If you’re thinking of buying or selling a property in the UK, you’ve probably come across the term “conveyancing” and wondered what it means. Conveyancing is the legal process of transferring ownership of a property from one person to another. It involves a lot of paperwork, legal checks and negotiations between the parties involved.
In this beginner’s guide, we’ll explain the key aspects of conveyancing in the UK, including the roles of the conveyancer and the solicitor, the steps involved in the process, the costs you can expect to pay, and some tips for a smooth transaction.
Table of Contents:
- What is Property Conveyancing?
- Who Handles Property Conveyancing?
- Steps Involved in Property Conveyancing
- What are the Legal Documents Involved in Property Conveyancing?
- What Searches are Conducted in Property Conveyancing?
- How Long Does Property Conveyancing Take?
- What are the Benefits of Hiring a Professional Conveyancer?
- Costs of Property Conveyancing
- Tips for a Smooth Property Conveyancing Process
- FAQ
- What is Property Conveyancing?
What is Property Conveyancing?
Property conveyancing is the legal process of transferring ownership of a property from one person to another. It involves the following key steps:
• Legal checks: The conveyancer will carry out various legal checks to ensure that the property can be sold, such as checking the title deeds, land registry, and planning permissions.
• Contracts: The conveyancer will draw up the contract for the sale or purchase of the property, which will include details such as the price, the completion date, and any conditions that need to be met.
• Negotiations: The conveyancer will negotiate with the other party’s conveyancer on any issues that arise during the process, such as the fixtures and fittings included in the sale.
• Completion: On the completion date, the conveyancer will transfer the funds and the ownership of the property to the other party.
Also See:
- What is staircasing in conveyancing?
- What is residential conveyancing?
- What is a licensed conveyancer?
- What searches do conveyancers do?
- What is an environmental search in conveyancing?
- What is a local search in conveyancing?
- What is no sale no fee conveyancing?
Who Handles Property Conveyancing?
Property conveyancing is typically handled by either a conveyancer or a solicitor. Both have the legal expertise to handle the process, but there are some differences between the two:
• Conveyancers: Conveyancers are specialists in property law and are often more affordable than solicitors. They are usually licensed by the Council for Licensed Conveyancers, although some are also qualified solicitors.
• Solicitors: Solicitors are qualified lawyers who can handle a wide range of legal matters, including property conveyancing. They are regulated by the Solicitors Regulation Authority (SRA) and often work in larger law firms.
It’s worth noting that in Scotland, property conveyancing is typically handled by solicitors.
Steps Involved in Property Conveyancing
The process of conveyancing can be divided into the following key steps:
Step 1: Instruction
Once you have found a property you want to buy or sell, you will need to instruct a conveyancer or solicitor to handle the process for you. You should ask for a quote for their services, including any disbursements (third-party costs, such as searches and land registry fees), and check what services are included in the price.
Also See:
- What is a draft contract?
- What are conveyancing deeds?
- What is the difference between sale deed and conveyance deed?
- How long are conveyancing searches valid?
- What’s the difference between leasehold and freehold?
- What is DIY conveyancing?
Step 2: Checks
The conveyancer will carry out various checks to ensure that the property can be sold or bought, including:
• Local searches: These searches will reveal any planning permission, building regulations, or environmental issues affecting the property.
• Land registry: The conveyancer will check the ownership of the property and any restrictions or charges affecting it.
• Title deeds: The conveyancer will check the legal ownership of the property and whether there are any covenants, easements, or other restrictions affecting it.
Step 3: Contracts
Once the checks have been completed, the conveyancer will draw up the contract for the sale or purchase of the property. This will include details such as the price, the completion date, and any conditions
Step 4: Exchange
Once both parties have agreed to the terms of the contract, the conveyancers will exchange contracts. This means that both parties are legally bound to complete the transaction on the agreed completion date, and a deposit is usually paid.
Step 5: Completion
On the completion date, the conveyancer will transfer the funds and the ownership of the property to the other party. The seller will need to vacate the property and hand over the keys, while the buyer will need to arrange for the property to be insured and registered with the Land Registry.
Step 6: Post-Completion
After completion, the conveyancer will deal with any post-completion matters, such as paying Stamp Duty Land Tax and registering the transfer of ownership with the Land Registry.
