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Getting a conveyancing expert to take care of the legal side of buying a property is a given element of what you need to consider. However, there are still other aspects to check out, such as what each property offers to you. Here’s a short list of things that every homebuyer should consider:

1) Price

Your budget and the price point of a property is something that should be aligned. Looking at properties that are out of your budget can lead to disappointment when you realise it is unachievable. Researching online is common to give you an idea of what property you can purchase in your budget.

Don’t forget the costs associated with buying a property. You need to consider professional fees like conveyancing costs.

2) Condition

When you’re moving into a property, unless you want a project, you’ll want to ensure it’s in good condition. Renovation costs can add up quickly. Surveys are often done to find out more specific information about the property in question.

3) Space

One thing that homebuyers often forget to assess about a place is the space that it provides. Having a lot more room to work with can be important, even if you’re just living alone. Consider how long you intend to live there and if your circumstances are likely to change for example. If you plan to start a family. 

4) Location

Location can be a key factor when it comes to searching for a property. You want to be located in a desirable and safe area. Being close to local amenities, bars, restaurants and transport links might be important to you. Consider if the property offers everything you want. If not, what are your non-negotiables. 

5) Inclusions

Some properties may be void of any fixtures or appliances in their offer. However, some sellers will offer some fixtures and fittings, these will be disclosed in forms the seller has to complete. 

6) Personal Needs

Lastly, try to answer whether or not a property can fulfil your own personal needs. Some people may need their home to act as a home office or a home gym. Is the property flexible enough to fulfil your needs? 

Conclusion

Homebuyers have their hands full with everything that they have to think about when purchasing a property. The process can be a little tough at times, but contemplating these factors ensures that you end up with a living space that you won’t regret buying.

Need a conveyancer in Swinton? Conveyancing Expert offers excellent conveyancing services for property purchases in the UK. Get a quote today!

Not many people are aware of how remortgaging works, so few people are actually able to take advantage of its benefits. 

In this post, Conveyancing Expert – a trusted conveyancer in Manchester, shares some of the basic information you need to know about remortgaging, including why you should do it and how it works. If this is something you’re interested in, read on, and you’ll definitely find the answers to your remortgaging questions: 

“Why Should I Remortgage?”

When you first get your mortgage, it’s likely that what you’ve signed up for was a really good deal. The problem is, over time, the mortgage market goes through many changes. Newer and much better deals are now available. What that means is that it’s likely that there’s one that can benefit you better today and save you some money. 

Here are some of the reasons why you might want to remortgage: 

To Get a Better Interest Rate

When you take out a new mortgage, you’ll likely be given an introductory deal which will be a low fixed rate or a low tracker rate for several years. Such deals often last for two to five years, depending on the offer of the lender. When that introductory period ends, it’s a good idea to check the market to find out if switching will save you some money. 

To Get a More Flexible Deal

Remortgaging may offer a more flexible deal, like when you want to overpay. You can also do it to switch to a current account mortgage, where you can use your savings to minimize the amount of interest you need to pay. Some even allow you to draw your savings back should you need them. 

To Consolidate Debt

If you have a lot of debt, it might be tempting to borrow the extra money so you can pay off other debts. But even if mortgage interest rates are usually lower than that of a personal loan and significantly lower than credit cards, you might still end up having to pay more overall, especially because it’s going to be a long-term one. 

“Do I Need to Change My Lender?”

Not necessarily. To know for sure if there’s a need to change lenders, you should check with your current one if there’s any arrangement they can offer you. You can ask about the product fees they have on their new mortgages as well as any early repayment charges if you end your mortgage deal early. These expenses can add to the remortgaging cost, so you should really assess if it still makes sense to remortgage after you add these costs. 

“When Should I Consider Remortgaging?”

Well, it’s up to when you want to remortgage. However, if you are not yet at the end of your term, it’s likely you’ll have to pay an early repayment charge. Many choose to remortgage when they reach the end of their fixed-rate term because this is usually when their current mortgage stops being a great deal. 

