Buying, selling and moving home can be a stressful process, even without the setbacks that a failed offer can create. So what do you do when your house sale or purchase falls through unexpectedly? 

## Top 5 reasons your house sale might fall through

According to research from Which? [one in four house sales](https://www.which.co.uk/news/2020/01/five-reasons-house-sales-fall-through-and-how-to-avoid-them/) fell through in 2019. However, since the outbreak of Covid-19 there were [12% more fall throughs](https://www.twentyci.co.uk/phmr/twentyci-property-homemover-report-year-end-2020/)in the first year.

Here are some of the most common reasons that sales or purchases might slip through the fingers of the parties involved.

### 1 - Mortgage problems

Mortgages can be a big stumbling block for homesellers. First of all, a buyer’s offer could expire by the time they make an offer. If there is a change in their circumstances, such as job security or income, they may not be able to get the full loan amount they were promised by the lender, leading to a problem in the mortgage process.

More issues can arise if the buyer’s mortgage lender values the property at less than what was offered in the mortgage agreement in principle. If this happens, the buyer will be unable to get the funds they require to purchase the house from you. As a result, they will be forced to either renegotiate the price with you, find the rest of the cash from elsewhere, or find a new lender who values the home at a higher price (although lenders are unlikely to vary massively).

### 2 - A break in the chain

Property chains are a string of transactions that are linked when selling and buying property. For instance, a house sale that has to be completed before a buyer can buy your home. Just one sale falling through can affect the whole chain, or even break it if there’s no way to salvage the transaction. Though your link in the chain may be ready, if another transaction in the chain has fallen through, your sale or purchase can be rendered impossible.

There are many reasons why a chain could break. Mortgage issues, which we’ve already looked at, are sadly a common one. 

### 3 - Issues identified by surveys or conveyancing

There are a variety of surveys and legal inspections that need to take place during property transactions. Home surveys can uncover a range of structural or cosmetic issues, which could cause a buyer to renegotiate their offer (especially if the issue raised will cost them a lot of money to solve).
The legal practicalities of property transactions take time — waits for documentation arriving, slow local authority searches or unresponsive legal representatives can cause weeks of delays. During this conveyancing process, parties may lose patience or start to look elsewhere, causing issues with the chain, or causing the sale to fall through completely.

### 4 - Due to Gazumping

Gazumping is [when a seller accepts a higher offer after they’ve already agreed to a buyer](https://www.getagent.co.uk/blog/first-time-sellers/gazumping). Accepting an offer is not legally binding, and in sought after areas or competitive markets, gazumping is fairly common.

As a buyer, there's not a lot you can do, despite how inconvenient the situation is. You could approach the seller with a better offer (if possible), or provide reasons as to why your purchase is better for them. You may be able to accommodate particular dates, or carry other benefits like no property chain. However, it’s best not to overstretch yourself financially. Your mortgage lender could nip this in the bud during their valuation, and cause the sale to fall through anyway.

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### 5 - Due to Gazundering

Another [equally weird phrase](https://www.getagent.co.uk/blog/first-time-sellers/gazundering) to get your head around is gazundering. This is when a buyer offers less money to a seller than they previously promised at the last stage of the transaction. For example, if the buyer’s lender values the property at less than what the buyer offered, the buyer may try to gazunder the seller as they are unable to pay what was originally agreed. 

Again, while this is a very annoying situation, the offer is not legally binding. As a seller, you can reject their new offer, or work with them to make up the difference. You can then put the house back on the open market, or accept another offer if a potential buyer is still in the market to buy.

## How do you stop a house sale falling through?

To avoid a fall through with a mortgage lender as a buyer, __you should research sale prices in the area before making your offer__ so that your valuation won’t be dramatically different or cause issues with the home loan. Buyers should also seek out a [Mortgage Agreement in Principle (AIP) ](https://www.getagent.co.uk/blog/buying/mortgage-agreement-in-principle)from lenders before making any offers. As indications of how much buyers are allowed to borrow, AIPs allow you to view properties within an appropriate price range.

Homesellers can [seek valuations from several estate agents](https://www.getagent.co.uk/blog/first-time-sellers/how-estate-agents-value) before listing the property, so that the value is realistic and achievable. Sellers should also try to gain confirmation of funds from potential buyers, to ensure that finances are in place before going ahead with a sale. 

It may also be worth carrying out surveys on your property before putting it on the market. Any issues with old properties can be addressed before a buyer discovers them.

Although chains rely on conveyancers to keep things moving, both buyers and sellers should chase their legal representatives regularly to find out the status of the transaction and ensure they’ve provided all the documentation necessary to keep the process running smoothly. If you are ‘chain-free’ (a first-time buyer, a cash buyer, or a non-forward sale), then you can also use this as leverage or as a benefit to the seller in the transaction.

## What to do if your house sale falls through

If your sale falls through, it’s normal to feel vulnerable or insecure about your future. Remember, property transactions can fall through for a bunch of reasons, many of which are often out of your control. 

If you find yourself in this unlucky situation, here’s some steps to consider.

1. Use a different estate agent who specialises in your local area or home type. Our free [GetAgent Comparison Tool](https://www.getagent.co.uk/vendor) analyses the performance of local agents to help you choose the best for your needs.

