5 Things to Consider When Buying a House

By Kirstie Philpott

Senior Associate

You will need to instruct a solicitor or conveyancer to deal with the legal side of your transaction. If you are obtaining a mortgage you should also check with your lender first if your preferred solicitor is on their “panel” of approved solicitors before instructing a solicitor. Once an offer has been accepted on your chosen property you should then look to engage your solicitor.

Stamp Duty

With the continual roll of changes since COVID with Stamp Duty Land Tax (SDLT) rates, you should check your SDLT liability and include this in your budget. SDLT rates are affected by a number of factors including the property price, how many properties you already own, if you have owned property before etc. You can calculate your likely SDLT liability using the Government’s SDLT Calculator, however if your tax position is more complicated, it may be beneficial to instruct a specialist tax adviser to advise on your liability and any exemptions or reliefs available.

Joint Ownership

If you are buying with another person, you should consider how you wish to hold the Property together, as joint tenants or as tenants in common. Your legal advisor will give you more information on this but it may also be beneficial for you to take further advice on estate planning and drafting a Will prior to your purchase.

Mortgage Finance

If you need a mortgage to assist with your purchase, you should consider engaging a mortgage broker. With the cost of living increasing as well as the base rate going up and up, it’s important to get the right advice to protect your interests and find the best financial route for you.


From the time of your offer being made, it can still take at least another 2-3 months to get to a point where you are holding the keys to your new property. Surveyors will require time to inspect the property and draft their report to you. Legal advisers will need time to receive results of searches, review title deeds, assess your source of funds and raise enquiries with your Seller’s solicitor. You could also be in a chain, where your seller is buying, and then your seller’s seller is also buying etc. meaning your timescale for completing will be dependent on all parties in the chain being ready to exchange and complete at the same time.

For more information and to find out how we can help you, please contact us on 0345 646 0406 or fill in our online enquiry form and a member of our Team will be in touch.