Author: Thomas Williams
Posted in 16th August 2022 by Thomas Williams
Except as stated below, no application fees or any other fees are payable by tenants and guarantors in respect of any tenancy. Therefore, there are no check-in fees, check-out (or ‘exit’) fees, administration fees, inventory fees, or guarantor fees payable by tenants or guarantors. In addition, no charges are payable by tenants to change a joint tenancy agreement to reflect a change of sharer should one tenant leave and be replaced by another.
However, fees may be charged for:
…
Posted in 16th August 2022 by Thomas Williams
We do not charge tenants, guarantors or prospective tenants or guarantors for credit checks. However, at the discretion of either the landlord or us as agent, an applicant or a guarantor may be required to obtain his or her own credit report at his or her own cost.…
Posted in 16th August 2022 by Thomas Williams
On receipt of an offer of a tenancy, the applicant will be required to complete and sign the tenancy agreement within 14 days and to pay a holding deposit (one week’s rent). This will go in its entirety towards the first month’s rent.…
Posted in 16th August 2022 by Thomas Williams
There is a right to retention to the holding deposit for failing to enter a tenancy agreement in that should a tenant choose not to enter a tenancy agreement, or fail to take reasonable steps to enter a tenancy agreement, a landlord or agent may be able to retain the holding deposit. This right to retention becomes live 48 hours after having paid the holding deposit.
Reasonable steps would include providing the information a landlord or agent would require to …
Posted in 16th August 2022 by Thomas Williams
If a guarantor is required, the guarantor must sign and complete a declaration within the same time period.
The first month’s rent and the deposit must be paid at the same time as the tenancy agreement
is signed. Keys will not be released until:
- all funds, including the deposit, having cleared; or
- the start date of the tenancy.
Rental payment is still due for any part of the tenancy when the keys are withheld due to late clearing of the …
Posted in 16th August 2022 by Thomas Williams
The first step is to find a solicitor or conveyancer. You need to instruct a solicitor who you have confidence in and who can explain the procedures to you to ensure that you fully understand what is involved.
When you have chosen your solicitor and have had your first meeting, your solicitor will discuss the main steps of the process. …
Posted in 16th August 2022 by Thomas Williams
If you need a mortgage to fund the purchase of your property, it is important that you know how much you are able to borrow. It is always helpful to see a mortgage adviser before you start looking for properties so that you know your budget. Once you know how much you can borrow, you will need to inform your solicitor so they can review the mortgage offer. In order to have a formal mortgage offer made to you, and …
Posted in 16th August 2022 by Thomas Williams
Once you and your solicitor are satisfied with everything, you can start negotiating a completion date. The date of completion will need to be agreed and deposit monies received by the purchaser’s
solicitor before exchanging contracts. Your solicitor will also need to carry out a bankruptcy search on each purchaser. This search will also need to be carried out on any family members or friends from whom a loan or gift is given to the purchaser. There will be a …
Posted in 16th August 2022 by Thomas Williams
Once contracts have been exchanged, and a legally binding completion date has been set, the purchaser’s solicitor will request funds from a mortgage lender in readiness for completion. The seller’s solicitor will request a final redemption figure from their mortgage provider, and if there is a charge registered against the property. If the property is leasehold, the seller’s solicitor will allocate the service charges and ground rent, and then send a completion statement to the purchaser’s solicitor.
In addition to …
Posted in 16th August 2022 by Thomas Williams
Although the purchasers will have already moved into the new property, their solicitor will still have important formalities to action. After completion has taken place, the seller’s solicitor will send to the purchaser’s solicitor the signed transfer, any original deeds, and any guarantees they may hold.
Once the purchaser’s solicitor receives the seller’s signed transfer, they will need to submit their application to HMLR to register the title in the purchaser’s name. They will also need to submit a property …
