The conveyancing costs are the same whether you’re a first-time buyer or have owned a property before. However, if you’re buying your first home, there are no concessions or penalties for you.

It is important to note that there may be extra costs if you’re purchasing a house with money from a Help to Buy ISA or through a shared ownership plan.

Purchasing or selling a property is one of the most significant financial transactions you will ever make. The consequences of making a mistake in this area may be both pricey and unpleasant, owing to the financial and legal factors involved with transferring property. A qualified conveyancer can assist in safeguarding your assets by handling your property transfer.

In addition, a competent solicitor is well-versed in the law governing property deals and is legally obligated to maintain professional indemnity insurance, allowing them to share their expertise on other areas connected to your property transaction that may come up.

Searches are done on several statutory authorities in the course of an inquiry. If you’re taking out a mortgage to purchase property, your lender will demand that numerous inspections be completed before it will advance any money.

Even if you aren’t taking a mortgage, we strongly encourage you to do your own searches since once you buy the house, you will be bound by any issues that affect it and would have been uncovered by those searches whether or not you were aware of them.

The following are examples of common searches we may conduct:

Water Authority Search

This is investigated by your local water and drainage firm, which will reveal if the property is connected to mains water supply and drains and whether a water meter has been installed.

Perhaps more significantly, it will show whether any main sewers run adjacent to the property or through the garden because if they do, it may have an impact on what you’re able to accomplish with extensions and garden planting.

Bankruptcy Search

If you take out a mortgage, the lender will want to ensure that we can confirm that you aren’t bankrupt and that you aren’t going through bankruptcy proceedings. The lender will check if you have declared bankruptcy, and if so, they’ll want proof that it’s been dismissed.

Environment Search

This search finds any environmental issues that may endanger the property, such as potential flood risks, landfill sites, potentially polluting businesses in the region, and so on.

Local Authority Search

This is accomplished with the local Council and includes details such as whether the home is classified as a listed building and any planned road or traffic projects in the region. It also checks if it’s in a conservation area, whether there are any violations of planning permission, whether planning permission has previously been granted for extensions and modifications, and whether the property is vulnerable to radon gas.

Land Registry Search

This is done to ensure that no one has registered a claim against the property between the seller’s lawyers delivering copies of the title and the exchange of contracts date.

It also helps in preventing any new land registrations from being recorded for a number of weeks, making it impossible to register anything unfavorable to the buyer.

If you’re taking out a mortgage, your lender will want a valuation, which isn’t a survey and is done for the lender’s benefit rather than yours. It’s usually a good idea to conduct your own survey. Your lawyer may suggest a competent local surveyor.

No, unless you have an exceptional circumstance. You will be responsible if things don’t go as planned. Therefore, before agreeing to exchange contracts, ensure that all appliances, central heating systems, and other infrastructure are in good functioning order. It’s possible that you may be eligible for compensation if property damage has been done. If the seller leaves furniture or trash on the premises, he violates the contract since “vacant possession” hasn’t been given.

Typically, a contract will offer you the option to purchase insurance on the spot after the exchange of contracts. It’s a good idea to compare rates on buildings and contents insurance, as well as find recommendations from your solicitor during the period before completion.

This is because all solicitors are required by law to verify the identities of their customers to prevent mortgage fraud and money laundering.

A lease extension is a legal agreement that extends the terms of an existing commercial or residential lease between tenants and landlords. Leasehold properties are generally flats, although they may also be houses.

The entire leasehold extension procedure may take anywhere from three to twelve months, but with the aid of conveyancers and professional valuers, this time can be reduced drastically.

Yes. You may establish a trust deed, which is a legal document, to keep track of who paid what and what would happen if the property was sold or you divorced.

Upon settlement, the Council, water providers, and the Valuer-General are immediately notified of the transaction when your transfer papers are submitted for registration. However, various third parties service providers will need to be notified.

If you’re purchasing a house together with someone else, legal arrangements can be made so that each of you benefits from inheritance tax exemption, which may help avoid paying taxes on the property’s worth when you die. Contact your lawyer about a “nil rate band discretionary trust.”

No. If the house you occupy as your primary residence is sold, you are not subject to Capital Gains Tax. You may choose which property receives the exemption if you own more than one home.

On completion, you will be granted access to your new home. You’ll move out of your old house as a seller and receive the keys to your new residence from your conveyancer as a buyer.

This depends entirely on the parties’ negotiations, which can range from simultaneous to many months apart. It should be long enough for the parties to negotiate practical arrangements, and it is generally a minimum of two weeks.

A conveyancer is someone who helps you buy or sell the property by completing all of the legal paperwork, arranging inspections, and ensuring that all rules are followed.

There are a number of things to consider, such as having mail redirected as soon as possible and changing your driving license to match your new address. Also, take meter readings and notify all utility providers.