What are the Legal Documents Involved in Property Conveyancing?
Property conveyancing involves several legal documents that need to be prepared and signed by both the buyer and the seller. Some of the legal documents involved in property conveyancing are:
- Contract for Sale: This is the most important legal document in property conveyancing. It includes all the terms and conditions of the sale, such as the purchase price, deposit, completion date, and any special conditions.
- Transfer Deed: This is the legal document that transfers the ownership of the property from the seller to the buyer.
- Mortgage Deed: This is the legal document that outlines the terms and conditions of the mortgage, including the interest rate, repayment terms, and any charges or penalties.
- Land Registry Forms: These forms are used to register the transfer of ownership with the Land Registry.
Also See:
- What are the stages of buying a house?
- Conveyancing process for buyers
- What do solicitors need when buying a house?
- Conveyancing process for sellers
- Transfer of equity: Home conveyancing guide
- Documents required for conveyance deed
- What is a home buyer report? Level 2 survey
What Searches are Conducted in Property Conveyancing?
One of the essential steps in property conveyancing is conducting searches to ensure that the property is free from any legal or financial issues. Some of the searches conducted in property conveyancing are:
- Local Authority Search: This search reveals any planning restrictions, environmental issues, or other local authority issues that may affect the property.
- Drainage and Water Search: This search reveals the location of the water supply and drainage systems and any potential issues.
- Environmental Search: This search reveals any potential environmental issues, such as contamination or flood risk.
- Chancel Repair Search: This search reveals whether the property is liable for any repairs to the local church.
- Land Registry Search: This search confirms the legal ownership of the property and any mortgages or charges registered against it.
Also See:
How Long Does Property Conveyancing Take?
The time taken for conveyancing depends on several factors, such as the complexity of the transaction, the number of parties involved, and any legal or financial issues that need to be resolved. On average, property conveyancing takes around 8-12 weeks, but it can take longer in some cases.
It is important to have realistic expectations regarding the timeline for property conveyancing and to be prepared for any delays or issues that may arise during the process.
Also See:
- How long does conveyancing take?
- How to speed up conveyancing?
- What conveyancing solicitors do?
- How long does conveyancing take after a mortgage?
- How long does conveyancing take with no chain?
- Is 3 weeks sufficient for conveyancing?
- Frequently asked conveyancing questions
What are the Benefits of Hiring a Professional Conveyancer?
Hiring a professional conveyancer has several benefits, such as:
- Expertise: A professional conveyancer has the expertise and knowledge to handle property conveyancing, ensuring that the transfer of ownership is legal and binding.
- Time-Saving: Property conveyancing is a complex and time-consuming process, and hiring a conveyancer can save time and effort.
- Peace of Mind: Hiring a conveyancer provides peace of mind, knowing that the transfer of ownership is being handled by a professional.
- Legal Protection: A conveyancer can provide legal protection in case of any legal or financial issues that may arise during the conveyancing process.
Also See:
- Top property conveyancers in York, UK
- Conveyancing solicitors in Southampton
- Property conveyancers in Plymouth
- Conveyancing solicitor services in Peterborough
- Conveyancing lawyers in Leicester, UK
Costs of Property Conveyancing
The costs of conveyancing can vary depending on several factors, such as the value of the property, the complexity of the transaction, and the location of the property. The main costs involved are:
• Conveyancing fees: This is the fee charged by the conveyancer or solicitor for handling the process. It can range from a few hundred pounds to over £1,000, depending on the provider and the complexity of the transaction.
• Disbursements: These are third-party costs, such as local searches, land registry fees, and Stamp Duty Land Tax. They can add several hundred pounds to the overall cost.
• VAT: Conveyancing fees and some disbursements are subject to VAT at the standard rate of 20%.
It’s important to get a quote for the full cost of conveyancing before instructing a conveyancer or solicitor, to avoid any unexpected charges.
Also See:
- What is the cost of conveyancing in the UK?
- What is a conveyancing quote?
- Complete guide to conveyancing costs
- Get the best conveyancing quote estimate
- Can I request a free online conveyancing quote?
- What should a conveyancing quote include?
