Have a property question?
Straight answers to the questions people ask when they buy, sell and move, with what to do next.
Buying questions
What happens after my offer is accepted?
Once your offer is accepted, the agent sends a memorandum of sale to both sides, you instruct a solicitor, and your mortgage application and survey get underway.
Answers 3 questions · 5 min readHow does buying a house work?
You usually get a mortgage in principle, find a home and make an offer, then instruct a solicitor.
Answers 3 questions · 3 min readHow much does it cost to buy a house?
On top of the price, budget for your deposit, Stamp Duty (depending on the price and where you buy), legal fees and disbursements, a survey, any mortgage fees, and removals.
Answers 2 questions · 3 min readWhat happens if I’m in a property chain?
A chain is a line of linked sales and purchases that depend on each other.
Answers 3 questions · 3 min readSelling questions
How do I sell my house?
Get your home valued, choose an agent, get your EPC and instruct a solicitor early.
Answers 4 questions · 3 min readIs an accepted offer legally binding?
No.
Answers 4 questions · 2 min readWhat happens to my mortgage when I sell?
Your solicitor gets a redemption statement from your lender and pays off the mortgage from the sale money on completion.
Answers 3 questions · 2 min readConveyancing questions
How long does conveyancing take?
A straightforward transaction can sometimes complete within several weeks, but there’s no fixed timeframe.
Answers 4 questions · 5 min readHow much does conveyancing cost?
Conveyancing costs are the firm’s legal fee plus disbursements: costs paid to others, such as searches and Land Registry fees.
Answers 3 questions · 3 min readWhat are property searches?
Searches are checks your solicitor orders on the property and its area.
Answers 6 questions · 4 min readWhat are conveyancing enquiries?
Enquiries are questions your solicitor asks the seller’s solicitor after reviewing the contract, searches and forms.
Answers 3 questions · 3 min readSolicitor or conveyancer: what’s the difference?
Both can handle your move.
Answers 5 questions · 3 min readMortgages questions
What is a mortgage in principle?
A mortgage in principle is a lender’s early indication of how much it may lend you.
Answers 3 questions · 2 min readHow much can I borrow?
Lenders look at your income, outgoings, debts, deposit and credit history, and check you could still afford payments if rates rose.
Answers 4 questions · 3 min readShould I use a mortgage broker?
A broker can compare deals across many lenders and help with your application, which is especially useful if your circumstances aren’t straightforward.
Answers 2 questions · 2 min readHow long does a mortgage offer last?
Mortgage offers commonly last around three to six months.
Answers 3 questions · 2 min readWhen should I remortgage?
It’s usually worth reviewing your options around six months before your current deal ends, so you don’t move onto your lender’s standard variable rate.
Answers 2 questions · 2 min readSurveys questions
Leasehold questions
Leasehold vs freehold: what’s the difference?
Freehold means you own the building and the land it stands on.
Answers 7 questions · 3 min readHow long should a lease be?
Many lenders prefer at least 80 years left on a lease, and some want more.
Answers 3 questions · 2 min readWhat is an LPE1 and a management pack?
An LPE1 is a standard form of leasehold information, usually part of a management pack from the managing agent or freeholder.
Answers 3 questions · 3 min readExchange & completion questions
What happens at exchange of contracts?
At exchange, both solicitors swap signed contracts and fix the completion date.
Answers 7 questions · 5 min readWhat happens on completion day?
On completion day, the buyer’s solicitor sends the money to the seller’s solicitor.
Answers 5 questions · 4 min readMoving house questions
When should I book removals?
Book as soon as you have a completion date, which is usually set at exchange.
Answers 4 questions · 2 min readWho needs to know I’ve moved?
Tell your bank, credit providers, employer, HMRC, DVLA, GP, dentist, insurers, utilities, your council and subscriptions.
Answers 6 questions · 2 min readWhat if completion dates don’t match?
If you have to leave before you can move in, short-term storage and temporary accommodation bridge the gap.
Answers 2 questions · 2 min readFirst-time buyer hub
How does buying a house work?
You usually get a mortgage in principle, find a home and make an offer, then instruct a solicitor.
Answers 3 questions · 3 min readHow much does it cost to buy a house?
On top of the price, budget for your deposit, Stamp Duty (depending on the price and where you buy), legal fees and disbursements, a survey, any mortgage fees, and removals.
Answers 2 questions · 3 min readWhat is a mortgage in principle?
A mortgage in principle is a lender’s early indication of how much it may lend you.
Answers 3 questions · 2 min readHow much can I borrow?
Lenders look at your income, outgoings, debts, deposit and credit history, and check you could still afford payments if rates rose.
Answers 4 questions · 3 min readWhat happens after my offer is accepted?
Once your offer is accepted, the agent sends a memorandum of sale to both sides, you instruct a solicitor, and your mortgage application and survey get underway.
Answers 3 questions · 5 min readDo I need a house survey?
A survey isn’t a legal requirement, but it’s usually worth having.
Answers 8 questions · 5 min readWhat happens at exchange of contracts?
At exchange, both solicitors swap signed contracts and fix the completion date.
Answers 7 questions · 5 min readWhat happens on completion day?
On completion day, the buyer’s solicitor sends the money to the seller’s solicitor.
Answers 5 questions · 4 min readProperfy Explains
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