Law
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Privacy Notice
July 26, 2018 12:16 pmPlease click on the link below to read Page Nelson’s Privacy Notice.
Link here: Privacy Notice
Page Nelson employs third party suppliers to provide services including utilising the services of a credit reference agency (https://www.transunion.co.uk/legal-information/bureau-privacy-notice).
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Help! Fraudsters Sold My House!
February 13, 2018 2:21 pmWe’ve sent this article to clients in the past, but we think it’s time for this issue to be given another airing.
A nightmare scenario – property owners find that their property has been sold without their knowledge. How can this happen, and what can you do to protect yourself from it?
Fraudsters try many different ways to profit from property or mortgage fraud, and may try to pose as owners of a property in order to sell that property to an unsuspecting buyer. They will then disappear with the sale proceeds leaving behind a very difficult situation for the property owner and the buyer. There are other similarly horrifying scenarios.
Solicitors, the Land Registry and mortgage lenders have in place extremely tight procedures to guard against property fraud, but there will always be a small number of cases where fraudsters are successful. Certain properties are more vulnerable to fraud, for example where the owners live away for long periods, or properties without a mortgage.
There are ways in which you can increase your protection against this sort of fraud and the government has produced a useful guide setting out the steps you should take at https://www.gov.uk/protect-land-property-from-fraud
A particularly useful service is the Land Registry’s Property Alerts’ scheme. You can sign up for up to ten properties, and you will then receive notifications if anyone tries to deal with the property at Land Registry. Further information is available here https://www.gov.uk/government/news/property-alert-service-proves-popular-in-the-fight-against-property-fraud
The Land Registry’s website sets out detailed accounts of property fraud, and will encourage most people to take some sort of action to protect themselves.
Land Registry also publishes a useful series of Public Guides, and Public Guide 2 available from the Land Registry’s website explains how to keep your address for service up to date.
If you would like to discuss any of these issues further please feel free to contact us, enquiries@pagenelson.co.uk or 01522 687500 -
Contributing to a property purchase? How to protect your investment!
September 15, 2017 3:31 pm
Contributing to a property purchase? How to protect your investment!If you are lending money to assist someone to buy a property you may wish to ensure that your contribution is protected. This can be done by setting up a Declaration of Trust.
Who can benefit from a Declaration of Trust?
Children buying a property where their parent has provided a deposit.
Couples or co-owners, i.e. friends or business partners buying a property where they have contributed unequally or expect to contribute unequally i.e. one will pay for improvements or all of the mortgage payments.
When you want to gift a share of your property but you do not want to or cannot easily change the legal title, for instance if you have a mortgage.
If you have an opportunity to purchase council property and someone else is providing the deposit.
How do they work?
Property is bought and registered with the Land Registry in the name of the legal owners however, a Declaration of Trust sets out the shares in which the property is actually owned. A Declaration of Trust can set out and reflect an individual’s financial contribution towards the purchase of a property so everyone who has contributed can get back what they put in, if the property is sold. It can agree that the party who puts in the deposit can get their money back. It can also detail other financial contributions such as interest on the amount lent and it can include provisions so that the mortgage payments and additional work done on the home can be recognised.
Further protection can be arranged by way of placing what is called a ‘restriction’ on the legal owners title, which ensures that your consent must be obtained in the event of any sale, re-mortgage or other disposition relating to land before it takes place.
It can reflect whether the contribution is a gift or whether you are investing in the property. If it is a gift then the Declaration of Trust can record the date of gift (which is useful for tax planning) and can record that the gift may be just to your son or daughter and not to their parent (which may be useful should the relationship break down). It could protect your contribution if your child’s relationship breaks down and may prevent costly disputes in those circumstances.
In summary a Declaration of Trust can:
Confirm ownership of a property.
Confirm the actual amount that you originally spent.
Reflect the owners wishes about how their contributions are repaid.
Prevent arguments when the property is sold.
