A 8.3% rise is expected in house prices this year, however with government schemes such as help-to-buy, rising house prices won’t stop the housing market from booming over the next year.
Purchasing or selling a home can be a long process. Once the offers have been made and accepted there are legal requirements that need to be fulfilled. Hiring a qualified conveyancing solicitor to work on your behalf is the option that most people choose as trying to carry out the legal work yourself is often too difficult and time consuming.
The key difference between hiring a solicitor and a conveyancer is that a conveyancer is qualified specifically within the property industry and they are licensed by the Council of Licensed Conveyancers. Solicitors will have knowledge of the property industry and therefore are also qualified to give legal advice and represent a client who is buying or selling a home.
The moving process can be daunting when considering the different elements that need to be managed which is another reason why hiring a conveyancing solicitor is a good idea. They are responsible for organising surveys, valuations, advice and representation on compulsory purchase compensation, reports from specialist services (such as damp proofing) and assisting with mortgages or other funding arrangements.
Once offers have been made and accepted the estate agent will ask for your legal representatives details to pass onto the other party’s legal advice. We recommend that before you start looking for a new home you make contact with a solicitor or conveyancer as this will make the process quicker, and smoother and prevent rushed decisions being made.
A qualified solicitor could also act on behalf of your lender, which could save you money. The main task is to draw up a mortgage deed which sets out all the conditions of the loan which the lender will then hold along with the title deeds of your property until the loan is paid in full.
