UK just loves to makes us spend money. Bought two flats in Portugal and paperwork is very easy and you don't use a solicitor at all. You just handover the paperwork to the bank and done. In one/two months you get the key. They also don't have this feudal leasehold shenanigans so. I am now buying my first flat in UK and what a headache, really. :(
As a solicitor and property developer a good video! I would add that I have no idea what Firm adds a margin to a property search, if I understood your comment correctly. Search costs differ depending on the area and how quick you may want to receive them. Personally depending on my clients and clients lenders needs I would discuss the options before ordering searches. You are right solicitors don't need to be local to you, but do ensure they can act for you as Firms policy differ depending on if they can act for overseas clients.
Great video like always, Jamie! Every time I see a new one, I’m reminded how I’m wasting time waiting to have the perfect amount to get a portfolio started, when based on what I learnt from your vids I could probably be ready to get my hands into it
Great video. Wish i had watched this before appointing Muve conveyancing, a faceless conveyancing farm who outsource to the other side of the world. Stay clear of these cowboys whatever you do people!
Great video, got an interview with a conveyancer today and this helped me understand the fine details of the process a little more. I will say though, I remember a tourist advert in the 1980s with Roy Castle inviting people to "Come To Sunny Scunny" for Scunthorpe.
Speed and communication 100% correct. When I sold a house years ago the buyers solicitor had actually gone on holiday for 3 months and left everyone waiting and actually blaming me for gazumping and delaying things. I was threatened by the buyer for holding things up and it wasn't until my solicitor got fed up put in a complaint to the buyer that he flew back to UK and explained to his client where he was all that time.
Hi Jamie, first time ļ here. No idea what to do when we decided to buy so we agree with all the recommendation of the mortgage adviser. The mortgage fall thru due to some issue with the building. The solicitor now is charging me £2000. I just just realised they are the most expensive compared to solicitors you can get from outsourcing yourself. I thought my mortgage adviser was real. I didnt look any.further when he introduce both the surveyor and solicitor. Oh i am going hate to pay 2 grand. I feel like beimg scammed!
Ouch! Check on what you agreed! £2K seems steep if you're not completing on the property. However if they have done a lot of the hard work already then it can be more justified!
I'm going through it now on my first B2L, very boring but got to be done! Jamie, I'm really interested in buying property in Yorkshire but I live in Surrey. I'd love a video with your thoughts on investing outside of one's local area.
Hi, Jamie. If you're working with a motivated vendor who, due to their circumstances, needs to complete within 1-2 weeks, what are your top tips for getting through conveyancing as quickly as possible while protecting the investor?
What exactly is the Freehold property. There are a lot of ideas out there that make it sound normal but is that the case? Why is called freehold and what exactly does that mean for the owner. Help! I really would like an answer on this.
Very informative and not deviating from the point once again, thanks Jamie! Could you make video about exit strategy - what are the possible threats for BTL investor to pull out of the mortgage and what are the best ways to minimise the losses. Much appreciated 👍
Hi, I bought a house in England about 4 years ago I would like to buy some thuja plants to have more privacy in front of my house would like as well to buy a shed where to keep some of my tools and to clean the roof of my house and renovate a bit my house . I bought the house on a residential mortgage and now I don't know if I need to let my mortgage lender now about this changes that I want to do? If I need to let him now then do I need to require permission from him or only to let him know so he will be aware about the value house? Can he disagree? I would like to sell my house in future, I would pay for this information if you know just let me know please. Thank you!
Question Jamie pls? Property interested in asking for unconditional offers. No legal pack provided however expected to do due diligence prior to placing offer as its binding if accepted. Its all OK if I had certainty that offer would be accepted no issues with spending on due diligence but no certainty of offer being accepted and expected to spend £. This seems like a auction without a legal pack provided. Have you come across this setup ? How would you proceed in this situation? Thanks
Great video, once again. Jamie what's the quickest time of conveyancing you have completed? Normally it takes me 10-12 weeks with my conveyancers. Am I picking the wrong team?
Hi Jamie, any suggestions for good Tax Advisor? Based in West Mids. So many available hard to pick the best one. Wondered if you had an online/ virtual one you might recommend?
hi my solicitor asked if it ok to do exchange contracts and complete them on the same day with and I said ok, now I am worried is this possible because I go a mortgage also. please let me know thanks
Yep… they request drawdown of funds from the mortgage company. Once the money lands. You exchange and complete… almost all purchases are done like this in the investment world
That’s because it’s not their job to do that at all. If you’re a cash buyer it’s for you to decide if you want one, many don’t bid it’s a mortgage then it’s your broker that should sort, chase and communicate with you :)
@@JamieYork sorry I mean they give me no information of any of the process at all or steps I have to keep ringing them and ask so far I've only rang 3 times but I hate feeling like I'm basically nagging someone by ringing them over and over so I try not ringing
