Conveyancing

Purchase Guide

 

Step 1

We receive the information from the Estate Agents that the property has been sold. The Sellers Solicitors provide us with the Contract documents including the title to the property and the Property Information Form and Fittings and Contents Form. We raise our initial enquiries and apply for searches. We will also receive your mortgage offer.

 

Step 2

Once the searches have been received and all enquiries answered by the Sellers Solicitors we will obtain your signature to the contract documents. We will then agree a completion date between you and the Sellers and request your mortgage funds. We will also ask you to supply us with any deposit monies that are due.

 

Step 3

Exchange of contracts takes place which means you are legally committed to proceeding with the purchase. You must insure the property from the exchange date. Completion will then take place on the completion date where we will send the balance of the monies to the Sellers Solicitors. You can then collect the keys from the Estate Agents.

 

Step 4

We will pay any Land Transaction Tax due and register the property with the Land Registry. Once we have the Office Copies confirming your ownership of the property we will send a copy to you and your mortgage company.

 

How long will the process take?

It typically takes between six and twelve weeks to complete the purchase of a property between Step 1 and Step 3. This is only a rough estimate as the process will be dependent on a number of factors including the length of the chain, the receipt of your mortgage offer and how long your searches take. Purchases of leasehold properties typically take longer than freehold properties due to the need to obtain information from the freeholder and/or management companies.

 

Sale Guide

 

Step 1

We receive the information from the Estate Agents that the property has been sold. We ask you to complete the Property Information Form and Fittings and Contents Form and provide us with details of any mortgage on the property. We will send the Contract documentation to the Buyers Solicitors.

 

Step 2

When the Buyers Solicitors raise queries with us we will ask you to answer them. We will confirm how much is outstanding on any mortgage on the property. Once the Buyers Solicitors are satisfied with all the answers provided we will then agree a completion date between you and the Buyers.

 

Step 3

Exchange of contracts takes place which means you are legally committed to proceeding with the sale. Completion will then take place on the completion date where we will pay off any outstanding mortgages and the Estate Agents fees and send the balance of the monies to you. The keys must be taken to the Estate Agents.

 

How long will the process take?

It typically takes between six and twelve weeks to complete the sale of a property between Step 1 and Step 3. This is only a rough estimate as the process will be dependent on a number of factors including the length of the chain, the buyer being in receipt of their mortgage offer and how long their searches take. Sales of leasehold properties typically take longer than freehold properties due to the need to obtain information from the freeholder and/or management companies.

 

Re-mortgage Guide

 When we receive your mortgage offer we will report to you on it. We will also obtain office copies and a redemption figure from your current mortgage provider. We will check each Lender’s requirements as they differ between lenders, for example if any searches are required. We will obtain your signature to the mortgage deed and draw down the mortgage funds. We will redeem your old mortgage and register your new mortgage with the Land Registry.

 

How long will the process take?

A typical re-mortgage takes between 3 and 6 weeks. The exact timescale will depend on such matters as receipt of the mortgage offer, confirmation of the amount outstanding on the current mortgage, the individual lender requirements and whether the property is freehold or leasehold amongst other matters.