2. [Sell your home privately](https://www.getagent.co.uk/blog/estate-agents/selling-a-house-without-an-estate-agent). Some people decide to sell their homes without the involvement of agents. This would require the seller to have relevant connections of their own and enough free time to market the property. If you know someone who would be interested in purchasing your home, or even doing a house swap, you can take the sale into your own hands. Without these key skills however, this method can prove both expensive and exhausting.

3. Finding a [cash buying company](https://www.getagent.co.uk/blog/cash-house-buyers "Cash buying companies") can be handy when you need a quick sale for relocation, but they’re particularly useful when a house sale falls through. However, you may have to sacrifice a large percentage of the profit for the convenience. Selling with a top-performing local estate agent will nearly always get you the most for your home.

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### What are your legal rights when it comes to a sale falling through?

Unlike other countries, offers are not legally binding in the UK. A sale is only guaranteed once you have exchanged contracts, or as in Scotland, where the missives are concluded (sale conditions are negotiated between parties). So if your sale or purchase falls through before the exchange of contracts, there’s little you can do legally, apart from figure out your next move.

## What if a sale has fallen through multiple times?

If buyers have dropped out and your sale has fallen through multiple times, it might be time for you to review what you are offering as a seller. Here are three things you should do:

* [Improve the conditions of the house](https://www.getagent.co.uk/blog/selling-tips/how-to-add-value-to-your-home), as buyers may be scared of the costs involved in correcting survey issues or structural damage.
* [Ensure pricing is accurate](https://www.getagent.co.uk/blog/selling-tips/setting-the-right-price), or else mortgage lenders may be hesitant to give out loans for the property if you’re asking for too much,
* Ask for proof of finances early so funds are verified and available for the sale to complete, and communicate regularly with the entire chain if possible, to keep things moving forward.

## Do solicitors or estate agents charge when a house sale falls through?

Many estate agents and solicitors work [on a no sale no fee basis](https://www.getagent.co.uk/blog/estate-agents/no-sale-no-fee-estate-agents), so if the sale falls through, you will not pay their fees. However, you may be required to pay for any costs for third parties that the estate agent or solicitor had incurred (such as for search fees, identify checks, or for conveyancing costs) depending on how far the sale had gone.

You can [ask about these costs](https://www.getagent.co.uk/blog/first-time-sellers/cost-of-selling-a-house) and how they work upfront, before you put your house up for sale.


house sale fallen through

One in four house sales in the UK fall through after offer. But what do you do if this happens to you? Find out more in this GetAgent guide.

House Sale Fallen Through? What you should do

Whether you’re a fan of electric cars or not, their future as the primary mode of transport in the UK, is set in stone. Under current Government plans, all new cars will be electric from 2030 onwards, as petrol and diesel models are phased out.

With electric vehicles set to become the new norm, many drivers are taking the plunge and switching out their diesel models for electric. As you’d expect, these models must be charged in order to run effectively. 

There are over 28,000 charging stations distributed throughout the UK. However, their distribution is not even, with some areas containing a greater concentration of charging points than others. As [house prices](https://www.getagent.co.uk/house-prices) vary dramatically across the UK, many homeowners sacrifice their electric dreams for affordable housing. That’s why we at GetAgent took matters into our own hands, and worked out the most affordable homebuyer hotspots for electric cars.

## Where in the UK has the most EV charging points?

According to [Comparethemarket.com,](https://www.comparethemarket.com/car-insurance/content/uk-ev-charging-hotspots/) the areas with the highest number of electric car charging points are as follows: 

1. Milton Keynes, with a total of 258 public charging devices
2. Coventry, with a total of 156 public charging devices
3. Cornwall, with a total of 153 public charging devices

### Broken down by area

| Region                   | Charging devices (per 100 electric vehicles) | Average house price |
|--------------------------|----------------------------------------------|---------------------|
| London                   | 13.0                                         | £525,893            |
| North East               | 11.5                                         | £149,042            |
| Wales                    | 9.4                                          | £194,575            |
| Scotland                 | 8.0                                          | £180,832            |
| East Midlands            | 5.3                                          | £221,693            |
| Northern Ireland         | 5.1                                          | £153,449            |
| West Midlands Region     | 4.6                                          | £228,593            |
| Yorkshire and The Humber | 3.4                                          | £185,968            |
| South East               | 2.9                                          | £358,070            |
| East of England          | 2.8                                          | £324,510            |
| North West               | 2.7                                          | £194,821            |
| South West               | 2.6                                          | £288,658            |
| United Kingdom           | 4.8                                          | £264,244            |

### How many EV charging stations are there in the UK?

[According to Zap-Map](https://www.zap-map.com/statistics/), a trusted EV charging platform, __there are 28,715 EV charging stations in the UK__ as of 7th January 2022. Since 2015, the number of public charging stations has grown, on average, by 9% quarterly.

## Where are the most affordable areas to buy a house for electric car owners?

There are 20 areas in the UK that are home to more than 20 charging stations per 100 electric vehicles, with the average cost of a home coming in at £370,885. While this figure is 40% higher than the average UK house price, _the good news_ is that 14 of these charging hotspots are home to below-average property prices. The top three are as follows:

### 1. Blaenau Gwent

The county borough in south-east Wales is home to 22 public charging points per 100 electric vehicles. The average house price in the area is £112,343, making this a great spot for affordable housing and green living.

### 2. Western Isles

With over 35.4 public charging points per 100 electric vehicles, the Western Isles of Scotland have a higher number of EV points than Blaenau Gwent, but its average house price of £129,365 deserves second-place.

