Q: Hi, I had a search on this forum and found some info but Im still confused!
I have just accepted an offer on a flat ￡ 145,000. I have no idea what to do!
I know I should get lawyers, examine and regulate the mortgage formally but I dont know who or when all costs are paid or who does it pay? (I realize in the end its me who pays, but I organize any queries or does the notary? If I order a lawyer to work for me, I have a cup of tea and then only draw checks for bills he sends me until I receive the keys or should I phone surveyors, people speak stamp duty (?) etc?
I have received an offer to the brokers and lawyers all searches include all stamp duty in one package to use and is listed on top price of ￡ 2600. It may be less than that in the end, because things allowances under I wont need (sanctuary fees etc). It sounds very good and when things went tits up I would not not pay anything Apart from the queries. If I went with my own lawyer quotes about ￡ 600 for the fee, if I pay any other costs? searches, stamp duty and who should I pay? Do I get a great account of the notary and then money to the solicitor or will I get bills through the process? I realize searches will be paid before any other process.
Also, the mortgage, will I have to pay them a valuation I assume that cost? I guess that will be settled with them.
Gosh, buying a home is a challenge!
how do you mean?
I have recently been asking about which solicitors to go with and am going to go with conveyancingwarehouse.co.uk i've checked them out and it's the cheapest quote i could find and iv'e researched them and all the reviews are really positive…… worth a look. Also it's quite easy to find a mortgage broker/financial advisor who will work for free and get commission from the lender. I have always done it this way and it can be another way of saving ￡500!
Good luck
You can also use enconveyancer.com which is also very good – very competitive quotes, and you can see realtime info about the progress of the move
got quotes from solicitors, and picked one
got a mortgage agreement
.
.
looked at houses…
.
.
found house
made offer, offer accepted
told solicitor, he sent out some forms/questionaire about the property, we filled them in and returned them
used a broker to arrange a decent mortgage deal.. we used London & Country
applied for mortgage over phone with L&C, they sent out some forms for us to fill in (direct debit form etc)
￡￡￡ we arranged a seperate survey so had to pay for that (this was extra to the valuation survey)
we got our survey thru post, sent a copy to solicitor
￡￡￡ solicitor told us he had necessary contract info and was ready to do searches, we paid him up front for the searches … but i think there mebbe some solicitors that dont need you to pay up front?
and finally…
solicitor called us in yesterday to sign bits and bobs (technical term), and said he would send out a statement of money we have to pay, a break down of all the costs, and we wire the money to him – think it is the deposit + stamp duty + land registry + his extra costs on top. Once we get this we get the money to him, and the rest goes thru by magic with a bit of luck
Do you ever get the feeling you're getting taken for a mug?
I have recently been asking about which solicitors to go with and am going to go with conveyancingwarehouse.co.uk i've checked them out and it's the cheapest quote i could find and iv'e researched them and all the reviews are really positive…… worth a look. Also it's quite easy to find a mortgage broker/financial advisor who will work for free and get commission from the lender. I have always done it this way and it can be another way of saving £500!
Good luck
Thanks that helps a lot. So most stuff is handled through the solicitor and payment most likely at the end.
Thanks for your help.
David.
got quotes from solicitors, and picked one
got a mortgage agreement
.
.
looked at houses…
.
.
found house
made offer, offer accepted
told solicitor, he sent out some forms/questionaire about the property, we filled them in and returned them
used a broker to arrange a decent mortgage deal.. we used London & Country
applied for mortgage over phone with L&C, they sent out some forms for us to fill in (direct debit form etc)
￡￡￡ we arranged a seperate survey so had to pay for that (this was extra to the valuation survey)
we got our survey thru post, sent a copy to solicitor
￡￡￡ solicitor told us he had necessary contract info and was ready to do searches, we paid him up front for the searches … but i think there mebbe some solicitors that dont need you to pay up front?
and finally…
solicitor called us in yesterday to sign bits and bobs (technical term), and said he would send out a statement of money we have to pay, a break down of all the costs, and we wire the money to him – think it is the deposit + stamp duty + land registry + his extra costs on top. Once we get this we get the money to him, and the rest goes thru by magic with a bit of luck