BUYERS

Here’s something refreshingly different about the way OASiS works with you to help you with buying your home through our agency.

We can also help you broaden your search when buying your home because, thanks to our membership of the Guild of Professional Estate Agents, you only need to register with one Oasis office to automatically be alerted to properties in a far broader geographical area than offered by most other estate agents.

Our instant notification service means you’ll receive emails advising you of suitable new ‘instructions’ coming onto the market before they go live on the internet. You can even be the first to view a property, even if there’s going to be a full ‘market launch day’.

And because our experienced and award-winning Oasis team is also a genuinely local team, you can expect the best recommendations for our partner professionals, such as mortgage and financial advice, surveying, conveyancing and removals when buying your home.

If you’re looking at buying a new home, the various options available to you might seem a little overwhelming. But whether you need assistance in finding your new home or taking care of your finances, we are here to help!

HELP TO BUY: EQUITY LOAN

With a Help to Buy: Equity Loan, the government lends you up to 20% of the cost of your newly built home, which means you only have to contribute a 5% deposit and secure a 75% mortgage.

The government doesn’t charge interest/loan fees on the 20% loan for the first five years that you own your home either. This gives you the chance to save more money towards paying the loan or even a deposit for another property in the future.

HELP TO BUY: SHARED OWNERSHIP

If you can’t afford the mortgage on 100% of a home, Help to Buy: Shared Ownership offers you the chance to buy a share of your home (between 25% and 75% of the home’s value) whilst you pay rent on the remaining share. Later on, when you can afford to, you can increase your equity in the property by buying more, if not all, of the remaining shares.

You could buy a home through Help to Buy: Shared Ownership in England if:

Your household earns £80,000 a year or less outside London, or £90,000 a year or less in London
You are a first-time buyer, you used to own a home but can’t afford to buy one now, or are an existing shared owner looking to move.

With Help to Buy: Shared Ownership, you can buy a newly built home or an existing one through resale programmes from housing associations. You’ll need to take out a mortgage to pay for your share of the home’s purchase price or fund this through your savings. Shared Ownership properties are always leasehold.

If you’re looking at buying a new home, the various options available to you might seem a little overwhelming. But whether you need assistance in finding your new home or taking care of your finances, we are here to help!

For further information, please complete our Help to Buy form by clicking here

MEMORANDUMS OF SALE

Once a formal offer is agreed, OASiS will write to the seller, the buyer and both sets of conveyancers to give details of the property, the price and all the parties involved.

CONFIRMATION OF INSTRUCTION

Your conveyancers will then write to you confirming their terms of business. The buyer’s conveyancers will ask the seller to complete a range of client and property information forms, including topics such as boundaries and ‘Fixtures & Fittings’.

CONTRACT OF SALE

The seller’s conveyancer will produce the draft Contract of Sale which will be sent to the buyer’s conveyancer along with the Land Registry documents or, if unregistered, the original deeds, along with the Transfer of Deed form. From this information they will raise enquiries. It is likely that the seller’s conveyancer may require further information in order to reply to some of these.

The buyer’s conveyancer will then request a number of searches to be carried out, including Local Authority Search, Water & Drainage Search, Environmental & Flooding Search and Chancel Search.

MORTGAGES

If the seller has a mortgage secured against the property, arrangements must be made for this to be repaid upon completion.

EXCHANGE OF CONTRACTS

Once exchange and completion dates have been agreed between the seller and the buyer, the contracts can be exchanged, with everyone selling within a chain also agreeing on these dates and exchanging at the same time.

COMPLETION

On the day of completion, the seller hands over the keys to the property (the easiest way to do this is to ensure that we at OASiS already have a set) making sure that all other sets of keys are left inside the property. Once the buyer’s purchase money has been received by the seller’s conveyancers, any outstanding monies will be sent to mortgage lenders and any remaining balance to the seller.

Your best option for Conveyancing…

‘Contract Ready’

Dealing with the legalities of selling or buying your home can be a confusing, complicated, time-consuming and expensive operation. Choosing the wrong solicitor to look after the whole process (known as ‘Conveyancing’) can be a costly and stressful mistake.

