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Published: 22 June 2024

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Are you planning on selling your house or flat in the UK? Once you’ve accepted an offer and instructed your conveyancer, it’s important for the process to run as smoothly as possible to ensure completion of the deal. With that in mind, leading conveyancing firm AVRillo explains which documents will be essential to ensuring your sale goes to plan… 

1. Proof of ID, address and funds

You must pass Anti-Money Laundering (AML) regulations for the government to allow your estate agent to advertise your property and your lawyer to work on your transaction. 

Find a conveyancing lawyer who’ll carry out a single source AML check to avoid having to pass AML twice, once for your estate agent and then later for your lawyer. Find a lawyer who’ll work with your agent so the AML your lawyer carries out for you will be shared on your behalf with your estate agent – this is a single source AML check and will save you time and money by not having to pass twice. 

To combat money laundering , passing AML is a legal government requirement for sellers and buyers under the government’s Anti-Money Laundering Regulations and The Proceeds of Crime Act 2002. To pass you must produce proof of your identity and address to your estate agents and legal representatives.

Acceptable forms of proof of identity include a valid passport or driving licence. Proof of address can also be demonstrated through a driving licence, bank statement, or utility bill issued within the last three months. 

If you’re a buyer, or a seller who’s also buying, you need to provide bank statements and other paperwork showing evidence of how you’ve accumulated your money known as ‘source of wealth’ and evidence showing where that money is kept and being transferred from which is known as ‘source of funds’. 

2. HMLR Land Registry title deeds

To sell your house, you must provide evidence of your ownership. This document could be a property register or title deeds which demonstrate you’re the legal owner of the property. The Land Registry is responsible for maintaining property ownership records in the UK and you can obtain an official copy of the register from the Land Registry website or request a physical copy through the mail.

As well as being legal documents that prove your ownership rights to a property, title deeds contain detailed information about the property’s boundaries, ownership history, and any rights or restrictions associated with the property and they need to be provided to the buyer of your property or their solicitor to facilitate the transfer of ownership.

If you’ve lost the title deeds, you can apply for a replacement from the Land Registry. Your lawyer will guide you through the process but some deeds will be harder to obtain than others.

3. Energy Performance Certificate (EPC)

An Energy Performance Certificate (EPC) is a mandatory document required for most residential properties in the UK. It provides an energy efficiency rating and recommendations for improving energy efficiency. An EPC is valid for 10 years and must be provided to potential buyers. To obtain an EPC, you should hire a qualified Domestic Energy Assessor to assess your property and issue the certificate.

You can’t sell your residential property without an EPC as it’s a legal requirement to have one, however there are certain exemptions from obtaining an EPC, such as listed buildings, temporary structures, and places of worship, but it’s recommended to consult a qualified professional to determine if your property qualifies for an exemption. 

4. Gas safety certificate

If your property has gas appliances, such as boilers, fires, or cookers, you must provide a gas safety certificate to potential buyers. This certificate verifies that all gas installations and appliances in your property have been inspected and deemed safe by a gas safe registered engineer. The certificate is valid for 12 months and must be renewed annually. Buyers will want assurance that the gas installations in the property meet the necessary safety standards, making the gas safety certificate a crucial document in the selling process.

The time it takes to obtain a gas safety certificate depends on the complexity of the gas installations in your property. It’s best to contact a gas safe registered engineer in advance to schedule an inspection. 

5. Electrical safety certificate

Ensuring the safety of electrical installations is incredibly important when selling a house. An Electrical Safety Certificate, also known as an Electrical Installation Condition Report (EICR), verifies the safety and compliance of the electrical systems in your property. A qualified electrician issues this certificate after thoroughly inspecting the electrical installations. The Electrical Safety Certificate should be provided to potential buyers, assuring them that the electrical systems in the property are safe and meet the required standards.

6. Planning permissions

If you’ve made alterations or extensions to your property, you must ensure the necessary planning permissions were obtained. Planning permissions are official approvals granted by the local planning authority for specific building works. Buyers will want assurance that any changes made to the property comply with local regulations and have the appropriate permissions in place. Failure to provide the required planning permissions can raise concerns and potentially delay the sale process. It’s essential to consult your local planning authority and obtain the relevant documentation for any modifications made to your property.

If you’ve made alterations without obtaining the necessary planning permission, you may face consequences such as fines or being required to revert the changes. It’s essential to consult your local planning authority to rectify the situation and potentially obtain retrospective planning permission if needed.

