Conveyancing is now set to move into the 21st century thanks to the Law Society's new conveyancing portal which will be launched in spring 2015. It should not only benefit solicitors but also make buying and selling a home more user-friendly for clients.The portal will provide “an efficient, secure and transparent way of managing conveyancing” by enabling solicitors to share information and documents with their clients and others involved in prop
New online portal will help solicitors provide faster Conveyancing
Fridaysmove's survey game could save home buyers £1,000's
When a home buyer has an offer accepted on a property, a conveyancing solicitor is then instructed to carry out the conveyancing process.'Conveyancing' is the technical word that describes the legal process of transferring the 'title' (ownership) of a property from one person or entity to another.In day to day use, conveyancing has become the broader umbrella term to describe all of the post offer administration and due diligence carried out by t
What does the Mortgage Market Review mean for home buyers?
What do these new rules introduced in April this year and known as the Mortgage Market Review, mean to you?When you apply for a mortgage some lenders are now requesting that you provide 6 months bank statements and payslips instead of the 3 months previously required.The interview for a mortgage application will last between 2.5 to 3 hours and be prepared to answer intrusive questions about your spending habits and plans for the future.Unless you
Why you might need next-door’s consent to alter your home
What do you do if you are building an extension on your house and your next-door neighbours tell you to stop work because you haven’t got their consent? Or if you get a solicitor’s letter telling you that the works are in breach of a ‘restrictive covenant’ and they will get a court order if you don’t stop work?People often buy a house with the idea of doing some work to it – perhaps building an extension, or even splitting a large house into flat
Buying a home? Check your solicitor is on your mortgage lender's panel
When you get a mortgage to buy your home your mortgage lender will also instruct a solicitor to act for them. Do not assume that they will always instruct the same solicitor that you are using for your conveyancing.The other day I saw an anguished plea from a buyer who had just been told that his lender would not be able to instruct the solicitor who was already acting for him. Completion of the purchase was supposed to be taking place in just a
Is MMR an unnecessary interference in the mortgage market?
The new Mortgage Market Review (MMR) rules which come into effect on 26 April could upset the current recovery in the housing market.Anyone applying for a new mortgage after that date will face much tougher questions about their income and expenditure than before. Lenders are required to apply much more stringent lending criteria.MMR rules will not apply just to first-time buyers but to existing borrowers wanting to buy a new home, or in some cas
Service charges to be investigated by Office of Fair Trading
Do you own a flat? Do you have to pay service charges to a property company or managing agent ? Are these service charges grossly over-inflated?If you answer 'yes' to all these questions then the Office of Fair Trading (OFT) wants to hear from you.Service charges have long been an area of dispute between flat-owners and the companies which manage blocks of flats. Many owners consider that the charges are often excessive, and that they are charged
Help to Buy Conveyancing Solicitors - advice for home buyers
Are you a frustrated home-mover? Help to Buy could be the solution to help you get moving.In recent years, homeowners have been frustrated because they wanted to move – perhaps because the family needed a bigger house, or to move for a new job – but could not afford to.Many such families have had sufficient income to afford higher mortgage repayments, but could not get a mortgage for more than 80%. If the amount available from the sale of t