Conclusion

Remortgaging can indeed be beneficial to many, but to be on the safe side, you should thoroughly check out the costs involved. There are lenders who will offer deals with zero fees to tempt you. However, many do not, and in such cases, you’ll have to pay for the legal, valuation, and administration fees which can be substantial, too. You shouldn’t jump at the first deal you are offered, mainly either. Compare offers and see which one is best for you. 

Conveyancing Expert offers quality conveyancing services in Manchester and nearby areas. Contact our team today to get a remortgage quote or to know more about our services!

However, this is not always the case and if you find a home you want to purchase before you secure your sale what are your options?

Can you buy a new house before you sell your old one?

Are You Allowed to Buy a House before Selling the Old One?

Buying and selling a property can be time consuming and stressful especially if you are in a chain. 

If your next purchase is dependent on the finances being released from your current property you will need to sell it before you can complete on the purchase of your new home. This doesn’t mean you can’t look and put an offer in on your next home but the transactions will be tied together so your current sale and on-going purchase happen at the same time. 

If you are in a financial position where you do not need to sell your current property before buying, then yes you can press on with the purchase. In this case you might be considered a more desirable buyer as you won’t be tied to a chain. 

You do need to consider some downsides. Your purchase will be classified as a second home, so you might have to pay higher stamp duty. Additionally, you’ll have to pay capital gains tax on the new house. And lastly, you have to make sure that you have the financial ability to take out a second mortgage.

Should I Wait to Sell before Buying?

On the flip side, you can also sell your house first before purchasing a new one. However, you should ensure you have somewhere to temporarily stay before you acquire a new home.

The advantage of this decision is that you can take time to find the perfect home for you. There won’t be an onward chain that will pressure you to sell your home, which can appeal to prospective buyers. Overall, the reduction of stress in balancing buying and selling at the same time will also make the process much more manageable for you and your family.

However, aside from the stress of finding temporary accommodation, you must also be ready for the disruption in your day-to-day activities and in effect 2 moves!

Final Thoughts

Buying and selling a property can be an incredibly challenging process but our expert residential conveyancers in Manchester are here to help. Our fast and communicative conveyancing solicitors will guide you along the way and make the process as smooth as it can be. Get a free conveyancing quote today to start, or call us and let’s discuss your plans.

So, you own a home, and you love it, but the time comes that you finally decide to move to a new one. What should you do? It can seem overwhelming when you are thinking about putting your current home on the market and also searching for a new one. With some preparation and careful consideration you should be able to make it much easier. 

Here are a few considerations when looking for a new home.

1. Picking a Home

The most crucial part of buying a home is picking one! To choose the right one, you need to ask yourself multiple questions. For example, are you looking for more space? Are you looking to get nearer the workplace? Do you want specific amenities? These questions will all affect your buying decision, but whatever your priorities are, ensure that you focus on them when you look for a home. Also, when looking for a home, think of the things you might be leaving behind. In other words, think of the gains and sacrifices and weigh up the pros and cons.

2. Dealing With Mortgage

When buying a new home, you’ll likely be taking out a new mortgage. If you still have a mortgage on your previous property, you can transfer it to the new property, but you’ll still need to reapply. If the new home is more expensive than the current home, you’ll probably have to take out extra lending. However, you may have some equity in the previous home you can use to cover some of the expenses.

3. Working With A Conveyancer

Buying and selling a home can be challenging and time consuming due to the legal processes and documents that must be completed. This is where choosing an experienced conveyancer comes in, someone like Conveyancing Expert!

Conclusion

There are many other things to consider when selling your old home and buying a new one, such as getting new insurance, covering stamp duty land tax, forms and documents to complete. All of these tasks are a must-do to ensure the home selling and buying process is a success. Hiring professionals will take the stress out of the process and experts can help speed up the process, meaning you’re in your new home quickly.

Conveyancing Expert offers professional conveyancing services in the UK to help home buyers and sellers enjoy a smoother home buying and selling process. If you are looking for a conveyancer in Manchester, get your free quote from us today!

