The financial and legal side of things

Overview

Your mortgage advisor and solicitor will both be working on your behalf, taking care of the financial and legal side of your homebuying journey. But what exactly will they be doing? This guide takes away the jargon so you can see exactly how the process works.


Find a mortgage advisor

There are many different mortgages out there, including fixed rate, tracker rate and interest only. A mortgage advisor can talk you through all appropriate options. They can also guide you on timings to ensure your application ties in with the completion date for your new home. 

Our friendly Sales Executives are on hand to offer all the advice you'll need to help get you started on your homebuying journey.

Ask us for more information about our panel of trusted mortgage advisors who can assist you throughout the whole process, ensuring everything runs as smoothly as possible. 

 

Choose a solicitor

A solicitor will handle all your contracts, give legal advice, do local searches, deal with the Land Registry and transfer your money. 

Ask our Sales Executive to put you in touch with one of our recommended solicitors, they'll be used to working with us and can help to get things moving quickly during your reservation period.


What happens now?

Now you’re getting the right advice and services from the right professionals, your homebuying journey can move through the different financial and legal stages and onto completion. The steps are: 

You’ll receive a mortgage offer 

If your mortgage application is approved you’ll receive a mortgage offer. Be sure to check all the details are correct and let your mortgage advisor know if there’s anything that doesn’t look right. Otherwise, you’re good to go. 

Your solicitor will check draft contracts 

They’ll make sure all the details are correct, including the price, details of the buying scheme - if you’ve taken one out, deposit amount, title deeds, fixtures, fittings and contents. Then they’ll send you a draft copy to read.  

Your solicitor will carry out searches 

These searches are to check there aren’t any issues before you buy your new home. These could cover things like ownership of the property, access to the property and any other changes in the local area which may affect the value of your home.  

Your solicitor will finalise contracts 

When you have a formal mortgage offer, and you’re both happy with the surveyor’s report and answers to any outstanding questions, you pay your deposit and sign your contract. Now we can exchange signed contracts with your solicitor.  

Your solicitor will move to completion 

Sometimes exchange and completion happen on the same day, but they’re usually a few weeks apart. There are a few legal matters to wrap up before completion, including any final searches, transferring ownership to you, and making sure the mortgage money is ready to transfer. 

Then once you’ve paid your final costs, you can complete and your new home is legally yours.  

Some good advice. Start looking for home and contents insurance early and give yourself time to find the right cover. 


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