Do you have a question about a property transaction? Buying a house or a Remortgage? See our answers below to the most frequently asked questions we're asked. Something you can't find? Don't hesitate to get in touch - our friendly team will be delighted to help.
What do you need in order to buy a house?
The steps include: Getting your finances in place (you might make use of a mortgage broker); Making and offer and getting it accepted; Arranging a mortgage; Hiring a solicitor or licensed conveyancer; Deciding on a survey; Arranging a deposit; Exchanging contracts; Final arrangements and negotiations; Completing the sale; Taking position of your new home; Paying stamp duty; and then finally. Settling up with your solicitor or conveyancer.
What is conveyancing? Do I need a solicitor to buy or sell my house?
In law, conveyancing is the transfer of legal title of real property from one person to another. Yes, the conveyancing process must be completed by a conveyancing solicitor or licensed conveyancer.
Do I qualify as a first time buyer?
In light of the HMRC’s recent changes to qualify as a first time buyer you must have never previously owned a property in or outside of the UK.
What is remortgage? How does remortgaging work?
Remortgage is when you take out another or different kind of mortgage on a property. The process of remortgaging does not usually involve moving home or taking out a second mortgage on the property; it is in effect the transfer of a mortgage from one lender to another, to lock in a better rate.
What is a bridging loan?
Bridging loans are a short-term funding option for property transactions. They are used to 'bridge' a gap between a debt coming due and the main line of credit becoming available. Or they can simply act as a short-term loan in pressing circumstances.
What is equity release on a house? How does it work?
Equity release is a way of releasing the wealth tied up in your property without having to sell it and move to another home. Equity release is designed to help older customers who either own their property outright, or have relatively small mortgages left to pay.
Lynne is a licenced conveyancer with over 20 years’ experience. Since joining the company as a Fee Earner in 2005 Lynne quickly became a Manager and then in 2012 became Head of Property.