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Buying a house which you can call your own is everyone’s dream. The UK Department of Veterans Affairs provides plenty of opportunities and great programs such as loans and other housing options to those who have served in the army to buy their own house.

However, getting a house loan as a veteran isn't always easy. You may have to escape your own buyer's nightmare by avoiding these blunders before you start looking for a property

Following are some of the mistakes veteran and military home buyers do while buying a house.

1- Not Using A Real Estate Agent(Va-Savvy Real Estate Agent)

If you are getting a veteran loan to buy a new house it is suggested to always involve a VA-Savvy real estate agent. The VA system is quite different from the basic system of buying a house so it is very important to hire a real estate agent who knows the VA system of buying a house. 

Buying a house VA system involves elements such as a home loan system, VA appraisal process etc. While hiring an agent the buyer should make sure that the agent is well aware of these elements because it is very important to use such an agent in the buying process.

Veteran affairs department loans have criteria & some requirements. For example, fixer-uppers and even some modern properties would not qualify) to fulfil to get a veteran housing loan. 

You'll need to select a home that fits VA home loan property standards if you're buying via the Veterans Affairs department. A veteran-friendly realtor will also be familiar with VA loan limitations, the debt-to-income ratio lenders require you to have to qualify for a house loan, and other important details.

Work with a VA-experienced real estate agent from the start to avoid the aggravation of placing an offer on a property that may not get approved or for which you may not qualify for a VA loan. Request a reference from another veteran or seek assistance from Veterans United Realty in finding the perfect real estate agent.

2- Not Communicating With Your Lender

When you initially meet with your lender, make sure to mention your military experience so you can learn about all of the benefits available to veterans.

Veterans have access to probably the most powerful home mortgage option on the market, but according to the VA, roughly 33% of house-buying veterans are unaware that they are eligible for a home mortgage benefit. 

One of the most significant advantages of a VA loan is the potential to purchase a home with no money down (yeah, we're serious). Without having to make a down payment, veterans may be able to purchase their first house years sooner than they would if they had to save for one.

Alissa Gerke, broker and owner of Select Realty Group in Columbia, MO, adds, "Veterans should ask their lender if they provide any incentives for veterans." "I've seen lenders eliminate appraisal costs, waive origination fees if the veteran has a specific credit score, and give additional lender benefits to veterans."

VA loans also offer low-interest mortgages, don't require mortgage insurance, and have more lenient credit standards. Everything will be a lot easier if your lender realises you qualify for veteran status, so speak up!

3- Forgetting About All Upcoming Expenses

VA loans have an immense amount of benefits for veteran and military home buyers. With the benefits, there are also borrower costs which the borrower has to take care of. 

Experts believe that this is the most common mistake a veteran home buyer makes when entering into the process of buying a home, they forget the closing costs and other necessary fees to buy the house. 

Even if you have little or no money down, you'll almost certainly have to pay for items like a home assessment and inspection when you buy a house. It may not seem like much in the grand scheme of things, but knowing what you'll have to pay ahead of time will help move things forward faster.

4-  Making Other Expenses Before Closing Of Deal

The buyer of the house makes big expenses before the close of the deal with the house seller. they can be excited to move into the new house and start buying those big TV and other Home appliances that they may have an eye on. Even if the lender has authorised a veteran mortgage loan, the borrower must wait until they are truly a homeowner before doing so.

A VA loan is easier to obtain than a non-VA loan, but you must still fulfil lender standards before going to the next step. 

According to experts, It's a typical error to open a line of credit or make a large purchase after a mortgage has been approved. This can typically lower a veteran's credit score and make them ineligible for the loan. 

To be safe and keep your loan on track, wait until after closing to make any further financial decisions.

5-  No Considering Buying A Home As An Investment Due To the Chances Of Relocation

Due to the chances of relocation the veteran loan borrower may think it is not a good idea to invest in the house, relocation doesn't mean that the borrowers of the veteran loan should not buy the home. Buying a house can be a good idea of smart investment. Later if you are relocated you can sell out the house at a higher price or just rent it out. 