If you would like to discuss a Declaration of Trust with us further then please feel free to contact us, phone 01522 687500 or email enquiries@pagenelson.co.uk
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Help! Fraudsters Sold My House!
March 10, 2017 3:11 pm
We’ve sent this article to clients in the past, but we think it’s time for this issue to be given another airing.A nightmare scenario – property owners find that their property has been sold without their knowledge. How can this happen, and what can you do to protect yourself from it?
Fraudsters try many different ways to profit from property or mortgage fraud, and may try to pose as owners of a property in order to sell that property to an unsuspecting buyer. They will then disappear with the sale proceeds leaving behind a very difficult situation for the property owner and the buyer. There are other similarly horrifying scenarios.
Solicitors, the Land Registry and mortgage lenders have in place extremely tight procedures to guard against property fraud, but there will always be a small number of cases where fraudsters are successful. Certain properties are more vulnerable to fraud, for example where the owners live away for long periods, or properties without a mortgage.
There are ways in which you can increase your protection against this sort of fraud and the government has produced a useful guide setting out the steps you should take at https://www.gov.uk/protect-land-property-from-fraud
A particularly useful service is the Land Registry’s Property Alerts’ scheme. You can sign up for up to ten properties, and you will then receive notifications if anyone tries to deal with the property at Land Registry. Further information is available here https://www.gov.uk/government/news/property-alert-service-proves-popular-in-the-fight-against-property-fraud
The Land Registry’s website sets out detailed accounts of property fraud, and will encourage most people to take some sort of action to protect themselves.
Land Registry also publishes a useful series of Public Guides, and Public Guide 2 available from the Land Registry’s website explains how to keep your address for service up to date.
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We are now a WIQS Accredited Member
July 1, 2016 2:15 pm
We are delighted to announce that we are now an accredited member of the Law Society’s Wills and Inheritance Quality Scheme (WIQS) This shows that we follow best practice procedures to meet the highest standards of technical expertise and client service in providing tailored wills and probate advice to consumers.
We will not pressure you into buying more complex advice that is not in your best interests.
Our dedicated wills and probate service is tailored to your needs. We will explain the process, options, costs and likely timescales.
We will keep you up to date using your preferred method of communication.
Accredited solicitors and other staff complete mandatory training on the WIQS standard and show compliance through annual re-accreditation and on-going enforcement checks by the Law Society.
Amanda Johnson, Director and Solicitor of Page Nelson said, “I am delighted that our hard work in building up the private client department at Page Nelson has been rewarded with this accreditation. We offer a trustworthy and cost effective service provided by qualified and experienced professionals. It is important that wills and legal advice on private client issues should be dealt with by a qualified solicitor.”
Read more about why you should choose Page Nelson as a WIQS accredited firm: www.lawsociety.org.uk/AboutWIQS
Check that we are WIQS accredited by searching for us on the Law Society’s Find a Solicitor Website: www.lawsociety.org.uk/findasolicitor
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Stamp Duty on Buy-to-Let Property
November 26, 2015 1:45 pmStamp Duty on Buy-to-Let PropertyAs you have probably heard by now, the Chancellor George Osborne has increased Stamp Duty on Buy-to-Let (BTL) property from 1 April 2016. The table below is from HM Revenue and Customs and sets out the impact this will have if you buy a BTL property from that date.
If you add in the loss of mortgage interest tax relief beginning in April 2017, then this means that landlords will need to look again at their figures carefully.
Commercial investors with more than 15 properties are expected to be exempt from the new Stamp Duty rules.
If you have any questions about how this will affect you, please give us a call on 01522 687500 or email us at enquiries@pagenelson.co.uk
Stamp Duty Rates (on purchases)
Property Value Standard rate Buy-to-let/second home rate (April 2016)
Up to £125,000 0% 3%
£125 – £250,000 2% 5%
£250 – £925,000 5% 8%
£925 – £1.5m 10% 13%
over £1.5m 12% 15%
Source: HMRC
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Average UK House Prices hit the £200,000.00 mark
July 29, 2015 1:07 pmAverage UK House Prices hit the £200,000.00 mark.
