Purchasing your dream home sounds exciting, right? Well, it certainly is. However, the process of purchasing a property can be equally as stressful and the current competitive market has exacerbated the potential for stress. Not to mention that buying a home is one of the biggest financial commitments you will ever make.
The Register of Persons Holding a Controlled Interest in Land (RCI) was launched on the 1 April 2022. This new register, which is managed and maintained by the Registers of Scotland, was established as a result of The Land Reform (Scotland) Act 2016 (Register of Persons Holding a Controlled Interest in Land) Regulations 2021.
Buying a property is typically the biggest purchase that a person makes in their life and doing it for the first time can be especially daunting and confusing. While algebra continues to be taught in schools, knowledge of the process when it comes to buying a property is normally a case of learning on the job. To assist, here is a brief guide for those looking to get on the ‘property ladder’ (please refer to the Glossary at the end of this article for terms that may be unfamiliar).