Buying a home through a veteran home loan has many opportunities. If you are put off by the prospect of being a landlord,  A VA loan can be assumed (meaning the debt and the property can be transferred to another veteran), or the home can be sold to a non-military buyer. 

Remember, you may use your VA home loan advantages several times, allowing you to purchase both a rental property and a new house. If you are an active-duty military member, you may even refinance a VA loan. 

If you have a non-VA loan and want to raise your loan amount and tap into your home equity, or if you can receive a better interest rate with a new VA loan, you may wish to refinance.

For queries & expert advice, you may contact Deo Volente solicitors at +44 1234 350244.

A neighbourhood and a safe place are very important to determine and know about before buying a new house. Even if you think that the area where you are thinking of buying a house is good, you still need to know about the safety and security situation of the area before finalizing to buy a house.

That's why you should learn everything you can about your possible new neighbourhood's safety and crime rates: Is the area safe for children, and can you leave your car outside without fear of being burgled?

Unfortunately, getting the 411 isn't as simple as asking your real estate agent. In reality, your real estate agent will be unable to assist you in this situation.

Because of the Fair Housing Act, agents are lawfully unable to respond to your queries concerning neighbourhood safety, so you'll have to do your investigation regarding the safety of the neighbourhood before finalizing to buy a house.

The followings are some steps to take for finding out your new home is in a safe neighbourhood:

Do Your Research From Trusted Source

You have to do your research whether it is online research or any other way but it must be a trusted source. Do your google search and find out what pops up. This one may seem self-evident, but we'll emphasize this anyways, start your investigation online.

While you can and should investigate what comes up when you Google violence rates in the new area where you are willing to buy a house, there are some search results we'd be more willing to believe than other results.

Some experts and experienced persons like Ryan Fitzgerald who is a Realtor in Charlotte, NC and owner of Uphomes suggest some tools like area vives and city data for research of the safety of the new area.

Jo Ann Bauer, a Realtor in Scottsdale, AZ, has another recommendation.

"One of the web resources I offer to house buyers who want to know about neighbourhood safety or the crime is CommunityCrimeMap, which contains crime mapping with information on places and times," she explains.

You can also study public documents such as police reports, which are frequently available in local publications or online, in addition to these online searching sites.

You may always run a fast search on the National Sex Offender Public Website if you want to know about who could be residing in the area, especially if it concerns the safety and security of your family and children.

Talk To The Locals Who Are Already Residing In The Are

This is a good way to find out the safety and security situation of the new area as the locals have already experienced.

"Speaking with the neighbours is one of the best ways to judge a neighbourhood's safety," Fitzgerald adds. If required you can ask people directly, 'How's the neighbourhood?' if you see them outdoors."

You may also contact and find out from the local homeowners association or spy around on Nextdoor, Reddit, or Quora to see what's going on in your community. These websites can provide you with a glance into what the locals are talking about and alert you to anything which may be good or bad that is going on in the area.

Go Visit The Neighbourhood

This is also an option to be friendly with the neighbours and plan a visit to their houses for general discussion and also finding out how the area is, whether it is secure or not because the neighbours are those who can provide you genuine information.

Real estate agents suggest that whenever feasible, drive through a potential area on multiple days and at different hours. Take a look at your neighbours' automobiles and how they maintain their homes. Neighbourhoods, where people take pride in their homes, are typically a smart option.

On these walks, go a few blocks and attempt to take in as much as possible. Notice the things like big gates or security fences around the houses, bars on the windows, and shattered glass on the ground, It might indicate that automobile break-ins are common in the neighbourhood.

Trust Your Gut Feeling Or Inner Instinct:

This, too, appears to be self-evident, yet it must be said. Nothing can ever completely replace a gut instinct. If you visit your new area and don't feel comfortable enough to stroll about alone, then no amount of internet crime maps can help you.

Always trust your gut feeling and also imagine and fit your daily routine or activities in the new area, think about the morning walks will you feel secure in the area and also think about your family if you allow them to go alone outside for a walk or for your children to play around will they feel safe and secure. Also, think of parking your car outside on the street overnight.

