Step by step guide
Buying a part buy part rent home
Conveyancing process
This is the process of transferring ownership
of land from one person to another.
It’s a complicated process and can take up to
12 weeks between the agreement of the sale and exchange of
contracts. With new properties, a month to six weeks is more usual.
When you move in will depend on when the property is finished (if
new).
Step 1: Once approved...
Once your application has been approved by us,
you'll need to tell us which solicitor you plan to use and which
lender (if any) you will be arranging your mortgage with.
Don’t forget to instruct the solicitor
straight away. We'll then issue a Memorandum of Sale which is sent
to all interested parties and gets the legal process underway.
Our solicitor will send yours an information
pack with details of the sale including replies to standard
enquiries. This should speed up the process. Other information will
include:
Title deeds showing that the
seller owns the property and advises of any rights or obligations
that affect the property e.g. a lease.
Contract drawn up by our
solicitor and sets out the terms of the proposed agreement
including your names and the price and arrangements for
completion.
Lease which outlines any conditions,
restrictions and responsibilities. Your solicitor should provide
you with a copy of the lease and should explain it to you.
Next
step >>
Searches, survey and mortgage offer...