7. Building regulation certificates

In addition to planning permissions, building regulation certificates are vital documents that confirm compliance with building regulations for significant alterations or extensions. These certificates are issued by the local authority or an approved inspector after the completion of the building works. Building regulation certificates provide evidence that the construction work meets the required safety, accessibility, and energy efficiency standards. It’s crucial to retain these certificates and provide them to potential buyers as proof of compliance.

8. Guarantees and warranties

It’s essential to provide relevant guarantees and warranties to potential buyers if you’ve made significant renovations or improvements to your property. These documents demonstrate that the work was done by qualified professionals and offer assurances regarding the quality and longevity of the improvements. Examples of guarantees and warranties include that for roofing, damp proofing, double glazing, and central heating systems. These documents provide peace of mind to buyers and enhance the overall value of your property.

9. FENSA

As a homeowner, you must obtain a FENSA certificate from a registered installer when they replace windows or doors on your property. The certificate serves as proof that the installation complies with the building regulations and is in accordance with the energy efficiency, performance standards, and safety regulations.

10. Leasehold documents if you’re selling a leasehold (flat)

The key leasehold documents you should gather and understand to facilitate a faster and more successful sale include:

Lease extension documentation: duration and mortgage considerations:

It’s important to note that many mortgages don’t cover leases with less than 80 years remaining. If your lease falls into this category, it can potentially hinder the sale of your property. If you’ve lived in the property for a minimum of two years, you may consider extending the lease or initiating the extension process.

Lease details and marketing material:

Make sure to locate your lease document. Your estate agent should provide comprehensive information about the property’s tenure in their marketing material including the remaining lease, the term, current ground rent, service charges, and planned increases. 

Obtaining the leasehold information pack:

Your conveyancer will contact the freeholder and/or managing agent to obtain the leasehold information pack. It’s crucial not to delay this process as acquiring the pack can take some time. Ensure you buy a management pack from your freeholder managing company as soon as possible. They’ll send you these documents to give to your conveyancer for them to digest, deal with on your behalf and send to the buyer’s conveyancer who needs these to proceed.

Potential buyer concerns:

Prospective buyers will want to understand key lease terms including service charges, ground rent, and administration fees. With this in mind, it’s essential to provide your conveyancer with documents related to the following:

• Service charges, such as copies of accounts
• Share certificates
• Memorandum and articles of association 
• Buildings insurance
• Recent correspondence from the freeholder or managing agent
• Planned works and assessments scheduled for the property such as roof replacements  
• Fire risk assessments
• Asbestos reports
• Estate rent charges 
• Building Safety Act issues including cladding and other safety legislation 

11. New build warranties 

For new builds or properties under 10 years old, you must have a copy of your Buildmark (NHBC) or other new home policy/warranty documents. These documents provide essential protection and peace of mind to homeowners, ensuring that any potential issues or defects with the property are addressed and covered by the warranty.

Buildmark is a widely recognised and trusted warranty provided by the National House Building Council (NHBC) in the UK. It offers protection against various structural defects that may arise within the first 10 years of owning a new build property. This includes defects in the foundation, roof, walls, windows, and other crucial structural elements. A Buildmark warranty or an equivalent new home policy/warranty document is highly beneficial and provides homeowners with financial protection and support in case of unexpected repairs or remedial work needed due to structural defects. In addition to structural defects, new home warranties often cover other aspects such as plumbing, electrical systems, heating, ventilation, and air conditioning (HVAC) systems. It’s essential to carefully review the specific terms and coverage your warranty document provides as warranties typically have specific guidelines and procedures for making claims and obtaining necessary repairs.

Your Buildmark or other new home policy/warranty documents show potential buyers that your property is protected and that any unforeseen issues will be addressed which can enhance the marketability of your property.

12. Mortgage statement

If you have an outstanding mortgage on your property, you must obtain a mortgage statement from your mortgage provider. This document outlines the outstanding balance, payment schedule, and any other relevant mortgage details. It’s a requirement from the buyer’s conveyancers to ensure they can pay off the mortgage and leave the property legal charge free. No financial obligations are impending on the seller’s title at completion. It’s therefore essential to inform your mortgage provider about your intention to sell and obtain an updated statement reflecting the current status of your mortgage.

13. Other upfront material information

Government guidance defines material facts as things which may have a major impact on whether a buyer decides to purchase your home. For example, if it regularly floods or is of non-standard construction. Estate agents are legally required to share this information with potential buyers.

You’ll also be asked for any non-optional financial commitments such as council tax, leasehold charges and rent charge costs if your property is on a new build estate.