Thankfully, OASiS works in partnership with a dedicated team of conveyancers who know our part of the world well (vital when it comes to dealing with any typical legal peculiarities attaching to deeds in the local area). Our sellers’ service is called ‘Contract Ready’ and offers a fixed fee as well as a no sale, no legal fee guarantee. For buyers, we offer a fixed fee as well as a no purchase, no legal fee guarantee and protected searches. Both packages are designed to give you complete peace of mind and a fast and cost-effective service and we confidently recommend them to all our clients.

If, however, you decide to instruct your own solicitor to do the conveyancing on your prospective sale, you obviously won’t want work to start until an offer is formally agreed. However, it is essential that you have the details of your chosen conveyancer available as early as possible, because the sale cannot proceed without them.

Conveyancing is the legal transfer of ownership of a property from one person to another, from the seller to the buyer, and the process is usually undertaken by choosing either solicitors or a specialist conveyancer. At OASiS, we recommend choosing our own ‘Contract Ready’ conveyancing package. OASiS has also teamed up with a national firm of solicitors offering competitive rates for both selling and buying. If you would like a free quote for the conveyancing work for your

CHOOSING YOUR REPRESENTATIVE

A solicitor is a qualified lawyer in all aspects of common law and should be a member of the Law Society. A conveyancer has less general training but specialises in property law, and should be a member of the Council for Licensed Conveyancers. In general, a solicitor will cost more than a conveyance, although some larger practices will use a combination of the two to offer a more competitive fee.

Most conveyancing practices are more than capable of acting on your behalf. However, should your sale involve elements beyond property law, for instance, the issue of probate or divorce, then you will need to use a solicitor. Similarly, a solicitor will be required if a lease extension forms part of the sale or a boundary dispute exists.

There is a third option when it comes to conveyancing and that is that you do it yourself. However, the reality is that it is a complex and time-consuming process, and if you are buying with a mortgage, the lender will insist that a solicitor or conveyancer acts for them as well as you on this aspect of the transaction regardless. There is also the danger that you will be considered a less favourable buyer or a riskier seller, so caution is advised.

If you opt not to use OASiS’ own ‘Contract Ready’ service, whichever form of representative you decide on can be crucial to maximizing the success and minimizing the stress of the selling or buying process.

So how do you decide who to appoint? If you have used a solicitor or conveyancer before and you were happy with the service they provided, or one has been recommended to you, that’s great. If you don’t have one then it is worth bearing the following elements in mind.

STAYING IN TOUCH

Throughout the process, OASiS will seek to keep you informed of the progress of your purchase or sale, as well as any related sales if a chain is involved. Your solicitor or conveyancer should be equally prepared to communicate with you – be warned, they don’t all take your calls or answer your emails, and this can be hugely frustrating.

ABILITY TO COPE

At the height of the property boom in 2007, there were 1.67 million property sales* all requiring conveyancing. After the property crash, a large number of firms withdrew from this area of law or disappeared altogether as transactions dropped by almost half to 859,000* (2009). In 2013 there were 1.07 million transactions* yet the number of firms offering conveyancing services has not grown at a proportional rate.

Similarly, not all firms can cope with the workload; however, few will admit to this and rarely turn work away. The larger ‘conveyancing factories’ are just as susceptible to capacity fluctuations as the smaller high street solicitor, especially during holiday months, so it is worth asking the question before service levels become an issue. Where smaller firms are concerned it is worth enquiring as to continuity of service during holiday periods.

(*HM Revenue & Customs Annual UK Property Transactions Statistics June 2014)

LOCATION

It is no longer necessary to physically attend your solicitor’s or conveyancer’s offices. Much of the information flow can be done electronically and that has opened up a greater range of choice. You will still need to provide certified identity so this is worth bearing in mind as you could incur additional costs if you chose an out-of-area firm. Some conveyancers will accept certified identification from an agent or a financial adviser, so check with them if in doubt. Some documents will still need to be signed and returned, and we would always suggest these are sent via registered post.

