Housing and property FAQs

Yes, there are a few ways to potentially reduce your stamp duty liability. First-time buyers can benefit from relief on properties up to a certain value. You may also be exempt from stamp duty due to the transfer of property. Other ways to reduce stamp duty include convincing the seller to lower their asking price, paying for fixtures and fittings separately, adding a booster to your mortgage, or opting for a new build, as some developers may agree to pay all or part of the stamp duty to attract buyers.

While it is technically possible to go through the conveyancing process without the help of a solicitor, if you are buying with a mortgage, most lenders will require you to use a solicitor or conveyancing specialist to facilitate your move. Using a conveyancing solicitor helps guide you through the legal complexities involved in property transactions, saving you time and money, and so is highly recommended! 

If you are looking to buy your first home, setting up a Lifetime ISA account could be a great option to help you save up for your deposit on your new home. You can deposit up to £4000 annually into your Lifetime ISA and receive a 25% annual bonus from the government.You can learn more about this deposit-boosting product here.

To add someone to a house deed, you'll typically need to prepare and execute a new deed that includes the additional individual's name. This process involves legally transferring ownership rights to the property by completing the necessary documentation and filing it with the appropriate authorities, such as the HM Land Registry.

Choosing a conveyancing solicitor involves considering several factors: seeking recommendations from friends or family, checking online reviews, and comparing quotes. Ensure the solicitor is experienced in property transactions and offers transparent fees. Additionally, verify their credentials and registration with relevant professional bodies, such as the Law Society or the Council for Licensed Conveyancers.

As a rough guide, it generally takes around 16-20 weeks from receiving the draft contract to the completion date. However, factors such as the complexity of the housing chain, whether the property is freehold or leasehold and document delays from either end of the chain may lengthen the conveyancing process. 

A draft contract is the initial agreement detailing your property transaction, usually drawn up by your solicitor in collaboration with the seller’s solicitors. This contract is in draft stage until the exchange of contracts stage later down the line when this contract becomes legally binding. 

Property surveys are checks carried out on a property that you are looking to buy focusing on inspecting its quality by an expert surveyor. Surveys can uncover structural defects in the property that could be expensive to repair, giving you more details about the property that you’re looking to buy. 

 On average you can expect to spend between £1500 - £2000 plus disbursements on conveyancing, however your costs may differ based on where you are based geographically and the complexity of your property’s sale or purchase. Looking to find a conveyancer? Get an online conveyancing quote from our network of legal experts.  

Deciding when to apply for a mortgage depends on various factors, including your financial readiness, housing market conditions, and personal preferences. Generally, it's advisable to start the mortgage application process when you have a stable income, a good credit score, and sufficient savings for deposit and conveyancing costs.  

 

Typically, you will usually need to get in touch with a conveyancing solicitor when you have an offer accepted on a property that either you own or are looking to sell. However, to avoid delays, instructing a solicitor early into placing your property on the market, to receive and complete your paperwork and find any relevant information that may be required may speed up your transaction once an offer has been accepted your conveyancer will then guide you through the legal processes involved with property transactions. Looking to find a conveyancer? Get an online conveyancing quote from our network of legal experts. 

Conveyancing, the legal process of transferring property ownership, is typically handled by licensed conveyancers or solicitors. The buyer and seller each have their own conveyancer or solicitor to represent their interests and ensure a smooth transaction

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