### 3. Sunderland

As the third most affordable area for electric car owners, Sunderland offers 22.2 charging points per 100 electric vehicles, while the average house price is £132,345.

#### See all areas

These are the UK’s most affordable places to buy a property with easy access to EV charging stations:

| Location              | Charging devices (per 100 electric vehicles) | Average house price |
|-----------------------|----------------------------------------------|---------------------|
| Blaenau Gwent         | 22.0                                         | £112.343            |
| Western Isles         | 35.4                                         | £129,365            |
| Sunderland            | 22.2                                         | £132,345            |
| Fermanagh and Omagh   | 21.3                                         | £139,626            |
| Dumfries and Galloway | 21.3                                         | £148,546            |
| Argyll and Bute       | 23.2                                         | £158,460            |
| Lincoln               | 26.4                                         | £169,115            |
| Boston                | 22.6                                         | £173,304            |
| Highland              | 22.8                                         | £184,214            |
| Gwynedd               | 23.9                                         | £193,961            |
| Coventry              | 38.3                                         | £204,170            |
| Isle of Anglesey      | 24.4                                         | £211,175            |
| Eden                  | 20.7                                         | £220,735            |
| Pembrokeshire         | 25.2                                         | £222,428            |

## Does an EV charging point add value to your home?

![home ev charging point](//images.ctfassets.net/us6n8ous4bz0/2RoX2VY9Yv0fMbfBBJrBoH/281ba0e8fa251c3a20afe2f5e9309175/home_ev_charging_point.jpg)

Yes, an EV charging point is likely to add value to your property. According to a [study released by Rivervale Leasing in July 2021](https://www.rivervaleleasing.co.uk/blog/posts/does-your-ev-charger-affect-your-house-price), an analysis of 1000 homes found that 76% of homes (with an EV charger installed) showed an increase in value. 

The findings correlate with predictions that the premium on EV charging point driveways is likely to increase, especially as the government moves to phase out petrol and diesel cars in 2030. What’s more, the current demographics of electric car owners indicate drivers with greater wealth at their disposal. As such, you can expect an EV-adapted home to appeal to wealthy buyers and therefore, sell for more.

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## How much does it cost to install an electric car charger?

On average, it costs £800 to install an electric car charger, but with the help of the Government’s Electric Vehicle Homecharge Scheme, you could pay a substantial amount less.

### Electric Vehicle Homecharge Scheme: Everything you need to know

In order to meet their goals of carbon net neutrality, the UK Government is encouraging car owners to go electric. As such, their Electric Vehicle Homecharge Scheme subsidises some of the costs of installing an EV charging station. The grant may fund up to 75% towards the cost of installing an EV charge point in your home.

* The grant is capped at £350 (including VAT) per installation.
* To be eligible, the person must own a [qualifying vehicle](https://www.gov.uk/government/publications/electric-vehicle-homecharge-scheme-eligible-vehicles) and have dedicated off-street parking.
* If you live in Scotland, you can get an additional £300 grant, depending on where in the country you reside.
* If you own two qualifying vehicles, you may apply for two charge points at the same property.

#### How does it work?

To get money off your EV home charger, just follow these simple steps.

1. Choose an EV charge point installer to fit your charging station. You can ask the installer to double-check whether your household qualifies for the grant.
2. Make sure the installer is authorised by the Office of Zero Emission Vehicles. Your vehicle must also be listed as eligible on the [Gov.UK website](https://www.gov.uk/government/publications/electric-vehicle-homecharge-scheme-eligible-vehicles).
3. When the installation is complete, the electrician will then bill you for the price of installation with the grant applied.

### How do you use a public electric car charger?

![how to use a public ev charging point](//images.ctfassets.net/us6n8ous4bz0/3Z9lJLQxZjHyGLoToThmfC/9af58edf7fcd8aa20ce0c45590ce657a/how_to_use_a_public_ev_charging_point.jpg)

If you’re an electric car owner, you might have some trepidation about using the public charging points dotted around the country. Luckily, the process is straightforward enough - just don’t forget to take your own separate charging cable with you, as the public station might not have one.

1. First, locate the charging station using [Zap-Map](https://www.zap-map.com) and park up alongside it.
2. Access your charging point, which should be located on the front of your vehicle, or on the side.
3. Plug your car into the charging station using the cable provided (or your own if none are available).
4. Unless you belong to a membership scheme, most stations require either up-front card payments or payments through a company app.

## Summary

“Our cars and our homes go hand in hand as they’re often the two most expensive assets we own and the two we’re most proud of. 

We know how a driveway or garage space can add real value to a home but with more of us opting for electric vehicles to help reduce our impact on the environment, the ability to charge them is fast becoming a very sought after amenity amongst homebuyers. 

Unfortunately, there aren’t many locations that offer an abundance of charging stations and even fewer still that also offer an affordable foot on the ladder.

As with any emerging technology, it should only be a matter of time before this tide starts to turn and we gain greater access to charging stations to help meet the growing demand for greener transport.”

- Colby Short - GetAgent CEO 

Public electric vehicle charger by a river.

The most affordable homebuyer hotspots for electric car owners

We took matters into our own hands, and worked out the most affordable homebuyer hotspots for electric cars.

