When buying a property in the UK, buyers are responsible for satisfying themselves about every aspect of the purchase. Saracens Solicitors London mortgage solicitor can offer valuable advice and insights, yet it is your responsibility as the buyer to obtain a mortgage or other finance to fund the purchase and be satisfied with the state of the property.
Your London mortgage solicitor will co-operate with the seller’s solicitor in order to negotiate provisions and warranties in the purchase contract and other legal paperwork that needs to be fulfilled. Residential conveyancing occasionally involves a chain of transactions that can be quite long and complicated, therefore entrusting Saracens Solicitors London mortgage solicitor to guide you through the process will save you time and money in the long run.
Can my solicitor act for the other side?
Generally speaking, Saracens Solicitors would not do that. In rare cases, where both parties have contacted us and instructed us on separate occasions, we may consider the possibility as long as there is consent between our clients and the lender. In any case, a different mortgage solicitor will be employed.
Can you recommend a surveyor to carry out the inspection?
Finding an experienced surveyor is really important, since they will check the property over and over for you on different occasions and come back with a helpful report on issues regarding the structure. If you are buying the house through a mortgage scheme, you need to employ a surveyor. Saracens Solicitors can often recommend surveyors, but it would best to ask as early as possible in your transaction.
Do I need to show how I have gathered my funds?
If you intend to buy the property with your own funds or any funds over and above provided by an institutional lender securing a mortgage, you need to provide evidence of how their funds were accumulated in compliance with the UK money laundering regulations. This requirement is not optional and your London mortgage solicitor will inform you of the repercussions if you fail to oblige. Suitable documents include salary slips, or details of a previous house sale. Your solicitor will guide you, even if your situation is more complicated than that.