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House Buying Beta (Read 21194 times)

Will Hunt

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House Buying Beta
January 29, 2013, 01:03:36 pm
Moving on with one of my aims for 2013, we've had an offer accepted for a house and I'm keen to move the purchasing process on as quick as possible. We now need to appoint a solicitor and settle on a mortgage provider. I'm quite happy with the shopping around for providors but not really sure what to do about getting a solicitor. Are they all much of a muchness? I don't want to get shafted! The estate agent has one who they recommend, do the recommended ones usually do a decent job?
Any advice on getting the process done in a pain free manner would be great. And any recommendations of solicitors in the Bingley area would be fab!

SA Chris

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#1 Re: House Buying Beta
January 29, 2013, 01:13:34 pm
Definitely go on personal recommendations for good ones or onjes to avoid in the area, I know some friends who live in Shipley may be able to recommend, if you want?

Once you have a shortlist (half a dozen or so) I would ask them for an quote of estimated of costs based on the offered price. The good ones should be able to do this for you, avoid ones that won't. (we discarded one at this point as they could even do the maths on the estimate right!) Then do a comparison of costs.

tomtom

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#2 Re: House Buying Beta
January 29, 2013, 01:15:33 pm
Moving on with one of my aims for 2013, we've had an offer accepted for a house and I'm keen to move the purchasing process on as quick as possible. We now need to appoint a solicitor and settle on a mortgage provider. I'm quite happy with the shopping around for providors but not really sure what to do about getting a solicitor. Are they all much of a muchness? I don't want to get shafted! The estate agent has one who they recommend, do the recommended ones usually do a decent job?
Any advice on getting the process done in a pain free manner would be great. And any recommendations of solicitors in the Bingley area would be fab!

No reccomendations - ask people at work etc.. someone local rather than a national are usually better (they know local issues better - e.g. foibles on houses in that area..). Key think is to keep nagging the solicitor. Most seem to operate on the policy of having a large pile of clients files on the desk at once, and the ones at the top are those who nag most often..

Regarding surveys, I would consider getting the most basic survey that the mortgage provider requires - but then spend 3-400 on an engineers report (instead of the full wack on a full survey). I did both for my house in Hull (where there were 'settlement' issues) and the local engineers report was top notch, to the point, very detailed -  and the full blow survey full of vague statements.. which basically mean we dont know get somone else to look at it. (this is just my view - others may feel very different)

Be prepared to write lots of large cheques, and seem to throw away large amounts of money - but remember its all worth it.

andyd

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#3 Re: House Buying Beta
January 29, 2013, 01:26:22 pm
first off, you're being shafted by having them do all the 'checks'. What you mean is 'I don't want to get 'too shafted'.
My advice from limited experience:
1-It's worth considering that some some mortgage lenders (nattionwide for example) insist of certain conveyancing solicitors.
2-They don't have to be local. If your mate at home had a good experience, use them, eve though they're not in Yorshire. I'm selling (crossed fingers) my house in Birmingham, from Leeds, with a Solicitor near Bambury, Oxfordshire. I've used them before and they're good. They were recommended to me (Sprat Endicott).
3-It ain't a done deal until you've got the keys

Good luck. I bet you're dead excited. Let me know if you need a lift. I imagine you'll end up doing 74 million trips in your spacious ride. Hope you can find someone who'll rent a youth a van for the day!

tomtom

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#4 Re: House Buying Beta
January 29, 2013, 01:46:28 pm

2-They don't have to be local. If your mate at home had a good experience, use them, eve though they're not in Yorshire. I'm selling (crossed fingers) my house in Birmingham, from Leeds, with a Solicitor near Bambury, Oxfordshire. I've used them before and they're good. They were recommended to me (Sprat Endicott).


I'm the opposite, I'd be wary of nationals... Both times I've bought and sold, local solicitors have been invaluable in

1. Knowing the vendors local solicitor - and knowing all the tricks they tried to do and saving me a few quid and some time..

2. Understanding certain local legal peculiarities (here in Hull it was to do with tenfoots and alley way access)

3. Appreciating the local context - examples include a. subsidence here in Hull (which is widespread here and accepted and fine but causes all sorts of issues with national solicitors who think its the end of the world), b. my house in West Wales had a septic tank and a private water supply - all of which were perfectly normal things in the country, but very odd to the national solicitors (bedford based) working for the buyers..

Depends on what type of property you're buying of course.. Much of this is different for a 10-20yr old property than something older and more finicky..

SA Chris

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#5 Re: House Buying Beta
January 29, 2013, 01:58:55 pm
Got reply from mate - he used Hamiltons in Leeds as they are close to where he works, and he was selling in Bramley - "No issues with them, but were probably not the cheapest".

I would go for local too, better to deal with someone you can see personally and stop in if you have to sign any paperwork rather than have to do all correspondence by post, phone and email.

