The legal and mortgage process: surveys, searches and exchange
This is the part of buying a home that can feel like the longest, mostly because a lot happens that you cannot easily see. Here is what is actually going on.
Mortgage valuation versus survey
Your lender will arrange a mortgage valuation, but this only confirms the property is worth what you are paying. It is not a check on its condition. Most buyers choose a separate survey: a Level 2 (HomeBuyer) report is common for reasonably modern properties in good condition, while a Level 3 (full building) survey is worth considering for older or period properties, particularly anything with unusual construction.
What your solicitor is doing
While the survey is being arranged, your solicitor is carrying out local searches: checking planning history, environmental issues, flood risk, and anything else that might affect the property. They will also raise enquiries with the seller's solicitor about anything unclear in the title or paperwork. This back and forth can feel slow, but it is designed to protect you.
If the survey raises something
It is common for a survey to flag something. Most issues are minor. If something more significant comes up, this is the point to have an honest conversation about whether to renegotiate the price, ask the seller to fix it, or simply proceed with the information in hand.
Exchange of contracts
Once your mortgage offer is confirmed, your searches are complete, and both sides are ready, contracts are exchanged. At this point you pay your deposit, agree a completion date, and the sale becomes legally binding. This is the point at which pulling out becomes very difficult and can be costly. It usually happens a few weeks before completion itself.
If a chain looks fragile at any point, tell us early. It is far easier for us to manage a problem we know about than one we discover on completion day. Your associate stays involved through this whole stage, not just at the beginning and the end.
