Post Tagged with: "Conveyancing"

Two Simple Ways to Ensure a Smooth Home Buying Process

May 3, 2018 at 8:06 pm Comments are Disabled

 conveyancing solicitors quotesBuying a home can be a lengthy and tedious process. In the UK, the whole process might take six weeks or even months. But with adequate planning and preparation, you can make the process smoother and quicker.

One of the best things you can do is to seek the help of a conveyancing solicitor. Fortunately, innovative technology lets you compare quotes from solicitors at the click of a button before making a choice. Given the amount of paperwork and possible legal issues involved, hiring one helps you to speed up your home buying process. Here are two other smart moves you should make:

Do not overlook the fees.

Typically, home buying fees fall into two categories—before and after completion costs. These fees range from hundreds to thousands of pounds. It means that they tend to add up fast to a substantial amount. But you do not have to cover all fees upfront, as some lenders opt to cover some of them. Despite some of these services carrying high price tags, such as valuation, resist the urge to skip them.

Do not settle for expensive money.

It is no secret that putting up a substantial deposit keeps your mortgage rates low and affordable. However, this is not the only money issue you need to address. By default, most people tend to approach their banks when in need of a mortgage believing it will give them the best deal. Unfortunately, this is not the case. You are likely to get better rates from independent mortgage lenders out there, so take the time to conduct research. A difference of one percent in mortgage rates can translate to substantial savings over the loan’s lifespan.

Buying a home is a delicate process that requires you to tread with a lot of care. With the right approach, you can get your dream house quickly and smoothly.

Buying or Selling Property? Here Is What’s Included in a Property Conveyancing Quotation

April 2, 2018 at 6:34 pm Comments are Disabled

Couple signing a contractBuying or selling property comes with many costs. Apart from the actual buying or selling price of the house, you need to factor in professional fees in your transaction. One of the key professionals in your estate transaction is a conveyancer or conveyancing lawyer.

These professionals will handle the legal aspects of your transaction. You will sift through various quotations to get one that fits your budget.

There are multiple costs included in a property conveyancing fees quotation. Here are some of these typical costs.

Professional Fees

These refer to the initial fees you pay your professional. A conveyancer’s fees are typically lower compared with a solicitor’s. Some conveyancing firms run special promotions on special occasions, and you might be able to negotiate lower professional fees during these periods.

Disbursement Fees

These are the costs your conveyancer or solicitor needs to pay third parties. Disbursement fees typically include property searches, planning, council building, water rate and land tax searches.

The costs vary depending on the extent and number of your property searches. A settlement, anti-money laundering, and property fraud costs are some of the other disbursement fees you might have to pay.

Statutory Charges Quo

When buying property, you might need to pay transfer fees and stamp duty depending on your state laws.

The conveyancer or solicitor you choose will check your title and revenue office and inform you if there are any concessions or exemptions available. Sellers selling investment property typically pay capital gains tax on their properties.

Your conveyancing quote might also include adjustment fees, which could include water and council rate adjustment fees. The buyer is to pay this, but if the seller pays them, the buyer should reimburse them at the time of closing of the transaction.

Other conveyancing adjustment costs include discharge of mortgage, body corporate and licence fees.