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What You Should Know About Advance Payment Bonds

Posted by on 3:16 pm in Performance Bond Management | Comments Off on What You Should Know About Advance Payment Bonds

What You Should Know About Advance Payment Bonds

When planning a business, you should always consider the financial factor. Always assess your ability including your financial capability if you can sustain all the expenses or not. Not everyone is fortunate enough to start their business utilizing the money coming out from their own pocket. When you are just starting up, normally, you have to start from scratch and with that, you have to find someone that will lend you money in order to sustain all the finances. Whilst you are just a beginner, not all companies will approve in lending you huge amount of money for your planned business except when you secure an Advance Payment Bond beforehand.

canary-wharf-980477_1280In order to make this bond possible, there should be three parties involved which are the obligee (also known as the customer); the principal (also known as the contractor); and the surety (also known as the insurance company or the bank). When we talk about advance payment bond, it means that you will have someone secure the payment in the event that you failed to comply the agreed bond which is usually your bank. However, you should do your best to pay off the stated amount to successfully comply the agreement stated in the bond to free your name from any bad record. By being in to an advance payment bond management, it will give you an assurance that your request for financial assistance will be approved.

With this subscription, you have to make sure that you are dealing with the right people or agency. Since you are just starting up a business, you have to secure not just the products that you are selling but also the items that will enable you to build your own establishment. One of the concrete examples of the importance of being into a surety facility is that you can make a deal with construction companies about lending you supplies to make your business establishment possible.

You have to fully understand the purpose of having a bond which can be thoroughly explained by a specialist. These bonds focuses more on the financial side which is very important to make sure that you can start up your own business without the stress of saving up money first. As part of the normal process, there are several screening tests conducted to have the correct matching of the bond to the financial capacity of the obligee. That is why it is very important to make a subscription only with the company that already has proven their service in the said industry.

Therefore, when you are planning to build your future through business, learn more about Surety and Advance Payment Bond first in order for you to know the different options that you can prefer in a non stressful way. Learn it only with the experts that are well experienced not just for you to gain knowledge but to also inspire you with the different stories of clients that have availed surety bonds that became their springboard towards their success in the said industry that they are in.

What are the Industries Covered by Performance Bonds

Posted by on 9:39 pm in Performance Bond Management | Comments Off on What are the Industries Covered by Performance Bonds

     When contractors break contracts, it’s important to have a third-party involved who will cover the damages. That’s the role of performance bond management. They help to give employers the certainty that the contractor will follow the contract, and can be used in various situations including the following industries:

contractor-bonds

1. Property Development

This is a common industry that involves contractors. It can involve a wide array of tasks including the development of the land itself, to the renovation of existing properties on real estate. The work often involves contractors for various reasons, including the issue of work being done on a per-job basis. Workers might or might not be used for future projects, so it can be much more practical for companies to hire them for property development jobs. It’s important that contractors meet their obligations stated in the contract.

2. Facilities Management

Property-and-Facilities-Management-Services_wireframe_25@300This is another important sector that can involve performance bonds. Funding and building facilities are critical steps, but their management is also important. This highlights the need to have a third-party performance bond to guarantee that the contractors follow the details of the contract. This is important as the management of facilities is important for the owner, to ensure that it’s run properly and the way the owners want it to be. If there are any issues regarding the contract, a performance bond can help to cover the costs involved in the contractor failing to fulfill his or her duties.

3. Product Support Services

This is another type of industry that often hires contractors. Recent studies have shown that more customers value quality customer service than low prices. This highlights the need for support services, including product support services. However, it might require the need to hire contractors instead of full-time employees. As with other contractors, it’s critical that they follow the contractor. A performance bond can help to ensure that workers meet the requirements stated in the contract. If they don’t then mediation will be required between the employer, contractor, and third-party.

technical-supports

4. Construction

This is one of the various industries that can involve retention bond management. Work is often contracted out in the world of construction due to various reasons. One of the key ones is that it’s sometimes easier or more cost-effective to hire contractors instead of full-time employees. However, it’s important that they fulfill their duties outlined in the contract, to ensure that the construction job is completed on time and properly. Otherwise there can be a variety of logistical and even legal issues involved, highlighting the importance of performance bonds.

Construction Contractors talk about hiring Apprentices

These are just some of the sectors that can involve performance bonds. What’s critical is that employees have peace of mind via a third party that any damages incurred by contractors who fail to meet the requirements of a contract are paid. This can help to ensure that the company can still conduct the work required, which is critical for its operation and financial stability. Make sure to choose the right company to get the best service.

