Solicitors

Chosing the right solicitor

Solicitors  play a hugely important role in the purchase of a property (a process known as conveyancing). Their primary role is to ensure that you are getting what you are paying for and you are protected against the many risks involved in taking ownership of land and property. If a solicitor cuts corners you could find you do not own the land you thought you did, you might have environmental or structural issues that cost you in the long run, or that you may be liable for costs you did not expect. Buying property is a stressful and difficult time however and lack of communication and delays can lead to house sales falling through. As a result, speed and efficiency are extremely important. Costs can also vary significantly across a number of different firms too and it can be very hard to know how to balance these factors.

Fortunately at AALTO Mortgage and Property Solutions we have extensive experience in dealing with different solicitor firms and can recommend the best solicitor for the job based on the qualifications they hold, their cost and the feedback from other brokers and clients regarding communication, speed, accuracy and overall satisfaction. When quoting we provide an all inclusive price including VAT, disbursements (third party costs such as local authority searches) and other known costs such as dealing with the legals associated leasehold or Buy to Let properties so you know exactly what will be payable on completion. To further safeguard clients we will not use solicitors that are not accredited by the Law Society, an independent organisation that regulates and oversees solicitors across the UK.

More importantly all solicitors we recommend work on a no-sale, no fee guarantee that ensures that if the sale does not go ahead for whatever reason, there is no fee payable for work carried out by the solicitor. Any fees paid out to third parties such as local authority for search fees are unfortunately non-refundable however.

Once instructed the solicitors will provide excellent step by step feedback by email and are contactable on the telephone, via your broker or on their direct email address to ensure you are always kept informed and up to date.

The following is a summary of the typical conveyancing steps required to purchase a home:

Conveyancing Steps

  1. The Estate Agent sends us details of the deal reached.
  2. We contact the Seller’s solicitor, requesting information about the title of the property.
  3. You progress obtaining your mortgage offer including any survey.
  4. We receive an ‘Information Pack’ from the Seller’s Solicitor about the property.
  5. We raise any queries about the title to the property.
  6. We use the plan to the property to conduct various local searches.
  7. We report to you having received:
    • The search results
    • Replies to any enquiries we have raised with the Seller’s Solicitor
    • An agreed format for the Contract with the Seller’s Solicitor
    • A mortgage offer from your Lender
  8. If you are happy to proceed you return:
    • The Contract duly signed
    • The signed mortgage deed
    • A deposit usually representing 10% of the purchase price, which is needed in anticipation
    • of exchange
    • You also tell us when you would like to move into your new property (the completion date)
  9. Once the buyer and the seller are ready, a Completion Date (the moving date) is provisionally agreed with the other party.
  10. Contracts are then exchanged. The sale is now legally binding.
  11. We request funds from your new lender to pay for the purchase.
  12. We request any balance money required for the purchase from you.
  13. We do some legally required searches.
  14. A Transfer Deed is signed to put the property into your ownership ready for Completion day.
  15. On Completion day We receive your mortgage monies and pay the balance of the purchase price to the Seller’s Solicitor.
  16. Once the Seller’s Solicitor has received the money the keys are released to you and you can move in.