Solicitors and the Conveyancing Process

Whether you are buying or selling property, the experience can be a stressful time. Property law is complicated, convoluted and confusing. It is important to ensure that the conveyancing process is handled effectively. This ensures that the property transaction is legally sound and protects you financially.

Our specialist solicitor, Myles Thomas, looks at the conveyancing process and the benefits of a solicitor/conveyancer handling the matter for you, rather than a DIY approach.

For more information, get in touch with a member of our team today.

What is conveyancing and what is the process that is usually followed?

Conveyancing is the transfer of the legal title of a property from one person to another. As solicitors, we are responsible for ensuring our client has a good and marketable title to a property. We check the title, and if buying, request searches (Local Authority, Water & Drainage and Environmental), raise and respond to any pre-contract enquiries, arrange the signature of documents and deal with the transfer of funds upon exchange/completion.

Exchange is the point at which the contract becomes legally binding. Finally, completion is when you get the keys to your new home!

As a solicitor, what are your main responsibilities and duties during conveyancing?

Our obligation is to affect the completion of the sale or purchase for our client, ensuring they obtain a good title and their interests are protected throughout.

What value does a solicitor bring to the conveyancing process as opposed to an alternative service or a DIY approach?

Experience and qualified knowledge enable us to provide expert, proactive advice. This allows the matter to run smoothly. It is possible to do your own conveyancing, however, this is not a good idea as the process is complicated and time-consuming.

What issues can arise both in the short term and the long term if someone takes a DIY approach to conveyancing?

From our experience, the lack of professionalism caused by unqualified conveyancers almost always incurs cost on the client. When the matter is dealt with by professionals, the chain delays and additional expense is avoided.

Buying property is one of the most expensive purchases we make, so why leave anything to chance?

How do you support your clients through the conveyancing process?

Communication is key to what is traditionally a stressful and expensive time. We keep our clients proactively updated throughout the transaction and readily available to answer enquiries they may have to relieve stress and assure them that they are in safe hands.

How can we help?

CJCH is committed to providing high quality, friendly advice. Our team has over 35 years’ experience in dealing with these matters. Get in touch with a member of our team today.

Get in touch via:

Telephone: 0333 231 6405

Email: privateclients@cjch.co.uk

Top Tips for Purchasing a Buy-to-Let Property – the Process Explained

Joanne LerwillPurchasing a buy-to-let property can seem like an attractive investment – with investors collecting rental income and relying upon steadily increasing property prices. Despite the slowdown in house price increases, the number of renters continues to climb. There are important considerations about purchasing a buy-to-let property and being a landlord – whether you have a portfolio of properties or are just starting out.

Our specialist solicitor, Joanne Lerwill, takes a look at the process of purchasing a buy-to-let mortgage and the recent changes that have come into force.

How can a solicitor help someone purchase a buy-to-let property?

A solicitor can give advice and guide you through the legal complexities of buying a property to rent out.

Are there any differences between the process of purchasing a residential property and a buy-to-let?

Whilst a buy-to-let mortgage is a lot like a residential mortgage, there are noticeable differences. Firstly, the fees tend to be much higher. Additionally, so too are the interest rates. Furthermore, the minimum deposit for a buy-to-let mortgage is usually 25% of the property’s value. Finally, you are liable for the higher rate Stamp Duty (in England), or the Land Transaction Tax (in Wales).

What are the rules around the letting fee ban which came into force in 2019?

The new law, taking effect from 1st April 2019, means tenants will no longer face fees for services, including viewings, credit checks, references and setting up a tenancy. However, it is entirely possible that these additional costs, once eliminated, will raise the tenant’s rent.

What are the other main considerations with buy-to-let properties?

The biggest consideration for anyone thinking about a buy-to-let mortgage is financial. Firstly, you will require a larger deposit to make the purchase. Secondly, the mortgage is generally based upon the rent, rather than your income. To cover the mortgage and expenses of running the property, in addition to making a profit, you need to charge high enough rent.

What top three tips would you give to someone purchasing their first buy-to-let property?

  • Number one – Research the market! This cannot be understated. Ask yourself, what do you know about the market? Are you sure this is an investment you want to commit to? It is important to consider the risks as well as the benefits.
  • Number two – Do not rush the process and look around for the best buy-to-let mortgage deal. It pays dividends to speak to a good independent broker and your bank. They will explain what deals are available and which one is right for
    you
  • Number three – Above all, think about your target tenant. Who are they and what do they want? Will you rent to students, young professionals or a family?

How can we help?

The CJCH conveyancing team has over 35 years’ experience in property matters. Your matter is expertly managed by qualified solicitors and conveyancers, ensuring you are in safe hands.

Get in touch via:

Telephone: 0333 231 6405

Email: privateclients@cjch.co.uk

In the event that you encounter difficulties with your tenant/s any time after completion, get in touch with our Litigation Team on 029 20 483181 who have the necessary expertise to assist whatever the problem.