The most affordable places to buy for electric car owners

Buying and selling is an expensive business. Survey costs, solicitors fees, the list goes on and on, and the potential bill at the end can be intimidating. But what happens if your home doesn't even sell? Do you still have to pay the Estate agents? That's where the 'no sale no fee' model was designed. But what does it entail? Keep reading to find out more.

## What is a No Sale No Fee Estate agent?

The name does exactly what it says on the tin, no sale no fee Estate agents are Estate agents that offer the following sales agreement: 

- if your property doesn't sell, you don't pay any fees.
- if your house does sell, you'll pay the Estate agent a percentage of the final sale price on completion of the transaction, which is commonly referred to as the commission fee.

### What's the catch with no sale no fee agreements?

The good news is that, on the whole, isn’t a catch with no sale no fee agreements. High street Estate agents have used ‘no sale no fee’ as part of their contracts for years and years. They’re a standard part of the industry. The only thing you need to look out in your contract is the tie-in period - the time you agree for the agent to solely market your property. If you’re unhappy with your agent, you may have to wait a while longer if the tie-in period is incomplete.

With online agents on the other hand, no sale no fee agreements are fairly new. In 2022, many have now adopted money back guarantees or some variation of them. Consequently, you should read their terms and conditions carefully.

## Do I need to pay an Estate agent upfront?

No, high street Estate agents take a small cut from the final sale price - that is after your sale has completed. Online agents, on the other hand, charge an upfront fee.

## Which Estate agents offer 'No Sale No Fee'?

Both online and traditional high street Estate agents offer no sale no fee terms. The four main online Estate agents offering no sale no fee are:

* Purplebricks
* Yopa
* Strike
* eSale

And this is how their fee structures work,

| Estate Agent | Upfront Fee | No Sale No Fee               |
| ------------ | ----------- | ---------------------------- |
| Purplebricks | From £999   | From £999 (10 month minimum) |
| 99 Home     |  £99        | From £799                   |
| eSale       |  £595       | £1,190                      |
| Yopa        |  £999       | On request                  |
| Strike      |  £0          | £0                           |

*Some data from hoa.org.uk

### Purplebricks
![Purplebricks](//images.ctfassets.net/us6n8ous4bz0/5rz0UKsFK275lNQqxaVm9u/6635d2398e1c67922081f315edcb9b30/Purplebricks.jpg)
Purplebricks often highlight that their fees are less than brick-and-mortar Estate agents. However, they don't actually offer a 'no sale, no fee' option. Instead, they have a 'buy now, pay later' style scheme. They do have a money back guarantee although there are limits and conditions on this. Though this might sound similar, it's a different kind of contract. You'll either need to pay the total cost up-front or pay after the property is either sold or ten months have passed, whichever comes first. 

You can read our [Purplebricks review](https://www.getagent.co.uk/blog/online-agents/purplebricks-review), and our review of [their money back guarantee here](https://www.getagent.co.uk/blog/online-agents/purplebricks-money-back-guarantee-review)

### Yopa
![Yopa](//images.ctfassets.net/us6n8ous4bz0/70FYfReD9RSDjfOIRLqWUR/74b142ad59a06cf16b8e35767d3f1eb0/Yopa.jpg)
Yopa offers a complete service, just like what a local Estate agent would cover. They will visit your property to give you a valuation, take pictures, draw up a floorplan, and list the property on the appropriate sales portals (such as Rightmove, ESPC etc.).

With Yopa, you can choose either a buy now, pay later scheme or the no sale no fee option. However, you're tied into a minimum of ten months of advertising with them, and you will still be forced to pay the fees if you back out of the sale. They'll also charge extra if you want a Yopa agent to manage and attend the viewings with potential buyers.

[You can read our Yopa review here](https://www.getagent.co.uk/blog/online-agents/yopa-review)

### Strike
![Strike Estate Agents](//images.ctfassets.net/us6n8ous4bz0/xnzsKdNp2Mtij9Qaop7kD/ba329f595d84219c8a86c33e0d3961f5/Strike_Estate_Agents.jpg)
Strike offers a free service option that covers an in-person valuation, photos, floorplans, a 'for sale’ sign, adverts on Rightmove and Zoopla, and support on negotiation through to completion.

Whilst this completely free service looks like a good deal, there is a catch. You will have to host viewings yourself, which could take up a lot of your time, or you can pay extra for an agent to attend. You will also need to pay additional charges if you'd like to add videos to the portal ads.

Strike also don't currently cover all areas of England, so you'll need to check if they operate in your area.

[You can read our Strike review here](https://www.getagent.co.uk/blog/online-agents/strike-agent-housesimple-review)

### eSale
![eSale](//images.ctfassets.net/us6n8ous4bz0/UglR3WbwfVEfuwKf12EoT/1fb39c64486f0151fee43fdad5eee5d5/eSale.jpg)
eSale offers a very customisable service for selling your property. You can add features and services to your basket to customise the process you'll go through.

The standard price covers the valuations, photos, floorplans and property description. However, if you want extras such as accompanied viewings, an EPC, videos on Rightmove or virtual tours, you will need to pay extra charges like you would with other providers.

eSale also doesn't offer a strictly no sale no fee service — they do ask for a small fee upfront (£99) and then a larger sum on completion of the purchase, which could work out less than other agents if you do your research.

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## Do traditional high street Estate agents offer No Sale No Fee?

