The importance of a No Completion, No Fee guarantee when moving home

It's well-known that the process of moving house can be one of the most stressful of a person's life.

The sheer number of things that you need to keep on top of just to keep the transaction moving onwards to its conclusion is enough to drain the energy resources of even the most optimistic person. It can be like sitting in a rowing boat in the middle of a lake with leaks spontaneously pouring inside, while you're furiously paddling to get to the shore.

Because of the stress and energy-sapping management of moving home, the last thing you need is to receive the news that your transaction has fallen through, especially if it's at the last minute. The problem is that such instances are perhaps more prevalent than many of us realise.

Interestingly, Inside Conveyancing published an article that highlights some of the problems faced by homebuyers whose planned purchases have fallen through, collated from a survey by online homebuyer portal, Quick Move Now. 

What it shows is the chief reasons for a purchase not reaching completion are:

1. The buyer failing to secure a mortgage (40%)
2. The buyer changing their mind/failing to negotiate an acceptable price (27%)
3. A broken chain link further up or down the chain (14%)
4. Gazumping (12%)
5. Issues arising from a building survey (7%)

The article also indicates the overall percentage of the market suffering from fall-throughs is beginning to trend upwards with the third quarter of 2024 showing almost a third of home sales having some sort of issue that terminates the transaction.

In truth, there are so many issues that can arise when buying and selling a property that it becomes increasingly important to protect your financial outlay where possible.

This is where Homeward Legal can really help you.

As you are no doubt aware, the cost of moving home - from the legal side of things to surveys, deposits and mortgages and on to removals costs - can be worrying. But the anxiety of your transaction being stopped in its tracks for whatever reason can be difficult to deal with, not helped if you had your heart set on the property that you've agreed an asking price for.

Whatever the reason for the transaction falling through, if you haven't reached the completion milestone yet, Homeward Legal will not charge you any fees accrued to the point where the sale has ground to a sudden halt.

You'll have to pay for any third-party company items that have been ordered (for example, a specialist flood report or a Japanese knotweed analysis), which are known as disbursements, but the fees for your assigned solicitor will be wiped from the slate.

This coupled with our guarantee that what you are quoted in legal fees is what you'll pay - but only on successful completion being achieved - will provide the peace of mind that means that Homeward Legal should be your first port of call when you are entering the housing market to buy and/or sell a property.

You can find out more about Homeward Legal's  no completion, no fee guarantee.

Call  to get your conveyancing quote started, or to discuss your concerns with your plans to move.

Or you can get a quick quote, using Homeward Legal's easy-to-use quote generator.