After uncertainty caused by the general election, average UK house prices have now beaten the last peak of £199,612.00 which we saw during the economic boom of August 2007.
The latest data from the Halifax revealed that the value of residential property in the UK rose for the fourth consecutive month by 1.7pc from May to June to £200,280.00 suggesting that buyers’ confidence has returned after the election. The figures for the first half of 2015 prior to the election reflected a slow overall housing market.
In addition, the Halifax figures suggest that increases are occurring across all regions, and are not limited to the usual property hotspots such as London and the south east.
Both the Halifax and Nationwide reports identify the fact that available housing stock is at record low levels. Martin Ellis, Halifax’s Chief Analyst says “economic growth, higher employment, increasing real earnings growth and very low mortgage rates are all supporting housing demand with signs of a recent modest pick-up in demand.”
Please feel free to contact us if you would like to discuss this matter further;
Telephone us on 01522 687500 or email enquiries@pagenelson.co.uk
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Landlord Alert
July 29, 2015 12:49 pm
Landlord Alert
Lincoln City Council is now registering an Article 4 Planning Direction as a Planning Charge on all of their Local Authority Search results.
This Direction relates to development comprising the change of use from a standard dwellinghouse which is within Class C3 of The Town & Country Planning (Use Classes) Order 1997 to the use of the dwelling to a house in multiple occupation which falls within Planning Use Class C4 of that Order, (known as a ‘HIMO’). The Direction removes permitted development rights for this type of development.
A copy of the Direction including a map defining the area covered by the Direction is available to download from Lincoln City Council’s website at www.lincoln.gov.uk/Article4.
If the Direction is confirmed it will mean that Planning Permission will be required for a change of use from a dwellinghouse to a house in multiple occupation from 1st March 2016. It will not be applied retrospectively and therefore properties currently operating as houses in multiple occupation will be exempt.
The Direction is registered as a Planning Charge prior to being confirmed to make property purchasers aware of the potential for Planning Permission to be required. For a property to be exempt as a house in multiple occupation it must be occupied as such prior to 1st March 2016. It is not sufficient to have completed conversion works or to have declared the property as a house in multiple occupation. Clearly this is particularly relevant to Landlords who may be unable to secure occupants for student properties for the 2015/2016 academic year.
The Council are requesting that Landlords declare existing houses in multiple occupation to ensure that they are aware of the existence of these properties prior to a decision being made regarding the Article 4 Direction. Properties which are used interchangeably as houses in multiple occupation and as family houses should also be declared even if they are currently occupied by families as this could be considered as materially relevant to the Local Authority in ultimately determining whether to grant Planning Permission if it was required.
Landlords seeking to declare a property should complete the houses in multiple occupation declaration form which is available from Lincoln City Council’s website at www.lincoln.gov.uk/HMO.
Please feel free to contact us if you would like to discuss this matter further;
Telephone us on 01522 687500 or email enquiries@pagenelson.co.uk
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Who will look after my pets when I die?
July 29, 2015 12:27 pmWho will look after my pets when I die?
For those of us who are animal lovers, this is an important issue to be raised when preparing our wills. Who will care for our pets when we are gone and, just as importantly, who will pay for their care? Whilst a goldfish may be easy and cheap to look after, a horse or several dogs and cats most certainly will be costly when taking into account food and vet bills.
Charities such as The Dogs Trust, Cinnamon Trust and RSPCA may be asked to take care of pets until a suitable home can be found and they may be given a donation of funds to cover the cost. Alternatively, friends or family may be asked to take on the responsibility and, again, funds can be provided either as a lump sum or to be held in trust to cover ongoing costs.
A gift may be left to a friend or family member with the condition that they take care of our beloved animals. It is always worth asking the person involved whether they would be prepared to take on this responsibility of course! There is no legally binding obligation and the person appointed may simply not be in a position to help, when the time comes. For instance, someone living in a rented property may not be allowed to keep a pet or a member of their household may suffer from allergies.