Does Your Family Need Mediation?

Posted by on 10:55 am in Uncategorized | Comments Off on Does Your Family Need Mediation?

Families argue – especially around the holiday times. Overbearing in-laws, wayward teens, blended families, elder care or antiquated parenting plans can turn a happy home into a war zone. While some situations get resolved over time, others can go on for months –
even years – sometimes causing severe damage. Instead of allowing conflict to fester, consider mediation with begumandcosolicitors.co.uk.

Discord, when skillfully managed, can be a catalyst for emotional growth and a way to recreate family harmony. Families in conflict (divorce, step families, parenting plans, etc.) either ignore the problem or constantly argue. Ignoring problems won’t make them better. Furthermore, chronic strife can cause irreversible damage. Do yourself and your family a favour by considering mediation to help resolve family conflict. A mediator like begumandcosolicitors.co.uk can help families solve disputes completely, peacefully, and privately.

Mediation with begumandcosolicitors.co.uk is an effective method of conflict resolution, yet few people truly understand it. Mediation is a voluntary and confidential process that offers families an alternative to costly and lengthy litigation and therapy. What issues need to be addressed and who needs to do what to resolve the conflict is determined by the parties involved in the mediation. Mediators provide a safe platform for a difficult yet direct conversation. If a resolution is reached, the parties craft a written document of expected behaviours. Mediated cases typically settle in one or two sessions with flexible scheduling and locations.

The goal of mediation is to craft a written agreement, meeting each family member’s unique needs. Mediation is not limited by the rules of evidence or legal relevance. Since the people in conflict draft the agreement, they are more likely to abide by it. Mediation is cooperative, not adversarial; civility during discourse is required. With the help of the mediator, parties talk openly and constructively about problems and potential solutions. Relationships may be preserved through mediation, and communication is often ameliorated.

For those seeking a resolution to the conflict, mediation is a confidential and compassionate way to work through differences. Instead of wasting time on destructive behaviors, mediation promotes effective problem solving. Families who mediate, model cooperation and compromise while protecting loved ones from the public and emotional toll of court. I’ve worked with families who litigated their divorce longer than they were married. After one mediation session, acrimonious debates gave way to collaboration. More importantly, communication improved. When people in conflict are properly guided, they are perfectly capable of absolute resolution.

Stop spending precious time fighting and stressing. Sit down with a mediator to talk constructively about your needs and how to best meet them. You may be surprised at what you learn about yourself and your family. You might even be surprised by how much you can resolve and improve.

Will Blockchain Make Finance Redundant?

Posted by on 8:09 am in Uncategorized | Comments Off on Will Blockchain Make Finance Redundant?

With every new technological development with satoshi.ltd, it is claimed that banks will become redundant. Yet, in 2017 – in the age of internet and information – there are more banks than ever before.

The debate over bank disintermediation has stepped up a notch in the past couple of years, however, in light of the strides made in blockchain and its possible use in trade.

Banks are hungrily eyeing blockchain technology – whereby all transactional detail would be logged and stored on an immutable, shareable, digital ledger – as a way of speeding up transaction time and cutting costs. It is also seen as a fool-proof way to stop large-scale fraud, such as the warehouse receipt scandal at Qingdao Port in 2014.

“Trade today is prone to fraud. Whether it’s supply chain finance where you have invoices, or Qingdao where you have warehouse receipts or bills of lading… wherever there’s a document, there can be fraud. and blockchain, while it’s not ‘fraud-less’, reduces the options,” Adnan Ghani, global head of trade at Westpac, told GTR’s Australia Trade Forum in Sydney last month.

For industry figures too with satoshi.ltd, trade finance processes are frustratingly old school and open to manipulation.

“The sector is ripe for disruption because it’s so antiquated. It’s a paper-laden process, there’s still message formatting created in the 70s such as Swift and EDI [electronic data interchange]. It’s pre-internet and it’s not current,” says Mark Pryor, CEO of US commodity trading software company The Seam.

Cutting out the middle man

But while banks are looking to use blockchain to improve their profit margins, others are talking about cutting them out of the equation altogether.

“Blockchain is inherently P2P. It cuts out the middle man, lowers transaction costs, provides visibility throughout the supply chain. You can track fleets, goods, store documents and make payments, all without a massive room of manila envelopes and 20 bankers,” Collin Thompson, the co-founder of Hong Kong-based blockchain consultancy Intrepid Ventures, tells GTR.