Paul B

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#6 Re: House Buying Beta
January 29, 2013, 03:17:24 pm
Take a look on Moneysavingexpert, they have some good advice regarding the basic do's and don't s. Generally solicitors recommended by mortgage companies aren't going to be the best deal.

tj

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#7 Re: House Buying Beta
January 29, 2013, 04:29:52 pm
We used Joanna Dennett as Ison Harrison in Leeds on a friend's recommendation, and can happily recommend. Very professional and timely, in marked contrast to another solicitor we used on a previous sale that fell through- they took ages to respond to queries. This was compounded by the fact that the vendor's solicitor also appeared to be very slow (although don't know how much of this was our solicitor passing the buck!). With more timely legal work, the first sale almost certainly wouldn't have fallen through, but we got a nicer house anyway! Not sure you can do much about the vendor's solicitor though...

At the end of the day, it's personal choice, but I would happily spend a bit more if it increased the chances of the sale happening, it's enough of a pain in the arse as it is!

Good luck!

Nigel

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#8 Re: House Buying Beta
January 29, 2013, 05:06:20 pm
When I bought a house a few years ago I just went online, googles cheap solicitors, picked the cheapest one and went with them. Had no problems at all, although I accept this may be a rarity! However they were based in Leeds. Can't remember the name but I'll try and find out...

Will Hunt

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#9 Re: House Buying Beta
January 29, 2013, 05:19:19 pm
Thanks for the info so far all. From what's been said I imagine we'll look locally. Any names that you can recommend are most welcome and if there's anymore advice out there then let us have it.

Andy, I have no intention of fitting the contents of our house into the "spacious ride". A van rental will be needed I think!

slackline

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#10 Re: House Buying Beta
January 29, 2013, 05:27:42 pm
When I bought a house a few years ago I just went online, googles cheap solicitors, picked the cheapest one and went with them. Had no problems at all, although I accept this may be a rarity! However they were based in Leeds. Can't remember the name but I'll try and find out...

You could try search your search history from that time period

Falling Down

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#11 Re: House Buying Beta
January 29, 2013, 05:44:55 pm
Will buying a house.  Next it'll be Andi E having kids.... (Where's that old man with a cane again?)

mrjonathanr

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#12 Re: House Buying Beta
January 29, 2013, 06:41:30 pm
Be aware that once you have gone with a particular solicitor you cannot hire another to do the work if you are dissatisfied. In simple conveyancing that's no issue, but if problems do develop for any reason you want someone switched on who will fight your corner.

andyd

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#13 Re: House Buying Beta
January 29, 2013, 07:38:34 pm
So, to summarise...house moving beta...
Reach out to the close, but not closest solicitor. You'll know which one because it feels right. Remember that this is an irreversible move. Now you've committed to a dynamic move for the new house. Your solicitor will check that the top is not likely to be flooded, at a price. As you top out make little urges back and forth to try and get comfortable (if you can do a big move in one go, it will be quicker and easier but might be difficult for an under 25). Knee pads will help. Don't fluff the top move or it's a long way back up.

andy_e

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#14 Re: House Buying Beta
January 30, 2013, 09:21:11 am
Andi E having kids...

 :lol: Got at least three years before that...

Grubes

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#15 Re: House Buying Beta
January 30, 2013, 09:28:15 am
When I bought mine two years ago I used Diane Walker at Armitage sykes based on halifax road hudds. They came recommended off of a few people I worked with and my estate agent.
They were really good and fast too.
However might be a bit of a trek from far side of Bradford.

andyd

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#16 Re: House Buying Beta
January 30, 2013, 12:28:00 pm
Andi E having kids...

 :lol: Got at least three years before that...
And i thought elephants had the longest gestation period. Is there a spread sheet of projected outcomes or are these just goals?

tomtom

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#17 Re: House Buying Beta
January 30, 2013, 02:07:01 pm
Andi E having kids...

 :lol: Got at least three years before that...
And i thought elephants had the longest gestation period. Is there a spread sheet of projected outcomes or are these just goals?

How far do they have to swim Andy_E? ;)

andy_e

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#18 Re: House Buying Beta
January 30, 2013, 02:08:02 pm
Only a tiny distance but they're all lazy.

ali k

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#19 Re: House Buying Beta
December 03, 2020, 12:20:04 pm
Had an offer on a house accepted this week. Still debating whether to go ahead with it or not but probably need to start looking at mortgages, solicitors and surveys.

1) What's the thinking these days about going through a mortgage broker vs comparison websites and going direct to the bank? Do brokers save a lot of hassle and secure better deals? Would probably be looking at the smallest possible mortage that allows us to make use of Help to Buy ISA / LISA and then borrow the rest from family if that makes any difference.

2) Any recommendations of solicitors or surveyors in the Shipley/Saltaire area?

