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At Domus Residential, we understand that moving home can be stressful, and delays in the conveyancing process only add to the pressure. With over 22 years of experience and a commitment to transparency and proactive service, we believe many delays can be minimized with the right preparation and approach. Here are our top tips to help keep your sale on track and moving forward seamlessly.
1. Instruct Your Conveyancer Early:
Engage a conveyancing solicitor before making an offer. Completing anti-money laundering (AML) checks and providing identification documents early helps prevent delays. Ensure your documents include a photo ID and proof of address, as some restrictions apply to using a driver’s license for both.
2. Secure Your Mortgage Promptly:
Select your mortgage type and lender before house hunting. Obtaining a mortgage agreement in principle (AIP) shows you’re a credible buyer. Once your offer is accepted, finalize the full application swiftly to save time. A mortgage broker can help streamline the process.
3. Consider Bridging Loans for Quick Purchases:
Bridging loans provide short-term financing to help complete a property purchase before selling an existing property or for auction buys. While they can help you secure a desired property quickly, they come with higher interest rates and fees. Always consult financial and legal experts before proceeding.
4. Notify Your Solicitor About a Gifted Deposit:
If part of your deposit is a gift, inform your solicitor early to handle required documentation and anti-money laundering checks smoothly.
5. Inform Your Solicitor When Buying Through a Limited Company:
Notify your solicitor upfront if purchasing through a limited company, as this involves extra checks and legal requirements that can delay the process.
6. Arrange a Property Survey Quickly:
Book a property survey promptly to identify structural issues and make informed decisions, potentially renegotiating the price or requesting repairs.
7. Prepare for Building Insurance:
Have building insurance in place by the exchange of contracts, as it’s often a requirement from mortgage lenders.
8. Stay Organised and Track Key Dates:
Keep financial documents in order and be mindful of critical deadlines, such as your mortgage offer’s expiration date, to prevent delays.
9. Choose an Experienced and Accredited Law Firm:
Select a conveyancer with Conveyancing Quality Scheme (CQS) accreditation to handle challenges effectively and ensure a smoother process.
10. Stay Proactive and Ask Questions:
Maintain communication with your solicitor and estate agent, schedule regular updates, and don’t hesitate to ask questions for clarity and efficiency.
