Category: Property & Conveyancing

New insolvency law to help businesses survive in face of ‘aggressive debt recovery’ during pandemic

Businesses struggling to stay afloat through the Covid-19 crisis could be saved by the introduction of a new Corporate Governance and Insolvency Bill giving companies time to restructure, refinance and keep trading when they might otherwise go out of business because of debts caused by the coronavirus pandemic.

Under the rules, wrongful trading provisions will be temporarily suspended; meaning directors could continue trading through the pandemic without the threat of personal liability.

Wrongful trading makes it an offence for a company to continue trading when they know a business will not be able to avoid going into liquidation. However, the pandemic means that thousands of businesses have found themselves in a position where they must trade when they are technically insolvent.

The measure will suspend the use of written demands from creditors to pay a debt, known as statutory demands, where the debt has been caused by the coronavirus crisis.

Winding-up petitions, which allow creditors to demand that a company in default of its debt payments will also be suspended until at least the end of June.

Directors still have legal responsibilities under wider company law and these duties would remain in place, as would measures in insolvency law to penalise directors who abuse their position.

When it comes to legal advice, all businesses need someone skilled, reliable and experienced they can turn to for support and guidance. Call John Porter in our Company and Commercial Dept on 0161 624 6811(Option 4) or email jap@wrigleyclaydon.com.

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4th June 2020
New Year, New Start, New House

The new year is a time for new beginnings and a fresh start. If you are looking to buy a new home and/or sell your existing home, we are here to help. We are a team of friendly, efficient and rated conveyancers and solicitors.

Please do not hesitate to contact us for a competitive quote today and step into 2020, making your fresh start a reality.

For more information or to speak to one of our specialists within this area of law, please call us on 0161 624 6811.

19th December 2019
Professional negligence case finds against property agent and lawyer who failed to provide purchase deeds

A recent judgement has been made in the professional negligence case of Adams v Atlas International Property Services Ltd which saw many individuals lose their homes which they had purchased during the Spanish property boom.

Purchasers in England had bought property in Spain after seeing adverts placed by English agents for the developer and who received the purchase price in instalments.

Following confirmation that the purchasers wanted to buy a property the agent arranged for Spanish lawyers to carry out the conveyancing. The property developers were unable to give clean title to the property, due to a bank charge, and subsequently became insolvent.

Final completion monies were paid at a completion meeting and keys to the property were given to the purchasers but no signed purchase deed was provided. The bank subsequently sought possession against the purchasers who did not have good title. The purchasers therefore claimed against the agents and Spanish lawyer alleging negligence, breach of fiduciary duty and conspiracy.

The court granted judgement against the agents for the purchase price as well as damages for distress, inconvenience and loss of amenity. As against the Spanish lawyer the court granted judgement for negligence and breach of fiduciary duty.

Professional negligence solicitors

Suffering a financial or contractual dispute can have serious implications on your business. Our professional negligence solicitors will quickly and efficiently put your case together and act on your behalf to negotiate a settlement, arrange mediation, or represent you in court.

Call Shalish Mehta in our civil and commercial litigation department on 0161 785 3534 or email sm@wrigleyclaydon.com. We can advise you on the appropriate course of action and assist with any legal documents or proceedings that may occur.

5th May 2017
Oldham Conveyancing solicitors receive custom cupcakes!

Our Oldham conveyancing solicitors were thrilled to receive a lovely surprise this week from a grateful client. Conveyancing exec Tracy Rostern was sent a box of conveyancing themed cupcakes from a recent customer!

The unique and unexpected gift was from husband and wife Rabnawaz and Saima Inayat, who Tracy assisted with a conveyancing transaction. They left a lovely testimonial for Tracy to go with the cupcakes;

“I would like to thank you for your conveyance services, our case was not an easy one, but your patience, hard work and constantly updating and keeping us informed kept us going, you have really looked after us really well, we really appreciate what you have done for us and look forward to using your services again, I hope you and your team enjoy the cupcakes. Once again thank you:) Kind regards, Rabnawaz and Saima”

Aren’t they brilliant?!

4th October 2016
Stamp duty changes for additional properties

From 1st April 2016, there will be a higher rate of stamp duty payable by those who purchase a buy to let property or second home.

The higher rate of tax applies to properties above the price of £40,000.00 and will be in the sum of 3%. This additional tax is payable on the full purchase price of the property. The new tax band is in addition to the normal stamp duty rate.

If the property you are purchasing is to replace your main residence, which is also on the market to be sold, then the higher rate of stamp duty will not apply, however if your main residence has not sold at the time you complete the purchase of the new additional home then you will have to pay the higher rate. A refund will be made if the previous main residence is sold within 18 months.

Buyers must inform their solicitor if the property they are purchasing will be an additional property. If the they do not disclose this information it is tantamount to fraud and the buyer will be liable to pay a penalty which could be a lot more than the additional 3% stamp duty.

