Legal work

The conveyancing process will then be carried out by your solicitor or conveyancer.

It is wise to converse regularly with your legal workers and for further advice regarding the conveyancing process and legal work see our ‘Guide to the Conveyancing Process’.

Getting life assurance

As financial commitments go, your mortgage repayments will be the biggest you or your family will ever make. It is not something that you would want to consider too often but if the unthinkable were to happen to you, your family are going to be left with a huge debt and reduced income to deal with, as if the bereavement, accident or illness was not enough.

Life assurance is therefore highly recommended as it will cover your family in their time of need, giving them one less thing to worry about.

Finalize your mortgage and exchange contracts

Once the contracts are exchanged and you have paid the deposit you are no longer free to change your mind or pull out of the move. Both parties are legally bound to follow through with the transaction.

The deposit is non-refundable and is negotiable, but it is often around 10% of the purchase price.

Bridging Loans can be arranged from your bank if you are not in a position to pay the money immediately. 

Your solicitor will then draw up the transfer documents for the seller’s solicitor, arrange the finalization and signing of your mortgage documents, and carry out any last minute searches.

Organizing the move and the finalization of contracts

All that is left now is for you to arrange for your moving in day and to tie up a few loose ends.

Arranging for your moving in day may include: booking time off work, new address notifications, hiring a removal van, arranging for insurance for various different things, activating any services that have been ceased and ordering the champagne!

Have a read of ‘Moving House’ in the guides section for some valuable pointers to help with organizing your move and to make it as pleasant as possible.

Meanwhile your solicitor will be sending you the transfer document and title deeds and carrying out final pieces of administration with regard to the land registry and statements of completion.

And unfortunately there is also the small matter of their payment and the payment of any extra costs that have not already been sorted.

But on the bright side, the time has now come to…

Get the keys, move in and enjoy your new home!