Also, I know prices have gone silly recently but we think we might have offered a bit too much. They accepted asking price but another very similar house in the same street went for 20k less just a month ago (we only found this out after putting the offer in). When would be a good time to start trying to get the price down? The vendors are probably in more of a rush to move than we would be as the stamp duty holiday is irrelevant for us.

remus

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#20 Re: House Buying Beta
December 03, 2020, 12:28:22 pm
1) What's the thinking these days about going through a mortgage broker vs comparison websites and going direct to the bank? Do brokers save a lot of hassle and secure better deals? Would probably be looking at the smallest possible mortage that allows us to make use of Help to Buy ISA / LISA and then borrow the rest from family if that makes any difference.

We went through a mortgage broker and they were ace, really helpful in laying out different options and then did a load of the initial leg work in applying for the mortgage, talking to solicitors + estate agents etc. I imagine it depends a lot on the particular broker though (I can put you in touch with the lady we used if you'd like.)

ali k

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#21 Re: House Buying Beta
December 03, 2020, 12:36:50 pm
We went through a mortgage broker and they were ace (I can put you in touch with the lady we used if you'd like.)
Yeh that would be great Remus!

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#22 Re: House Buying Beta
December 03, 2020, 12:59:15 pm
Quote
1) What's the thinking these days about going through a mortgage broker vs comparison websites and going direct to the bank? Do brokers save a lot of hassle and secure better deals? Would probably be looking at the smallest possible mortage that allows us to make use of Help to Buy ISA / LISA and then borrow the rest from family if that makes any difference.

This can vary massively depending on brokers, your knowledge of mortgage workings, and also how much you value someone doing admin leg work for you. Personally I prefer dealing direct with the bank for residential stuff, equally I know people who swear by the ease of dealing with a broker. If you can get a good recommendation (like above), then that's a good start.

Quote
2) Any recommendations of solicitors or surveyors in the Shipley/Saltaire area?

In my experience it is total pot luck with solicitors and also depends massively on the vendor's choice which is out of your hands. Even returning to the same one doesn't guarantee the same service as before. It is a general rule that most people buying houses come out hating solicitors. I tend to just go for the cheapest I can find using an internet search and it's always been fine, usually a big generic firm. Personally I see little to no advantage in going local (maybe if things go really tits up physically being able to go the office might help?), and you usually have to pay a few hundred quid more for the privilege.

Quote
When would be a good time to start trying to get the price down?

Errrm, before you put the offer in?! The only time after that I have re-negotiated on price is after survey findings etc. Legally you can do it any point though, and I know plenty of people who have had buyers just turn round and drop the offer by Xk. You probably don't need telling how that usually goes down with the vendor and as you mention, the outcome will come down to how much they need to sell and other levels of interest.

Sorry, not sure how helpful any of that has actually been.

abarro81

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#23 Re: House Buying Beta
December 03, 2020, 01:07:00 pm
I've had zero experience of brokers, and only ever bought one house, but going direct to the bank was easy. It may have helped that the best deal for our LTV was the same bank that we both already had current accounts with. I was under the impression that brokers were mostly useful if you had "niche" circumstances that meant you'd be ruled out of products from some lenders?

Paul B

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#24 Re: House Buying Beta
December 03, 2020, 01:18:16 pm
We used Peter Mulderrig from K&M Financial Advisors Ltd. based on a recommendation from another climber (Rog), who works as a FA (pensions).

Peter was by far the easiest and best bit of my whole house buying experience.

I'm not sure what your hope is for the stamp duty holiday but I've seen plenty of articles warning people of missing out due to backlogs in searches etc.

I went with a recommendation from a colleague for a local solicitors who happened to employ a friend; this didn't work out well for me (the purchase was complex). Personally, I'd look for a decent online system as it's better organised than a thousand emails re:re:re etc. Previously I used Super Ted's employer of the day but he left not long after (apologies I can't remember their name).

Errrm, before you put the offer in?! The only time after that I have re-negotiated on price is after survey findings etc. Legally you can do it any point though, and I know plenty of people who have had buyers just turn round and drop the offer by Xk. You probably don't need telling how that usually goes down with the vendor and as you mention, the outcome will come down to how much they need to sell and other levels of interest.

Indeed but it's a completely shit move and what makes house buying an excruciating experience. It always feels like someone is playing fast and loose with your cash and it's hard to make large financial decisions that are perhaps stretching yourself/or short term cash flow when people lower (or in our case, raise) the value after an offer is accepted.

I've had zero experience of brokers, and only ever bought one house, but going direct to the bank was easy. It may have helped that the best deal for our LTV was the same bank that we both already had current accounts with. I was under the impression that brokers were mostly useful if you had "niche" circumstances that meant you'd be ruled out of products from some lenders?

I've used them twice now for house buying and I've never been able to get similar rates myself direct.

 

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