Government guidance for selling a house also suggests you should provide any Part Wall Agreements which are needed when carrying out any building work near or on a party wall shared with a neighbour which can impact the structure and boundary wall with your neighbour. Restrictive covenants are binding conditions written into a property’s deeds or contract by a seller to determine what a homeowner can or can’t do with their house or land under particular circumstances.

While you want to present your home in the best possible light, you shouldn’t mislead potential buyers by covering up defects, for example, by painting over damp patches. Any problems are likely to come up in the buyer’s survey. This could lead to price negotiations and possible delays which could’ve been avoided.  

The more material information and documentation you can provide up-front to your solicitor, the better. You can then get their advice on what needs to be passed on to the buyer. This will reduce the risk of avoidable delays, costs and buyers pulling out when information materialises later. 

Content provided by OnTheMarket.com is for information purposes only. Independent and professional advice should be taken before buying, selling, letting or renting property, or buying financial products.

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Published: 16 April 2024

Hits: 1112

Did you know that Spring tends to be the best time to sell a property? It’s true – the Spring months of March to May are arguably the best and most consistent months for property sales year in, year out. Whether you’re an investor or homeowner looking to sell your property, here are the top five reasons why SPRING is the best time of year to get your property on the market and ready to sell.

1. High level of demand and need for supply

The warmer Spring months with lighter, brighter days tend to be more appealing for property hunting than the heat of the Summer or the freezing cold of the Winter. With an increase in demand for properties, it makes sense for sellers to take advantage of the selling opportunities and put a property on the market.

2. It’s the season of new beginnings

Spring is typically a season associated with new beginnings – you’ll see new buds appearing on trees, new flowers emerging from ground and new life in nature – and this feeling of newness seems to flow through to the property market too. It’s a time when people begin to think about new possibilities and make plans for the rest of the year, such as buying a new property and moving house.

3. Spring weather boosts kerb appeal

The lighter, brighter days of spring can significantly help to boost the kerb appeal of properties. The days tend not to be as dark and dreary as they can be during the heart of winter (bar the occasional weather decline!) and better natural light helps improve the exterior view of properties. For example, it can bring out the natural colour of stone or bricks or make architectural features look better.

Even if you don’t have a property with a garden, there’s likely to be trees coming into bloom or flowers blossoming in your neighbourhood, which can reflect positively on your property too. If you have an apartment with a balcony, a few pots of pretty Spring flowers could brighten up the outdoor space and add an inviting appeal.

4.Spring light aids interior photography

In the same way that improved natural light aids exterior kerb appeal, so too will it help aid the interior photography of your property. Good photos are a key element of successfully selling your property and it definitely makes a difference when there’s better natural light in which to take them. They’ll be less time-consuming editing involved to get them up to scratch and, in theory, it could be quicker for your agent to get your property listed.

5. It’s better weather for moving

On a practical note, for those that are thinking of moving, Spring is a more appealing time to do so. The weather tends to be better than during the Winter and you’re not yet thwarted by the energy-zapping heat that Summer can bring. Plus, for families with children, it’s likely to be an easier time of year to move, whilst they’re still at school and so they can be settled in a new home before a new school year starts in September.

If you need any help, or advice on your purchase and of course mortgages we here at Acres can help, Click here to use our multiple mortgage and stamp duty calculators

If you’re thinking of selling your property to take advantage of the Spring boost in sales, don’t forget to get your property looking its best first. A good spring clean can freshen up your interior and a quick lick of fresh paint on your front door can make the world of difference and improve the look and feel of your property – those first impressions really count! Contact us today to get your property on the market now

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Published: 05 April 2024

Hits: 1366

The Benefits of Using a Mortgage Broker/Advisor.

Are you considering buying a home or remortgaging and need to secure a mortgage?

One crucial decision you'll face is whether to use a mortgage broker. While some may opt for going directly to a bank or lender, there are significant advantages to working with a mortgage broker.

Here are some key benefits:

* Access to a Wide Range of Lenders*

Mortgage brokers have access to a wide range of lenders. This means they can help you compare offerings from various lenders, including banks and specialist lenders.

*Tailored Solutions*

Every individual's financial situation is unique. A broker can tailor mortgage solutions to your specific needs and circumstances. Whether you're a first-time buyer, self-employed, or have a complex financial situation, a broker can find a mortgage product that suits you.

*Saves Time and Effort*

Searching for the right mortgage can be time-consuming and overwhelming, especially if you're unfamiliar with the mortgage market. A broker can streamline the process by doing the legwork for you, saving you time and effort.