"Don't relocate there if you have any reservations about the area," Fitzgerald advises. "Follow your gut impulses. The thing you don't want to do is acquire a home in which you won't be happy, especially if your family will be unhappy as well."

Get in touch with the friendly lawyers of  DV Solicitors in Bedford UK. We offer personalized legal services and treat clients like family.

For details, visit dvsolicitors.com, call 01234 350 244, or email [email protected].

The abbreviation of FSBO in the real estate world is “For sale by owner”. This means that the homeowner has not involved a real estate agent in the selling of his house.

The process involved in FSBO selling is different from the agent selling houses. The process differs for both the buyer and the seller.  Here is everything that you need to know about “FSBO”.

Reason Behind Home Owners Opting For Fsbo:

The reason behind the owners opting for FSBO is to save money as the commission of the real estate agents on the price of the house is considerably high, For example, if a house is worth $500,000 the commission total of 6% on the price of the house becomes $30,000. The commission is split between the buyer’s agent and the seller’s agent.

Home sellers may also try FSBO if they're in a hot market and believe the house will sell itself—though the procedure is rarely as straightforward as people believe. Here are five reasons FSBO home sales fail.

Fsbo Houses Are Hard To Find:

It is hard to find an FSBO house because the owner can not post their houses on multiple listing services. It is a platform where buyers and sellers meet and only authorized real estate agents can post the houses of the seller on the platform. Thousands of buyers for purchasing visit this online platform.

So the buyer has to search a bit harder for one of these houses, checking the local newspaper or real estate fliers across town where the seller has paid to post an ad are the options available for the buyers. There are alternative websites where sellers may pay to advertise their homes, but these sites do not receive the same amount of traffic as the MLS. This is just one of the numerous reasons why the vast majority of property sellers choose to hire a listing agent rather than doing it themselves.

Using A Real Estate Agent To Buy Fsbo:

If you are a buyer and you want to hire a real estate agent on your behalf to buy an FSBO house then you can hire and it is recommended to hire a real estate agent who will guide you throughout the buying process For example, an agent may determine whether a home's pricing is appropriate, assist you in putting together a compelling offer, and negotiate the inspection and other issues that may emerge on the route to the closing table.

But here's where the money issue comes into play. If you're a buyer with your real estate agent, he'll want to be compensated for his time and effort on your behalf of you. However, because the house sellers aren't utilising their agent to save money on commission, who's to guarantee they'll pay for your agent of yours? This is also the thing to consider while going for FSBO.  There are ways to handle this situation as discussed below:

1- Decide the fee with your agent:

If you have doubts or the seller baulks that the seller of the FSBO house will not pay the commission of the real estate agent hired by you then you can come up with a fixed amount with the consent of the real estate agent.

According to Jim Lee, a Realtor at Re/Max by the Bay in Portsmouth, NH, "it will be paid from the proceeds at closing and will not increase your expenditures."

2- If the FSBO house seller is willing to cover the cost:

Even if the house sellers have opted to save money by not employing an agent on their end, they are likely to recognise that utilising a buyer's agent has certain advantages for the seller also in terms of a smooth transaction to be carried on at the end of the deal and may be willing to cover the "buy" side of the commission (which is typically evenly split, so the sellers will still save half). "Many private sellers are eager to collaborate with buyers' agents to verify that the buyers are adequately eligible to buy and that the paperwork is done appropriately," says Deb Dawkins of Coldwell Banker in Annapolis, MD.

Risks Involved In Purchasing Fsbo Houses:

The most common risk is higher prices of FSBO houses as compared to the market price of houses if you do not hire a real estate agent. Real estate agents help you in determining whether the price of the house is as per market price or higher than that. Because you won't have an agent on your side to search for frequent red flags, you'll also want to have a comprehensive house inspection.

Even yet, if you buy an FSBO house, be aware that there may be hazards and that you will have to do a lot more effort yourself. This may explain why the majority of house buyers choose to engage a real estate agent to guide them through the process. Finally, if neither party is utilising a real estate agent, it may be in your best interest to hire someone to assist you with the contract specifics.

