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Mortgages and Solicitors (1)

Mortgages

At the best of times, the mortgage market can be a bewildering place. With a number of significant changes since the banking crisis of 2007, mortgage applications have more drawn out and complicated. The affordable housing sector brings with it an additional element of complexity and not only is independent advice crucial but also specialist knowledge. Choosing the wrong lender can be time-consuming and costly, equally choosing a legal adviser with familiarity and knowledge of the sector is equally important.

Lenders have very different attitudes to the types of scheme they will consider and the terms they are prepared to offer. Some will lend on shared ownership and some won’t. Some will lend at 95% loan to value whilst others will restrict to lending to 75% loan to value. Additionally, some lenders recognise the services offered through specialist advisers by making exclusive mortgage products available on preferential terms. Similar products are not generally available on the high street.

With this in mind, we have drawn together a panel of mortgage advisers with specialist knowledge of shared ownership. The services is available to potential buyers and include:

  • carrying out an initial free financial assessment to establish general affordability and to provide an indication of both set up and ongoing monthly costs
  • assisting with identifying a suitable lender and submitting the mortgage application on your behalf
  • providing a full progress chasing service liaising closely with the housing association or housing provider, mortgage lender and the solicitor handling the legal aspects of the transaction
  • following the mortgage closely through to completion (moving-in), providing updates as required and being on hand to trouble shoot any problems that may occur
  • providing an after-care service throughout the life time of the mortgage to deal with any future mortgage-related requirements

To start the process and to obtain a free financial assessment simply complete the contact details below, press send and we will arrange for one of the advisers to contact you.

Legal Advice

A home is, for most people, the biggest purchase they make in their lives. So it is vitally important to find a solicitor who you can trust, who provides a good level of service, and charges fees you can afford. tsop has a panel of specialist Shared Ownership conveyancing solicitors.

The process of buying and selling houses is known as conveyancing and can be carried out by solicitors or licensed conveyancers (many firms employ both). The main things that your solicitor (as the buyer) does are:

  • Check that the property for sale is actually owned by the vendor and registered at the Land Registry
  • Check that the property is not adversely affected by planning proposals (such as being in the path of a proposed motorway, for example)
  • Make various searches to find more information affecting the property (local searches, environmental searches, coal mining searches, etc.)
  • Liaise with your mortgage lender to draw down monies to complete your purchase
  • Read the lease (if it is a flat) and explain your rights and responsibilities
  • Liaise with the seller’s solicitor and other bodies
  • Advise you about Stamp Duty Land Tax (which is a major expense and your options when buying shared ownership)

When appointing solicitors to provide conveyancing services you need to keep in mind what is most important for you be that the price, level of service or locality. Fusion partner firms will provide all of the required services when undertaking a conveyance/conveyances. We have carefully selected these providers to ensure you have access to the best value for money and familiar with share ownership.

Please fill out an enquiry with your requirements and one of our partners will be in touch.

Mortgage and Legal enquiry
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