Whatever your wishes, your solicitor will always be able to suggest suitable wording in the will to put your mind at rest.
Please feel free to contact us if you would like to discuss this matter further;
Telephone us on 01522 687500 or email enquiries@pagenelson.co.uk
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Who will look after my children?
April 2, 2015 10:55 amWho will look after my children?
No one likes to think about what will happen to their children if they die or are unable to continue looking after them. However, it is an important question which should be tackled at the earliest possible time to make sure that arrangements are in place.
If you have children under the age of eighteen, you can make provision in your will for the appointment of a legal guardian in the event of the death of both parents, if you are or have been married or, if not, the death of yourself if you are the mother. If you do not do so, the court will decide who will look after them in the event of a dispute and your children may be placed in the care of the local authority pending a decision. The guardian can also be appointed to look after the financial assets left to your children until they are old enough to manage the funds themselves.
If you die without leaving a will, the law will govern who receives your assets. If you are married or in a civil partnership, your spouse or civil partner will receive your personal items and the first £250,000 of your estate as well as a life interest in half of the rest of your estate. Your children will therefore only receive the other half of the remainder at age 18 or upon marriage (if earlier) and the rest of the remainder after the death of your spouse/civil partner. This may not follow your wishes, particularly if you are separated from your spouse/civil partner. It is therefore essential to make a will to avoid this and also to leave any gift to stepchildren who have not been legally adopted. Similarly, if you marry, any will made prior to the marriage will be invalid.
Even when your children are grown up, you will still have concerns for their wellbeing. If you enter into a Lasting Power of Attorney appointing your children to look after your finances and/or personal welfare, your children will be able to make decisions for you, if you lose your mental capacity. This avoids the freezing of Bank accounts and the long, expensive process of applying to the Court of Protection to be appointed as a deputy.
It is therefore important that you make a will as soon as you have children and that you ensure that it is kept up to date following changes in your finances or family life. In later life, ensure that you have a Lasting Power of Attorney in place. Once these somewhat difficult issues have been tackled, you will have peace of mind knowing that you have secured the future of your children as much as possible.
Please feel free to contact us if you would like to discuss this matter further:
Telephone us on 01522 687500 or email enquiries@pagenelson.co.uk
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Does your conservatory comply with Regulations?
April 2, 2015 10:46 amDoes your conservatory comply with Regulations?
Many home owners will rely upon the word of the installer of a conservatory when it comes to considering Planning Permission and Building Regulations.
As a rule a conservatory will pass the permitted development test from a planning perspective and be considered as an exempt structure from a Building Regulations perspective. Further consideration however must be given in relation to planning.
Permitted development rights will generally apply provided that:-
- The conservatory does not cover more than 50% of the size of the original house.
- The conservatory is not built fronting a highway.
- The conservatory is not higher than the highest part of the existing roof.
- The conservatory is not more than 4 metres high.
Building Regulations will generally apply if you want to construct a conservatory provided that:-
- They are built at ground level and are less than 30 square metres in floor area.
- The conservatory is separated from the house by external quality walls doors or windows.
- There should be an independent heating system with separate temperature and on/off controls (if there is heating at all).
- Glazing in any fixed electrical installations comply with the applicable Building Regulations requirements.
- No new structural opening between the conservatory and the existing house is created.
Please feel free to contact us if you would like to discuss this matter further:
Telephone us on 01522 687500 or email enquiries@pagenelson.co.uk
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Stamp Duty Land Tax (SDLT)
September 1, 2014 10:40 amWhat is Stamp Duty?
Stamp Duty Land Tax (SDLT) is generally payable on the purchase or transfer of property or land in the UK where the amount given is above a certain threshold. Most UK land and property transactions must be notified to HM Revenue & Customs (HMRC) on a Stamp Duty Land Tax return within a certain time limit – even if no tax is due.
