Buy to Let Conveyancing Solicitors
If you are buying a property to let, you will want to make sure that it is a sound legal investment. While the conveyancing process is similar to an ordinary residential purchase, there are some additional issues that you need to consider, including tax, finance, landlord insurance, maintenance and whether the legal title to the property includes any restrictions in respect of letting.
Our buy to let conveyancing team have extensive experience in dealing with both sales and purchases of investment properties. We can go through the relevant points with you and advise you of the implications.
The expenses involved in buying an investment property can be higher, including the buy to let stamp duty surcharge and higher mortgage fees. We will ensure that you have a clear picture of the expenses involved so that you can ensure your investment will be beneficial.
As well as legal expertise and a strong understanding of the investment property market as well as the needs of landlords, we also offer outstanding service. We know how important it is to move quickly in a conveyancing transaction, and we always work proactively to ensure there are no avoidable delays. We will keep you updated with the progress throughout and make ourselves available to speak to you as needed to answer any questions you may have.
Get in touch with our buy to let conveyancing solicitors in Liverpool, Maghull, Runcorn and Warrington
You can request an instant fixed fee quote online in just 60 seconds. Once you have your quote, there is no obligation to move forwards with us – it’s just to help you make the right decision about which solicitor to choose.
How buy to let conveyancing works
Buying a buy to let property
Conveyancing for a buy to let property requires the same work as if you were buying a home to live in, with some extra considerations to be taken into account.
You can ask us to act for you in a buy to let purchase before you have found a property, and we will do the necessary preparatory work, opening a file and verifying your identification so that we are ready to go as soon as you have an offer accepted.
Once we receive the contract papers from the seller’s solicitor, we will go through all of the information provided, raise enquiries with the seller and apply for the necessary searches. We will take particular care when checking the title of the property to ensure that there are no restrictions in respect of renting the property.
If you are taking out a buy to let mortgage, your lender will send us your mortgage offer. Once we are happy with the replies to enquiries and the search results, we will ask you to sign the contract and the mortgage deed.
We will agree on a completion date with you and your seller, then exchange contracts. At this point, your agreement to purchase the property becomes legally binding, and you will pay a deposit, usually 10% of the purchase price, to the seller’s solicitor.
We will order your mortgage advance in readiness for the completion day and give you a breakdown of the amount needed from you to complete, so that you can ensure we have cleared funds in plenty of time.
On the completion day, we will send the balance of the purchase price to the seller’s solicitor, and they will authorise the estate agent to release the keys to you.
Following the sale, we will arrange for payment of Stamp Duty and register your ownership with HM Land Registry. You should note that buy to let Stamp Duty includes an extra 3% surcharge on top of what would be payable ordinarily.
We have developed our own conveyancing app, which we will use with you for case tracking, document sharing, collaboration, ID verification, legally required anti-money laundering checks, payment, completion of property forms and instant messaging.
For more information, see our conveyancing services.
Selling a buy to let property
If you would like us to deal with the sale of a buy to let property on your behalf, we will let you have the relevant property information for completion straight away. We can do this before you have a buyer lined up so that as soon as you accept an offer, we can send out the initial paperwork to their solicitor.
They will usually raise a number of enquiries, and we will go through these with you, then send your replies. We will obtain your signature on the contract, and once the buyer is ready to proceed, we can exchange contracts and set a date for completion.
If you have a mortgage over the property, we will obtain a redemption figure from the lender so that we can pay this off on the day of completion.
You can leave the keys with your estate agent once you have cleared the property, and they will hold them until we authorise release once we have received the full purchase price from the buyer’s solicitor.
How much does buy to let conveyancing cost?
We offer legal excellence, competitively priced. We know how important it is for landlords to have the best advice as well as a swift, efficient service when making a property investment.
We always ensure that our prices are transparent and that you know from the outset how much our services will be, as well as the amount payable for other expenses such as Stamp Duty, search fees and Land Registry registration fees.
If you would like to know how much is likely to be payable for a purchase, sale or re-mortgage, see our Instant Conveyancing Quote Page.
Get in touch with our buy to let conveyancing solicitors in Liverpool, Runcorn and Warrington
Our buy to let solicitors can give you in-depth advice about purchasing an investment property and will be happy to answer any questions you may have.
You can receive a fixed fee quote online in just 60 seconds, with no obligation to use our services.