Buying a new home is an exciting time but can also be quite daunting as there is a lot of legal paperwork to sort out.
Through this article, our panel solicitors Direction Law give you an idea of what takes place in the conveyancing process and the timescales involved.
When you buy a house there are normally several people involved - an estate agent, developer or housing association, a mortgage broker, a surveyor, a mortgage lender and a solicitor. Everyone involved in the process is working towards the same goal - to get you moved.
Watch the video below to help prepare for your buying your home and get up to speed with the conveyancing process and expected time frames involved.
When purchasing a property, there are many steps before you reach the celebratory 'completion stage'.
Between exchange and completion, your solicitor arranges for the lender to send them the mortgage monies and collects the final balance due from the buyer.
On the day of completion, the money is sent to the seller’s solicitor and at the point, it arrives the purchase officially completes. The seller’s solicitor calls the agent to release the keys and then you can finally move into your new home.
A lot of research and planning is required when buying a home, and it is important to find a solicitor that is open and easy to communicate with. As long as you're made aware of what is to come at each step, the process can be smooth sailing. Our explanation within this video helps to break down the conveyancing process and has hopefully equipped you with the information needed to plan for your move and enable the buying process to move forward as stress free as possible.