When buying a new property, conveyancing is the legal process of transferring the property’s ownership from the seller to the buyer. People often ask if they can do this themselves to save on costs. Conveyancers are experts who have dealt with hundreds and thousands of property transactions and faced all types of queries and issues. Using a conveyancing solicitor will ultimately save time and money in the long run. Don’t forget a conveyancer works on your behalf so will be checking to make sure there are no nasty surprises in what is likely to be the biggest investment of your life.

How Conveyancers Speed Up a Sale

On average, one in three home sales doesn’t push through after an offer is made. While the reasons vary, some of them are attributed to delays in the conveyancing process. The problem lies in starting the time it takes to gather all the necessary documents, which could take anything from days to weeks. Your conveyancer might chase you and ask you to complete the forms quickly to speed things up. Some work cannot be undertaken until these documents are complete. 

How Conveyancing Solicitors Work

The steps that conveyancing solicitors take in shaving time off your conveyancing process are as follows:

Formalities

The solicitor will take care of verifications such as IDs and anti money laundering checks. 

Property Information Forms

After the solicitor finishes initial work from their end, you’ll need to accomplish many property forms, such as the TA6 Property information form, the TA10 fixtures and fittings form, and the TA7 Leasehold information form. The last one only applies if you’re selling a leasehold property.

Collecting the Documents

After the Property Information forms are done, supporting documents mentioned in the TA forms need to be gathered. Some of them include planning consents, electrical certificates, insurance documents, and building regulations approvals. As mentioned earlier, getting them all at the ready will hasten the conveyancing process.

Finding Leasehold Documents

If you’re selling a leasehold property, the solicitor can apply to your landlord or freeholder to obtain the management information pack. Getting this information from managing agents can possibly take weeks or even months. 

If you apply for this up-front or you may already have some of the required information and documents. Your solicitor will also review the lease and the leasehold title as a precautionary measure for any legal inquiries from the buyer’s solicitor.

Legalities

Once the offer is accepted and the drafted contract, completed forms, and other documents are complete, they can be immediately given to the buyer’s solicitor. Because your solicitor has reviewed the legalities, they can present solutions alongside possible problems, both of which can affect how long the process will take.

It’s also worth noting that no progress can be made on the sale until the buyer’s solicitor receives the required paperwork. In other words, gathering every single piece of document from your end is necessary if you want to push through with the sale.

Conclusion

A seller alone can do a fair share of the legal work involved in conveyancing, but they would still need the help of a conveyancer to move things along. If you have a conveyancer do the legal work for you, then the sale will be guaranteed since they take care of everything.

Conveyancing Expert has conveyancers in Manchester that can help you with your conveyancing needs. We offer various conveyancing services, be it for sales, purchases, equity transfers, or remortgages. Contact us to get started!

Buying a home is one of the largest financial choices you will make. You may be tempted to go through the process by yourself, but choosing the right conveyancer is actually very crucial. 

Choosing the ideal property in the UK isn’t always difficult, but selecting the best conveyancer to assist you with the transaction might be challenging. You should choose someone based on reputation and not on cheaper referral fees. Online conveyancing is prevalent and is definitely more affordable, but cheaper is not always the best. An online conveyancer may not be easily reachable, causing delays or challenging transitions.

Here are some guidelines in choosing the right conveyancer for you:

1. Get a Licensed Conveyancer

In a routine conveyance, your solicitor will typically do thorough research on the property, assist with any concerns, negotiate the conditions of the conveyance and handle the property’s registration following the transfer. 

It is why you need to ensure you are getting someone competent and licensed to do conveyancing work. 

2. Local to You or the Property You Are Buying

Many clients wrongly assume you must choose a conveyancer in close proximity to you. This is not true as you will never be required to go into your chosen conveyancer’s office. All documents and work can be done remotely and online. 

Clients often choose based on reputation and price as opposed to locality, these are commonly the most important factors for a client when choosing a conveyancer.

