We partner with MovinLegal for Conveyancing, why...
Our service ensures your chosen conveyancer is on panel with the mortgage lender, saving time and hassle. My relationship with the team at MovinLegal means we have a team behind us to try and expedite the conveyancing process if it feels like it's grinding to a halt. I can quote and instruct a conveyancer for you in under 1 minute, getting you moving faster. Any transaction involving property can be quoted for...
There is no set format for quoting in the conveyancing sector and over the years many panel firms have begun the process of standardising this, our partner of choice for our conveyancing panel is Movinlegal, they have a large panel of solicitor and conveyancing firms from all over the UK that operate within the standards set by Movinlegal to facilitate a smooth legal process.
Movin Legal understand that the conveyancing process of purchasing, selling & re- mortgaging a property can be daunting and to make you aware of the process they have put together this helpful guide.
Once your property has been found and the offer is accepted you can start the conveyancing process. Your Mortgage Advisor will use the Movin Legal portal to instruct the conveyancer, certify your ID and upload it securely to the conveyancer who will be dealing with your case.
You will have a named conveyancer who will deal with your case from start to completion.
Your financial journey matters to us and we're eager to be a part of it!
All the conveyancers on the panel have 24 hours to make verbal contact with you, to check all your contact information. From there your conveyancer will send you within 48 hours either via email or post the Welcome Pack.
It is important to understand that until the Welcome Pack is returned your conveyancer cannot start acting on your behalf and the process cannot begin.
All residential clients purchasing a property receive FREE abortive transaction cover, which is Movin Legal’s gift to you. The product covers you up to £600 of legal, survey and arrangement fees if :
Searches cannot be ordered until the Welcome Pack is returned, and the sellers conveyancer has sent the draft contracts including plans. Once they have been returned, your conveyancer can move to the next part of the process. At this time, you will be asked for a case opening fee, which can be between £200 - £300 dependent on the firm.
Your conveyancer will receive the Mortgage Offer in writing from the mortgage lender. It is now common practice for conveyancers, not to order the searches, until the mortgage offer is received. This is for your protection. If the mortgage offer collapses after the searches have been ordered you might be liable for the search costs.
Searches on the property & the surrounding area are needed to be carried out to ensure there are no issues. Many of the searches are relatively quick to be returned, however the Local Authority Search can take some time to complete.
They average from between 15 – 60 working days to complete, although some local authorities may offer an expedited service.
Once the searches are returned, your conveyancer will raise enquiries with the seller’s solicitors to check that the property is not subject to any restrictions.
Once these enquiries have been raised, your conveyancer will have to wait for a response from the sellers solicitors. It is worth noting that this is a back and forth process which is repeated more than once, until your conveyancer is legally satisfied that all the enquiries have been fully completed.
When the searches and enquiries have been fully satisfied you will be sent all the contracts, which will need to be signed and returned to your conveyancer promptly.
Once signed and returned, a date(s) can be set for exchange and completion. Keys to the property can only be collected from the estate agent after completion. (Please note exchange and completion do not necessarily occur on the same date).
WE HAVE TRIED TO BE AS THOROUGH AS POSSIBLE TO EXPLAIN THE CONVEYANCING PROCESS, HOWEVER NO CASE IS THE SAME AND THEREFORE ALL TIMESCALES INDICATED ARE SUBJECT TO THE INDIVIDUAL CIRCUMSTANCES.
Why do I need a mortgage broker?
Identifying the best mortgage for your personal circumstances, from thousands of mortgage deals, many not available on the high street and submitting a successful application is no mean feat.
As well as the complexities involved, its time consuming and can be costly if mistakes are made. That’s where the expertise of a mortgage broker can play a huge role.
I am self employed with only 1 yrs income, do I qualify for a mortgage?
We have many lenders who can assist in this situation, it is important to know if you are a sole trader, a lender is going to work off your ‘Net profit’ declared to HMRC as a basis for affordability. If you are a director of a Ltd Co, then we can use either salary and dividends or your share of company net profit and salary, whichever option gives you the affordability you require.
How much can I borrow?
The old system of 3.5 or 4 x your income is gone and now we need to know all your income sources together with all your debt details. We then use a multi lender affordability system to calculate your borrowing ability from over 50 lenders in a single go. It is important not to take on new debt before you are considering a mortgage as any and all monthly payments to debts reduce the level of income to be used in calculating affordability. As a ‘guide’ if you multiply by 12 ALL your monthly payments to loans, HP agreements and credit card payments (using 5% of the balance as a minimum payment) and deduct from your total income and then multiply by 4 you will not be far away, but this needs finalising by your adviser.