Step by step guide to moving⁄

Hannells
STEP BY STEP GUIDE
www.hannells.co.uk
[email protected]
Step by step guide to moving⁄
1 > Contact Us
Visit one of our local branches, or call us to discuss your property requirements. Our friendly
and knowledgeable team will be happy to assist you.
2> Do The
The Sums
Arrange an appointment with one of our in-house mortgage consultants and see how much
you can afford to borrow and repay per month, before selecting a property to view.
3> Choose A Property
Visit www.hannells.co.uk to view all of our available properties and arrange viewings on
those that suit your requirements. If you can’t decide, request details of the properties that
you’re interested in so you can take them away and study them.
4> Decide
After viewing the properties you’re interested in, decide which property suits your
requirements and put forward an offer to your local Hannells branch. We’ll liaise with the
Vendor and let you know as soon as possible whether your offer has been accepted or not.
5> Qualify
Once you’re offer is accepted, we’ll need to see your Mortgage Approval in Principle, proof of
your deposit, details of the Solicitor you’ll be using and your identification. We can then take
the property off the market. If you don’t have a Mortgage Approval in Principle or a chosen
Solicitor, talk to one of the Hannells team and we’ll be happy to assist you with this.
6> Instruct
Oncewe have received the above information, we’ll send out a memorandum of sale to all of
the parties involved. You’ll also need to instruct your chosen Solicitor to act for you. Your
Solicitor will ask for a payment on account in order to apply for searches etc. We can offer
advice on which local soicitors are proactive and competitively priced. At this time you should
also apply for your mortgage.
Hannells
STEP BY STEP GUIDE
www.hannells.co.uk
[email protected]
Step by step guide to moving⁄
7> Conveyancing Process
Your Solicitor will progress the legal side of your purchase/sale. During this time, the following
will happen:
•
•
•
The Vendor’s Solicitor will issue draft contracts
Your Solicitor will collate the searches and raise enquiries
Your mortgage lender will arrange a survey on the property
Once your Solicitor has all of your searches, answers to any enquiries they have raised and
your mortgage offer, they will invite you to see them in order to sign and exchange contracts.
You will also need to provide them with your cleared desposit funds at this time.
During the conveyancing process, here at Hannells we provide you with regular updates.
Whilst we have absolutely no control over what and when things happen during this period,
we will endeavour to keep you fully informed of progress up until legal completion.
8> Exchange Contracts
This is when all parties in the chain are legally bound to move/sell. At this time, a moving date
is set (legal completion).
9> Moving In Day
Your Solicitor will have requested and received your mortgage monies and it is their job to put
these monies into the banking system. As soon as the money is with the Vendor’s Solicitor,
you will be able to pick up your keys and start moving in to your new home!
For further information about the moving process, please do not hesitate to
call, email or visit your local branch of Hannells. WeÊre here to help!
Allestree
Alvaston:
Chaddesden:
01332 556633
01332 573130
01332 281400
Chellaston:
Littleover:
Littleover
Mickleover:
01332 705505
01332 773399
01332 540522
Hannells
F.A.Q
Frequently Answered Questions⁄
www.hannells.co.uk
[email protected]
What is a “Mortgage
“Mortgage agreement
agreement in principle”?
principle”?
A Mortgage Agreement in Principle is confirmation from your lender that, subject to various terms and conditions,
they would be prepared to lend you a certain amount of money. Before you start to look at properties, we suggest
that you look into how much you can borrow. This will give you a much better idea of your budget and will also add
more credibility to any offers that you put forward on properties.
Where can I get a mortgage agreement in principle?
principle?
Your lender/financial advisor should be able to provide you with a Mortgage Agreement in Principle. If you don’t have
one, our very own in-house mortgage experts can provide one for you.
How much does it all cost?
This depends on a variety of circumstances such as stamp duty, purchase price, choice of lender etc. and prices for
certain services do vary depending on who you use. Here at Hannells, we work closely with a variety of excellent local
businesses, all of which offer very competitive rates. Talk to your local branch of Hannells to see how we can help to
save you money on your move.
What is stamp duty (SDLT)?
(SDLT)?
Stamp Duty (SDLT) is a tax on land and property transactions. This is paid straight to the Government and is usually
due within 30 days of completion. Your Solicitor will make the necessary arrangements for it to be paid. The Stamp
Duty thresholds are listed below:
•
•
•
•
•
Anything up to £125,000 = No Stamp Duty
£125,001 - £250,000 = 1% of the purchase price
£250,001 - £500,000 = 3% of the purchase price
£500,001 - £1,000,000 = 4% of the purchase price
£1,000,001 - £2,000,000 = 5% of the purchase price
How long does it take to purchase a property?
Again this is dependent on a variety of factors, including how many people are involved in the chain, how fast your
Solicitor is (we would always recommend using a local Solicitor) and how long it takes for your mortgage offer to
come through. Typically, we would advise between 8-10 weeks from the point of instruction to legal completion.
When does completion normally take place?
Most completions will happen on a Friday. The keys for the property cannot be released until your agent has received
a call from the Solicitor to say that all of the funds have been successfully transferred. This usually happens around
lunch time.
Hannells
BUYING CHECKLIST
Tick Date
See A Mortgage Adviser To Determine
Budget*
Find The Right Property
Put An Offer Forward
Offer Accepted
Get Quotes For Reputable Local
Solicitors*
Instruct Your Chosen Solicitor And Pay
Your Search Fees
Apply For Your Mortgage
Agree On An Exchange Date
www.hannells.co.uk
[email protected]
Exchange Date
Sign Contracts, Transfer Deposit Funds
And Agree Completion Date
Completion Date
Arrange Removals*
Arrange Buildings & Contents Insurance*
Pick Up Keys And Move In!
* Here at Hannells, we work closely with several
local businesses that provide an excellent service
to our customers.
Therefore, should you need to organise a
mortgage, solicitors, insurances or even removals,
removals
please speak to a member of the Hannells team
and theyÊll be able to provide you with an
extremely competitive quote for a quality service
that you wonÊt find elsewhere.