Buying a house

Buying a House - Process

• STEP 1 - The buyer will instruct a Solicitor / Conveyancer to act on his or her behalf
  • • To begin the process, you will provide initial instructions to a Solicitor or Conveyancer to act for you. Instructions should normally be confirmed to you in writing, together with written information relating to the costs of the matter.
    • We will then ask you to provide proof of your identity, ask you to complete initial paperwork and ask you to send funds to us for any searches you wish to be carried out on the property, for example, a Local search which shows entries kept by the Local Authority which directly affect the property searched against.
• STEP 2 - Receive draft sale contract and supporting documentation
  • • The seller’s Solicitor will prepare initial documentation and send this to us, for us to investigate.
    • The initial documentation will include: Official Copies (registered at HM Land Registry), questionnaires relating to the property and any other relevant documents for that property.
• STEP 3 - Searches and investigating the property title
  • • Searches against the property will be carried out.
    • The documents received from the sellers Solicitor will be reviewed.
    • In the event we have any queries about the property we will contact the seller’s Solicitor for their response. The sellers Solicitor may refer the query to the seller. This can be a lengthy process depending on the number of queries we raise.
• STEP 4 - Reports
  • • Once we have received the results of your searches and replies to our enquiries, we can then prepare a report on the property and send this to you along with your mortgage offer (if applicable).
    • We will prepare a ‘completion statement’ stating the total amount due from you.
• STEP 5 - Sign paperwork
  • • Once you are happy with title to the property, all information supplied, search results and funding, you can then sign relevant paperwork.
    • We will discuss a completion date (i.e. moving date) with all parties involved.
    • You will transfer the deposit to us, usually 10% of the purchase price, to prepare us for step 6 below.
• STEP 6 - Exchange of contracts
  • • Written contracts will formally be ‘’exchanged’’ – both parties will be legally committed to the transaction.
    • Your deposit will be sent to the seller’s Solicitor and the completion date (i.e. moving date) is set.
• STEP 7 - Completion date (moving date)
  • • You (or your mortgage provider) will have transferred the remaining money to us.
    • We will then transfer the remaining money to the sellers Solicitor and the sellers Solicitor will pay the sellers mortgage on the property.
    • The seller will move out of the property and you are able to move in.
• STEP 8 - After completion

  • We will:

    • Pay any stamp duty that is payable by you (if this has been agreed);
    • Register you as the new owner of the property at the Land Registry;
    • Send you the updated Official Copies once received from the Land Registry.