If you are buying, selling or remortgaging UK property then you will need to find a Lender approved Conveyancer. So many websites now offer this service, but very few allow you to compare conveyancing quotes without the need to enter your personal details – Introducing Homebuyer Conveyancing. A conveyancing comparison service that has provided valuable pricing insights to both Homeowners and Investors. They can quickly and efficiently review online conveyancing quotes and when the time is right they can take a quote away and schedule a call back to discuss their quote. The purchase quotes include a comprehensive search pack that includes chancel and a search pledge.
Conveyancing Quotes Including Search Pledge
The search pledge provides another set of property searches for Free should your transaction fail through no fault of your own. This is a great safety net especially in the current property market.
Why Compare Conveyancing Costs?
Comparison websites came into their own when car owners wanted to compare the cost of their car insurance at renewal time. The task of calling many Insurance companies to get quotes was made easy by having many providers under one roof. Conveyancing is no different.
A good conveyancing comparison website such as Homebuyer will let you compare and give you time to carry out due diligence on your potential instructed Solicitor or Conveyancer firm. The quotes must include all legal fees and disbursements, so that you can make an informed decision on who to instruct. The ideal time to instruct is when you place your property on the market for sale.
Since the Pandemic Solicitors can easily manage conveyancing without the need to meet the Seller or Buyer. A local or national Solicitor will do.
It makes sense to compare conveyancing fees and costs by price, postcode location and by Mortgage Lender. Many Homeowners take the initiative to compare both sale and purchase conveyancing quotes. They save the hassle of working with two solicitors, as the same solicitor can act for both. They can use the upper end of their property affordability budget and then review the costs later when they know the actual price of the property by going back onto the Homebuyer Conveyancing quoting website.
Whats Happening With The UK Property Market in 2023?
The UK market will bounce back as mortgage rates decrease. The main issue is that so many Buyers of property would like the mortgage rate back at say 2% fixed for 5 years. Is that really going to happen?
The bank Base rate has increased and the mortgage rate has decreased. An unusual situation but expected as quite simply Mortgage Lenders were not lending when interest rates went above 4.5%. So they had to attract Buyers and investors by dropping their rates. They can’t drop too much as they are assuming that the base rate has peaked, or almost and that they will make money when they have fixed rates of 4% over 5 years.
We believe mortgage rates might drop to 3.5% over the next 6 months but unlikely to drop any further for at least 2 years.
Buy To Let Is On The UP
The Buy to let market has gained momentum as rents are at an all-time high. With property values decreasing the good news for Investors is that Property Yields are on the up. Developers can’t afford to build the housing stock that they would like to and so this is perfect timing for Investors to take advantage of this distressed property market.
Over time we know that investors with cash make massive wealth gains when so many others are in financial turmoil. It’s not a scenario that we like to talk about. In our view the Buy to let market is on the up and properties under the £250k mark will be the focus. City centre apartments are still great investments especially if in demand from Students. The Buy to let market has moved from cheap and cheerful to a more discerning Renter. The young professionals want the best and are happy to pay for it.
This year we see that the EPC for investment property must be of a specific level and by 2025 the rating must be level C or above. Current properties have until 2028 to comply with the recent change.
What Are Existing Homeowners Thinking About?
Homeowners are working out their monthly outgoings and deciding what they can do to get these down. Their focus is on the energy costs. They can insulate to bring their energy costs down. They can look at more eco friendly ways of heating their home and of course so many are now down sizing to a property where the energy costs will be lower, they hope.
It’s a complicated area as properties in conservation areas cannot have UPVC windows they must use secondary or have their older style windows encapsulated.
So much to think about and not enough time, which is why a conveyancing comparison website is ideal to understand the legal costs when moving home, remortgaging or dealing with buy to let property. Everyone wants answers now and a good comparison website provides just that.
In 2023 we will see an increase in Buy to Let, Homeowners at pensionable age or just before will be downsizing and the First Time Buyers will get confident that mortgage rates are almost at their lowest rate for some years to come. We will see more support for First time Buyers from Developers, simply because they recognise that the ease of dealing with a First Time Buyer makes sense to their cash flow. They can plan without taking into account the detrimental affect property chains have on progress. The longer the property chain the more complex the deal is and unfortunately this is when property deals fail or come unstuck.
The Top Tips If You Are Thinking Of Moving Are :-
- Understand your affordability
- Use a lender approved Solicitor or Conveyancer
- Understand your cost of conveyancing for your specific property type
- Use a Conveyancing comparison website such as Homebuyer Conveyancing that provides valuable insights to the costs involved and not headline low pricing
- Ensure that your Solicitor is SRA or Conveyancer is CLC registered.
- Make your move and check out your Solicitor or Conveyancer using google reviews
- Take a conveyancing quote away and discuss your quote with your potential appointed Solicitor
- Make progress and Instruct a Solicitor with full knowledge of the cost involved when you place your property for sale. Be ahead and get your sale contract ready
- Return documents promptly to the Solicitor, next day if possible.
- Understand the Key conveyancing millstones so that you an track your conveyance using meaningful updates
Buyers and sellers need a plan of action. Being able to budget for conveyancing makes such a difference when making key life changing decisions. If you are on the move and need that helping hand then do visit the Homebuyer Conveyancing website. Its not just online they also have a conveyancer finder helpline on 0345 463 7664
