Buying and Selling A Home

Why use an Online Conveyancer?

Traditionally, when buying or selling a Property people would appoint their local or family solicitor, who is a ‘jack of all trades’ in respect of the law, knowing a little about many areas of law but nothing substantial about any one area of law. The solicitors would charge by the hour and take months to complete the conveyance.

UK Mortgage Approvals are on the Rise

The tighter rules on mortgage lending, saw the number of Mortgage Approvals falling in most months last year, the effects of which were not only a cooling of the house price growth, but also a significant slowdown in the housing market. Although concerns about a new housing bubble were eased, new fears were created over whether this slowdown would cause the housing market to grind to a halt as homeowners were unable to move, the supply of properties on the market began to shrink.

Compulsory Purchase Order

A Compulsory Purchase Order is an order served on a property owner by the Local Authority or other Government Agency (we will refer to these as ‘Acquiring Authorities’) forcing the property owner to sell the property to them. The Compulsory Purchase powers exercised usually by the Local Authority or other Government Agency are designed to enable the Acquiring Authorities to buy up land for the purpose usually of clearing the way for an infrastructure scheme ( railway, road and so on) or for the regeneration of an area (for example, clearing slums to make way for new housing).

Energy Performance Certificate

An EPC is a certificate that must be provided by the seller or the landlord of the property when the property is being sold or rented out.

Flipping Properties

The resurgence of the property market has seen the return of the practice of “flipping” properties. Flipping property is the process of buying a property and selling the property within a short period of time for a profit.

Gazumping

Gazumping which was the scourge of the Property buying market during the boom times is alive and kicking - in both the property buying market and the property rental market.

How to Increase the Value of Your Property

There are many factors which may affect the value of your property some of which are within your control and some which may not be within. Those factors within your control include the state of repair of the property, the decoration within the property and the garden. Other factors which may not be within your control include the nature of the area in which the property is situated, the performance of the local school, and the behaviour of neighbours. Some factors such as the size of the property may or may not be within your control.

How to Tackle the New Mortgage Affordability Tests

It has never been so difficult to get a mortgage after the introduction of the new Mortgage Affordability Tests by Mortgage Lenders in response to the introduction by the Financial Conduct Authority (FCA)’s introduction of new regulations under the ‘Mortgage Market Review’. To many potential mortgage applicants, the future seems bleak with the prospect of many giving up hope when faced with what appears to be an impossible obstacle.

Remortgaging

Borrowing money to pay off your mortgage and secure that borrowing against your house, is known as remortgaging – essentially it is swapping one mortgage for another.

Risk and Buildings Insurance Between Exchange and Completion In the Purchase of a Property

Buildings insurance is often an issue during Exchange and Completion in the purchase of a property due to the fact that after contracts are exchanged, both the buyer and the seller have a legal interest in the property.

Rules for living in Newbuild Homes

A common complaint from someone buying a newbuild home is that there are so many rules and that they were not told and wouldn’t have bought the house if they had known!

New Mortgage Application Stress Tests

It is getting tougher and tougher to get a mortgage as the Lenders tighten their approval criteria for mortgage applications as a reaction to the introduction by the Financial Conduct Authority (FCA)’s introduction of new regulations under the ‘Mortgage Market Review’ in an attempt to slow the housing market which is widely believed to be over heating and to avoid another credit crunch crash.

Three Steps to Buying a House at Auction

Buying a house at auction has several advantages: It enables you to buy a Property often at below-market price (can be as much as 30% below market price). It cuts out the delay of the usual conveyancing chain of buyers and sellers. It carries the certainty that once you have agreed to buy the Property – it’s yours – the seller cannot pull out. It's quick, all bidding and buying processes are completed on the same day.

Your Guide to Mortgage Interest Rates

Having decided on the type of mortgage you would like, it is now necessary to choose the method of calculating the interest on the mortgage. The most common methods of calculating the interest on a mortgage are: • Variable Rate • Fixed Rate • Capped Rate • Tracker • Discounted Rate

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