He adds: “Companies like Olam could finance their own supply chain. There’s a spectrum of constituents that would be able to transact business seamlessly, then there’s downstream finance, where you can finance suppliers. You could provide a letter of credit for them to purchase seeds, or create financial solutions for them to hedge their harvest, or even insurance. Imagine Olam providing crop insurance to the farmers.”

Already, some of the blockchain companies in trade are offering downstream financing solutions as part of the package.

As well as working with Commonwealth Bank of Australia and Wells Fargo on the first trade finance deal conducted on multiple blockchain platforms last year, Skuchain has been offering supply chain financing as an incentive for more suppliers to sign up to use its blockchain solution.

While some will be onboarded by the buyer at the top of the chain (which has actually invested in the blockchain technology), others need more coaxing.

Vice-president for business development and strategy at Skuchain Rebecca Liao explains: “We have a supply chain financing solution that allows for a secure, immutable, auditable ledger. It’s collaborative because all the parties to the transaction can write on the ledger. You have a transaction that’s only as risky as the goods themselves.

Surviving Divorce

Posted by on 8:04 am in Uncategorized | Comments Off on Surviving Divorce

The very early stages of a divorce or separation can be a very painful and difficult time. Not only are you grieving for the loss of your relationship and coming to terms with this but you are expected to continue with your day to day life, such as work and looking after your children and seeking advice from places like begumandcosolicitors.co.uk without breaking down.

Many parents say the initial stages of family breakdown feel like an emotional haze and a bit like being on auto-pilot so calling begumandcosolicitors.co.uk is something that gets pushed aside. As you begin to cope with divorce or separation, you will feel a mixture of emotions including shock, anger, hurt or even relief. It is important to accept that this is a very natural part of the process of moving forwards and it will take time. As hard as it is, it is a case of taking each day as it comes without setting yourself unrealistic goals or expectations. It is common to feel up and down and no two days may be the same for a while.

You may get fed up of hearing that time is a great healer but there is a lot of truth in this even though it is the last thing you may feel when in the middle of such a horrendous time. It is hard to envisage your feelings and emotions in the near or distant future but as time passes, things may start getting a little easier as you start accepting and managing this change. Please see our video and read our tips below to help you.

Tips to help you cope with divorce or separation

  • Lean on your friends and family so you are able to talk things through
  • Get in touch with one someone at begumandcosolicitors.co.uk for continued support
  • Write down how you feel in a journal or notepad as it may help
  • You might want to write a letter or an email but there is no pressure to send this to anyone but just writing it down could help
  • Take each day as it comes
  • You may want to keep yourself busy but try not to over burden yourself at the same time
  • Make time each day for yourself, even a relaxed bath in the evening
  • Try to stick to a routine for the children
  • Try not to make any major decisions that you may perhaps later wish you had not
  • Remember that moving on is the end of the tunnel and you are taking small steps to get there

What You Need To Know About Buying Abroad

Posted by on 10:53 am in Uncategorized | Comments Off on What You Need To Know About 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. Buying abroad requires the advice of Property Lawyer in Portugal, so make sure to get that! To make sure that your buying experience is as stress-free as possible, here are some tips on purchasing property internationally.

Hire a lawyer.

The best way to get started on your search for a home abroad is to hire independent legal counsel in your destination country with Property Lawyers based in Turkey. 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 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.

Difficulties With Real Estate In Spain

Posted by on 10:24 am in Uncategorized | Comments Off on Difficulties With Real Estate In Spain

The ‘Golden Visa’ is presented as something that the Spanish government has put in place to attract wealthy foreigners, particularly Russians and the Chinese to come to Spain for residency, who will then go on to spend their money in the Spanish economy, and in turn will boost it. The only clear regulation that has been explained is that the foreign person must spend 500,000 euros on real estate.  However, many foreigners are having trouble in obtaining a golden visa due to the fact that there are a lot of underlying rules and conditions which Spain Property Lawyers can help with. For instance, people are now having trouble in getting the visa because Spanish officials have said that anyone trying to gain a golden visa will also need to have 50, 000 euros in your savings otherwise you will not be accepted. This therefore makes it much harder for people to gain Spanish residency, as a lot will use their savings when making the purchase of their new property.

