There are a number of legal stages involved in the purchasing of a property, carried out to ensure that you are safely buying a lifetime’s investment. Before you commit to a purchase Buckley and Company Solicitors will advise you on the surveys and legal checks that need to be carried out on the property and will ensure that these are carried out to a high standard.
Whether you are a first time buyer or you are purchasing a property for commercial purposes, the stages involved in securing a mortgage for your property can be lengthy and confusing.
Almost all lenders will require that these steps and checks have been carried out before they issue you with a loan to purchase a property:
- The property must be surveyed for problems such as structural damage.
- If the survey is satisfactory, you agree a mortgage sum with your lender and pay a deposit to the estate agent, while we inspect the contract and Title deed to the property.
- When exchange of contracts is ready to happen, we ensure that your loan is available at the agreed date and time, and advise you on move-in checks that you need to carry out, such as meter readings.
- When the purchase has been completed, we stamp and register the title deeds and then forward all of the required legal documents to your mortgage lender.
- If for some reason you fall into repayment arrears during your mortgage term, we can advocate for you to your mortgage lender and seek a temporary solution such as a mortgage holiday.
This is a brief guide to the stages of obtaining a mortgage and purchasing a property. We will consult with you individually to guide you through the finer details, and advise you of our fees.
Remortgaging your home to access the equity that has accumulated is the easiest way to obtain finance for those large costs that sometimes spring up during a lifetime.
Buckley and Company Solicitors advise that you seek legal advice before speaking with your own or another mortgage lender so that we can talk you through all of the steps and any hidden costs that may be involved.