With the property market in a state of uncertainty as mortgage rates keep rising, making the right choices when moving home is ever more critical.
Here, Director, Nicola Tubbs, who heads our Residential Conveyancing Department, outlines the key issues you need to consider when embarking on a house move:
Finance
Without the money, the deal won’t happen, so make sure you shop around for the right finance. It might be appropriate to consult a mortgage broker or adviser who will be able to offer guidance on what is the best financial deal for you.
Also, make sure you have enough to cover the sometimes hefty bills involved in a move.
Legal advice
Make sure you take on a professional who can guide you through the legal process. A conveyancing solicitor will have plenty of experience in this field and be able to carry out the legal work needed to buy a property and spot any potential pitfalls that affect the purchase.
Surveys
Your lender will already have ordered a valuation to make sure the amount of the loan is covered by the property value. Once the process is underway, it is advisable to get a separate survey to assess the physical condition of the property and can give an independent valuation.
Insurance
You will have to provide the building insurance policy you need in order to purchase a property and it would be wise to purchase contents cover to protect your belongings.
Energy Performance Certificate (EPC)
A domestic energy assessor is qualified to assess the energy efficiency of residential properties like houses and flats. They prepare reports and make recommendations for cost-effective ways to improve energy performance in buildings.
Contract exchange and completion
Once contracts have been exchanged and the completion date is set, it’s time to book a removal firm and start thinking about setting up those household bills for your new place.
At Palmers, our friendly and professional conveyancing team are renowned for the first-class service they provide to buyers and sellers.
For help and advice on all aspects of conveyancing, get in touch with us now.