Buying Your Home in England and Wales. A Walkthrough.

Описание: Buying Your Home in England and Wales: The steps you, your solicitor and your lender have to take to allow you to move into your new home.

Buying your home can be a daunting process: Cunningtons solicitors guide you through the steps you take, from viewing right through to collecting the keys and stepping through your new front door. We follow Henry and Rita as their journey leads towards moving day.

Henry and Rita need to talk to a mortgage advisor to discuss their plans, and check what they can borrow.

They now need to find a home to buy, and make an offer which is accepted.

They then find a conveyancing solicitor to act for them, and make sure that buying their house is problem-free.

Their mortgage company now carries out a valuation survey of their new home to make sure it is worth what they have agreed to pay for it.

Now they arrange a structural survey. They check with their mortgage advisor to ensure they meet requirements.

They ask the local council about any planning worries about their new home.

7 - Their solicitor contacts the seller's solicitors to check the title deeds of the property and the proposed contract with the seller.

The lender sends their solicitor the mortgage offer and asks them to check the title deeds and that the conditions in the mortgage offer can be met.

Their solicitor deals with searches and enquiries, and checks the results.

The solicitor gives the contract, mortgage transfer and other documents to Rita and Henry. They sign and return them.

Now Rita and Henry exchange contracts. This is a legally-binding agreement to proceed with the purchase.

The solicitor then hands over Rita and Henry's deposit to the seller's solicitor.

The solicitor then sends the certificate of title to the mortgage company.

Solicitor undertakes final searches.

Henry and Rita agree buildings insurance for their new home, and pay the first installment.

The solicitor prepares Rita and Henry's financial statement.

The lender sends the agreed money to the solicitor.

Henry and Rita send all outstanding money to their solicitor.

Henry and Rita arrange to collect the keys to their new home, and organise the rest of their move.

Completion! Henry and Rita officially take ownership of their new home.

The solicitor sends the remaining money - securely - to the seller's solicitors.

Henry and Rita collect their new keys and move in.

The solicitor sends Henry and Rita a closing account, pays the stamp duty, and registers their ownership with the Land Registry.

The solicitor then sends the deeds to the lender, with a copy to Henry and Rita.

For legal help with all aspects of moving home, contact us today.