Purchasing a Property in Scotland- Offering at Closing
Whether you’re a first-time buyer or looking to move up or down the property ladder, it is important to understand the procedure for offering on properties at a closing date. What is a Closing Date? A closing date is set when there are multiple parties who have noted an interest in the same property. This […]
Congratulations, You Have Paid Off Your Mortgage – What Happens Next?
Paying off your mortgage can be a very exciting time, and it will likely be a cause for celebration. However, it is important that you formally discharge the security from your Title Deed. When you buy a property with a mortgage in Scotland, your lender will want to protect their interest in the property by […]
TC Young’s Top Tips for First-Time Buyers
Buying your first home is an exciting and life-changing milestone. However, navigating Scotland’s unique property market can feel daunting without the proper guidance. As a first-time buyer, you’ll encounter a range of unfamiliar processes, costs, and decisions that can seem overwhelming. As someone trying to get on the property ladder and working as a trainee […]
Estate Agency and Conveyancing– what we can do for you
Did you know that TC Young is an Edinburgh Solicitors Property Centre (ESPC) Chartered Firm? The ESPC Charter is a quality standard that some ESPC Solicitor Estate Agent member firms have signed up to and details the higher service levels that can be expected from a Chartered Firm, including: In December of 2023, Yvonne Wonnacott […]
Top Tips After Buying a Property
You’ve finally got the keys to your new home, but before you crack open the flat-pack furniture or those tins of paint, here are some tips that can save you time and money further down the line. What does my solicitor have to do? Your Title- We submit the documents (namely, a Disposition and a […]
What Do Closing Dates Mean?
Following the first lockdown the property market in Scotland has exploded. There is such high demand for properties it’s no wonder the most recent statistics* are showing an average annual increase in value of over 11% for residential properties in Scotland. Currently the average price of a property in Scotland is £182,755, said to be […]
I’ve Paid Off My Mortgage, Why Do I Need To Discharge It?
The day is finally here; you’ve worked hard, made years of payments and now you’ve got that all-important letter from the bank/lender confirming that you have fully paid off your mortgage. Pop open the champagne, enjoy the moment and have a think about how you are going to spend that extra money each month. But […]
Land and Buildings Transaction Tax – Three-Year Alert
Land and Buildings Transaction Tax (LBTT) replaced Stamp Duty Land Tax on 1st April 2015. As well as being the duty payable on the price or consideration for the purchase of residential and commercial land and properties in Scotland, its introduction affected taxation on the grant of non residential leases. In circumstances where a return in […]
