As soon as you place an offer on a property, your estate agent will ask for your solicitor's details to pass onto the seller's solicitor. It's therefore wise to establish contact with a solicitor before you start looking for a property to avoid having to make this important decision in a rush. The legal process of buying and selling a property is called conveyancing. (Your solicitor must be qualified in conveyancing as it's a specialist area of law.) All solicitors practising law in England and Wales must also be registered with the Law Society. There are separate societies for Northern Ireland and Scotland. A solicitor's job is to take care of all legal aspects of moving house, which include:
Local Land Charges are outstanding charges that local or central government can demand from successive owners or occupiers of property or land, or restrictions on the use of property or land. These include charges for services such as roads, or restrictions like Smoke Control or Tree Preservation Orders.
The Land Registry holds all the ownership records of all registered land and property. Also it holds information on any mortgages, charges, cautions and restrictions on all registered land and property.
Affordability is the major consideration when choosing a mortgage.
Typically most high street lenders will lend a single person between 3 and 3.5 times their pre-tax salary.
Other credit commitments, such as to a credit card or personal loan will generally not be taken into account.
Some lenders will also allow you to add a proportion of any regular bonuses you receive to this base figure.
Use the following links to found out more about
home ownership schemes in your area:
direct.gov -
lists contact details for local authorities.
housingcorp.gov-
describes homebuy scheme in more detail.
england.shelter.org -
more information on home ownership schemes.
communities.gov -
information on government housing strategies