If you’re buying or selling a house, you’ll require a conveyancing solicitor. We have pulled together this helpful conveyancing guide with all the hints and tips you’ll need to understand the conveyancing process in the UK.
For anyone who’s planning on moving house, conveyancing is by far one of the most complicated and confusing parts of the house-moving process. Here at SlothMove, we’re all too aware of how tricky it can be to get your head around conveyancing. That’s why we’ve compiled all our conveyancing advice into this beginners guide to conveyancing.
This in-depth conveyancing guide will help you enjoy a super-smooth and cost-effective conveyancing process, with tips on what a conveyancer is, what they do, the conveyancing steps, conveyancing costs and much more.
Whether you’re a first time buyer or an experienced home-owner, you’re sure to benefit from this up-to-date, practical guide to conveyancing as we answer all your essential questions.
So, what are you waiting for? Read on to get the lowdown on the entire conveyancing process.
Conveyancing is the umbrella term that encompasses all of the legal and administrative work associated with buying a house. It covers the notoriously complicated process of transferring ownership of a property from one party to another.
The conveyancing process is undertaken by property solicitors, or conveyancers. Conveyancers receive instruction once an offer has been made and accepted on a property. Following the successful offer, the property solicitors representing the seller and buyer will exchange details and begin the conveyancing process.
Anyone considering remortgaging their property will also need to choose a conveyancer to complete the legal side of the house-buying process.
Almost always, the conveyancing process is completed by property solicitors working on behalf of the buyer and seller. Any solicitor in England and Wales has to be registered under the Law Society and must be regulated by the Solicitors Regulation Authority (SRA).
In more recent years, conveyancers have become especially popular for managing the legalities of moving house. These specialist solicitors are licensed and regulated by the Council for Licensed Conveyancers (CLC).
While it is strongly advised that you use a conveyancer when moving home, homeowners are legally able to undertake conveyancing themselves. However, you should beware that the conveyancing process can be very complicated and pretty time consuming.
We would advise opting for a conveyancer to handle your house move as their specialist legal knowledge may be required to overcome some more complex cases. This is especially important if problems arise with your house transaction – which isn’t unlikely.
In addition, mortgage lenders are extremely keen to protect their investments and will often insist that you use a professional conveyancing service. This is to avoid the risk of the process falling through.
The entire conveyancing process, on average, takes between 8 and 12 weeks. It is a fairly long, complex process with many steps involved. Here are the steps of conveyancing:
The first step in the conveyancing process is instructing a conveyancing solicitor to help you sell or buy a house. This means that when you secure a buyer, they will be able to start the next step immediately.
The next task for the seller’s solicitors is to obtain the certificate of ownership (title deeds), along with a lot of other information. Once they’ve got all the required details, they will prepare a contract for the sale of the property and will send it to the buyer’s solicitors.
Meanwhile, the buyer’s solicitors will arrange conveyancing searches to ensure there are no adverse matters that the buyer should be aware of before making a commitment to purchase the property.
Then, the buyer will apply for a mortgage and the mortgage lender will carry out a valuation of the property to ensure it’s worth the agreed sum. There are different types of house survey, such as a Home Buyer’s Survey or a more detailed Building Survey.
As soon as the buyers’ conveyancers have received all the paperwork from the sellers’ solicitors, along with the search results and the buyers’ mortgage offer, they will send the buyers a written report to fully advise them about the property and discuss a number of issues, including:
When the buyers’ and sellers’ conveyancers are satisfied that everything is in order, they will arrange the exchange of contracts. This is when you will agree on a moving date and insert it into the final contract.
On completion day, the buyers’ conveyancers will transfer the funds to the seller’s conveyancers. In return, the buyer’s conveyancers will receive the legal transfer document, along with all the other relevant documentation for the property.
Once the sellers have received the money for the property, they will authorise their estate agents to hand over the keys to the buyers.
This is a rough guide to the conveyancing stages, but the process does not always run that smoothly. It is possible that you might experience a few delays and problems along the way e.g. planning permission, survey problems and unclear search results.
No conveyancing guide would be complete without some discussion of how much conveyancing costs.
The simple answer to ‘how much does conveyancing cost?’ is between £330 to £1050. That’s quite a wide range, we know.
However, conveyancing fees do vary widely depending on a number of factors, such as:
So, what’s included in these conveyancing fees?
Well, a conveyancing quote tends to be made up of two distinct costs:
Congratulations! Now you should be an expert in all things conveyancing.
In this comprehensive conveyancing guide we’ve touched on everything there is to know about the conveyancing process.
What is conveyancing? Who undertakes the conveyancing process? What’s included in conveyancing? How much does conveyancing cost? After reading our beginners guide to conveyancing, you should have all the answers.
If you still require a little more information, though, just take a look at our handy conveyancing FAQs below.
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