Get in touch with the friendly lawyers of  DV Solicitors in Bedford UK. We offer personalized legal services and treat clients like family.

For details, visit dvsolicitors.com, call 01234 350 244, or email [email protected].

Due diligence in investment means “Do Your Homework” before buying a house/ property. When the buyer finalizes a house for purchase the process of closure of the transaction starts which lasts for a few weeks. During these weeks the buyers are told to do the due diligence on the home to be owned soon. 

Before you buy a house, you should thoroughly study it for potential issues that could cost a lot of money to remedy after you move in, and make sure you still want to buy the house before finalizing the transaction.

Due Diligence

According to Larry Anweiler, an Arizona real estate dealer who teaches real estate at Kaplan University, "due diligence in residential real estate" implies "making sure you're getting the asset you're paying for." Consider this your final chance to check everything and also make sure you're not getting a lemon.

Steps To Take When Found Any Problem During The Process Of Due Diligence:

There is no house without any flaws even if the house is a brand new house it has flaws. It depends on the choices and priorities of the buyer and how the buyer wants the house to be. If you find faults in the home during your due diligence process, you still have time to bargain with the seller, who may agree to rectify the defects or lower the home's price.

Home inspectors frequently generate large lists of issues discovered, many of which are minor, easily repaired, or just the product of normal wear and tear on the home. The seller is not bound to repair every flaw discovered by the buyer or an inspection.

If you have any disagreement with the seller you have the right to walk away from the transaction as you always have the choice during the due diligence and you won't have to forfeit your money deposit if you've included specific conditions in your purchase agreement and retract your offer within the periods indicated in the contingency addendums.

Your state's rules may also allow you to pull out of the purchase during the due diligence period without losing your earnest money investment. Before you begin the process of buying a house, be sure you are familiar with your state's due diligence laws and regulations.

When purchasing such a significant asset, due diligence is surely a procedure worth considering to avoid any loss which may cost you a lot. The following steps the buyer must perform before the close of the deal are very important to get rid of any loss.

Hire a Home Inspector to Scrutinize the House Before the Close of the Deal:

Most buyers of a new house hire professional home inspectors to scrutinize the house before closing the deal. This is made during the due diligence process saving a huge amount that may cost the buyer to fix the faults. The inspector generally inspects the cracks in the foundation, broken HVAC systems, a leaking roof,  termites and other major issues.

A second specialist should be hired to test for biotoxins such as mould, radon, and asbestos. These dangers are frequently overlooked by house inspectors and can be costly to repair if you don't take precautions immediately.

You should also look at bigger community concerns that may have an influence, such as if your property is in a flood zone or near a natural disaster. All of these things might drive you to revisit discussions with the seller or, if you're still unhappy, to walk away.

Consider Condo or HOA Rules if You Want to Invest in a Condo or Property With a Homeowners Association:

An examination of title records is carried out as part of due diligence for a real estate transaction. The purpose of a title search is to verify that the rightful owner of a piece of real estate is identified to get rid of any kind of fraud and loss.

This process is carried out during due diligence to make sure that there is no third party involved who has pre-existing liens or other claims to the property.

Due diligence includes more than just a home inspection. You'll need to do a title search to ensure that you can "take title" to the asset which is another way of stating you can prove legal ownership of the property that's placed into the public record.

A title search is required by mortgage lenders as part of their due diligence since it protects both parties.

What if the former owner's brother who is long lost turns up and claims to be a financial investor in the property with a claim of share in the property, or if a creditor has placed a financial lien on the property owing to an overdue responsibility, or if there are boundary conflicts with a neighbour which is not resolved from a long time?

Due care in doing a title search will reveal such difficulties, allowing you to discuss them with the seller before making a purchase you will regret.

Consider Condo or HOA Rules if You Want to Invest in a Condo or Property with a Homeowners Association:

If you're thinking about buying a property in a homeowners association, you should look at the declaration of covenants, CC&Rs as well as conditions and restrictions. This is a list of laws and regulations, as well as punishments for breaking them.

Some can be fairly tight, denying you the right to choose the colour of your property or the number or kind of cars you can park in front of it because RVs are sometimes banned.

