Help and Advice

Remortgaging is a good option for people looking for a lower interest rate or a more competitive product, who want to consolidate short-term debts into their mortgage repayments, or release equity to finance another purchase such as a car, holiday or rental investment. But is a conveyancer essential for a remortgage?

Many people decide to sell their house for many different reasons; to move to a new city, start a family in a bigger home, downsize or simply because the pandemic made them reevaluate their living space.

Conveyancing covers the legal and administrative processes by which the ownership of a home is transferred safely from one person to another. It is our intention to ensure that your move proceeds smoothly and that ownership passes from the seller to the buyer. It is important for all parties concerned to have some understanding of the conveyancing process.

Conveyancing searches, also known as property searches, are enquiries into a property you plan to purchase to identify more information and potential risks. Your conveyancer will conduct these searches with public authorities at the start of the conveyancing process.

Conveyancing usually takes 8-12 weeks to complete; however, this can vary depending on your situation. Delays can occur when both parties are not as responsive or proactive. Delays are also common in cases where the purchase is part of a divorce case or a leasehold property.

Conveyancing disbursements are payments or taxes that need to be made to a third party by your solicitor on your behalf as part of the home-buying process. The disbursements will be clearly set out in a quote issued by your conveyancing solicitor and will be listed alongside your conveyancer’s legal fees. The disbursements will then later be added to your bill for you to reimburse them.

A property chain involves a connected group of home buyers and sellers where there is more than one buyer involved. A property chain occurs when you want to buy a house but have to wait until the seller buys and moves into their next home.

Staircasing means increasing your ownership of the Shared Ownership property. So, if you already own a Shared Ownership property, you are entitled to buy additional shares in your property from the Housing Association. This is usually in blocks of 10% or more and is known as “staircasing”.