Tips for a Smooth Property Conveyancing Process
Here are some tips for a smooth conveyancing process:
• Choose the right conveyancer or solicitor: Look for a conveyancer or solicitor with experience in property conveyancing and good reviews from previous clients. Ask for a fixed fee quote and check what services are included.
• Be organised: Make sure you have all the necessary documents and information ready, such as your ID, mortgage offer, and proof of funds. Respond promptly to any requests from your conveyancer or solicitor.
• Be realistic about timescales: Property conveyancing can take several weeks or even months, depending on the complexity of the transaction and the parties involved. Don’t set unrealistic deadlines and be prepared for delays.
• Be open and communicative: Keep your conveyancer or solicitor informed of any issues or concerns you have, and respond promptly to any queries or requests for information. Good communication is key to a smooth transaction.
• Stay calm: Property conveyancing can be a stressful process, but try to stay calm and focused. Remember that your conveyancer or solicitor is there to guide you through the process and answer any questions you have.
In conclusion, property conveyancing is a complex legal process that involves a lot of paperwork, legal checks, and negotiations. Choosing the right conveyancer or solicitor and being organised and communicative can help ensure a smooth and stress-free transaction. It’s important to understand the costs involved and be realistic about timescales. If you have any questions or concerns about property conveyancing, don’t hesitate to contact a professional for advice.
Property Conveyancing FAQs
Q: What is the difference between a conveyancer and a solicitor?
A: Conveyancers are specialists in property law and are often more affordable than solicitors. They are usually licensed by the Council for Licensed Conveyancers, although some are also qualified solicitors. Solicitors are qualified lawyers who can handle a wide range of legal matters, including property conveyancing.
Q: How long does conveyancing take?
A: Property conveyancing can take several weeks or even months, depending on the complexity of the transaction and the parties involved.
Q: What are the main costs of conveyancing?
A: The main costs of property conveyancing are conveyancing fees, disbursements (third-party costs), and VAT.
Q: Can I do property conveyancing myself?
A: It is possible to do property conveyancing yourself, but it is not recommended unless you have legal expertise and experience in property law. The process can be complex and involves legal checks and negotiations, so it’s best to leave it to a professional.
Q: Do I need a survey before buying a property?
A: It is recommended to have a survey carried out before buying a property, especially if it’s an older property or if there are any concerns about its condition. A survey can reveal any structural issues or defects that could be costly to repair.
Q: Do I need a solicitor or conveyancer to sell a property?
A: It is not a legal requirement to use a solicitor or conveyancer to sell a property, but it is recommended to ensure a smooth and legally compliant transaction.
Q: What happens if there are issues with the property after completion?
A: If there are issues with the property after completion, you should contact your conveyancer or solicitor immediately. They can advise you on the next steps, such as negotiating with the other party or making a claim against them.
Q. What is the role of a conveyancer in conveyancing?
A. A conveyancer is responsible for preparing legal documents, conducting searches, and ensuring that the transfer of ownership is legal and binding in property conveyancing.
Q. Can I do conveyancing on my own?
A. It is possible to do property conveyancing on your own, but it is not recommended as it is a complex and time-consuming process that requires legal expertise.
Q. What searches are conducted in conveyancing?
A. The searches conducted in property conveyancing include local authority search, drainage and water search, environmental search, chancel repair search, and land registry search.
Q. What is the purpose of a local authority search in conveyancing?
A. The purpose of a local authority search is to reveal any planning restrictions, environmental issues, or other local authority issues that may affect the property.
Q. What is the purpose of a land registry search in conveyancing?
A. The purpose of a land registry search is to confirm the legal ownership of the property and any mortgages or charges registered against it.
Q. What is the purpose of stamp duty land tax (SDLT) in conveyancing?
A. The purpose of stamp duty land tax (SDLT) is to tax property transactions, and the amount depends on the purchase price of the property.
Q. What is the purpose of a transfer deed in conveyancing?
A. The purpose of a transfer deed is to transfer the ownership of the property from the seller to the buyer in property conveyancing.
Q. What is the purpose of a mortgage deed in conveyancing?
A. The purpose of a mortgage deed is to outline the terms and conditions of the mortgage, including the interest rate, repayment terms, and any charges or penalties.
Q. What is the purpose of land registry forms in conveyancing?
A. The purpose of land registry forms is to register the transfer of ownership with the Land Registry in property conveyancing.