Yes, many traditional high street agents offer a no sale no fee contract. Always compare agents by their performance in your local area so you know that you're getting the best deal possible with the fee you pay on completion.

[You can compare Estate agent fees and performance here](https://www.getagent.co.uk/i/compare-estate-agent-fees)

### How much are typical Estate agent fees?

Most typical high street agents [charge a standard fee of 1.5%](https://www.getagent.co.uk/estate-agent-fees), but this can range __as low as 0.75% to as high as 3%__. 

Online agents on the other hand, usually charge a flat fee rather than a percentage, ranging __from ‘Free’ to around £1500__.  However, you may end up paying more once you bundle in other services, like assisted house viewings. These services are included within the price of a high street agent, but are optional extras with [most online or hybrid agents](https://www.getagent.co.uk/blog/online-agents).

## Should I use a no sale no fee Estate agent?

As most high street agents offer no sale no fee contracts, you’d be hard-pressed not to use one - that is, unless you used an online agent, as they still offer upfront fees. Even then, most are now moving towards ‘no sale no fee’ deals due to consumer demand.

Ultimately, if you’re happy with the agent’s performance, then __yes you should use a No Sale No Fee Estate agent__. You should get the best deal possible for selling your home, and if a no sale no fee option has the best possible agent, then go for it!

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## Which is the best no sale no fee Estate agent?

Choosing the right agent depends on the property you’re selling and the performance of local agents. [Compare their metrics](https://www.getagent.co.uk/i/compare-estate-agent-fees) before checking if they offer a no sale no fee structure. Picking an agent who knows how to sell houses limits the risk that your house won’t sell, as you’ll have verified their performance before instructing them.

## Is there a way to sell without paying Estate agent fees?

Selling your home __will never be completely free__, as you'll likely need to pay for surveys or legal support at some point in the process. That said, you __could get out of paying agent fees if you find a buyer yourself__. However, this is a long and tedious process, especially if you have a full time job and little sales experience. There’s a reason why we use Estate agents to market and sell our properties for us - their value is unprecedented! You can see the [pros and cons of selling without an Estate agent in our guide](https://www.getagent.co.uk/blog/estate-agents/selling-a-house-without-an-estate-agent).

## Do I have to pay to leave a No Sale No Fee contract?

__Yes you may have to pay the Estate agent__ if you leave your no sale no fee contract. If you choose to walk away from the sale for any reason, you may have to pay the Estate agent back for the costs they have incurred so far. For example, you might pay for: 

- The marketing
- Photography
- Surveys 

Depending on how far the sale has gone. These are costs the agent will not be able to recoup now that you are choosing not to sell the property. 

You may be charged some or all of the Estate agent's commission fee depending on whether or not your contract contained a ['ready, willing and able purchaser'](https://www.getagent.co.uk/blog/estate-agents/estate-agents-contracts) clause. This would mean that you'd still owe the Estate agent their fee for finding a buyer, even though you are withdrawing from the sale.

no sale no fee calculation

What are no sale no fee estate agents, and are they the best choice for selling your home? Discover everything you need to know.

No Sale No Fee Estate Agents | Everything you need to know

No Sale No Fee Estate Agents

Buying a home can be a long and stressful process, especially if it's your first step on the property ladder. But you can ease that stress a little by receiving a mortgage agreement in principle (AIP). An AIP takes you one step closer to getting your dream property, but what is it, and how does it work? 

## What is a mortgage agreement in principle? 

A mortgage agreement in principle is an indication from a mortgage lender that they would be willing to lend you a specific amount of money for a new property. The lender will tell you how much they would be willing to offer based on the information you provide about:

* Your income
* Your spending habits
* Any existing debts or debtors you owe

An AIP is an easy way of finding out whether you can borrow the amount you need to buy a home without performing a full credit check. 

### What is the difference between a mortgage AIP and a mortgage offer?

An AIP is the amount of money a lender would let you borrow, in theory, based on the information you self-report when applying. 

However, you'll receive a mortgage offer after making a full formal application. The lender verifies your income, spending and deposit funds, and a full credit check is performed in the full application, unlike the AIP. The offer itself is an exact amount that you'd be allowed to borrow, based on your actual finances.

### Does an agreement in principle guarantee a mortgage? 

The short answer is __no__. 

Though the AIP indicates the lender's willingness to lend to you, it does not guarantee that you'll get the same amount from them on the actual mortgage offer. This is because the actual offer depends on the proof you'll provide of your exact income, which the lender will use to ensure you can afford the agreed amount. 

Your mortgage offer will also depend on the value of the property and how much you offered for it. For example, if you offered way over the asking price, your mortgage provider may not give you the full amount required as they won't deem the property 'worth' the amount you've said you'll pay.

As well as the above examples about the value of a property, many factors can change between the agreement in principle and an official mortgage offer, including;

* Market conditions
* Credit checks and any issues with your credit file
* Changes in circumstances (such as losing your job or changing roles with different salaries)
* The valuation amount of the property you want to purchase

You can ready more about [what to do if your mortgage is declined here](https://www.getagent.co.uk/blog/buying/mortgage-declined-after-getting-an-agreement-in-principle).

### How reliable is a mortgage agreement in principle?

The agreement in principle is a reliable figure to use as an estimate of how much you'll be allowed on a mortgage. If you gave accurate figures to get the AIP, the mortgage application will be much the same. You'll only run into difficulty if the income figures you used were not correct, or you cannot prove your income.