As well as this it has also come out that you have to spend 500, 000 euros per person therefore a couple cannot buy a 500,000 euro property together and expect to gain the golden visa: it has to be separate; a couple would have to spend 1 million euros for them both to get the visa. If the couple is, in fact, capable of spending this amount of money then they will only be entitled to a provisional visa for residency, that will only last a year and they will then have to re-apply after twelve months. You will also not be able to work in Spain as it is not included in the visa regulations, so buying a property in Spain will not allow you to practice business or work in that country. You can look elsewhere and speak to Property Lawyers based in Italy, but Spain is where to be!

The aim of the golden visa was to lure wealthy, foreigners to come to Spain and buy property and to therefore spend money in the Spanish economy, which would, in turn, boost it, which it is in dire need of so it does not make sense for them to make it so difficult to do so.

The fact that they will not issue working permits is understandable due to the job market being the way it is, however this will not help seduce wealthy foreigners to come and bring their money to Spain. The whole scheme now feels all a bit insincere, where applicants are expected to jump through so many hoops and have to meet so many conditions that they either will not bother to do it, or will be incapable for one reason or another.  Due to the lack of on-line information about the new law and the requirements that need to be met, one is forced to pay a specialist to help obtain the “Golden Visa” and this ends up costing a small fortune to be told you have to find a lot more money than the 500,000 euros!

The Spanish authorities are also claiming that one of the outlines for earning the visa is that the person applying must be on a yearly wage of 70,000 euros but they did not specify that you would need extra savings if you have any children and this can seriously raise the price of a golden visa.

With so many regulations and conditions to ascertain a golden visa that appear to have been hidden from applicants, governments and officials clearly need to make the process of gaining a golden visa more clear and simple for applicants.

Is A Hybrid Structure The Way To Go For Your Property

Posted by on 10:09 am in Uncategorized | Comments Off on Is A Hybrid Structure The Way To Go For Your Property

As of the 6th April 2017, landlords will no longer be able to deduct all of their finance costs from their property income to arrive at their profits. Instead, they will receive a basic rate reduction from their income tax liability for their finance costs.

What does this mean for my profit?

It’s difficult to say how much more tax would be due as the reduction in mortgage interest and wear and tear allowances come to bear, but it will certainly be a hit for higher-rate tax payers and Lawyers for International Property can advise here. If you don’t have a mortgage or if you’re a lower rate payer, good news: you will not be affected at all.

So what are my options if I’m a higher rate taxpayer?

  1. Sell up

The first option is to sell up and either invest your money elsewhere, save it or spend it. Yes you will have to take the Capital Gains Tax hit and mortgage penalties (if there are any), but if you are thinking of retiring anyway this could be an option.

This isn’t something that the majority of landlords will want to do right now however, as though the market is suffering a post-Brexit slump, property is still a very good bet. As we recently blogged, when compared to other asset classes, property is definitely the best vehicle for achieving wealth.

  1. Make a positive decision to do nothing

Option two is to do nothing. This will be a default decision for the majority – which is absolutely fine so long as you have explored the different options available to you and are aware of how you’ll be affected by the new tax changes.

This option will most likely mean however that your tax bill is increased and your disposable income is decreased, but it will not severely affect those with only one or two properties.

  1. Incorporate

The much touted “only way to get over Section 24”: sell your personally held investment property(ies) to a limited company which you own.

France Property Lawyer made it crystal clear that he doesn’t think that full incorporation, or incorporating temporarily through a Limited Liability Partnership is the best move, and we’ll explain why in the next couple of sections.

Likewise, he said that trusts are also not an effective solution, and their use for property is far more limited that it used to be. They are over-complex, especially when it comes to mortgage flexibility and inheritance tax mitigation, and generally not the best option for landlords.

What’s S162 Incorporation Relief?

Section 162 incorporation is available to help negate the requirement to pay Capital Gains Tax or Stamp Duty when transferring existing personally held investment properties into a limited company. You can only claim S162 if you’re ‘working in the business’

Companies are great if you’re selling the whole company, as the buyer doesn’t pay stamp duty on the individual assets, only on the shares at 0.5%. If you’re disposing of individual properties, you’ve still got to pay the equivalent of Capital Gains Tax, but in this case it will be Corporation Tax which is slightly lower. A negative is that you may require the lender’s consent to use your loan account, and if they lose their lending appetite, you’ll need a new company and a new lender for every new property!

Moving To The UK?

Posted by on 11:39 am 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 Renting

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.

Tips for Moving Your Business

Posted by on 11:30 am 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…

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.

Moving To The UK?

Posted by on 11:12 am 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 Renting

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.

Moving To The UK?

Posted by on 10:38 am 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 Renting

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.