For more information about the new higher rate of stamp duty please read the full guide on the gov.uk website. If you have, or are looking to grow, a buy-to-let portfolio or purchase a second home, please contact us for some initial advice. We would be happy to act as your conveyancing solicitors during the purchasing process.

Please contact our conveyancing team who offer a nationwide service and can help you purchase a property anywhere in the UK: Uzma Begum, Oldham office, 0161 624 6811, ub@wrigleyclaydon.com OR Colette Stephens, Todmorden office, 01706 815 712, cms@wrigleyclaydontod.com

17th March 2016
Your Guide to Understanding Conveyancing
Spring is a popular time of year for moving home. Many home owners may be looking to advertise their property for sale, and others will be looking to buy. Buying and selling a property is too often seen as a difficult or stressful process. This needn’t be the case.

Whether it’s buying your first home, moving up the ladder into that dream family home, down sizing after the kids have left or selling up completely, moving home is an exciting time of new opportunities and adventure!

Dealing with the legal side of a property transaction should be stress free, efficient and quick. The professionals you choose to help you should provide you with advice throughout the transaction and can initially talk you through what you need to do once an offer has been accepted on a property. Your solicitors service should include:

Liasing with the seller’s/buyer’s solicitor with all the legal enquiries

Conducting searches on the property to identify any issues prior to sale/purchase, and advising on the findings

Exchanging contacts and paying the deposit

Completing the transaction

At Wrigley Claydon we have a dedicated team of Property professionals who can guide you through the process. We promise to be up front about our fees, without any hidden extras and provide clear communication about the progress of your sale or purchase.

Please do not hesitate to contact us for confidential, initial free advice to discuss how we can support you. Please call 0161 624 6811 for enquiries – or fill in the form on this page

A guide to buying or selling your home

We have prepared two information sheets that cover the main points about Purchasing a Residential property and Selling a Residential property that you can download free by clicking on the links below:
26th January 2016
Conveyancing costs confusion

The process of buying and selling property can be notoriously stressful and at times confusing. With mortgage applications and offers to negotiate, estate agents to deal with and then solicitor and conveyancing costs to work out, there’s a lot to get your head around.

How much should a conveyancer cost?

Conveyancing prices differ hugely and can often lead to confusion and in many cases, nasty surprises. Conveyancing costs are dependant on a property’s value, so someone looking to purchase a house worth £300,000 can expect to pay more than for a property valued at £125,000. However, this doesn’t help the average property buyer/seller when looking for a conveyancing solicitor.

With some firms offering staggeringly low costs such as £250.00, the public can be blindsided and easily lured by these apparently low and attractive prices. However, these kind of figures are just not achievable. Many will find there are lots of hidden extras with these low prices, with some law firms even charging for each letter written, email sent or phone call made, photocopying and postage. That initial low price will quickly mount up!

A more sensible average conveyancing figure for a residential property worth £200,000 is around the £800.00 +VAT mark. This may seem much higher than the aforementioned £250.00 but here’s how it breaks down:

What is conveyancing?

Conveyancing describes the legal transfer of property, from seller to buyer and covers a whole plethora of tasks.

Your solicitor will carry out various investigations and searches for you and your mortgage lender to establish if there are any issues with the property and can advise you of what actions to take. For example there may be planning constraints or permissions on the property which will need to be addressed before you purchase it. Searches could find the property is in a known flood risk area or built on an old mining site which could over time affect the structural stability of your new property.

Your conveyancing solicitor will help you to resolve any property-related legal issues revealed by the searches or surveys. Your solicitor will make all the necessary legal enquiries with the seller’s solicitor and investigate the title of the property.

Law firms offering low conveyancing prices won’t have included the cost for searches in their quote, stamp duty costs, land registry fees or what is known as disbursement costs – the levy for handling your deposit money from you to the mortgage lender and the full value of the property from the lender to the seller.

Conveyancing services from Wrigley Claydon

At Wrigley Claydon, we are very upfront about our conveyancing costs and what is included and what isn’t. Our quotes are for the full conveyancing service +VAT. We do not charge extras and there are no hidden fees. What we quote is what you will pay, unless of course, any further legal action needs to be taken as a result of any searches. In this instance you will be informed of any additional costs before they are carried out.

Our conveyancing prices are very competitive in Oldham and across Greater Manchester. We are significantly lower than many city centre firms by an average of £200-300 and can offer attractive conveyancing costs to those looking to buy or sell property in the more affluent areas of South Manchester. Conveyancing prices in South Manchester are higher than we charge. No matter where you are buying or selling a property, the process is the same, and we believe conveyancing prices should be too. We offer a more personal service to all our clients in that you will have direct contact with your legal representative throughout the transaction and will not be passed to different people at different stages of the conveyancing process.

For a competitive and fully inclusive South Manchester conveyancing quote, or anywhere else for that matter, please contact our conveyancing solicitors on 0161 624 6811.

