NO OBLIGATION AND FREE INITIAL INTERVIEW
Location: 19, Camp Road, North Camp, Farnborough GU14 6EN
I established Money Ways UK in 2000, as a small firm of Independent Financial Advisors with the focus on providing the best advice to corporate and individual clients. Providing tailored advice in clear and concise language to ensure all aspects are properly covered and fully understood.
Our location allows us to conveniently serve North Camp, Farnborough, Cove, Aldershot, Ash, Wanborough, Fleet, Hartley Witney, Camberley, Farnham and other Surrey and Hampshire areas. Clients are invited to our offices or we offer home visits for additional flexibility.
We offer an initial meeting which is free and without any obligation.
Just give me a call on 01252-516517 to arrange an appointment, I can visit you in your home and help discuss your options.
Find a competitive price to guide you through the process of buying or selling a house from start to finish. The quote facility offered here is designed to help you tailor your legal needs at the best price with helpful reviews from other customers. Please feel free to ask any questions to us.
The following is a guide explaining the conveyancing process when buying a home. Conveyancing involves legally transferring home ownership from the seller to the buyer. It starts when your offer on a house is accepted and finishes when you receive the keys. Understanding what it involves will help ensure there are fewer surprises along the way.
A solicitor or conveyancer usually conducts the conveyancing process, but it is possible (although difficult) to do it yourself as long as you are not taking out a mortgage. For more advice, see Finding the right solicitor or conveyancer.
1. If like most people you are too worried or time poor to do the conveyancing yourself, the next step is to find a solicitor or conveyancer and “instruct them” to do it for you.
2. Your appointed conveyancer will then draw up a draft contract or terms of engagement with you, setting out their charges and deposits required.
3. Your solicitor will write to your sellers solicitor to confirm they are instructed and request a copy of the draft contract and any other details, such as the property’s title and the standard forms.
4. Your solicitor will examine the draft contract and supporting documents and raise enquiries with the seller’s solicitor. You will be expected to go through the forms the seller has completed and let the solicitor know if you have any queries or concerns. In particular you will want to double check the tenure of your new home: If it’s leasehold, don’t rely on your solicitor to check for the length of the lease. Leases below 80 years are a problem, can be costly to extend and you need to have owned the property for 2 years before you are eligible to do so. Leases under 60 years are best avoided.
5. Property searches . There are things you may not know about the property just from viewing it with estate agents or even getting a survey. The conveyancer will do a set of legal searches to ensure there are no other factors you should be aware of. Some searches will be recommended by the solicitor for all purchases and others will be required by the mortgage lender to protect them from any liabilities that the property may have:
6. You will need to get your mortgage in place. This will include ensuring you have the financing available for a mortgage deposit. Your solicitor will receive a copy of the offer and go through the conditions.
7. You will need to get a mortgage valuation . This is carried out on behalf of the mortgage company so they know that the property provides sufficient security for the loan. You normally have to pay for it, but a mortgage company might throw it in for free to attract business.
8. You will want to have any other necessary surveys done. Whether you have a survey done and what sort of survey you choose will depend on your specific circumstances.
9. Before exchange of contracts can take place your lender will require you to get Buildings Insurance for your new home. You are responsible for the property as soon as contracts have been exchanged so it is in your interests to do so.
10. Signing the contract. Since receiving the draft contract from the sellers solicitor, your solicitor will have have been in correspondence with you about what is covered. Before signing the contract your solicitor will need to ensure:
11. Go to the property with the estate agent and the fixtures and fittings inventory list to ensure that everything you paid for is still there and the house has not been damaged in any way
12. You and the seller will agree on a date and time to exchange contracts at any time on any given day
13. Your solicitor will exchange contracts for you. This is usually done by both solicitors/conveyancers reading out the contracts over the phone (which is recorded) to make sure the contracts are identical, and then immediately sending them to one another in the post.
14. If you are in a chain your solicitor/conveyancer will do the same thing, but will only release it if the other people in the chain are all happy to go ahead. This means if one person pulls out or delays, then everyone in the chain gets held up.
15. Once you have exchanged contracts you will be in a legally binding contract to buy the property with a fixed date for moving. This means that:
16. Your solicitor will lodge an interest in the property which will mean that the deeds to the property are frozen for 30 working days to allow you to pay the seller and lodge your application to the Land Registry to transfer the deeds into your name.
17. The seller will move out (although they may leave this to the day of completion)
18. You should get organized for your moving day.
19. The solicitor will send you a statement showing the final figure to pay, which will need to be cleared into your solicitors bank account at least one day before completion.
20. Completion is normally set around midday on the specified date although in practice takes place when the seller’s solicitor confirms that they have received all the money that is ue. Once this happens the seller should drop the keys at the estate agents for your collection. You can then move in.
21. Your solicitor will tie up some loose ends:
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