Blog

FCA Mortgage Market Review – what this will mean for clients wanting a mortgage from 26th April 2014 onwards

  • Author: David Crosby
  • Posted on: 23rd April 2014
  • Posted On: Blog

The Financial Conduct Authority (FCA) will be bringing into force new regulations regarding mortgages from 26th April 2014. The aim of these regulations is to tighten up mortgage affordability checks and as a consequence (perhaps to a degree some unintended) these will take away a significant degree of flexibility for Lenders when assessing a customer’s eligibility for a mortgage. No one wishes to go back to the time when mortgages were being given to literally anyone who asked for one and irrespective of their actual ability to repay that loan, but equally with property buying and…

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Crosby & Woods Property Advice Newsletter April 2014 - Beware of Ghost Gazumping!

  • Author: David Crosby
  • Posted on: 23rd April 2014
  • Posted On: Blog

With the property market resurgent, gazumping is unfortunately making a comeback.   Demand for housing far outweighs supply and there is a chronic shortage of homes available to buy.  The two factors that have combined to produce the new, aggressive tendency are a Bank of England that is determined to hold down interest rates and to keep on holding; and a lack of new housing stock. 

What's alarming is that stunts are being pulled that did not occur even in the property bubbles…

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Cohabitation on the Rise

  • Author: David Crosby
  • Posted on: 8th April 2014
  • Posted On: Blog

It is not surprising given the shift in public opinion that cohabitation is on the rise however, recent statistics show that cohabitation has risen significantly in the over 40’s age bracket within the last 10 years.  Although not applicable to everyone it is likely that those in their forties will have some assets and this presents potential financial difficulties that those cohabiting may not be aware of.

Here a Crosby & Woods we urge you to think carefully about your rights while cohabiting. Whether you wish to protect your…

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Basic Tips in Commercial Leasehold Transactions

  • Author: David Crosby
  • Posted on: 8th April 2014
  • Posted On: Blog

The first step once commercial lease terms have been thrashed around is to record the outline agreement in a subject to contract document called “heads of Terms”.  This can be prepared by the seller’s agent, anticipating that satisfactory references have been or will be obtained by the parties themselves in the absence of any agent.

It is wise to have the Heads of Terms signed by both parties.  

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CROSBY & WOODS Solicitors and the Law Society's Residential Conveyancing CQS Quality Mark

  • Author: David Crosby
  • Posted on: 31st March 2014
  • Posted On: Blog

Crosby & Woods Solicitors in Brighton & Hove are delighted to announce they have successfully been reaccredited as a Law Society Conveyancing Quality Scheme (“CQS”) approved Firm – this is legal profession’s recognised mark of excellence for the home buying and selling process.

As a firm we underwent rigorous assessment by the Law Society in order to not only secure but thereafter maintain our CQS status – status that marks the firm out as meeting only the highest standards in the residential conveyancing process.

David Crosby, Partner says…

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I’M GETTING MARRIED IN THE MORNING, SO GET ME TO THE CHURCH ON TIME...finally a song that can be sung by all!

  • Author: David Crosby
  • Posted on: 13th March 2014
  • Posted On: Blog

From 29th March 2014 same sex couples will begin to have the same entitlement to be married as a heterosexual couple. Although gay couples have been able to enter into a Civil Partnership since 2004 this change will now provide complete equality for all couples. Prior to this change some couples had decided to marry abroad in a country which already recognised same sex marriages. Thankfully those marriages will now be recognised in England and Wales.

Here at Crosby & Woods we welcome and embrace this long awaited equality achieving change as…

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Chancel Repair Liability – Should you still be worried about it?

  • Author: David Crosby
  • Posted on: 13th March 2014
  • Posted On: Blog

“There are probably only two examples of ordinary people having to shell out for the repair of a chancel in the past 100 years”...."In my opinion registering the liability should be really rare but there will be some circumstances when it probably will be reasonable”

Reverend Greg Yerbury

 A chancel is the part of a church containing the alter, sanctuary,…

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New Land Registry changes to save Crosby & Woods Conveyancing clients £’s

  • Author: David Crosby
  • Posted on: 12th March 2014
  • Posted On: Blog

The Land Registry reduced fee scale order 2013 comes into effect on Monday 17th March 2014. The Land Registry, who are the government department responsible for registering land in England and Wales, have announced that following  the efficiency savings they have made in the last year it is reducing some of its fees for many applications lodged electronically. These changes mean that firms who subscribe to the new registration process can lodge their applications online, rather than on paper, and in doing so get access to cheaper fees for their clients.

At Crosby & Woods we are extremely proud to…

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Crosby & Woods Solicitors tips on what to do if you a buyer faced with buying in a strong seller’s property market

  • Author: David Crosby
  • Posted on: 10th March 2014
  • Posted On: Blog

Brighton & Hove and Sussex as a County generally is most definitely experiencing a booming seller’s market at the start of 2014. In layman’s terms this means that due a shortage of property that is available to buy (a shortage which has always been historical due to the proximity of the City to the Sea and to the Downs), there are at present many more people looking to buy than there are available properties actually for sale. The consequence of this past and present imbalance is that desirable properties in good locations are seeing multiple buyers…

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Lastest Property Advice from Crosby & Woods - When buying or even renting, be prepared to act quickly and decisively

  • Author: David Crosby
  • Posted on: 4th March 2014
  • Posted On: Blog

http://www.telegraph.co.uk/finance/personalfinance/houseprices/10674138/Most-widespread-house-price-rises-in-10-years.html

The statistics in this article are definitely supported by the current market in Brighton & Hove. In the last 6 months, but in particular since the 1st January, the property team at Crosby & Woods have noticed that almost all of our clients who are selling have indeed found a buyer within a matter of days, in some cases on the first day their property has been marketed, and on a few occasions even before it was marketed as their agent has had buyers waiting.

There is clearly a massive demand to buy which at the moment is not matched…

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