OUR INDUSTRY BLOG
What does a mortgage valuation involve?
If the mortgage valuer 'downvalues' your property it could blow the whole deal out of the water. It pays to be nice to the mortgage valuer! Banks and Building Societies normally appoint chartered surveyors to carry out valuations for mortgage lending purposes. So...
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What exactly is a survey?
Mortgage valuations are sometimes mistakenly called 'surveys' So what's a survey? Most buyers require a mortgage. So before handing over shed loads of cash, the mortgage lender will want to be sure that the property you’re buying with their money really is worth the...
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Surveys and valuations – Why go naked without a survey?
The only law that applies when buying property is the law of the jungle - better known as "Buyer beware". Why book a survey? If you buy a cereal bar and it turns out to be stale or mouldy, the full force of the law will be on your side. You can demand your money back,...
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Hidden legal nasties – that even the most expensive survey won’t warn you about.
How to spot hidden restrictions that could stop you extending, or running a business, or that give someone else the right to live there! Restrictive covenants Restrictive covenants are ‘promises not to do something’ contained in the original deeds. Usually dreamed up...
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Turning detective – what surveys don’t tell you
Here's how to check the house you're buying is clear of debt, with no hidden restrictions - and that the person selling it is actually the owner! Registered property 'Registration of title' became compulsory for properties sold from as early as 1898 in London. This...
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What if the property you’re buying isn’t registered?
If a property isn't 'registered' you could be in for a nasty surprise! Unregistered properties The vast majority of UK property is ‘registered’. This means that ownership is officially recorded at the Land Registry in London and guaranteed by the State. But on rare...
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More On The Law – Title Deeds
Understanding the legal process - conveyancing - is key to a successful house purchase. TITLE DEEDS Buying and selling property depends on your conveyancers digging out information from official records or registers. The first thing to note is that property is legally...
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Reason Number 2 – why house purchases often crash
Delays with the legal process - the conveyancing - are the second common cause of property deals falling apart. Here's how to improve your chances of success. SPEEDING UP THE LEGAL WORK A good, experienced solicitor/conveyancer can make all the difference to achieving...
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Two Big Reasons Why Deals Collapse
Statistically there are two major culprits when it comes to deals falling through – mortgage problems and legal delays. Here are some tips to improve your chances of success by speeding up your mortgage (the following blog covers legal delays) . GETTING A QUICKER...
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Speeding up your purchase – before the deal falls through!
You now have one single overriding objective: to get to exchange of contracts as quickly as possible. Once you’ve exchanged you’re pretty much legally home and dry, and can afford to relax a little, but until then every extra day of unnecessary delay means a greater...
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