The
Friendly Professionals
Our home ownership package is provided by highly skilled professionals
with vital experience in legal matters, and with key organisational abilities.
We will help you not only with the house buying process, but also we
can assist with:
Appointing
Estate Agents
Appointing
Surveyors
Mortgage
Arrangements
Specialist
Reports
Title
Indemnity
Home
is where the heart is...
...but it is also a major investment. We will do our best to ensure that
your move is as trouble free as possible. We take the strain and save
you the pain!
Mortgages There are
numerous mortgage lenders each offering several different
types of mortgage package. There are variable rates, capped
rates, fixed rates, discounted rates, foreign currency rates
- the list is endless, but what is common to all is that if
the loan is not repaid, the lender will have the right to take
the property from you and sell it. We will give you independent
advice on the obligations which your selected mortgage package
imposes, to help you reassure yourself that the package you
have selected is right for you.
.
In
a flat spin? Buying or selling flats tends to be rather more complicated
because there will usually be a lengthy lease to check; usually
coupled with documentation for management companies, service
charges and insurance arrangements.
The
Process
The
work involved in buying or selling property has many aspects
but the main areas which we will be dealing with on your
behalf are as follows:-
Supplying
information for your Buyer or obtaining similar information
from your SellerCarefully
checking the terms of the Contract and the Title to the
propertyEnsuring
that the Sellers are in a position to sell the property
to you/making arrangements to satisfy your lender that
the property is suitable as securityAgreeing
Contract termsSigning
of Contracts and Deeds, agreeing completion datesMaking
pre-completion checksObtaining
mortgage monies/redemption figuresAttending
completion
Arranging
for registration of the transaction with HM Land Registry
In
the case of a purchase the lender will send the loan monies
to us, and we will collect the balance from you, to enable
the full purchase price to be paid to the Seller on legal
completion.
The
Cost
All
our clients are provided with a formal estimate of the
total projected cost of the transaction, when we first
receive instructions. The cost is divided into two parts,
there are our fees, and there are sums of money paid out
by us on your behalf, called disbursements. Usually in
a purchase transaction, we will ask you for a modest payment
on account to cover the cost of the search fees which we
incur on your behalf. The remainder of the costs will be
due and payable on or before final completion.
The
main disbursements are:-
Search
Fees. These are fees paid to check that the property
complies with such regulations as planning and building
control; and that the Local Authority has no proposals
which would adversely affect your enjoyment of the property.
In certain cases, mining searches (typically in this
area, coal and gypsum) reveal whether or not subsidence
may have affected the property in the past, or is anticipated
in the future.
Registration
Fees. Each transaction is registered by the Land Registry
to keep the Title Certificate to each property fully
up to date with details of the current address of the
property, the full names of the new proprietors, and
the particulars of any lender.
Stamp
Duty. This is a government tax on property purchases
(not sales). The rates of duty may change from time to
time, but in most cases will be at least 1% of the purchase
price.
The
Friendly Professionals