## How to get a mortgage agreement in principle

1. First research the mortgage providers that will best fit your needs and which providers have the best offers available. 
2. Then you can get an agreement in principle in person at a branch (which many high street banks offer) or online (both online providers and traditional banks have website portals you can use to get an AIP).
3. You'll be required to fill out some information about your income, spending habits and debt. 
4. The AIP application will not run a full credit check, but it is essential that you are honest with the figures. If you aren’t, you could make an offer on a house and have the mortgage declined after the full credit check.
5. You'll receive an AIP during your appointment at a branch or almost instantaneously if you're applying online.

### What do I need to get an AIP?

You will need the following for an AIP

* Proof of total income for the last 3 months
* Proof of total income or earnings over 6 months if you’re self employed
* Bank statements covering all spending and outgoings for the last 3 months
* Records/totals of any outstanding debt, loans or credit cards

Pull together your income total for the last three months so you have a detailed understanding of how much you bring in every month through your salary. If you are self-employed or your income fluctuates, you might want to take an average of your monthly income over six months, so you can show that you still have a high enough income to afford a mortgage even if it changes month to month. 

Gather your bank statements, as you'll need to fill out some information about your spending. You should know as much about your outgoings as possible, such as any regular payments you have to make, such as childcare, insurance, car finance.

You should also total up any existing debt you have, such as loans or credit cards. This information will allow the lender (or their website application) to calculate how much you can afford to pay every month toward a mortgage, on top of your existing financial responsibilities.

### How much does it cost to get an AIP?

It's free to get an AIP online or in a branch from most lenders. However, you may pay for an AIP if you use a mortgage advisor or independent consultant. 

## How long does a mortgage agreement in principle last?

A mortgage agreement in principle will usually last and stay valid for __between 60 and 90 days__. So you have a couple of months to put an offer in and have it accepted when you receive your AIP. If the AIP has expired, you may need to get another one before a lender carries out the full application, but every provider is different, so check the small print.

## Why should I get an AIP?

The main benefit of getting an AIP is that it indicates how much you can borrow from a lender. The AIP helps you understand what price range your home can fall into and be safe in the knowledge that you'll actually be able to afford it.

An AIP is especially useful in competitive areas where properties are viewed and sold very quickly. The AIP gives you more credibility in a fast-paced market because agents will see that you're in a position to move forward quickly should your offer be accepted.

## When should I get an AIP?

It can be helpful to use mortgage calculators first to figure out how much you'll likely be able to borrow. You should get an AIP when you think you're ready to start viewing properties and making offers. The AIP will last 2-3 months, so don't wait too long to get one or you might miss out on a property because you don’t have the AIP to tell you that you can afford it. That said, don't leave it too long after you get the AIP to make an offer or it could expire.

mortgage agreement in principle offer

There’s a lot of terms you’ll come across when starting the process of buying a house. So read on to discover what an agreement in principle is.

What is a mortgage agreement in principle? | How to get one

Mortgage agreement in principle explained

It's pretty common for a property owner to want to sell their home quickly. Sometimes, moving house is necessary for your job, family, or financial situation. Or perhaps you've renovated and want to sell it to start your own property portfolio.

So how soon can you sell a house after you buy it?

In this article, we'll take a look at the sort of timelines you should expect when you're selling a property.

## How soon can you sell a house after buying it?

There is no UK law regarding the legal minimum period of time you must own a home before selling it again, so __legally speaking, you can sell it as soon as you want to__.

However, if you sell and pay back your entire mortgage, your lender could hit you with hefty early repayment charges (ERC). 

Another issue you may encounter is that banks, building societies, or online lenders may refuse to finance the home. The buyer of your property may struggle to get a mortgage as the lender may see the quick turnaround as a risk. Unless your buyer intends to pay in full and in cash, selling quickly after purchasing a home could cause difficulty when finding a buyer and limit interest in the property.

To avoid the risk to lenders and limit difficulties for yourself and potential buyers, try following the 'six-month rule’.

### The six-month rule

Many mortgage lenders (but not all) will not allow a new loan to be taken out on a property until the house has been registered with the same owner on the Land Registry for six months. 

If both you and your buyer are paying in cash, you may be able to avoid this issue. Certain circumstances will persuade a lender to dismiss the six-month rule — if property investment is your business, for example. 

## Things to consider when selling a house soon after buying it

Even if you wait six months to sell, potential buyers may be naturally suspicious about why you want to sell up so soon. They may wonder if there are issues with:

* The property, such as damp or structural issues
* The area or neighbourhood, such as safety issues or crime rates
* Noisy or nuisance neighbours

If [neighbours are the issue](https://www.getagent.co.uk/blog/selling-tips/cant-sell-because-of-neighbours), you'll have to declare it on your [TA6 Property Information Form](https://www.getagent.co.uk/blog/selling-tips/ta6-form), or else you could be [subject to legal action](https://www.getagent.co.uk/blog/properties/selling-a-house-with-noisy-neighbours). Property searches will reveal damp or structural problems, so buyers will find out even if you don't want to admit that's why you're selling so soon.

## Will I lose money if I sell my house after one year?

Not necessarily - depending on the market, you could receive an offer that matches what you paid (or even more if you're lucky). 

However, depending on how you use the house, you may need to think about Capital Gains Tax. If the home was your primary residence, you would likely be exempt from this tax. But if you've bought the house to renovate or as an investment property, then you may lose money to this added tax as you're using the house as an income source. 