3. They Provide Detailed Price Quotation and Comparison

Getting a conveyancing quote enables you to compare. Request a detailed quotation so you can compare costs, including VAT and disbursements, bank transfer fees, HM Land Registry fees and Stamp Duty Land Tax (if payable). Be aware that not all firms disclose all fees upfront, something to be wary of if a quote is significantly cheaper.

4. They Are Diligent with Clear Goals and Objectives

You want someone who can get things done speedily, but at the same time, get things done right. Choose a conveyancer with a good reputation and who provides a detailed set of goals to accomplish, so you are aware of every process.

Get a professional, price-competitive conveyancing service focused on the purchasers’ and lenders’ needs.

Conclusion

When it comes to purchasing a house, a conveyancer ensures that the buyers are content with the property at the time of purchase, that there have been no hidden restrictions and that the property will be easy to sell when the time comes. 

In their role as conveyancers, they must supervise a considerable amount of work that can be examined and double-checked to ensure that everything is correct and that nothing has been neglected. When you choose the right conveyancer, they can help you get the right property and remove a great deal of burden off your shoulders knowing that you’re in good hands.

If you are searching for a reputable and reliable conveyancer, look no further. Conveyancing Expert can assist you with transferring equity ownership of your home for a reasonable fee. Our team of legal specialists provides trusted conveyancing services that guarantee your transaction is completed without a problem. Consult with us today!

When selling a home, you need to deal with a lot of legal stuff, especially when it comes to transferring ownership of the home. Conveyancing is the legal transfer and often takes a min of 12 weeks before the deal becomes legally binding. To help you understand what happens during conveyancing, we’ve created a simple guide for sellers.

Instruct a Conveyancer

The first thing you should do is contact a licensed conveyancer to help you with all the legal work. And finding the right conveyancer is crucial. 

Of course, you should only pick a credible and reliable firm, as they will also be responsible for all other legal work surrounding your property. So, going with just the cheapest option may not always be the best decision for you. 

A fixed-fee service should be considered since it guarantees that you will only be paying the amount quoted at the start. Sometimes some costs need to be added due to information that comes to light during the course of time, these will be added to any fixed fee quote you receive. 

Read the Contract and Fill Out Forms

While the conveyancer will be doing the bulk of the legal work, you still need to fill out some relevant forms. After checking all the paperwork you’ve provided, the conveyancer will then start drafting the contract for your sale. You should go over this contract thoroughly and ask for clarifications from your conveyancer when you encounter something you don’t understand. 

Answer Buyer Questions

During conveyancing, the buyer may have a few questions regarding your property. It is your responsibility to answer their questions clearly and honestly. The buyer may try to renegotiate if any additional information comes to light. 

Exchange Contracts

Once the negotiations are done, you will then exchange contracts with the buyer. These contracts will legally bind you to the purchase. 

After the exchange, there is often a two-week period before the completion dates. This can be increased or decreased if necessary. 

Completion

On the completion date, the buyer will pay the conveyancer the final balance for the home purchase. Completion often occurs on a Friday which many people like because they have a full weekend to move in. 

Final Thoughts

Conveyancing can be overwhelming, especially if you’re not really familiar with all the legal work. But you don’t have to handle it all on your own. By hiring a reliable and credible conveyancer, you can have a smoother and less stressful selling experience.

Sell your home with the help of Conveyancing Expert. We are a licensed conveyancer in Manchester delivering excellent and efficient service to ensure your property transaction is completed with expert legal advice and service. Get a quote now!

When your offer on a home is approved, you should hire a solicitor to start the residential conveyancing procedure. However, because the process often takes a long time, you can opt to select your conveyancing solicitor as soon as you begin your search. This saves time and guarantees that your conveyancing solicitor is ready to act as soon as an offer is accepted.

Before buying a house, read on to discover why it’s important to seek the assistance of a conveyancing solicitor to protect your interests, after all buying a house is one of the largest investments you will make. 

Why Do I Need the Assistance of a Property Solicitor?