NO SALE, NO FEE

This is an area worth considering and applies equally to buyers and sellers. If for any reason you have to abort a sale or purchase, you could be liable for a percentage of the solicitor’s or conveyancer’s fees depending on how much work has been carried out on your behalf. Some – like the OASiS ‘Contract Ready’ service – offer a ‘no sale, no fee’ guarantee whereby no legal fees are payable in the event of the transaction falling through. This will only apply to recoverable costs and would not include payments for searches or disbursements already carried out.

LENDER APPROVED

If you are buying with a mortgage then your lender might have strict guidelines relating to which solicitors or conveyancers they will work with. If you have a solicitor or conveyancer in mind, it’s advisable to make sure that they’re on the ‘approved panel’ for your mortgage provider.

HIDDEN COSTS

Whether you choose to use a solicitor or a conveyancer, make sure you know the extent of your costs upfront. Most firms these days will charge a set fee for carrying out the basic conveyancing process, with the exceptions to this being lease extensions and boundary disputes etc. Avoid those firms who proffer an hourly rate as this can quickly become expensive if issues arise.

TWO-WAY PROCESS

As a final point, your solicitor or conveyancer is only as good as the information you provide and this is especially true where sellers are concerned. This similarly applies to the speed at which you return paperwork and answer any enquiries; the more you co-operate, the greater your contribution to the overall efficiency of the transaction.

New homes are usually built in the up and coming areas, where new communities are being created and it’s great to be a part of that, especially if you’re new to Staines-upon-Thames.

Or it can just be a fresh start – a home that is immaculate, bright, clean, spacious and untouched by previous owners and their dodgy decorating and DIY! It’s a blank canvas you can stamp your own style and personality on from day one.

THE PRICE IS RIGHT

Most new homes are priced to sell quickly and often come with great incentives such as cash back, free appliances and help with moving costs get thrown in as part of the deal – as if you were getting a great value house for your money anyway.

GREENER & CHEAPER

If environmental concerns are part of your moving criteria then a new home will fit the bill – and that bill will be considerably less than you might be used to, as these homes are built to the latest environmental standards. They are much more energy-efficient and generate 60% less carbon dioxide emissions than older homes. This can reduce utility bills by more than £500 a year. Better for the planet and the bank balance.

CHAIN FREE

You can move into a new home as soon as it is complete. There’s no need to wait for existing owners to move out. This reduces the house buying chain and the stress and uncertainty that is often associated with moving, particularly into a second-hand home.

MORE FOR YOUR MONEY

New homes are built to a much higher specification than the majority of older homes so you get more for your money. They have central heating, double-glazing and high standards of roof, floor and wall insulation all included in the price, usually with standard features including fitted kitchens with integrated appliances and stylish bathrooms and cloakrooms.

PEACE OF MIND

With housebuilders providing a comprehensive customer-care service and added peace of mind from the 10-year warranty issued by organisations such as the National House-Building Council (NHBC), there is a great sense of reassurance that comes with a new home.

SPOILT FOR CHOICE

Whether it’s a one-bed apartment or a five-bed detached, there’s usually a new home for everyone and with a 7 day a week showhome viewing service, it’s much easier to find the home of your dreams – especially if you take advantage of a bespoke service to choose the fixtures and fittings to suit your lifestyle.

OASiS has teamed up with a local insurer and a number of specialist brokers to offer our clients access to some of the best rates of Insurance for Home Owners to be found.

They, like us, are passionate about client service and believe that the best way to support you and deliver real value for money is through their teams of friendly and experienced staff.

As a local business, they specialise in understanding the individual needs of their clients, a factor often missed when dealing with a national or internet-based organisation, and one particularly pertinent to our riverside location.

As well as arranging new cover they are happy to review the cover you already have in place to make sure your current policy is suitable for your needs.

For more information please let us know and we will arrange for a member of their team to contact you with a quote with preferential rates.

With the exception of a Mortgage Valuation which ALL lenders will require, there is no statutory requirement to carry out any form of survey on a property. However, unless you yourself are qualified in this area or have extensive construction experience, it’s always advisable to have some form of survey carried out on your prospective new property purchase.

