• Mortgage costs
  –the administration fee for setting up the mortgage and the mortgage valuation. Not all mortgagors charge for these. www.fsa.gov.uk/consumer/07_MORTGAGES/costs/costs.html
• Survey
  It is recommended that a detailed survey of the property is undertaken so that you are fully aware of any defects prior to purchasing. There are two types of Survey – a homebuyers report and a Building Surveyor – which is more detailed. Homebuyer: this is a basic survey that will give you a general overview of the property. Full structural is recommended for older properties and those in need of work, or simply for peace of mind. Although expensive, it is worthwhile.
• Ask what type of survey the surveyor recommends, and why.
• Make sure the survey covers all your areas of concern. (The surveyor cannot be held responsible for things he or she does not agree to check).
• Check the cost and timing of any work that needs to be carried out.
• Check that the surveyor has professional indemnity insurance.
• Get these points agreed in writing.

• Legal/Conveyancing Fees
  The solicitor or conveyancer will check all aspects of the legal title to the property to ensure there is nothing onerous which may affect subsequent sales. It is important to ensure that you are confident with your chosen legal representative before appointing them. You can find details of solicitors or conveyancers in your area by going to the Law Society Website. http://www.lawsociety.org.uk/choosingandusing/findasolicitor.law



• Stamp Duty
  Stamp Duty is Land Tax on property i.e., houses, flats, other buildings and land. If the purchase price is £125,000 or less (effective 23 March 2006), you don't pay any Stamp Duty Land Tax at all. If it's more than £125,000, you pay between one and four per cent of the whole purchase price, on a sliding scale.
  http://www.hmrc.gov.uk/manuals/sdltmanual/SDLTM00050.htm

• Stamp Duty Land Tax Exemption in 'Disadvantaged Areas
  –In some case You do not have to pay any Stamp Duty Land Tax if all of the following apply to the property you are buying:
• it is in a designated 'disadvantaged area'
• it is residential
• the purchase price is £150,000 or less

• Land Registry Fee
  The Land Registry is a government department which looks after the registers of all registered properties in England and Wales. It charges a fee for transferring the register to the new owner. This fee is charged according to property price.

• Local Authority Search Fees. Other Search Fees and Disbursements
  (Usually arranged by the solicitor or conveyancer) the solicitor will identify which searches are appropriate but the following are the main ones:

• House-hunting expenses - traveling, newspapers etc
• Removal Fees
• Removals Insurance
• Building and Contents Insurance
• Mail redirection
• Contingency fund – i.e. work that may need to be done before moving in

Home Information Pack Information

With effect from the 14th December 2007, all residential properties for sale will require Home Information Pack if the property falls within the scope of the scheme. The HIP must be commissioned before marketing can begin.

Potential buyers have a right to a copy of the Pack and this should be provided within 14 days of request. Sellers are entitled to make a reasonable charge to cover copying and postage costs and may also refuse to provide a copy in certain limited cases. These are where the seller believes that the person making the request:

• Could not afford the property
• Is not really interested in buying the property
• Is not a person to whom the seller would wish to sell the property (but this does not allow them to unlawfully discriminate against someone)?

Home Information Packs are free to buyers, although a reasonable charge may be made for copying and postage. Within the pack you should expect to see the following compulsory documents:

• Home Information Pack Index
• Energy Performance Certificate
• Sale statement
• Standard searches
• Evidence of title
• Additional information for leasehold and commonhold sales, where appropriate.

Other documents such as a Home Condition Report, an environmental or flood risk search and other information that would be of interest to a potential buyer as defined in the regulations may also be included. It is the seller who is responsible for the cost and preparation of a Home Information Pack.

• Location Location Location! _ the key phase is property searching.
• Type of Property – Detached, Flat, requires renovation, investment.
• Features of the Property – i.e. number of bedrooms, garden.
• Freehold, Leasehold or Commonhold.
• Local Area, Amenities and Crime Statistic– schools, shops, parks http://www.upmystreet.com provides this information.
• Infrastructure – roads, rail and public transport links, broadband
• Council Tax Band
• Development – is there any major development taking place in the areas. This maybe a positive factor in the long term but an inconvenience in the short
• Local Property Prices
• Environmental Considerations – e.g. development on a flood plane The environmental agency website can provide information about this http://www.environment-agency.gov.uk

• Register with Bright Property under the Wanted Ad.
• Bright Property website,

• Where possible try and arrange viewings as soon as the property comes on the market.
• Take the property details along with you and a contact number if you are running late
• Make notes – you may not remember all aspects of the property if you are viewing many. Taking photographs can be a good record of the property. Ask the owners permission beforehand, though.
• View the property a number of times if you need to. At different times of the day, weekdays, weekends etc so that you get a feel for it
• Look round the area
• If you are going on your own make sure somebody knows where you are.

• How many people have viewed the property?
• How long has it been on the market?
• Why is the vendor selling it?

• The results of a property survey.
• Planning permission or other approvals.
• Confirmation that any previous occupant has moved out (‘vacant possession’).
• Contract conditions and property searches.
• Finance being arranged.

1. Who owns the property and do they have the right to sell the land to you?
2. Are there any restrictions on the use or alterations to the property?
3. Are there any current or future planning decision which may affect the property?
4. Are there any guarantees available with the property.
5. Are there any problems with the premises? For example: Does the property have all mains services? Boundary or Neighbour disputes. Connections to the mains services
6. What fixtures and fittings are included in the sale? Is the equipment owned by the vendor.
7. Are their any warranties with the equipment included?

1. Contract
   The contract will then be drawn up by the Seller’s solicitor/conveynacer which sets out the main terms of the proposed agreement, including your names and the agreed price, this will then be sent to the buyer’s solicitor. At this stage searches will be carried out.
2. Searches
   If you need assistance moving now is the time to get quotes from removal companies or enquire about hiring transport.
3. Exchange
   One the contract is agreed and all searches and surveys have been undertaking the contracts can be exchanged and a date agreed for exchange. At this point neither party can withdraw easily without the possibility of incurring financial penalties.
4. Completion
   At completion the Title Deed and transfer document will be transferred to the solicitor in exchange for the money for the house. This will then be used to repay your mortgage and the fees associated with the sale of the house. You then get the remainder, unless you are buying another property. Arrangements then have to be made for collection of the keys and then you are ready to move!