6th August 2015
Property investors look North say conveyancer solicitors
Savvy property investors and professional landlords are edging their bets further north than ever before as rental yields across the North West of the UK boom.

Whilst property values in London continue to rise faster than the rest of the country (a staggering 19.1% jump year-on-year) and the average house price stands at £514,000, in Manchester the average price for a house is just £211,748. Despite a 58.8% decrease in the average property value, rental yields are actually higher in Manchester and the North West!

Recent data has revealed that yields in respect of London rental properties were approximately 4.3%. Yields in the North West of England however were approximately 7.1%, a huge 2.8% higher.

A cheaper purchase price coupled with high rental market demands means property investors are consequently looking to expand their portfolios in the region. The North West is experiencing a massive investment boom and now seems the time to capitalise on attractive property prices:
- Manchester has agreed a devolution deal with the Government worth £1bn which will see it control its own finances in respect of housing, health care, transport and more.
- The, albeit controversial, HS2 high speed rail will connect the North West to the capital in just 68 minutes and with further rail investment in the planning across the region, business growth in the area is expected to follow.
- The expansion of Manchester Airport further increases the attractiveness and accessibility of the region as a place to do business.
If you hold a property portfolio or are looking to become a professional landlord our experienced, efficient conveyancing team can provide you with a quick, cost effective conveyancing solution. Call us on 0161 624 6811 or 01706 815 712. Alternatively, you can use our online enquiry form and a member of the property team will get back to you.
12th June 2015
Our legal tips and advice for moving home

A 8.3% rise is expected in house prices this year, however with government schemes such as help-to-buy, rising house prices won’t stop the housing market from booming over the next year.

Purchasing or selling a home can be a long process. Once the offers have been made and accepted there are legal requirements that need to be fulfilled. Hiring a qualified conveyancing solicitor to work on your behalf is the option that most people choose as trying to carry out the legal work yourself is often too difficult and time consuming.

The key difference between hiring a solicitor and a conveyancer is that a conveyancer is qualified specifically within the property industry and they are licensed by the Council of Licensed Conveyancers. Solicitors will have knowledge of the property industry and therefore are also qualified to give legal advice and represent a client who is buying or selling a home.

The moving process can be daunting when considering the different elements that need to be managed which is another reason why hiring a conveyancing solicitor is a good idea. They are responsible for organising surveys, valuations, advice and representation on compulsory purchase compensation, reports from specialist services (such as damp proofing) and assisting with mortgages or other funding arrangements.

Once offers have been made and accepted the estate agent will ask for your legal representatives details to pass onto the other party’s legal advice. We recommend that before you start looking for a new home you make contact with a solicitor or conveyancer as this will make the process quicker, and smoother and prevent rushed decisions being made.

A qualified solicitor could also act on behalf of your lender, which could save you money. The main task is to draw up a mortgage deed which sets out all the conditions of the loan which the lender will then hold along with the title deeds of your property until the loan is paid in full.

If you are looking for a new home and are in need of legal advice do not hesitate to contact us. We have a team of property experts that are willing to answer your queries, to speak to one of our specialists call us on 0161 785 3534.

15th January 2015
Changes to consumer law: fixture or chattel?

If you’re planning on leaving your commercial property and want to remove certain items, what are your rights and where do you stand in terms of the law?

The area of defining what is a ‘fixture’ and a ‘chattel’ can be difficult. However, understanding the difference between them will help you determine what you can and cannot take with you at the end of your lease.

In law, a fixture is generally defined as: an article attached to land and regarded as part of it OR a chattel that has been attached to property so that its removal would damage the property and may therefore be considered as part of the property. The exception is a ‘trade fixture’, or item of machinery. If the object can be removed without causing substantial damage to the premises it is the tenants to take. If the structure of the property is compromised by its removal, it must stay in place.

A chattel is an item of property other than freehold land, including tangible goods and leasehold interests.

But which is which; fixture or chattel?

The general rule is; if it is a fixture, you can’t take it away, if it’s a chattel, it belongs to the tenant and can be removed.

In a recent case, a court had to decide whether large items of plant machinery installed in a steel mill by a tenant were fixtures or chattels. The High Court had held that all bar one of a hundred items were either chattels or tenant’s fixtures and could therefore be removed by the tenant. The landlord appealed because the lease contained a clause, which in their view, overrode the removal. The Court of Appeal agreed with the landlord.

As well as knowing how to classify items, it’s also imperative that you check the wording of your lease to ensure nothing can override your right of removal.

If you are still unclear and feel you need some expert advice about your commercial lease and the removal of items at the end of it, please contact one our Commercial Property solicitor John Porter. He’ll be happy to look over your existing lease or can assist in the writing of a new one. Call 0161 785 3529, email info@wrigleyclaydon.com or fill in our web enquiry form.

29th August 2014