Selling Your House
What is involved in a remortgage
This is simply where you pay off your existing mortgage lender with the proceeds of a mortgage from a new lender. You might want to do this because the interest rate or other terms are better. The new lender will want to check the title to the property. This check is generally less extensive than on a purchase and often a mortgage lender will be satisfied with search or title insurance, thus saving on costs. Often a mortgage lender will agree to cover the legal costs if the borrower chooses to use the lender’s own lawyers.
Other frequently asked questions
- How much is my house worth? Do some research – get an idea of how much your house is worth http://www.mouseprice.co.uk/ ...
- How should I choose an estate agent? Should be a member of the National Association of Estate Agents - http://www.naea.co.uk - have ...
- My estate agent wants me to sign a contract giving him ‘sole agency rights’. Is this a good idea? This ties you into a an agency for a particular period of time – if ...
- My estate agent wants me to sign a contract giving him ‘sole agency rights’. Is this a good idea? This ties you into an agency for a particular period of time – if the ...
- I want to advertise my house with lots of different agents. Can I do this? Advertising with lots of agents can sound like a good idea – ensures that you ...
- I want to sell my house privately. Is this a good idea and how do I do it? It depends – you are likely to pay far less in terms of commission, but ...
- I have instructed an estate agent to sell my house, but a friend of mine now wants to buy it. Do I still have to pay the agent? Depends on agreement with agency – some have provisions that can mean you have to ...
- What is conveyancing? Technical name for the legal work carried out during the process of buying or selling ...
- Where are my deeds? One of three places – with the conveyancer who acted when you bought the house, ...
- What are property information forms? Made up of two or three forms – property information, fixtures, fittings and contents and ...
- What are ‘Office Copies’? Old name for copy of land register – now called Title Information Document – requested ...
- Why is my solicitor carrying out a bankruptcy search? Will be a requirement of your mortgage lender and the lender for your buyers – ...
- My mortgage lender is charging me an early redemption penalty. What is this and can I avoid paying it? Most mortgage products have a penalty charge to pay if you redeem the mortgage within ...
- My buyers have asked me to extend my lease. How do I do this? Speak to your conveyancer – will need to determine who will pay for extension and ...
- My buyer cannot give me a 10% deposit, but still wants to proceed with the purchase. Should I be concerned? Most house transactions traditionally have a 10% deposit – parties usually agree less if there ...
