.e. the peak of the market). There is currently a huge backlog of applications from businesses looking to appeal their tax bill and the level of repayments is expected to cost the Government £4.2 billion. Don’t forget to factor in costs, and also if you decide to go abroad you can get advice on this with kobaltlaw.co.uk.

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Moving To The UK?

Posted by on Aug 3, 2017 in Uncategorized | Comments Off on Moving To The UK?

 

There can be a variety of reasons for you to move into the UK and when you need advice about international property, you need kobaltlaw.co.uk. It could be down to finally landing a dream job in the country, or it may be down to just wanting a fresh start in one of the world’s top countries. Whatever the reason, there are certain things you should be aware of before moving to the country – and knowing how to find the right property is certainly one of these things.

Read the Contract – Whether Buying or Renting3

This is one of the most important aspects to be aware of when you are moving to the UK. Whether buying or renting your new property, you need to be particularly careful about the fine print. As an example, if you’re about to rent a property, there can be a number of clauses put into the contract (the ‘Tenancy Agreement’) that can be potentially very detrimental to you as the tenant. Depending on the type of landlord you’re dealing with, the clauses can be either quite straight forward or they can be designed so that, in certain circumstances, you’ll have unexpected fines imposed on you. Therefore, if you are unsure what these clauses mean you may want to contact property lawyers like kobaltlaw.co.uk or, specifically in the case of buying property, conveyancing solicitors, to read over the contract for you and make sure that everything is correctly in place and without imbalance in favour of the landlord/seller. This will make sure that you aren’t hurt further down the line and it makes sure that your time in your home in the UK can be enjoyed without any doubts your rights in future.

Check Your Meters

The vast majority of homes in the UK are fitted with a meter for your gas and electricity, and it is vitally important that when you first move into your home you read the meter and make sure that it is up-to-date. If this isn’t done, you may be stuck with the bill from the previous tenant/owner of the home as the home would’ve been passed over into your name. You should therefore try to contact the supplier and make sure you’re clear from your side of things.

Make Sure You’re Clear On the Legal Front

It is important to know about the different visa tiers that are in the UK. Since 2013 the tier system has become the way for how the government decides how migrants coming to the UK are classified, and this can be the deciding factor for a number of banks to give you a mortgage for your home. For instance, if you are given a tier 1 visa then this would mean that you work in a desirable profession (as classed by the government) which would mean it would be fairly easy to gain a mortgage. However, if you have a tier 4 visa it may be harder to land a mortgage straight away and you may need to look to renting a home until you have spent sufficient time in the country.

Read More

Reasons For Conveyancing Delays

Posted by on Jul 17, 2017 in Uncategorized | Comments Off on Reasons For Conveyancing Delays

When buying a home, there are a million and one variables that could cause the process to pause, even abroad, and you could find yourself in a lengthier process than you ever imagined. Consulting with kobaltlaw.co.uk can help. However, there are a few pitfalls that you could easily avoid in order to speed up the process.

Thankfully we’ve compiled a few of the most common causes for delays in the conveyancing process so that you can keep moving forward.

Delays in the Conveyancing Process

These delays are rarely to do with the actual conveyancer or estate agent and are typically caused by problems further down the property chain. There are however a few things you can do to ensure minimal impact should the situation occur.

1.       Instruct your solicitor as soon as your house if placed on the market or an offer is madez_business_pic-21_Fotor

The moment you put a property on the market, or somebody places an offer on yours, you should inform your estate agent who your property solicitor is so they can be contacted. In this respect, it’s important to hire a conveyancing firm as early as possible during the process as this will ensure delays are avoided.

2.       Obtain a management pack

This applies mostly to leasehold properties as the solicitor will also have to have a copy of the ‘memorandum and articles of association’ in order to understand the accounts of the management company over the past three years.

If you are looking to purchase a leasehold property, then informing your solicitor immediately will allow them to obtain the necessary documents from the outset.

3.       Check the planning permission

Conveyancers are obligated to ensure that all planning permissions and building regulations are obtained when acting on behalf of a lender. In saying this, when there are no lenders involved in the transaction there is still a duty to ensure that any changes made to a property prior to the sale have been carried out correctly and have adhered to the relevant regulations. Make sure to get this checked early on in order to avoid and repercussions further down the line.

4.       Sign or return any required legal documents on time

A normal aspect of purchasing or selling a property is legal documentation and ensuring that all paperwork is signed and delivered on time is key to problem free processing.

5.       Be aware of longer mortgage affordability interviews

As of April 2014, new regulations were enforced in order to avoid lenders providing loans to those who are unable to afford repayments. It’s due to these changes that longer and tougher mortgage affordability tests have been implemented by lenders. When applying for your mortgage, be sure to allow plenty of time for both the interview itself and the final decision as a ‘yes’ is no longer guaranteed.

6.       Allow time for local authority searches

The local authority must run searches on the property and its land in order to determine a number of factors, such as who owns or is responsible for the road or sewers in the surrounding area, and whether there are any road-widening proposals in place. If you are buying abroad, kobaltlaw.co.uk can advise here.

While your solicitor will take care of this, it’s important to remember that local authorities often have to handle a high rate of requests and while many will return the searches within a few days, others may take up to eight weeks.

