Looking to buy in London? Let's make it happen.
We know all there is to know about buying in London and our expert team are dedicated to guiding you through every step of the process and finding you the perfect property.
5 star rated
by our customers
Trust pilot widget will be here
Why choose Fisks London?
Our experienced and knowledgeable Property Consultants will assist you with your property search. All of our viewings are accompanied, so we can answer questions about the property and the local area. We are open every Saturday and until 7:00pm on week days and often accompany viewings up to 8:00pm. Generally we can arrange appointments at your convenience.
Fisks London have partnered with Zing Mortgages, a provider of quality mortgage advice backed by award winning customer service. Their advice will be specifically tailored to your needs and circumstances. Zing are able to service overseas clients wishing to purchase in London. We often refer buyers and sellers to Zing Mortgages. It is your decision whether you choose to deal with Zing Mortgages. Should you decide to use their services, we will receive a commission.
On Acceptance of an Offer
Estate agents are required by law to check the identity of vendors and purchaser’s to prevent money laundering and fraud.
Vendors have to provide ID on instruction and buyers must do the same on acceptance of an offer.
Proof of identity can be verified by – passport, driving licence, or an EEA member state identity card.
Proof of address can be verified by – driving licence, bank or credit card statement, utility bill (not more than 3 months old). Mobile phone bills are not a valid proof of address.
You will need to provide us with solicitor details so we can work with the vendors’ solicitor to progress your property purchase; we will issue a Memorandum of Sale which records the purchase price along with details of the seller, buyer, and respective solicitors, plus any conditions to the sale.
Draft Contract And Preliminary Enquiries
The seller’s solicitors will send a draft contract to the purchaser’s solicitor which will detail the names of the parties, the price and evidence of title. At this stage the purchasers solicitor will also raise preliminary enquiries for example, responsibility for boundary fences, which fixtures and fittings are included in the purchase price and whether the property has N.H.B.C. cover.
Leashold Enquiries LPE1
Vendors of leasehold property will need to instruct their solicitor to request a leasehold pack from the managing agents containing information about the freehold management, ground rent and service charges. This will need to be provided to the buyer’s solicitor.
As soon as the purchaser has received a draft contract pack from the seller’s solicitor, they will request funds from the purchaser in order to commence the local searches to include a Local, Environment and Water Authority search. Searches reveal details such as; the grant of planning permission, whether the road fronting the property has been adopted by the highway authority, whether there is a tree preservation orders and whether the property is listed or in a conservation area. In some cases, the solicitor may decide that a Chancel search is also necessary.
A mortgage valuation survey is commissioned by the lender in order to establish whether the property being purchased will be adequate security for the amount of the loan
Purchasers may choose to commission a full structural survey of the property.
Report on Contract
When the searches and enquiries have been completed and the purchaser’s solicitor has received a formal mortgage offer, the purchaser’s solicitor will arrange to discuss the transaction. It is at this stage that solicitors will invite their clients to sign the contract, however please be aware that this will not be binding until the contract has been exchanged.
Purchasers usually pay 10% of the purchase price on exchange of contracts.
Exchange of Contracts and Completion Date
Prior to exchanging contracts the solicitors will agree a completion date. Mortgage companies engaged in the transaction, may require a specific number of days between exchange and completion.
Between Exchange and Completion
Final searches are carried out and the form of transfer or conveyance agreed between all solicitors. If you are selling, a mortgage redemption figure will be obtained and details of any estate agent commissions to be paid on completion will be checked with the vendor.
Council Tax, Water Rates and Outgoings
Vendors must notify the appropriate authorities of the change of ownership. It is the vendor’s responsibility to contact the gas, telephone and electricity and any other utility providers.
It is normal practice to leave keys with the selling agents to be handed to the buyer only when they have confirmation of completion. If the vendor holds the keys they should not be released to the purchaser until the solicitors have confirmed completion.