Croftons Conveyancing

Here are some of the questions we get asked most frequently but why not speak with us directly? To find out how we can help with all your conveyancing needs call 0845 838 7013, use the online form or request a free callback and speak with our friendly professional team.

1. How long does the process take?

This varies from case to case and will depend on a number of factors. A standard transaction, without complications, usually takes six to ten weeks. You can expect six to eight weeks to get to exchange of contracts and then another two to four weeks to completion. We will try and move your sale or purchase along as quickly as we can but there are some factors which are outside our control, such as your mortgage offer, delays on the part of the person you are buying from or selling to or delays up or down the chain.  We will gladly provide you with updates on timescales, when we know the specifics of your situation.

2. What is Stamp Duty Land Tax?

SDLT is the tax you pay when you buy property, the rate of SDLT you pay depends on the purchase price, as follows:-

Purchase price/lease premium or transfer value	SDLT rate	SDLT rate for first-time buyers
£0 to £125,000.00	0%	0%
£250,001.00 – £500,000.00	1%	0%
£0 to £125,000.00	3%	3%
£500,000 to £1 million	4%	4%
Over £1 million	5%	5%

Once you are in a particular price band, you unfortunately have to pay the percentage shown on the whole of the purchase price.

3. When should I apply for a mortgage?

You should at least obtain a mortgage in principle from a number of lenders before you start to view properties, as not only will this speed up the process, but a seller is more likely to accept your offer if they know you already have an offer in principle.

4. When should I instruct my solicitor?

If you are selling, instruct solicitors prior to putting the property on the market and if you are buying, you should instruct solicitors before you make an offer as estate agents will want your solicitors’ details when your offer is accepted.

5. Do I need a survey?

Your mortgage lender (if you are obtaining a mortgage) will require a valuation of the property. The valuation is for the lender’s benefit and not yours. Therefore, we recommend that you have an independent survey carried out. Always remember the golden rule is “buyer beware” so you will be liable for any problems that you discover after exchange of contracts.

6. When and how do I get the keys?

It is usual for the estate agents to have the keys and if you are buying a house you will be able to pick them up from the estate agents on the day of completion (once the money has reached the seller’s solicitors’ account).

7. Do I pay my estate agents myself?

On your sale we will pay the estate agents direct from the sale proceeds. We will also pay your existing mortgage lender the outstanding amount due under your mortgage.

8. When do I get my money?

If you are selling or there is a surplus due back to you after the completion of your sale and purchase we will always try to send this to you on the day of completion or at the very latest, on the next working day.

Payment is usually made by cheque but for larger amounts we can transfer the money direct to your bank if you request this in advance and provide us with your account details. There may be an additional bank transfer fee for this.

To find out more you can telephone us on 0845 838 7013 and speak to one of our property lawyers. Alternatively, you could email us at homelegal@croftons.co.uk or use the online form.