Various rules apply for working out how much, if any, SDLT is payable. The calculation – which is based on a value called the ‘chargeable consideration’ – can vary depending on whether the land is residential or non-residential, freehold or leasehold, or on other factors such as whether several transactions are linked.
There are also some types of transactions that are exempt from SDLT, or where reliefs can reduce the amount payable.
Broadly speaking, SDLT is charged as a percentage of the amount given for property or land when it is bought or transferred – unless there is a relief or exemption.
Higher percentage SDLT rates apply to higher-value transactions. The amount payable can also vary depending whether the property is being used for residential or non-residential purposes, and whether the property is sold as a freehold or leasehold.
What amount is SDLT charged on?
SDLT is charged on the total amount of what’s known as ‘the chargeable consideration’. The chargeable consideration includes everything of economic value given in exchange for the property – so as well as a payment of money, it can include a release from a debt, the transfer of an existing mortgage, or the provision of other services.
Most residential property purchases
For a straightforward residential property purchase, calculating SDLT is usually easy. The chargeable consideration is simply the purchase price (excluding the value of any extras such as carpets or furniture which are not counted as fixtures and fittings) so you apply the relevant SDLT threshold and rate to the purchase price.
Other types of transaction or new leases with significant rent
Calculating SDLT for other types of transaction or for new leases can be a bit more complicated. In these cases HMRC provides online calculators to help you.
Below sets out the rates at which SDLT is charged relative to the value of residential property. The rates for commercial property are largely the same except that the 1% charging rate does not apply until the value is over £150,000.
- Up to £125,000 – Zero
- Over £125,000 to £250,000 – 1%
- Over £250,000 to £500,000 – 3%
- Over £500,000 to £1 million – 4%
- Over £1 million to £2 million – 5%
- Over £2 million – 7%
Please feel free to contact us if you’d like to discuss this issue further, telephone us on 01522 687500 or email enquiries@pagenelson.co.uk
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A Short History Of Page Nelson
September 5, 2012 1:09 pm1875
Practice commenced by William Tomlinson Page the Younger (to distinguish him from his father, of the same name) who was manager of the Lincoln and Lindsey Bank – now HSBC Bank at Stonebow, Lincoln. It is believed that he originally practiced from an office at the junction of Clasketgate and Flaxengate.1887
Arthur Brown Porter taken into partnership – name changed to Page and Porter.1900
Moved to new purpose built office at 5/6 Bank Street. At the same time, joined by Harold E. Page, who was admitted in that year. It is believed that he continued as an Assistant Solicitor during his father’s lifetime but with a condition that on his death Harold E. Page would be taken into partnership by Arthur Brown Porter.1913
Death of William Tomlinson Page. Harold E. Page taken into partnership but as Junior Partner.1920
Partnership dissolved after seven stormy years (including an actual or potential Chancery action over a right of way for Arthur Brown Porter to the strong-room!) The property was “auctioned” between the Partners and Harold E. Page became sole owner (practicing as Harold E. Page). Arthur Brown Porter moved to premises in the High Street.1928
Mr Page’s son, Arthur Douglas Page, taken into partnership as Page and Page, though after a few years left to take a post with Kodak Limited. He remained a nominal Partner until just before World War II and the firm name continued as Page and Page.1966
Death of Harold E Page (at age of 90) whereupon Practice purchased by J.R who changed its name to Page & Co in April 1967 moved to 5 Lindum Road.2000
Merged with Nelson Wright and Walker to become Page Nelson.2004
De-merged with several partners and fee earners leaving to join McKinnells Solicitors. Alan Horner left as sole practitioner.2006
Steven Forster B.A. (Hons) joins as partner.2008
Neil Jones taken into partnership and the Practice changes name to Page Nelson SolicitorsLimited.2012
Moved to new premises on Doddington Road, Lincoln.Page Nelson is a Lincoln-based Solicitors who specialise in conveyancing law, making a will, Energy Performance Certificates, re-mortgaging, and residential and commercial property.
