When buying any type of house, it is important to have a conveyancing lawyer on hand to get you through the process quickly and smoothly. Our highly qualified team have expertise in all areas of property law, ensuring that you have the correct guidance and support from the second you make your offer, right through to the moment that the keys to your new property are in your hands.
At Lovedays Solicitors, we can offer specialist advice on conveyancing matters and provide a no-obligation fixed quotation for your requirements over the phone or via email, so get in touch with one of our experts today.
Why You Need a Solicitor for Buying a House
Buying a house is probably the biggest financial commitment you will ever make, so it is important that have expert help throughout the process. A conveyancing solicitor can ensure that all legal requirements have been met on both sides to ensure that everything about your purchase goes to plan.
We have helped our clients to buy many different types of property across Derbyshire, and so we are aware of the intricacies of the process and any pitfalls that may occur. With our expert conveyancing solicitors by your side, we can help you to understand everything that is happening, offer you advice and make sure all elements are correct every step of the way to avoid any unnecessary delays and costs.
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The Role of a Solicitor in the House Buying Process
A conveyancing solicitor takes on many different tasks when buying a house, but one of the most important is conducting searches against the property, as this can help to satisfy your mortgage lender as well as giving you peace of mind. These searches cover any planning issues and permissions that might affect the property, such as restrictions on how you can use or improve it. There may also be other searches to carry out, such as ones for mining, flooding and contaminated land. We can then help you to understand the results of the searches and alert you to any matters that might be concerning.
We will also help you to work through the contracts that need to be exchanged when buying a house. We will check and amend the contract and fittings and contents form that is put together by the seller’s solicitor, as well as inspecting the title of the property, such as the title deeds or copies of the Land Registry entries, as not all of the properties in Matlock are registered. We will alert you to anything that might affect you or the property, such as easements or restrictive covenants. In the case of leasehold properties, we will inspect the lease and maintenance arrangements. When all of this has been relayed to you, we can raise any queries and help you to deal with the results of those questions.
If you are buying your property using a mortgage, we will also go through the terms provided by your mortgage lender and explain anything within the mortgage deed that you might have questions about.
Once all enquiries have been completed and you are happy to go ahead with the purchase of your property, we can exchange contracts with the seller’s solicitors, set the date for completion and organise to transfer the funds you provide to pay your Stamp Duty Land Tax on your behalf.
How to Find the Right Solicitor for Buying a House
When it comes to finding a conveyancing solicitor for your property purchase, it is important to find someone that you trust. Make sure that they are fully qualified in conveyancing and that they are experienced in dealing with the type of property that you are looking to purchase. Ask friends and family for recommendations of solicitors that they have dealt with and look online for reviews. Your estate agent may also be able to recommend a conveyancing solicitor for you to use.
Whichever solicitor you choose, make sure that they are members of the Law Society of England and Wales, the Law Society’s Conveyancing Quality Scheme and the Council for Licenced Conveyers.
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The Importance of Hiring a Local Solicitor
When choosing a conveyancing solicitor, it is important that you choose someone who is local as well as experienced. A local solicitor will have in-depth knowledge of the local property market and any laws and procedures that might be common to the area. This will help them to navigate any issues that might arise, and they may also have access to local resources that can help to make the purchase process a smooth one.
A local conveyancing solicitor should also have good working relationships with other estate agents, surveyors, lenders and solicitors, ensuring that lines of communication are always open, and matters can be resolved quickly and easily.
Top Reasons to Choose Our Services
At Lovedays Solicitors, we have 100 years of experiencing in offering a first-class service to every single client. With offices in both Matlock and Wirksworth, we can combine vast amounts of local knowledge with the latest legal practices and the very best technology to ensure that your house purchase is dealt with professionally and personally by an expert in the field.
We pride ourselves in our friendly, face-to-face service and the transparency of our fees, meaning that we are easy to work with and you can be confident in the solicitors that you are working with.
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Understanding the Types of House Buyers
There are many ways that you might wish to buy a house, and this could be on your own or with someone else. Buying a property jointly might involve an even or uneven share, and so it is vital that you get the right advice. We can help you decide whether you should be joint tenants who have an equal share of the property which will pass to the other person if something were to happen to you, or if you should be tenants in common. In this case, the shares in the property will be unequal, and you will be able to put your share into a will or allow it to be inherited by your children.
As we have an in-depth understanding of all types of house buyers, we can advise you on the best approach for your individual situation and help you to draw up any necessary documentation.
Available Schemes for House Buyers
Buying a house is sometimes tricky and often expensive, which is why it is important to be aware of any available schemes that may offer a little help. At Lovedays Solicitors, we keep on top of any new initiatives brought out by the government so that we can advise you accordingly.
Lifetime ISA’s can help you save up to £4000 a year towards buying a house, with a 25% government added annual bonus, whilst the Help to Buy Equity Loan is available to help first-time buyers purchase a new build property within the relevant regional price cap. In addition to this, there are also Mortgage Guarantee, Right to Buy and Shared Ownership Schemes that might be able to help you. Buyers with disabilities or those over the age of 55 can also benefit from some specialist schemes.
One of our experts will be able to talk you through all of the help that is currently relevant to your situation.
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When to Hire a Solicitor for House Purchase
It is important to hire a conveyancing solicitor for your house purchase as soon as the offer you make on a property has been accepted. It is possible to instruct a solicitor before you do this, as it can save valuable time and show the sellers that you are a serious buyer – something which could give you an edge over the competition.
Costs Involved: Solicitor Charges and Stamp Duty
When buying a house, it is more than just the property price that you will need to pay. Stamp Duty Land Tax will need to be paid for any property worth more than £250,000, and the amount you pay will depend on how much the property is worth, how many properties you own and whether you are eligible to claim any kind of relief.
You will also need to pay solicitor charges, which cover both the legal fees of the work that is involved and the disbursements that need to be paid for services such as searches. At Lovedays Solicitors, we can give you a no obligation quote so that you can be clear on exactly what you will need to pay.
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The Timeline of the House Buying Process
The timeline of any house buying process will vary depending on the current market and each individual set of circumstances. Currently, the national average is around 15 weeks from the acceptance of an offer to the completion day. You will need to start by getting a mortgage Agreement in Principle, which can take as little as 24 hours once you approach a lender.
You will then need to spend time finding the right property for you, which could take hours, weeks or even months. Once you have made an offer on the property that you want and had it accepted, you will enter the pre-contract stage which can take anything from 4 to 12 weeks and will lead up to the exchanging of contracts, where a completion date will be agreed.
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