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This article was published on June 20th, 2023
Buying a house is an incredibly exciting process, but there is a lot to consider and it’s important to think about all of the associated costs involved, not just the purchase price. This article covers some of the costs involved with buying a house and how we can help ensure that the process is as cost-effective and efficient as possible.
Conveyancing is the process of legally transferring the ownership of a property from one person to another, and the fees involved are those paid to ensure the handling is done correctly. Understanding the process and everything that is involved is key as it begins when an offer is accepted and ends when the final contracts for the transaction are complete.
The conveyancing process can be complex and it’s important to have the right solicitor to help you understand everything that’s involved. Thorneycroft Solicitors provide a specialist, comprehensive conveyancing service designed to safeguard your interests at every stage of the buying process. Accredited by the Law Society for the Conveyancing Quality Scheme, you can be assured that you’ll receive a quality service from fully certified and experienced solicitors.
By instructing an experienced conveyancing solicitor to act on your behalf they will guide you through the process and handle the legal paperwork for you. Your solicitor will work with you to ensure any issues are handled correctly, searches are conducted, contracts are exchanged and monies are transferred in time for the projected completion date. We will also support you in carrying out the final steps of the process post-completion.
Before you purchase a property it is worth paying for a professional survey to inspect the property and ensure that it is in good condition and safe to move into should you proceed with the transaction.
While it is an additional cost in the buying process, it is certainly worth it to avoid any unexpected problems and costs at a later stage. These issues might be related to structural issues, damp or plumbing problems, for example. There are a number of different surveys available so it’s important to be clear on what they can and can’t check.
Searches are carried out by your solicitor whilst your mortgage application is under review. These searches are conducted to ensure that there are no issues with the property or surrounding area and make sure you’re aware of any risks or developments that could arise, before the purchase is complete:
Stamp Duty is one of the costs that are paid post–completion of your transaction. It is the tax that is paid to the government when you purchase a property and the amount that is required can be influenced by the purchase price of your property and if you are a first time buyer. Here at Thorneycroft Solicitors, we will arrange the payment of Stamp Duty Land Tax for you.
The Land Registry transfers the registry entry for the property into your name and charges a fee for this. Like the Stamp Duty Tax, the fee is dependent on the value of the property and is paid following the completion of the property purchase. Thorneycroft Solicitors will send the documents and payment to HM Land Registry to register you as the owner of the property so that you don’t have to worry.
Whether you’re buying a new build or an existing home, it is essential to choose a fully qualified and experienced solicitor who understands the process and works hard to ensure that the process runs as smoothly as possible. Our experienced and dedicated conveyancing team will guide you through the process, providing you with peace of mind that you’ll receive a quality and efficient service.
Get in touch today to speak to one of our experts by calling 0330 058 0118 or by filling out our simple enquiry form.