A property solicitor will walk you through the legal process of buying a home, ensuring that legal possession is correctly transferred. Conveyancing is a legal term that refers to the process of buying and selling a home.

While legally possible, self-conveyancing a home is risky, especially given that it is likely to be your largest investment. Conveyancing is a complex, multi-faceted process loaded with pitfalls. A knowledgeable conveyancing lawyer can ensure that the essential due diligence is carried out on the property you seek to acquire. Addressing any concerns, advising on essential searches, beginning inquiries, authorising the seller’s contract and supervising exchange and completion are all part of the job. All legal obligations will be met, and your rights will be safeguarded.

What Information Is Required by a Conveyancing Lawyer?

A conveyancing lawyer will require a variety of documents and information when acquiring a home. Preparation should begin during the house-hunting phase so that when an offer is accepted, you are ready to begin the residential conveyancing process as soon as possible. The following are typical documents you’ll need to provide your lawyer:

• Identity verification
• A utility bill or a council tax bill
• Financial documentation
• Proof of property insurance

What Kinds of Searches Should My Lawyer Conduct?

Pre-contract searches reveal important information about the property you’re thinking about buying that could affect its worth in the future. Your conveyancing solicitor will advise you on the essential searches when purchasing a home. There are several searches available, but not all of them are required. The following are some of the most popular:

Local Authority

This search identifies any potential planning permissions or restrictions, as well as who is responsible for the upkeep of adjacent roads and pathways.

Land Registry

This search attests to the legal ownership of the seller and identifies any liens. 

Water Authority

This search will reveal the property’s water supply and drain.

Environmental 

This search will tell you whether the house was constructed on an old landfill, if it is prone to floods or if it is near poisonous water.

How Long Does It Usually Take for a Conveyancing Solicitor to Sell a Home?

Residential conveyancing normally takes a minimum of twelve weeks from the time a transaction is agreed upon and a solicitor is appointed. Your house conveyancing timeline will be influenced by the status of your chain, the intricacy of the sale and any pre-contract queries that require more research.

Is It Possible to Use the Same Solicitor to Sell and Buy a House?

Yes, if you are selling and buying a home at the same time, you should use the same property solicitor. It is guaranteed that the legal conveyancing process will be stress-free.

Conclusion

Are you looking for a residential property solicitor in Manchester? Conveyancing Expert offer superior customer service and a genuine desire to assist you with your new home purchase. Every client benefits from our experience and is pleased with the legal assistance offered by our legal team. We constantly educate ourselves, our clients and any other parties involved in a transaction, all while offering great customer service. Get in touch with our team today!

Being a property owner involves taking on a huge responsibility. Whatever the reason behind your desire to change the name on a property deed, it’s important to update the title deeds to make way for any additions or removal moving forward. 

Circumstances such as marriage, divorce, cohabitation, or even taking part in an expensive gift may drive you to change your property deed, which involves the complex process of transferring the equity (ToE) in your property. 

What is a Transfer of Equity?

As the moniker suggests, a transfer of equity defines the process of adding or removing a person from the title deeds of a property. It’s a different process compared to a sale and purchase since at least one of the existing original owners of the property must remain; that’s why this is often reserved for cases involving separation, a new relationship, joint ownership, or tax efficiency purposes. 

What is the Summary of the Transfer of Equity Process?

Transferring the equity of your property doesn’t have to feel like a complicated chore to handle, especially when you have a conveyancer who can simplify the process for you. While their expert guidance can educate you on these matters, it helps to have a basic overview of the transfer equity process. Here are the simple steps you should know: 

1. If applicable, the first step involves getting a remortgage offer or consent from your mortgage lender if you are still paying for an existing loan;
2. If you plan on removing a party from the property’s title deed, you need to get and verify your ID1 Form; 
3. If you are a leaseholder, you need to confirm the freeholder notice and complete all fees associated with it; 
4. Complete the process. If applicable, you may transfer the money to buy the equity; 
5. After completion, the last phase includes filing the SDLT form and registration at the Land Registry.