Surveys in the home buying process generally fall into four categories:

• Mortgage Valuations
• Homebuyer’s Survey
• Full Building Survey
• Specialist Surveys

MORTGAGE VALUATIONS

If you are buying a property with a mortgage, the lender will require a Mortgage Valuation be carried out on the property to assess its worth against the price at which it is intended to be bought. This survey is effectively for the lender’s benefit to determine the risk to which the lender would be exposed in the event of the mortgage payer defaulting.

At OASiS, we make a point of providing mortgage valuation surveyors with Properly Prepared Valuation Information, supplying not only the valuation details of three comparable recent local property sales, but also a comprehensive package of accompanying Land Registry information in order to support the price agreed and minimize the risk of the lender ‘down-valuing’ the mortgage offer.

This type of survey does not assess the condition of the building, unless there are major defects that would affect the value of the property such as obvious subsidence or lack of basic facilities such as kitchens or bathrooms.

As part of this process, the surveyor will compare the property against others sold recently to gauge its value in the market place. To assist the surveyor with their valuation, OASiS will provide comparison properties and Land Registry data.

HOMEBUYER’S SURVEY

A Homebuyer’s Survey will be a non-obtrusive assessment of the overall condition of the property. The surveyor will follow a predetermined format, as prescribed by the Royal Institute of Chartered Surveyors (RICS), and the report will comment on any major issues such as subsidence and rot etc. However, they will not lift floorboards or move furniture; they will simply test for damp and report their readings accordingly.

This type of survey effectively looks at the overall condition of the building in a similar way that an MOT Test assesses a car. They can either be carried out at the same time as a Mortgage Valuation or independently; however, if the Mortgage Valuation is carried out at the same time, the surveyor will likely use the more in-depth findings from the Homebuyer’s Survey in the valuation report.

The survey will include a description of the construction of the property and will give an indication of the estimated cost of rebuilding should this ever be required. The average Homebuyer’s Survey will take approximately 2 hours and cost from £500.

FULL BUILDING SURVEY

Formerly referred to as a ‘Full Structural Survey’, a Full Building Survey is a far more comprehensive survey and will look at the condition of the property in greater depth. As well as covering all the areas looked at by a Homebuyer’s Survey, such as major defects, this type of survey will also indicate minor defects and suggest the likely costs to repair or rectify these issues.

A Full Building Survey will investigate the presence of damp and wood-related issues and will visually inspect the damp proof course, the insulation, the loft space and the drains. Furniture will be moved and otherwise inaccessible areas such as under carpets will be examined.

The average Full Building Survey will be far more extensive and costs approximately £1000. It’s worth noting that both levels of survey will include various caveats and statements deflecting liability from the surveyor, most notably in relation to the electrics and central heating. And they may also recommend further specialist surveys (see below) especially where older properties are concerned or where evidence of historical building modifications have been carried out.

SPECIALIST SURVEYS

As a general rule, most surveys will suggest that some form of further specialist advice is sought in areas that fall outside the normal remit of a surveyor, such as heating, electrics, damp, wood condition and structural issues. In some cases, a degree of common sense will be required; surveyors tend, as a breed, to be ‘belt & braces’ in their approach, and it’s easy for a layperson to read a survey at face value and conclude that what was their property should, in fact, just be condemned! In the event that a further survey is required, OASiS can usually organise this for you.

– Electrical Survey

Nearly every survey will ‘red flag’ or highlight the electrics of a property as an area requiring investigation, as the surveyor is not likely to also be a qualified electrical engineer and therefore cannot professionally comment on this area. Should you wish to carry out an electrical survey, OASiS can organise this for you.

– Central Heating Survey

As with electrical issues, a survey will nearly always exclude this area. In some cases, if the property you are buying has had a recent boiler change or if the property has been recently rented out, then some form of professional certification may exist. Otherwise, OASiS can arrange for a Heating Engineer to attend; however, they will not be allowed to physically investigate the system beyond a visual inspection for fear of creating a potential legal conflict in the event that damage is caused. The cost depends on the size of the property.

