The Services of a Mortgage Solicitor in London

Property SolicitorEven though the price of houses in the UK, and particularly London, just keep going up and up, most people still aim to be a homeowner. But with the deposit for a house now often being more than the entire cost for previous generations, fewer people can buy their houses outright. The actual process of buying has been the same for a long time, and usually requires a mortgage solicitor in London.

A mortgage solicitor in London carries out the legal work involved in buying a house. Having a solicitor can take a lot of the stress out of buying a house, whether the person is a first-time buyer and new to the process (a stress in itself), or is in a chain involving a number of other buyers (another kind of highly stressful situation that depends on every buyer in the chain completing their sales at the same time). There are mortgage solicitors all over London. In the West End, Saracens Solicitors has a good reputation.

In England and Wales, buying a house is a fairly straightforward process that takes 6-10 weeks, providing everything is smooth sailing.

Searches make up a large part of the initial work. These include:

Local authority searches

The mortgage solicitor in London checks all the information about the property that the local authority holds, as well as looking at any plans for developments and roads that will be taking place nearby. These searches also reveal who is responsible for keeping up any paths or roads that adjoin the property. These searches cost between £70-£400.

Land Registry searches

This search is to check that the seller is indeed the legal owner of the property and therefore entitled to sell it. These searches cost £3.

Environmental searches

These searches check if the property is built on or near contaminated land or water, or landfill. Mortgage lenders insist on these searches to prevent the later discovery that the house is worthless or liable to flooding.

Water authority searches

To check where the property’s water comes from and whether the property has any public drains on it, which could affect any building work.