Given that you'll be living under these regulations for the foreseeable future, it's a good idea to assess them as part of your due diligence and make sure you're on track—and if it seems that you're not, you can walk away with your deposit.

If you're buying a condo, whether as an investment or a home buyer, your due diligence should involve looking into every aspect of the condo association including its financial position etc.

The condo association's financial accounts should be in good shape, with a balance sheet and a strong reserve fund for future operations. If the condo association is planning to levy special assessments shortly, you'll want to find out now rather than later.

Get in touch with the friendly lawyers of  DV Solicitors in Bedford UK. We offer personalized legal services and treat clients like family.

For details, visit dvsolicitors.com, call 01234 350 244, or email [email protected].

If you want to buy a new home or property but don’t have enough cash, a mortgage can help. But early mortgages were different from the ones we know today.

The property itself secures a mortgage or property loan. This protects the lender or mortgagee from losses if the mortgagor or borrower does not pay the loan.

Mortgages were mentioned in England as early as 1190. However, the system then was more beneficial to creditors than to the people who needed the loan. Homebuyers in the early 1900s were required to make a 50% down payment, and the balance was paid within five years.

For instance, if the property were worth £200,000, the borrower would have to cough up £100,000 to get the loan and pay the remaining amount in five years. Hence, those who got a mortgage before already had a lot of money.

The terms and conditions of the loan are stated in the mortgage deed. This legal document contains details about the parties involved, the property, the loan amount, interest rate, and other important information. It also gives the lender legal rights over a property that serves as collateral.

To make it valid, the borrower must sign the mortgage deed and at least two witnesses.  But before doing so, read the deed carefully to see if the mortgage terms are clearly stated, and you agree to them. Review the details to check if they are accurate. If you have any doubts or require clarification, don’t hesitate to ask.

Thanks to recent developments, a mortgage deed can now be signed electronically. This was first done in the UK in 2018. It requires inputting a unique code after reviewing the document. All that’s needed is an internet connection to access the deed anytime, anywhere.

Signing a deed electronically is a secure and convenient way of doing business that saves time and money and reduces paperwork. Once signed, the deed is stored electronically and can’t be lost or changed. In 2020 alone, over 1,000 mortgage deeds were electronically signed, and this trend is expected to grow in the coming years.

If you are too busy and need help reviewing your mortgage deed or need more information on electronic signatures, get in touch with the friendly lawyers of Deo Volente (DV) Solicitors in Bedford, UK. We offer personalized legal services and treat clients like family.

For details, visit dvsolicitors.com, call 01234 350 244, or email [email protected].

Planning to sell your home? Looking for an interested buyer? It would help if you had a memorandum of sale to do this. This is the first step in selling your house or property.

What Is A Memorandum Of Sale?

A memorandum of sale is a written record of all the buyer's things to know about the property before it can be purchased. After the sale is agreed, this is made by the auctioneer or home buying company to keep things moving. This is usually emailed to the solicitors representing the buyer and the seller.

The more information the memorandum of sale has, the better for both parties. Some important details the document should contain include the following:

How DV Solicitors Help You With Memorandum Of Sale?

A memorandum of sale is not legally binding. Nor does it have to be signed. It is simply a written confirmation that the buyer and seller have agreed upon a price. This document should not be confused with a memorandum of understanding used in the United Kingdom (UK).

Because of this, the buyer can back out of the sale even with a memorandum of sale. But if everything is listed correctly, the buyer can push through with it, and things will proceed as planned. As long as both parties are honest and transparent, nothing can go wrong.

If you need assistance in reviewing your memorandum of sale, contact the professional lawyers of Deo Volente (DV) Solicitors in Bedford, UK. We offer personalized legal services for your specific needs. In our office, clients are treated like family.

For more information, visit dvsolicitors.com, call 01234 350 244, or email [email protected]

Are You Seeking to Buy A New Home But Scared to Deal with the Potential Pitfalls During the Process?

Your home is your most valuable asset, and it is only right to make sure you get what you pay for.

