Deciding to move on from a current property onto another is a big decision and one that you’ll need the very best of help with to make the transition as smooth as possible. Mortgage property lawyer/solicitor’ jobs are to help you do just that.
If you, like most people, are someone who requires a mortgage to help complete the purchase of a new property, you will be committing to years of monthly repayments of which will have added interest.
When you put an offer in on a new property with an estate agent, they will ask for the details of your house conveyancer, who will be there to take care of the legal aspects involved in your move. This includes everything from the land registry to the drawing up of contracts and transfer of monies.
Finding a reliable mortgage property lawyer/solicitor can be the difference between a smooth transaction and a messy one, so it’s crucial that you do your research to find the best mortgage solicitor for you. In this blog, we’ll talk about the best ways to find a mortgage solicitor and what’s involved in the legal process when you move properties.
Talk to friends and family
Personal experience can help you to make a decision on choosing a mortgageproperty lawyer/solicitor. If you have friends or family members that have recently moved house in the local area, it’s worth asking them about their mortgage solicitor and if they can recommend them. It can be daunting to trust your intuition when making a decision on a solicitor, especially as they will be handling all legal aspects of your mortgage. When you use recommendations from trusted friends and family, you can have peace of mind that you’ll experience good service just as they did.
Ask your estate agent
Estate agents regularly work with mortgageproperty lawyer/solicitor, so they are likely to be aware of the best companies in the local area and might be able to recommend you one to use.
Don’t make a decision based on price
The process of moving house involves a lot of legalities, so you’ll need the best people to complete the job. The company you choose will be responsible for all legal aspects of your property purchase, therefore, the price should not be the deciding factor when it comes to making your decision. This isn’t to say that a high price equals a better service, but you should avoid basing your decision wholly on price.
Ask if they can meet completion dates
Ideally, you will want a mortgageproperty lawyer/solicitorthat has the time to work on your case. A lot ofproperty lawyers/solicitors can become too busy and it can feel as though they are not in any rush to get your mortgage completed. If possible, you should tell them your estimated completion dates and ask if they will be able to help meet these dates.
What does a mortgageproperty lawyer/solicitor do?
Draft contracts
Your property lawyer/solicitor will first draft a contract and document to establish which aspects of the purchase need to be investigated. This includes establishing whether the property is a leasehold - someone else owns the land on which your new home is built, or freehold- where you will own the property and the land it is built on outright.
Property Search
Property searches are necessary for you to establish any hidden features of the property that you weren’t aware of. This can include anything from what is beneath the property to limits against you building an extension, to new builds planned around the property. In short, it is a search to determine any facts about the property so that you are aware of what you are buying before you commit to the purchase.A mortgageproperty lawyer/solicitorwill also look over the questionnaire that the seller of the property will have had to complete during the sales process. The questionnaire will ask the seller a series of questions about the property and the answers will be looked over by theproperty lawyer/solicitor. This includes everything from; parking and any boundaries the buyer would be unaware of to fixtures and fittings and the EPC certificate.
Legal Advice
Your mortgageproperty lawyer/solicitorwill be able to offer any legal advice related to the purchase of the property when you need it. For example, if you are selling your current property, or if you are a first-time buyer looking for some advice on how to purchase a home using the government-backed Help to Buy Scheme.
Contracts
Once you have agreed on the terms of engagement with yourproperty lawyer/solicitor, that is, the costs involved in their service, they will begin to contact the solicitor of your new property’s seller.
Contracts will be drawn up once the property has been searched and any surveys have been carried out. You will then be able to finalise a preferred completion date.
Transfer of equity
Once the contracts have been exchanged, yourproperty lawyer/solicitor will issue you with a final statement that you will need to pay. They will then transfer the amount to your seller’s solicitor and only when these funds are received will both parties confirm the sale of the property. Once confirmed, your estate agent will be allowed to release the keys of the property to you.
What else can they help me with?
Remortgaging of a house
Whether you’re investing in a business project, planning an extension or saving some money for your children’s education, you might consider remortgaging your home to release some funds. This can be a daunting prospect and one in which you might benefit from some advice. By hiring a mortgageproperty lawyer/solicitor, you can get the legal advice you need to make the transfer as smooth as possible. They will also be there to run through all the fine-print details specified in the mortgage agreement so that you are completely aware of the process and any legal terms that come with it.
First-time buyers
For those purchasing a property for the first time, having an expert to help guide you through the process is highly beneficial. Along with purchasing a house comes a lot of legal obligations which can be tricky to navigate. With a propertyproperty lawyer/solicitor, you’ll have expert guidance on how to purchase your first home. Whether that’s using savings or using help from the Help to Buy scheme.
Commercial mortgaging
A mortgagingproperty lawyer/solicitordoesn’t just assist with the process of a domestic house transfer. For businesses looking to sell their office in order to upgrade to a property with more space, your mortgageproperty lawyer/solicitorcan check through the fine print of the legal details, property contracts and paperwork to give you a clearer idea of everything involved in the transition.
Andrew Lee & Co: Reliable mortgageproperty lawyers in Maidstone
At Andrew Lee & Co in Maidstone, we have an expert team of mortgageproperty lawyer/solicitoron hand to help you with your commercial or domestic mortgage. Everyone wants the process of buying a new house to be as stress-free as possible, and our aim is to help that to happen.
We know that money is important, especially during an expensive event such as moving house. That’s why our property lawyers provide you with free fixed quotes for added convenience.
If you’re looking for a mortgageproperty lawyer to help with your next property move,get in touchtoday.
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