We can also assist you in obtaining a Mortgage. As you may or may not be aware the majority of Estate Agents and Building Societies no longer offer independent financial advice as they have become tied to one particular life Insurance Company. It is also not often appreciated that commissions are earned by these persons, usually without disclosing the commission to you. We are in a position to explain these hidden charges to you and to advise you on the procedure in relation to the entire transaction. AS Solicitors, the commissions earned on Endowment, Pension, Unit-Linked or Personal Equity Mortgages result in a substantial reduction in your legal fees. By arranging your Mortgage with us we can save you money.

If you’re buying, we will check the contract drawn up by the seller’s Solicitors, to make sure you are getting what you think you are. If you are selling we draw up the contract. When you have had your mortgage offer, satisfactory replies have been received to all our searches and enquiries and the Contract has been signed by both parties, then it will be possible to complete the transaction. In most cases you will want to arrange the completion date on both your sale and purchase at the same time. We will do our best to make everything go as quickly and as smoothly as possible, but please remember that delays may happen which are beyond our control. There may be a long chain of buyers and sellers and things can only move as fast as the slowest person in the chain. Please also remember that delay is sometimes deliberate as a seller may want to delay until he is sure of being able to buy his new house, or until his new house has been built. The seller may not be wholly frank with you because he does not want to lose you as a purchaser.

We may often be acting for the Building Society or Bank or whoever is lending you the Mortgage money. If so we will also prepare the mortgage Deed and make sure the house is good security for the Mortgage. We will then work out the amount of money needed on completion and will receive the mortgage money from the building society or other lender together with the proceeds of your sale and any balance from you. From the money we receive on your behalf we will pay your seller’s solicitor the balance purchase money on your own sale (After deducting any deposit already paid by you), pay off your old mortgage (if you have one) and discharge it. We will register your ownership and the Mortgage and after that send the Deeds on to your Building Society who will hold them until the Mortgage is paid off.

If any problems arise later we will be happy to deal with them. We will also advise you on any matters arising out of the house purchase including whether you should have the house in joint names or in one name, whether you need Planning Permission for any alterations, change of use and so forth.

• When the purchase of a property is agreed, we receive a Memorandum of Sale from the estate agents.
• We will then contact you (the purchaser) for confirmation of instructions.
• You should now ensure your mortgage application is submitted and arrange a survey, buildings insurance and life cover.
• Once the Contract Package is received from the sellers’ solicitors we will send the relevant information to you and submit searches (i.e. Local Authority, drainage, environmental, planning etc.)
• We will then approve the Contract and prepare the draft Transfer and Requisitions on Title.
• Once the search results are received, the file will be checked by a fee earner and relevant enquiries will be raised with the sellers’ solicitors.
• When the enquiry replies are received these will be checked to ensure they have been answered fully and the replies are satisfactory.
• When the Mortgage Offer is received we will check with you that you have received your copy, are happy with the offer and will check our copy to ensure that any special conditions can be met.
• Once all documents have been received and checked we will put together a Report to you to be signed and returned along with any deposit, if necessary.
• A completion date needs to be agreed by all parties which is entered into the Contract on exchange and becomes the date the purchase must legally complete.
• On exchange of contracts the deposit is handed over to the sellers’ solicitors and Land Charges, bankruptcy and Land Registry searches are submitted. We will also request Mortgage Funds where necessary and send a Completion Statement to you, telling you what further money, if any, we will need from you to complete the purchase.
• On the completion date we send the purchase monies to the sellers’ solicitors and advise you, the Estate Agent and lender of completion.
• Following completion we pay the Stamp Duty and submit the relevant application for registration to H M Land Registry.
• Registration is then confirmed to you and any Lender.

• When the sale of property is agreed, we receive a Memorandum of Sale from the estate agents
• We will then contact you (the seller) for confirmation of instructions. You will need to complete a seller’s questionnaire, a Fixtures, Fittings and Contents Form and Sellers Property Information Form and return these forms to us.
• We will obtain the title deeds for the property and prepare a Contract which will be sent to the purchasers’ solicitors along with the completed Property Information Form and Fixtures, Fittings and Contents Form. We shall also request a redemption statement from the Lenders if any mortgages and/or loans are secured against the property.
• If the property is Leasehold we will also need to obtain Management Company/Service Charge information.
• Enquiries are often received from the buyers’ solicitors which need to be answered. Occasionally we may need to send a copy of the enquiries to you to answer where the answers are not known by ourselves
• The contract (once approved by the buyer’s solicitor) is then sent to you for signature in readiness for exchange of contracts.
• Once the Buyers Solicitors are satisfied with replies to any enquiries they have raised and are holding their client’s signed contract and cleared deposit monies, a competition date needs to be agreed by all parties. The completion date is the say the sale completes and the date by which the property must be vacated.
• Once a completion date is agreed by all parties in the chain contracts are exchanged
• We request final settlement figures from lender(s) – if appropriate – and send a Completion Statement to you, telling you what monies will be payable to you
• We reply to sellers requisitions and approve the legal Transfer document.
• The finalised Transfer document is sent to you for signature as soon as it is received
• On completion day we advise you and the Estate Agent once the sale proceeds have been received and/or the mortgage has been redeemed. All keys are to be deposited with the selling agents by 1pm
• Provided you agree, we will arrange to pay the Estate Agent’s commission out of the sale proceeds and send the balance of monies to you
• The Transfer Deed and any Title Deeds will then be sent to the buyers’ solicitors.