There are many prospective hazards to be avoided when buying a home, and getting support from legal professionals to assist you through the journey not only makes a lot of sense but can save considerable amounts of money and unnecessary tension.

Realising the dream of your property ownership in the UK could be daunting. Unless conveyancing experts are engaged to negotiate you through the rollercoaster of contractual arrangements, it can most probably become a nightmare.

Understanding The Buying Process

Buying a new home is undoubtedly an exciting time in your life. But before any of that, you need to understand the complexity of the buying process.

First, you’ll start to check numerous properties to purchase and will need to gauge the budget to see how much you can afford to pay from your savings and how much you can loan, considering legal and lender fees, stamp duty, and moving costs.

The next essential move is to decide on the type of property you want to go for: buying land and building a home or getting an existing home/home unit, or buying a plan. After these initial decisions, you can already begin the next steps of buying a house.

Location is also a crucial factor. You might want a safe neighbourhood with easy access to commuter corridors, arterial roads, schools, and shopping centres, or you may prefer a more quiet area away from the bustling city- depending on your unique needs and preferences.

Next, the property itself should be worth what the seller is asking for. Its features, limitations, and price in comparison to similar properties are some factors to consider:

●     Contract of Sale

Does the seller have a contract of sale? The contract must be prepared before the seller can put their property for sale. Other legal documents, such as the contract, a cooling-off statement, and additional necessary details if the property in question is a strata property, should also be attached.

●     Expressing your interest in the property

A copy of the contract of sale of the property you wish to buy must be given to the conveyancing solicitor. Once an offer has been made, you’ll need to hand over an initial deposit (in good faith) to the real estate agent.

●     Applying for a loan

You can begin the buying procedure by getting a loan on the property. Make sure you do not exchange contracts before the loan has been approved. Your lender will value the property to determine if it serves as adequate security for the loan amount.

●      Property Inspection

Building and pest inspections are mandatory to confirm whether the structural foundation is secure. The plumbing and electrical wirings are in place, and the property is safe from insects, termites, or dangerous pests.

●     Exchanging of contracts

After your loan gets approved, your conveyancer will arrange for an exchange of contracts containing all terms and conditions of the sale.

●     Paying the deposit

You will need to pay the deposit as stated in the contract. The agent usually holds it.

●     Paying the stamp duty

Following the property’s purchase price, you will need to pay the stamp duty within three months of signing the contract.

●     Waiting period until settlement

In the period between the exchange of contracts and settlement, your conveyancer will make significant searches and enquiries and prepare documents. A settlement statement consisting of the details of the final amount owed is then forwarded to the seller.

●     Final settlement

On the day of the settlement, loan money is paid, the seller collects the deposit, your conveyancer receives a signed transfer and title of a deed, and you pay the duty on the contract. Once keys to the property are handed to you, you can immediately move into your dream property!

How We Can Help

At Deo Volente, we aim to help you limit the risks involved in purchasing a property and deal with issues that arise from a pre-purchase inspection.

Buying and selling property is often one of the most important financial decisions many people will make in their lifetime. Our Best Conveyancing Solicitors in the UK will assist you every step of the way on your journey to owning your very own property.

We believe in delivering a uniquely supportive experience for our clients, giving them expert advice and excellent customer service, resulting in a smooth and successful real estate experience.

Seeking to buy a new home but worried about the nightmares along the lengthy process?

Reach out to us today and discover how our professional services can be of assistance to you.

After a rollercoaster of checking and inspections, you finally find your dream property. It’s close to the school your kids attend, comes with a pleasant neighbourhood, and fits within your budget.   

Now here comes all the bunch of paperwork!

If you are a first-time buyer or property investor, we bet you might not have heard of ‘conveyancing’ before!

In fact, ‘unconditional, settlement, and ‘cooling-off period’ are important terms you may not be overly familiar with.

Whether you are buying or selling a property, the settlement process for conveyancing is a tedious procedure that includes several financial and administrative duties. 

To help you navigate the potential pitfalls, you should seek legal help.

It is not a legal requirement, but for a reasonable cost, you can have a Conveyancing Solicitor act on your behalf, giving you more time to give more attention to moving with your family.