Find out more about [Capital Gains Tax on property here](https://www.getagent.co.uk/blog/selling-tips/capital-gains-tax). 

## How soon can you sell a house after buying it and make a profit?

This will depend on the market conditions and __could take 2-5 years__. You will need to cover not only the house price you paid, but epc charges, agent fees and legal fees before you breakeven or make a profit. You may be able to sell your home quickly if there is demand in the market, but will you make a profit? We'll look at how to understand if you've made a profit on the sale.

### What is the breakeven point?

The breakeven point is when you make enough on the sale to cover both what you owe on the property and the costs you've incurred to retain the home. For example, say you receive an offer on a home that matches what you paid for it initially. You still won't break even because you'll owe estate agent fees to sell, and you likely paid fees to solicitors to buy the home in the first place. 

So how do you calculate how much you need to get for the house to make a profit or simply break even? 

### Calculating the breakeven point for your home

First, take the total that you owe for the property. For example, say you have a mortgage of £300,000.

Then total up the costs you incurred to buy the property initially. For our example, we'll say you paid £5,000 in solicitor and search costs.

Now calculate your ownership costs, including the fees you'll pay to sell the home and any expenses you've paid to own it. In our example, we'll add £5,000 in estate agent fees to sell and another £5,000 for renovations you carried out while you owned the property.

Then add the total costs (£15,000) to what you owe (£300,000) to get the breakeven price of £315,000. If the property is not valued at this much, you may have to wait longer until the value appreciates. You might also want to accept a lower offer and forego breaking even to get a fast sale.

To find out how much your home is worth, visit our [Free Online Valuation](https://www.getagent.co.uk/online-valuation) Tool today and get an instant valuation report sent straight to your inbox.

Couple needing to sell their house soon

How long do you have to wait before you can sell a property after you buy it? Keep reading to discover the rules of quick sales in this guide.

How soon can you sell a house after buying?

How soon can you sell a house?

Buying and selling a property can be stressful and filled with many unknowns. This guide helps explain the role of a conveyancer and what you can expect out of the conveyancing process. 

## What does conveyancing mean?

Conveyancing merely refers to the legal transfer of property from one owner to another - in short, the legal process of buying a home. It begins when an offer on a house is accepted, and ends when the buyer receives the keys from the estate agents, and the [house purchase is complete](https://www.getagent.co.uk/blog/selling-tips/exchange-and-completion).

A conveyancing transaction is typically a two-phase process. It consists of:

* **Exchange of contracts**

This makes the transaction legally binding, as buyer and seller trade signed contracts, and the buyer pays the deposit.

* **Completion or settlement**

This is when the transaction is legally finalised, and the new owner gets the keys and takes full ownership of the property.

## What is a conveyancer?

Conveyancers are professionals who handle the legal bits once your offer on a property has been accepted.

These consist of an array of administrative and legal tasks, including:

* Opening a ‘purchase file’ and drawing up a draft contract. This lays out their charges and fees.
* Checking the house title and organising searches for the property.
* If you own the property outright, then the conveyancer will ask the estate agent for a memorandum, or notification, of sale. This will include the details for the solicitors of everyone in the property chain (if applicable).
* Working with the seller’s solicitors to move the transaction forward.
* Making and following up on any enquiries on the buyer’s behalf.
* Reviewing the mortgage offer and addressing any special conditions with the mortgage lender.
* Acting as a conduit back to the buyer with important information and paperwork.
* Scheduling the exchange of contracts and completion with the seller’s conveyancer. The completion date will need to be agreed to by the seller’s solicitor and other parties on the chain.
* Facilitating the exchange of contracts. After exchanging contracts, this is when the purchase becomes legally binding.
* Sending the purchase money from the buyer to the seller’s solicitor on the day of completion and agreeing which papers need to be exchanged. Completion occurs once the seller has received the money.
* Writing up a final completion statement that informs you how much outstanding balance you need to pay to the conveyancer.
* Paying the [Stamp Duty Land Tax](https://www.gov.uk/stamp-duty-land-tax) on the buyer’s behalf and sending a copy of the title deeds to the mortgage provider.
* Registering the new ownership with the [Land Registry](https://www.gov.uk/government/organisations/land-registry).
* Notifying the freeholder IF a leasehold property has been purchased.

[See our full breakdown of how conveyancing works here.](https://www.getagent.co.uk/blog/conveyancing/how-does-conveyancing-work)

## What is a conveyancing search?

Searches constitute a significant part of the conveyancing process. 

Conveyancing searches are intended to reveal any potential issues that are not immediately apparent in a public viewing or even through a property survey.

Some conveyancing searches are legally required, while others may be recommended, depending on your situation.

It is the buyer's conveyancer (or buyer's solicitor) who organises the searches in a property purchase.

Legally required conveyancing searches include:

* **Local authority searches**

This especially looks for things like planned motorways in your area.

* **Water and drainage**

These searches determine the extent to which the property is connected to public sewers and mains drainage.

* **Environmental**

The results of these searches reveal information on whether the land is contaminated or prone to a risk of flooding.

