Buying a property is one of the biggest investments that you are likely to make in your lifetime. It is essential that you are aware of the process and the documents that you should receive when you buy a house and the purchase is complete. These documents will ensure that the house is legally yours, here we look at what documents you should expect to receive on completion of your purchase.
Transfer Deed:
The main most crucial document you will receive when you purchase your house is the transfer deed. This is the legal document which will transfer the ownership of the property from the previous owner to you. It is registered with the land registry to prove the legal ownership of the property.
Included in this document will be a copy of the title register which shows you as the new owner of the property. Within the transfer deed it will outline and terms and conditions attached to the property such as planning permission.
Mortgage Deed:
If you are purchasing the property with a mortgage, then you will receive a document called a mortgage deed. This will show the terms and conditions of your mortgage, the repayments, the interest, the amount borrowed and any terms attached to the mortgage. It will also stipulate that if you do not keep up with your mortgage repayments the mortgage provider could legally repossess the property.
Leasehold Documentation:
If the property that you purchase is a leasehold property you will receive a leasehold document. This will outline the lease, any service charges required to be paid by the new owner. You will need to read this document carefully and understand the leasehold terms and sign the document.
Property Information documents:
You will receive a PIP which is a property information pack. This will tell you about the property. It will include and documents they feel is necessary along with the EPC (energy performance certificate), water and drainage search, local authority search and landfill search.
Stamp duty receipt:
If your purchase is subject to stamp duty you will receive a receipt for this within 30 days of purchase.
These are the main documents that you will expect to receive when you purchase your new house. If you have any queries here at UKMC, our friendly team will be happy to provide you with guidance.
You can also download our FREE purchase guide here
Download our FREE Document checklist guide here
Disclaimer
UK Mortgage Centre Limited is an Appointed Representative of Refresh Mortgage Network Limited. Refresh Mortgage Network Limited is authorised and regulated by the Financial Conduct Authority. We are entered on the Financial Services Register under firm number 1019794.
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments. The Financial Conduct Authority does not regulate some forms of buy-to-let mortgages.
The Financial Conduct Authority does not regulate will writing and taxation and trust advice.
You may be charged a fee for your advice. A typical fee is £495, which would be payable when you receive your mortgage offer. Your dedicated advisor will discuss this further on your free initial phone call.
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