FAQs - Buying

Why do I need solicitor or conveyancer?

It is a criminal offence for an unqualified person to draw up or prepare a contract for sale, transfer, conveyance lease or mortgage relating to land for a fee.

What is the difference between a solicitor and conveyancer?

A solicitor is a qualified lawyer, with extensive training in many aspects of law, and can offer full legal services.

A conveyancer has less training, but is specialised in property.

Solicitors always tend to be more expensive than a conveyancer.

Why do I need a mortgage adviser?

Mortgage Advisers do a whole lot more than simply find the cheapest mortgage.

They have specialist knowledge of the lending market.

They guide potential buyers who need to find a mortgage or remortgage, through the huge range of deals.

The mortgage broker offers financial advice and recommends the most appropriate mortgage for the buyer.

They are particularly useful if you are in an unusual position.

  • you rely on irregular freelance earnings
  • you are raising a mortgage on a second property
  • need a bridging loan
  • if you’re looking to invest

What difference between Freehold and Leasehold?

- Leasehold

Ownership to the property, not to the land it stands on. When the lease expires, ownership of the property reverts back to the freeholder.

- Freehold

Outright ownership of the property and land on which it stands.

“No Chain” what does that mean?

‘No chain’ means that the seller of the property will not be making an onward purchase and the buyer has not property to sell.

How long will the legal process take?

Every house purchase and sale is different. The process can take weeks or months depending on several things, such as how many buyers and sellers are involved in the process.

What does ‘Shared Ownership’ mean?

Shared Ownership is a system by which the occupier of a dwelling buys a proportion of the property and pays rent on the remainder, typically New Builds, local authority or housing association.

Do I need a survey?

The purchase of a property is based on the principle of 'Caveat Emptor' or 'let the buyer beware'. In short it means that you should make as extensive an investigation into the property as you are able.

If the house is crumbling to bits and you haven`t had a survey done you are unlikely to any recourse to the seller.

Sold “Subject to Contract” what does it mean?

Sold “Subject to Contract” (STC) means that the homeowner has accepted an offer from a buyer but the paperwork is not yet complete.

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