What Costs Do You Need to Consider When Transferring the Equity of Your Property?

Your budget for the transfer of equity will vary depending on several factors such as your type of ownership, whether the property is a leasehold, if it has an existing mortgage that still needs to be paid, along with the equity solicitors you plan on working with throughout the process. Generally speaking, the fees you need to take into account include the following:

• Solicitor fees 
• Land Registration fees
• ID1 Form verification fee, if a party is being removed from your title deed;
• Change of mortgage fee, if there is still an existing mortgage;
• Notice fee to the freeholder, if you are a leaseholder;

The Bottom Line: Understanding the Transfer of Equity Process

Transferring your equity is a complicated process that can take between four to six weeks to complete, but having a professional solicitor can ensure you go through all the changes as stress-free as possible. 

How Can We Help You?

Are you looking for a conveyancer in Swinton? If so, you’ve come to the right place. 

Conveyancing Expert is your legal expert that delivers excellent and efficient services to help protect your property transaction until it’s complete. We make sure that we’re with you every step of the way, offering fantastic legal advice and services.

Get a free and no-obligation quote from us today!

After a bumpy 2020 for the real estate industry, the latest property market figures show that residential listings and purchases rose to pre-pandemic levels early in 2021, culminating in a 66 per cent increase in property completions compared to March 2019 to March 2021. 

With buying and selling properties subjected to some restrictions, how has the real estate market achieved such numbers? And how will these practices be implemented in the long term to make conveyancing more efficient?

Here are some of the factors that played a part:

1. Technology

Digitising the conveyancing process was crucial in dealing with the surge in transactions. For the first time in 2020, Land Registry began accepting electronic signatures for transfers of property ownership. This was a revolutionary move to the digital age, where agents and buyers are encouraged to work with Covid-secure conveyancers.

On average, a sale takes about 28 days, from the agreed deal to the conveyancer onboarding the client and completing all forms. However, this was reduced to five days when conveyancers used fully automated digital platforms. 

Digitising the processes gave conveyancers the ability to provide online quotes, onboard clients, order searches, complete ID checks and sign documents digitally. It effectively speeds up entire transactions, and more real estate agents are embracing the change.

2. Communication

Aside from practical and legal processes related to conveyancing, prioritising communications has always been crucial in moving the transaction. While UK lockdowns resulted in the need for professionals to work flexibly, use technology and communicate virtually, it also transformed into working practices and communication with clients.

Conveyancers had to learn when to communicate progress to let the process run smoothly, keep customers calm, manage expectations, and stay positive. Moreover, the need to work to a deadline also contributed to making all parties work towards a common goal.

3. Buyer Participation

Moving house is considered a stressful time in one’s life without guaranteed timelines. On average, a move takes over 20 weeks but can vary significantly with the properties involved. 

While much of the timeline will be handled by the solicitors, buyers still need to play their part in helping the process move forward efficiently. 

An analysis of the UK property market showed that most buyers and sellers would only instruct a solicitor once an offer has been accepted. However, it has long been found that instructing the solicitor early on in the transfer process to ensure they are compatible with the lender is crucial to make the entire transaction smooth-flowing. 

In the 20 weeks average that a transaction takes place, every second counts to ensure that completion of the transaction is achieved without significant delays. That makes it crucial for solicitors and estate agents to play their part in educating consumers and helping them make informed decisions. 

Moreover, being organised with finances and paperwork also speeds up transaction times, lowers fall-through rates and sends the conveyance process off to a good start. 

Conclusion

While the last year and a half of the pandemic might not have been the residential property sector’s best conditions, it has shown an ability to adapt to different market conditions, buyer behaviour, and technology. Now, some of these working practices are here to stay.

At Conveyancing Expert, we deliver excellent and efficient service to ensure your property transaction is completed with expert legal advice and assistance. We are dedicated and honest and work following our culture statement to ensure that every client benefits from our expertise and is delighted with the legal service provided. Through the entire transaction process, we’ve got you covered. Call us today at 0161 794 7799 to get a free conveyancing quote!