– Damp and Wood Condition Survey

Another common area that frequently comes up in surveys, particularly in older properties, is damp. The age of the property you are buying will be a particular factor in the likelihood of damp, due to the type of damp proof course (DPC) in place. Surrounding ground conditions and the provision for the dispersal of rainwater will also play a part and are also worth investigating.

– Specialist Structural Survey and Structural Engineers Report

On occasions, a regular building survey may highlight specific concerns which they suggest need further investigation, the most common areas being subsidence (both historical and current) and the lack of sufficient or evident structural support (usually in relation to the removal of chimney breasts and the provision of support to any remaining stacks). It is usually possible for a building contractor to suggest a likely plan to rectify concerns in this area, assuming the mortgage lender does not stipulate that a more technical survey is carried out as part of the official offer.

As a general rule, most professional removals companies suggest that you start planning the removal process around six weeks in advance to give you plenty of time to have a real purge of unwanted items which can then either be disposed of or sold.

As part of the moving process, it’s also advisable to start thinking about who else needs to be informed of your new address and contact details, such as your bank, doctor, dentist, employer, utility suppliers etc. You should also look into having your mail re-directed by the Royal Mail.

There are generally two ways of moving home; doing it yourself or employing a professional removals company to handle the move for you.

DOING IT YOURSELF

Although the cheaper option, there are a number of factors that you need to consider, not least the quantity of items that you will need to move. If you are a first-time buyer, it may well be feasible to hire a van and enlist the help of friends and family to move yourself.

If, however, you are moving to your second or later home, then the likelihood is that you will have acquired a lot more possessions over the years and you should really consider whether hiring a van is a realistic option.

Timings are another important factor to consider if you are planning to move yourself. If you are buying a home involved in a chain, then you are unlikely to be able to move your possessions into your new home until the sale has officially completed.  If you are moving yourself and likely to require more than one trip then you need to consider how this will affect those buying your house if you are delayed at any point.

Damage caused in transit is also another important consideration. If you plan to move yourself it is advisable to contact your insurer to check their position on this, should any of your valuables get lost or damaged in the moving process.

EMPLOYING A REMOVALS COMPANY

Although clearly the more expensive option, the advantages of using a professional removals company are numerous. Most removals companies will offer a range of services from a ‘full packing and move’ to a basic, more cost-effective service where you do your own packing. And they should offer a free consultation and quotation service where various elements will be discussed, including what is to be moved from where, and what challenges the existing and new locations may present. A word to the wise – when you’re selecting your removals company, please check that they are fully insured!

Once you’ve chosen a removals company, they should nominate a ‘Move Manager’ who will be responsible for planning and managing your move. The company will organise a packing team to attend the property and start packing (or supply you with packaging materials if you are planning to do this yourself) and they will also arrange for appropriate insurance for specialist items cover, should this be required.

You will need to have planned for the move day to assist the teams. If there are any parking restrictions at either of the move locations, you will need to plan for these well in advance and organise permits or request parking exemption in the case of yellow lines from the local council. It is always worth arranging for pets and small children to be moved to a neutral location to avoid placing them under unnecessary stress.

If your move involves an item that is directly connected to a mains utility such as an oven or cooker or electrical fitting, then a specialist contractor will be required, especially where gas is concerned. In these cases, you will need to make arrangements for this to be carried out, ideally in advance of the actual move date in case there are any unforeseen issues.

Where valuables are concerned it is advisable to put these in a safe place that is easily accessible by you, even during the move.  Computers should also be backed up to prevent any data loss.

On the move day, the teams will arrive and the removal process will start in earnest. This is when the advantages of using a professional mover will become apparent. Make sure that the room location of all packages is clearly marked up so that they are unloaded into the correct rooms at the new property.

And most important of all… never, ever forget to keep the kettle out of the packing and stock up on tea, milk, sugar and biscuits. Professional removals people work much more efficiently when they’ve just had a fresh brew!

OASiS has been working with the best local removals company for a number of years. They share our commitment to customer service and are renowned for their attention to detail, offering a range of moving solutions from straightforward ‘pack and move’ to international relocations, as well as short- and long-term storage options.

Best of all, they offer highly preferential rates to OASiS customers! For a free consultation or advice, please call us and we will put you in contact.