Transferring property to a new owner or entity involves various paperwork, and a conveyancing transaction typically consists of three stages:

A conveyancer looks after the whole settlement process, making sure the clients are prepared for critical timelines during the procedure.

As far as one can tell, conveyancing transactions might appear very straightforward. Still, in most cases, many home buyers and sellers do not fully realise the full amount of technicality, documentation, and work that goes into legally transferring a property to a new owner.

For first-time to seasoned property investors who haven’t had much experience navigating this area of law, it could take weeks (and sometimes months) to find and lodge legal documents, let alone understand them.

Hiring a Conveyancing Solicitor in the UK

Buying a property is a daunting task. The overall transaction can involve a lot of time and money to coordinate, especially when setbacks and challenges emanate along the way. 

Conveyancing requires enough effort and time to analyse, review, and finalise all the paperwork involved in the process. It usually incorporates transactions between you and vendors, real estate agents, mortgage brokers, building inspectors, banks, and government agencies. 

For the most part, you’ll also be pressured to have a grasp of all the financial and legal documentation revolving around the process. 

That is why it will be in your best interest to get a professional conveyancing solicitor in the UK rather than attempting to do it yourself. 

At Deo Volente Solicitors, we want our clients to save valuable time.

Our team of friendly conveyancing solicitors in the UK will help you save hours of legal and paperwork. We liaise with building inspectors and real estate agents, take care of legal documents for government agencies and negotiate settlements with the seller, all on your behalf. 

We also ensure you avoid any financial loss since the process’s complexity will have higher risks of costly and unwanted complications. 

Let us give you peace of mind.

Leave everything to us while you focus on your moving. You never have to worry about legal documents or critical parts of transactions, as our friendly conveyancing solicitors will take care of the financial aspects, such as liaising with lenders and other entities in calculating settlement adjustments. 

Thinking about buying or selling a property but worried about the series of paperwork?

Get in touch with DV Solicitors to get a free assessment.

We will be with you from start to finish. 

Post lockdown: Effects on the Property Market, By Tamara Gooding

The Government announced new regulations that lifted the seven weeks freeze on property viewings and home moves. This has understandably left many people with the question – what effect post lockdown will have on the English property market?

Property website Zoopla previously estimated that about 373,000 property sales had been put on hold due to lockdown – with a total value of 82bn. As a result, there are many predictions that the UK property prices will fall dramatically but in comparison many people believe that we may infact see growth in the market. This is due to a combination of pent up demand and freely available mortgages at low rates.

Economists and housing experts are forecasting UK-wide price falls of up to 13%, which are predicted to be due to a number of factors such as; falling incomes and loss of jobs, lack of confidence and a general lack of transactions. In comparison, estate agent Savills has predicted the hit to the market to be more like 5% and a third of valuation surveyors predicting 4% or less.

However, the housing market commentator has said that it is particularly difficult to predict whether house prices will fall and by how much because the nature of the current crisis is different to previous downturns we’ve seen, being caused by global health, rather than economic circumstances.

The 2008 property crash is very much different from our current crisis and this is because the price crash was caused by tough restrictions on borrowing. This combined with higher interest rates meant that there was more negative equity and a greater number of repossessions – subsequently causing house prices to fall.

It is therefore hard to predict what exact effect post lockdown will have on the UK property market as we are in very much uncertain territory.

Whether the current market fall will be 13% or 4% due to the unprecedented times we are currently facing; the result of lockdown will more than likely have a profound effect on both our economy and the UK property market.

It should be mentioned, however, this could be good news for first time buyers and property investors as the post lockdown market is being described as a ‘buyer’s market’. Due to the uncertainty and lack of finances, sellers will be more than willing for a quick sale allowing first time buyers and investors the opportunity to take advantage of reduced sale prices.

At the moment the Bank of England base rate is the lowest it has ever been at 0.1%, so as long as lenders continue lending with low deposits at the current rates, then homeowners are more likely to be able to afford their housing costs and buyers can access money to buy.

If you have any queries regarding a property transaction please get in touch with a member of our Property Department on 01234 350244.

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