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Latest reports from industry bodies indicate that the housing market is showing signs of improvement. Although there is a long way to go to reach pre-recession levels, there was a marked increase in mortgage lending and house prices in April this year. The Council of Mortgage Lenders (CML) reported that £12.1bn worth of mortgages were taken out in April, 4% higher than compared to £11.6bn in March – the highest month-on-month increase since late 20081. Furthermore, property analyst Hometrack reported the biggest monthly increase in house prices in six years in April, with a rise of 0.4%.2 One of the main reasons behind the boost in figures is the Government’s Help to Buy scheme. Launched in April, the initiative is designed to make it easier for homebuyers to access cheaper mortgage deals and put down more manageable deposits of 5%. Looking for a new home is an exciting time but before you take the plunge there are two important considerations. The first is to secure a mortgage offer in principle, the second is to appoint a solicitor or licensed conveyancer to oversee the legal paperwork. This shows sellers that you are a serious buyer and allows you to get a head start on the legal paperwork. Whether you choose to hire a solicitor online or seek local legal advice in Swindon there is a number of factors to consider: - Solicitor or Licensed Conveyancer? Whether you are buying, selling or re-mortgaging, you will need to appoint a solicitor or licensed conveyancer to ensure you meet all the legal requirements.
Whilst a solicitor and licensed conveyancer fulfil the same role, the fundamental difference is that a solicitor practises other areas of the law; a licensed conveyancer only deals with conveyancing. - What does a conveyancer do? A conveyancer essentially manages the purchase or sale of a property or land from one person to another. This includes:
Reviewing the seller’s draft contract and negotiating any changes on the buyer’s behalf. Submitting a Local Authority Search to ascertain if there are planning or development restrictions in place which may affect the property. For example, whether there are major road or development schemes planned, if there is an outstanding breach of planning permission at the property or if roads linking the property to the main road are publicly maintained and therefore the buyer’s responsibility. Ensuring the buyer’s mortgage lender has all the relevant information about the property. Registering the title deed, and if the buyer has a mortgage, the mortgage deed with the Land Registry. - Local or online conveyancing? There are a number of online companies offering conveyancing services. The advantage of using a licensed web-based conveyancer is that you can check the progress of your case online. If you prefer to deal with someone in person, several solicitors and licensed conveyancers offer legal advice in Swindon. The main benefits of using a local practice is their knowledge of the area and that you can sign and return urgent documents quickly.
Whichever method you choose, always request a breakdown of the charges beforehand to avoid hidden costs. Lemon&Co solicitors are a full service law practice specializing in conveyancing and legal advice in Swindon. For affordable, expert conveyancing advice drop in and talk to our conveyancing team or call us on 0800 135 7917.
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