Although we act on behalf of the vendors’ during the selling process, we like to be part of transactions where both parties are equally satisfied and so we do our very best to ensure you are valued as a buyer. After all, if your circumstances change, we would love to help you out again.

See commonly asked questions below:



Before applying for a mortgage you’ll need to think about more than just whether you can afford the monthly repayments. Mortgage providers will be looking at your income and outgoings to see if you can keep up with repayments if interest rates rise or your circumstances change.

We suggest you speak to a mortgage broker who will be able to assess your situation and advise best on the budget for your purchase. Please contact us if you would like recommendations on a broker.

We recommend that you get your current property on the market whilst looking for a new property. This will put you in the best possible position, when you do find your dream home.

We would expect a straightforward transaction to complete within 12 weeks of an offer being accepted and lawyers being instructed to proceed. However, there are factors which can speed up or delay a typical purchase. Some complex transactions can take over 6 months, although this is not something to be concerned about.

Third sentence should have “Some costs within the quote, such as stamp duty, will be the same regardless of the solicitor you use.

Please refer to our SDLT calculator for more information on this.

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The mortgage lender will always carry out a valuation of the property. It’s important to note that the survey carried out by the mortgage lender is for their purpose to assess only the value of the property compared to the loan amount you’ve requested. Their report is not to advise you on the condition of the property.

The deposit is payable when both parties are in a position to exchange contracts. On the date of exchange, the purchase is legally binding, and so if for any reason, the purchase does not complete there is a risk of the deposit being lost.

Unfortunately, under current UK law the purchase of a property is only binding when contracts have exchanged. Before this point, a seller or buyer can withdraw and no compensation is due.

This will be when your solicitor is satisfied with search results, queries raised and certificates presented. Your solicitor will be in receipt of the mortgage offer if applicable.


Any Questions?

Please get in touch on 0204 548 3738 or info@modisrealestate.co.uk