FCA consults on additional guidance for mortgage providers in COVID-19

The Financial Conduct Authority (FCA) has announced proposals to ensure that firms provide tailored support to mortgage borrowers who continue to face payment difficulties due to coronavirus. The FCA has published a guidance consultation setting out further information for mortgage providers and COVID-19 affected borrowers. The FCA's proposals aim to support mortgage borrowers who have taken up payment deferrals and who continue to face financial difficulties. The proposals will also help those whose financial situation may now be affected by COVID-19 post lockdown. The draft (in consultation until 1 September)…

How long does it take to buy a property? Everything you need to know.

Buying a new home is exciting, but you may be anxious about how long the process could take from start to finish. Understanding how long you can expect to wait before you get the keys to your new home can help you to plan both practically and financially. In this post, we set out an estimated duration for each stage of the conveyancing process. Finding your new home (8-12 weeks) Finding your ideal property is possibly the most difficult stage to allocate a time limit as this really depends on…

The importance of choosing a good conveyancing solicitor

Your solicitor will conduct a range of tasks on your behalf, whether you are buying or selling, or both. General tasks include: Drafting and reviewing sale or purchase contracts; Dealing with Land Registry; Managing the collection and transfer of funds; and Providing legal advice and recommendations. If you are buying a property your solicitor will also carry out additional tasks including: Conducting searches on the property (these can include Local Authority search, Environmental search etc.); and Managing Stamp Duty charges and payments to HMRC. Here are some tips you should…

Buying a property at auction

The main attraction of buying at auction is that you avoid the conventional drawn out process of purchasing a property. A variety of properties can be purchased at auction including residential, commercial, plots of land and freehold investment properties. When preparing for auction it is important to consider the following points: Contact the relevant auction house and request their catalogue. Most auction houses hold regular auction sales with a catalogue printed some weeks in advance. You can also subscribe to catalogue mailing lists. Most auction houses now publish online catalogues…

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