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Showing posts from April, 2012

Why moving home with a mortgage will cost more and take longer

Why do some mortgage companies insist you go to one solicitor for your mortgage and a different one for your purchase?
For many years one solicitor would act for both you and the lender because in the main your respective interests would be the similar.    You both wish to purchase a property without any adverse legal consequences.   This is known as a “joint representation” transaction.
The benefit of this is that providing your solicitor was on the lender’s general panel one overall fee would be charged.
However, some mortgage lenders in response to increasing concerns with levels of mortgage fraud and poor conveyancing practice have decided to limit the number of firms that can act on their behalf.
This “separate representation” approach means the lender will appoint a solicitor to act on their behalf and you are able to instruct your own solicitor.   Generally there is no restriction on which firm you choose providing they are on the lender’s general conveyancing panel.  
However ther…

New energy rules for those selling and buying homes

The rules on the display of energy ratings (Energy Performance Certificates (EPC)) for homes have changed.
Those advertising property such as estate agents must now (as from the 6th April) :
Include the 1st page of the EPC for all sales and lettings properties in printed and electronic property particulars.
Have ordered an EPC prior to marketing and to produce  it within 7 days of marketingIf you are looking to market or let your property it is important for you to make sure your agent is complying with these requirements. 
Your agent must include a copy of the entire front page of the EPC document and not just the EPC graph as has currently been the case.  This includes any literature containing particulars of the property to be marketed including electronic communications such as emails.
Property particulars are defined as including at least two of the following elements:
a photograph of the building or any room in the building,a floor plan of the building,the s…