While the housing market can be a difficult place, we hope that these tips for avoiding any unnecessary delays will assist you in a smooth and problem free buying or selling process.

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Buying Abroad

Posted by on Jul 17, 2017 in Uncategorized | Comments Off on Buying Abroad

Whether you’re thinking of making a big move or simply shopping for a vacation home, owning a property in another country sounds delightfully adventurous and promising. However, the road to getting there can be full of confusion and legal and financial setbacks. To make sure that your buying experience is as stress-free as possible, here are some tips on purchasing property internationally.

Hire a lawyer.Deal. handshake of Business People

The best way to get started on your search for a home abroad is to hire independent legal counsel with kobaltlaw.co.uk in your destination country. This should be a lawyer or a legal firm that specialises in real estate law whom you have chosen independently (that is, without any association to whomever may be your real estate agent overseas). The importance of hiring someone who has explicit knowledge and experience with property law in his or her own country cannot be overstated, as these laws can differ greatly from the ones you may be familiar with in your own country. And though bilingual lawyers usually cost more, you will greatly benefit from receiving legal advice from someone who has the ability to translate to English.

Take time to research.

Buying property with kobaltlaw.co.uk in your home country would take a lengthy research process — you’d have to work with your bank to sort out how much property you can afford, scour the listings to see which areas offered the best value, and then contact a mortgage company to create a plan for financing the property. Buying internationally only adds more steps to this process, so it is important to begin with a clear idea of how much time it will take to find a property abroad and to go through all the paperwork — and stick to that timeline.

Be prepared to create a will

— in English, and in the language of your future destination. One of the major costs associated with owning property in many countries is the inheritance tax that you will be required to pay on that property. Sometimes, you can restrict the amount of tax that you will have to pay on that property by writing a will, but it must be in the dominant language of the country that you’ll purchase your property in — another good reason to have a bilingual property lawyer.

Be generous when creating your budget.

Even if you get a good price for your property abroad, you should still be prepared to pay more than an additional 10 percent of that cost in legal fees. You’ll also need to make sure that you have purchased an appropriate amount of insurance for your property. Even still, you’ll need to sort out whether it is financially more expedient for you to finance your property in the UK or abroad. And finally, watch out for potential pitfalls when it comes to currency exchange rates.

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Reasons For Conveyancing Delays

Posted by on Jul 17, 2017 in Uncategorized | Comments Off on Reasons For Conveyancing Delays

When buying a home, there are a million and one variables that could cause the process to pause, even abroad, and you could find yourself in a lengthier process than you ever imagined. Consulting with kobaltlaw.co.uk can help. However, there are a few pitfalls that you could easily avoid in order to speed up the process.

Thankfully we’ve compiled a few of the most common causes for delays in the conveyancing process so that you can keep moving forward.

Delays in the Conveyancing Process

These delays are rarely to do with the actual conveyancer or estate agent and are typically caused by problems further down the property chain. There are however a few things you can do to ensure minimal impact should the situation occur.

1.       Instruct your solicitor as soon as your house if placed on the market or an offer is made

The moment you put a property on the market, or somebody places an offer on yours, you should inform your estate agent who your property solicitor is so they can be contacted. In this respect, it’s important to hire a conveyancing firm as early as possible during the process as this will ensure delays are avoided.

2.       Obtain a management packpre pack administration advisers 2

This applies mostly to leasehold properties as the solicitor will also have to have a copy of the ‘memorandum and articles of association’ in order to understand the accounts of the management company over the past three years.

If you are looking to purchase a leasehold property, then informing your solicitor immediately will allow them to obtain the necessary documents from the outset.

3.       Check the planning permission

Conveyancers are obligated to ensure that all planning permissions and building regulations are obtained when acting on behalf of a lender. In saying this, when there are no lenders involved in the transaction there is still a duty to ensure that any changes made to a property prior to the sale have been carried out correctly and have adhered to the relevant regulations. Make sure to get this checked early on in order to avoid and repercussions further down the line.

4.       Sign or return any required legal documents on time

A normal aspect of purchasing or selling a property is legal documentation and ensuring that all paperwork is signed and delivered on time is key to problem free processing.

5.       Be aware of longer mortgage affordability interviews

As of April 2014, new regulations were enforced in order to avoid lenders providing loans to those who are unable to afford repayments. It’s due to these changes that longer and tougher mortgage affordability tests have been implemented by lenders. When applying for your mortgage, be sure to allow plenty of time for both the interview itself and the final decision as a ‘yes’ is no longer guaranteed.

6.       Allow time for local authority searches

The local authority must run searches on the property and its land in order to determine a number of factors, such as who owns or is responsible for the road or sewers in the surrounding area, and whether there are any road-widening proposals in place. If you are buying abroad, kobaltlaw.co.uk can advise here.

While your solicitor will take care of this, it’s important to remember that local authorities often have to handle a high rate of requests and while many will return the searches within a few days, others may take up to eight weeks.

While the housing market can be a difficult place, we hope that these tips for avoiding any unnecessary delays will assist you in a smooth and problem free buying or selling process.

Read More
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