It would be best if you kept several things in mind to speed up the conveyancing process. The first one is communication. Make sure you communicate with your solicitor and estate agent regularly. This way, your case will not get lost in the shuffle. Another important tip is to get an “Agreement in Principle” from your mortgage lender.
Communication is key
The first step in speeding up your conveyancing process is communication. Keep yourself updated on the process and ask for regular updates. It will help avoid your case falling to the bottom of the pile. Write down any updates and discussions so that they can be added to your diary. Make sure to answer queries promptly and nudge the conveyancing process with regular updates.
Communication with your conveyancer is essential throughout the conveyancing process. Make sure you check in with them every day or so. Notifying your conveyancer of any changes or delays will allow you to identify any issues before they become a problem. Communicating with your solicitor in writing is a great way to speed up the process. It will also allow you to avoid misunderstandings and problems.
Getting an “Agreement in Principle” from your mortgage lender
While an agreement does not guarantee a mortgage, it speeds up the conveyancing process and shows the estate agent that you’re serious about buying the property. The estate agent will then be able to show you homes that meet this requirement.
Getting an “Agreement in Principle” from a mortgage lender can be quicker and less expensive than you might think. Most mortgage lenders require information from you, like your ID, your last three months’ bank statements, and some basic information about you, such as your income and outgoings.
Getting an “Agreement in Principle,” or MIP, from your mortgage lender, is a quick and easy way to speed up the conveyancing process. The lender will estimate how much money you can borrow based on the information you provide, which may be an estimate. It isn’t binding, but it helps to ensure that you’ll be able to afford the mortgage.
Using email to keep in touch with your solicitor
Using email to keep in touch with your conveyancer can save you time. It helps you avoid missing details and mistakes, which can delay the process. Always copy all parties involved, as even a small error can lead to a big delay.
Setting deadlines is an effective way to put pressure on your solicitor to make your transaction faster. Ensure that your deadline is realistic and has a valid reason. For instance, if your solicitor needs to send you a mortgage offer, you can make a deadline with them that will cause them to act quickly. You can also ask your solicitor to send you weekly updates on the progress of your conveyancing process.
Keeping in touch with your estate agent
The best way to speed up your conveyancing process is to be proactive and regularly stay in touch with your estate agent.
Estate agents must be able to respond quickly to emails and phone calls. Many firms are geared towards high transaction volumes and have limited time for individual transactions. It’s also worth getting an independent recommendation for a conveyancer. If you’re buying a property from an estate agent, they will be more likely to recommend a good conveyancing firm.
It’s essential to keep in touch with your estate agent, even after the sale has been agreed upon.
Once you’ve made an offer, provide your estate agent with your solicitor’s details. It will reduce the chance of gazumping and will enable the conveyancer to contact the seller’s solicitor directly. The estate agent should also provide you with a Letter of Engagement outlining their fees and terms of business. The letter should explain how you will communicate with them throughout the process.
Using Modern Method conveyancing
If you’re in the market for a new home, you might be interested in using a modern conveyancing method service to speed up the process. While conveyancing typically takes eight to twelve weeks, you can speed it up by preparing ahead of time and avoiding common pitfalls.
First, you can avoid delays by staying in touch with your solicitor. By keeping in touch with them regularly, you can ensure that your case isn’t lost in the shuffle. Moreover, you can quickly resolve any queries or concerns by phone.
Another way to speed up the conveyancing process is to sell at an auction. This option allows you to get a better price than you’d get from estate agents. It can also take less time and can even reduce your overall cost. Modern auctions can fetch 90% or more of the market value. This type of sale can save you hundreds of pounds. However, you’ll want to consider some disadvantages before taking this route. For example, you’ll want to be sure that the property will not have any structural defects.
If you’re buying a leasehold property, you’ll also need to liaise with the landlord and management company to complete the contract. A conveyancing solicitor will need to contact these parties to update them on your ownership. You may read more about this!