## What's the difference between a conveyancer and a solicitor?

Both conveyancers and conveyancing solicitors are qualified to assist your property transaction, though each offers slightly different services, namely:

* Solicitors (Conveyancing solicitors) are qualified lawyers who are experienced with property law. They can also offer a full range of legal services. They are regulated by the Solicitors Regulation Authority and must be accredited by the [Conveyancing Quality Scheme](https://www.lawsociety.org.uk/topics/firm-accreditations/conveyancing-quality-scheme).
* Licenced conveyancers are property specialists who can’t offer legal advice but may have deeper, though narrower, knowledge on the specifics of home-buying and selling compared to solicitors. Conveyancers must be members of the [Council for Licensed Conveyancer](https://www.clc-uk.org/)

Regardless, ensure that you protect yourself against potential legal problems after the completion of sale by choosing a regulated and insured licensed conveyancer or firm.

If you’re using a conveyancing solicitor, also make sure they belong to the [Law Society of England and Wales](https://www.lawsociety.org.uk/en), or the [Law Society of Scotland](https://www.lawscot.org.uk/).

## What does conveyancing include?

Conveyancing involves all the legal components of transferring property ownership between parties - from a seller to a buyer. It includes:

* Handling contracts
* Giving legal advice
* Carrying out local council searches
* Conducting property searches
* Dealing with the [Land Registry](https://www.gov.uk/government/organisations/land-registry)
* Transferring the money to pay for the property
* Optional and location-specific searches

## How long does conveyancing take?

Conveyancing takes between 8 and 12 weeks in most cases, though the timing and process could vary considerably depending on your circumstances. We have broken down the [full conveyancing process and timeline in this guide.](https://www.getagent.co.uk/blog/conveyancing/conveyancing-process)

## Do you need a conveyancer or solicitor to buy a house?

No, you do not need a conveyancer or solicitor to buy a house. Homebuyers are not legally obligated to obtain a solicitor or a conveyancer to conduct their conveyancing when buying a house, but it is **highly recommended** to do so.

After all, conveyancing _is_ required for property transactions and if you don’t hire a professional, you’ll need to handle the tricky legal bits by yourself. DIY conveyancing, as noted below, comes with quite a few risks.

Moreover, most mortgage lenders insist on using a solicitor or licenced conveyancer for property transactions to protect their investment.

As a result, most people favour finding their own solicitor or licenced conveyancer to oversee the conveyancing process.

## Do you need a conveyancer or solicitor to sell a house?

No, you do not need a conveyancer or solicitor in order to sell a house. As in the case of buyers, sellers are not technically required to hire a conveyancer or solicitor to conduct their conveyancing.

The DIY conveyancing option is also available to sellers but it will mean quite a bit of complicated legal work and is generally **not recommended**.

## Can you do conveyancing yourself?

Yes, you technically can do your own conveyancing, though it’s not generally recommended.

As [HM Land Registry details here](https://hmlandregistry.blog.gov.uk/2014/02/24/conveyancing-solicitor-or-diy/), DIY conveyancing poses a number of major challenges. We also have a full breakdown on [DIY conveyancing which you can read here.](https://www.getagent.co.uk/blog/conveyancing/diy-conveyancing-can-you-do-your-own-conveyancing)

For instance, using a conveyancer or solicitor can be especially helpful when handling title deeds, which consist of a trail of documents that prove a property’s ownership. Most title deeds are registered with the Land Registry. The seller will need to provide them to the buyer (or their legal representative), who must review and accept the documents.

In short, the legal and financial aspects of conveyancing usually prove too onerous for non-experts to conduct on their own.

Plus, if something goes wrong with the conveyancing, a DIY conveyancer will be unlikely to have cover. Homebuyers who hire a professional, on the other hand, will be covered by their insurance.

## Can conveyancing be done online?

Yes, conveyancing can be done online. It’s perfectly possible to conduct your conveyancing online, which will follow the same process as offline conveyancing.

The principal difference is that most of the communication and information exchange occurs over the phone, email or through a portal on a website.

Online conveyancing is often cheaper than standard conveyancing. It also usually offers convenient online case management and verification.

## How much should conveyancing cost?

The standard legal fee for conveyancing costs usually falls between £500 and £2000, plus the costs of disbursements.

However conveyancing fees vary considerably by property price, area, conveyancer or solicitor, and complexity of service.

The cost of conveyancing can be divided into two parts:

* **Legal fee**

This is what the conveyancer or solicitor charges for completing their work.

* **Conveyancing Disbursements**

These are used to pay for third-party services during the conveyancing process.

The fees for conveyancing leasehold properties tend to be a bit higher than freeholds because of the more complex legal work involved.

Common conveyancing disbursements when buying a property include:

* Anti-money laundering checks
* Searches
* Title deeds
* Transferring ownership with Land Registry
* Telegraphic or money transfer fees
* Property fraud checks
* Stamp Duty Land Tax

For more information on fees, see our guide to ['Conveyancing fees'](https://www.getagent.co.uk/blog/conveyancing/conveyancing-fees). It includes full breakdowns of conveyancing costs for both buying and selling property.

## Summary: They're the experts!

Whether you're buying a house or selling one, having an expert on hand to handle the conveyancing process is worthwhile. [Choose a reliable conveyancing solicitor](https://www.getagent.co.uk/blog/conveyancing/find-a-conveyancer) to take care of your transaction and prevent any problems from derailing it.

Someone reviewing and signing a contract on a table.

What is conveyancing?

Conveyancing refers to the legal transfer of property from one owner to another - in short, the legal process of buying a home.

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