What Documents Should I Receive After Buying a House?
Estimated reading time 6 minutes
Paperwork is never fun. Legal jargon to decipher, dotted lines to sign, policies, and procedures to understand, and financial statements that could make you either laugh or cry, it can be a bit of a minefield.
With property, the paperwork seems endless, and when you purchase a new home, you’ll need to make sure you have it all in check. Its importance may not be noticeable now, but it could well be within weeks, months, or even years after your property purchase.
We looked at the documents you should receive once you complete the purchase of your new home.
The mortgage deed
In most cases, when you purchase a property, you will be using a mortgage to pay for it. Unless, of course, you are a cash house buyer who has bought the property outright. The mortgage deed will be given to you by the lender and stipulate the terms and conditions of your mortgage as well as how much you are borrowing, the interest that you will be charged and the repayment plan for it.
This is an extremely important document when buying a house as it lasts the duration of your mortgage, so read it carefully to ensure it is correct and you understand it. The terms within are legally binding and give the lender the right to repossess the home should there be any breaches of the agreement.
Energy Performance Certificate (EPC)
The EPC, or Energy Performance Certificate is a useful document that helps you see the property’s energy efficiency. These are a legal requirement and make up part of the property information pack supplied by the seller. You may have already seen the PIP (property information pack) during the initial stages of the purchase, but you should also receive a copy once the sale has closed. The EPC is valid for 10 years from the date of issue and you can always request a new one be granted, especially if you have made energy efficiency improvements to your new home.
Indemnity insurance certificate
Indemnity insurance when buying a home can be a useful way of protecting yourself against potential property problems that may arise. There are a variety of indemnity insurance policies that can be taken. Some of which will apply to your home, and others that will not. As indemnity insurance covers the property and not the individual, there is a chance that an indemnity insurance policy is already in place when you make the property purchase. Your conveyancer will be able to advise on this and provide you with the documentation should a policy be in place. If there isn’t, you can take one out to ensure you are covered. Just make sure the insurance documentation is kept safe as you will need it if a claim is ever raised.
The TA6 form is also known as the Property Information Form and provides you with plenty of relevant information on the property you have just purchased. Items such as the locations of meters, boundaries, any planning notices, and access rights will all be included among many other things. The seller will complete this document accurately in advance of the sale and provide it upon completion of your property purchase.
Stamp duty receipt
Stamp duty needs to be paid when purchasing a property and within thirty days of completion, you should be provided with confirmation that it has been. The stamp duty receipt is checked by HMRC when then the transfer of ownership is registered so it is extremely important that this document is kept.
The title deeds will show that you have been registered as the owner of the property with the land registry. Initially, these deeds or the confirmation of the registration will be sent online. Approximately a month after completion, your solicitor should send you a copy of the title deeds showing that you are now the legal owners.
Leasehold property documents
If the property you purchase is a leasehold rather than a freehold, you will also receive additional documents that will outline service charges and any tenancy terms. These can be especially important if you have any queries later relating to your service charges or if any unexpected costs suddenly arise. These documents will also explain the rules around renovation and changes to the property that you may wish to make. These documents also make up part of the PIP we mentioned earlier.
Fittings and contents form
In some cases, when you purchase a property, the former owners may leave some items behind that you can benefit from. Commonly this could be curtains, carpet, or wardrobes, but occasionally it’s even sofas or beds. These items will all need to be logged as included in the sale. This form will do that, and you must keep it so that any future disputes can be avoided.
If the home you are buying is a new build or a home that is under 10 years old, you should be provided with a copy of the home policy/warranty documents. Like many other documents, this is important to keep should you notice any property defects that may not have been picked up in a snagging survey.
A further part of the PIP that must be included is the conveyancing search results. The local authority searches, the water and drainage searches and the landfill search among others must all be completed where relevant, and the documentation provided. It should be noted that some searches are paid for typically by the buyer whilst others are covered by the seller. You should speak with your solicitor to see which searches may need to be carried out and if deemed reasonable, negotiate with the seller over who pays for which searches.
There may of course, be other documents specific to your property so it is always advised you speak with your solicitor to check if anything else may need to be obtained. At least that way, you have full information from a qualified expert as to what you may need. The list above illustrates the most common and most important. If you are looking to secure a new property quickly, you could speed up the process by selling your current home to Gaffsy. We work fast to ensure your property is sold in a timeframe that suits you. This means you can have a sale completed in as little as seven days if necessary. A fast house sale is guaranteed and because we buy any house, you can rest assured that your property will sell regardless of its location, its type or its condition. Speak to our property experts today to get the quick property sale you desire.