*Expert Advice and Guidance*

Mortgage brokers are experts in their field. They can offer valuable advice and guidance throughout the mortgage application process, helping you understand the terms and conditions of different mortgage products and guiding you through the paperwork.

*Potential Cost Savings*

By accessing a wide range of mortgage products, brokers can often find deals with lower interest rates and better terms than those available through individual lenders. This can result in significant cost savings over the life of your mortgage.

In conclusion, using a mortgage broker can provide you with a range of benefits, including access to a wide variety of lenders and products, tailored solutions, time and effort savings, expert advice, and potential cost savings. So, when you're ready to buy a home, consider enlisting the help of a mortgage broker to guide you through the process and help you secure the best possible mortgage deal.

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Published: 26 March 2024

Hits: 1216

As a homebuyer, you want to make sure that the property you purchase checks all the right boxes for you.

From location to work undertaken, or perhaps to be carried out there are plenty of factors to consider. However, when it comes to the features that potential buyers are looking for in a property, some things stand out more than others. Here are the top 10 things that homebuyers are looking for in a property in 2023, based on recent trends and studies.

1. Garages with extra storage space

Storage space is always at a premium, so it's no surprise that potential buyers are looking for garages that offer extra storage space. This is especially true for families with children, who need a place to store sports equipment, bicycles, and other outdoor gear.

2. Open floor plan

Gone are the days of smaller living rooms and closed-off spaces. Today's homebuyers are looking for open floor plans that allow for better flow, family living and flow between rooms. An open floor plan makes it easier to entertain guests, keep an eye on children, and enjoy the natural light that flows throughout the space.

3. Home offices

With more people working remotely, having a dedicated home office is more important than ever. Buyers are looking for properties that offer a separate space for a home office, whether it's a spare room, a converted attic or basement, or a small nook in a larger room. A dedicated home office can make it easier to focus on work and be more productive.

4. Walk-in pantry

A walk-in pantry is a dream come true for home cooks and foodies alike. It's a place to store dry goods, canned goods, and other essentials, keeping them organised and easily accessible. A walk-in pantry can also help save space in the kitchen, allowing for more counter and cabinet space for other kitchen essentials. 

5. Modern kitchens

We firmly believe that the kitchen is the heart of the home, and homebuyers are looking for modern kitchens with all the latest amenities. This includes high-end appliances, plenty of counter space, and storage for pots, pans, and other kitchen tools. A modern kitchen can make meal prep and cooking easier and more enjoyable!

6. Outdoor patios

Outdoor living spaces are more important than ever, and now we’re entering into warmer weather, homebuyers are looking for properties that offer a private outdoor patio. This is a place to relax, entertain guests, and enjoy the fresh air and sunshine. It can also add value to a property, making it more attractive to potential buyers in the future.

7. Energy efficiency

Homebuyers are increasingly concerned with energy efficiency and sustainability. They're looking for properties that offer energy-efficient appliances, windows, and insulation, as well as other sustainable features like solar panels. These features can not only help reduce energy bills but also help reduce a property's carbon footprint.

8. Island Kitchens

Island kitchens are a popular trend, especially in modern homes. They provide extra counter space for meal prep and cooking, as well as a place to sit and enjoy a quick meal or a cheeky midnight snack. An island kitchen can also serve as a focal point for the room, adding style and sophistication to the space. Island kitchens also offer additional storage space, with cabinets and drawers built into the island. This is especially useful in open-concept homes where storage can be limited.

In addition to their functional benefits, island kitchens also have aesthetic appeal. They can be designed in a variety of styles, from modern to traditional, to complement the overall design of the home. Some homeowners choose to add a statement light fixture above the island to add an extra touch of style

9. Walk-in wardrobes

Having a spacious and well-organised wardrobe is essential, and homebuyers are looking for properties that offer walk-in wardrobes. A walk-in wardrobe provides plenty of space for clothing, shoes, and accessories, as well as a place to get dressed and ready for the day ahead.

10. Hardwood flooring

Finally, homebuyers are looking for properties with hardwood flooring. They are durable, easy to clean, and add warmth and character to a home and are also versatile, and able to match a variety of different interior design styles.

From storage space to energy efficiency to modern kitchens, these features can make a property more attractive and valuable to potential buyers. If you're thinking about buying or selling a property, keep these features in mind to help make the most informed decision possible!

Here at Acres, we understand the importance of finding the right property that meets your needs and wants. Our experienced team will help guide you through the buying or selling process and answer any questions you may have.

Contact us today to learn more about how we can help you find your dream home.   https://www.acres.co.uk/contact-us