Conveyancing

You're buying a house and you've been told to get your conveyancing in order. What on earth is that? If like me you originally thought it was something to do with construction, you'd be wrong. Don't worry, in this insight, we will cover all you need to know and answer the question, what is conveyancing?

Key Takeaways

• Conveyancing is the legal work that is required when buying or selling a house in the UK.
• Your Mortgage adviser can help you appoint a conveyancer.
• Conveyancing can often take a few weeks to a couple of months to complete.
• Conveyancing will ensure there are no legal issues that you will encounter when buying or selling, for example any fire hazard ratings.

What is Conveyancing?

Conveyancing is the legal process of transferring a property's ownership from one person to another. It involves handling money, preparing and signing legal documents, and transferring title of the property.

Typically, a qualified conveyancer or a solicitor handles conveyancing. Conveyancing is required in the following scenarios:

• When purchasing or selling a property.
• Transferring property ownership.
• Changing the legal ownership or title of a property. 

What are the costs of conveyancing?

The cost of conveyancing varies depending on factors such as the location of the property, the complexity of the transaction, and the amount of work involved. On average, conveyancing fees range from £500 to £1,500 for a typical property sale or purchase. Additional costs, such as stamp duty, land registry fees, and search fees, may also apply.

It is recommended to obtain quotes from several conveyancers to compare prices and services offered.

What are conveyancing disbursements?

Conveyancing disbursements are the costs and expenses incurred by a conveyancer on behalf of the client during the conveyancing process. These costs may include search fees, stamp duty, registration fees, and other legal costs associated with the transfer of property. Examples of the searches when buying a house to pay for include:

• Carrying out Title/Land registration checks. - To ensure the sellers are the actual legal owners of the property they are selling.
• Arrangement of funds. - Sending funds to the seller's conveyancer.
• Environment searches. - Checks to ensure there is no ground contamination.
• Water & Drainage search. - A check to ensures the property is connected to clean water and drainage systems.
• Local authority searches. - Searches to protect you from council plans after you move in. For example, plans to bulldoze and build a motorway.
• Mortgage Redemptions. - Settling the existing Mortgage account if this is required.
• Payment of Stamp duty to HMRC.
• Chancel Search - A chancel search is carried out to check if there are any liabilities for repairs on the local church.
• Flood Risk Search - The flood risk search assesses the area for its risk to the liability of flooding.

How long does conveyancing require?

Conveyancing might take a few weeks to many months, depending on the circumstances,

Factors such as the complexity of the transaction, the availability of all parties, and any potential legal concerns all play a role in determining the precise timing. To guarantee a quick and easy process, it's critical that both the buyer and the seller cooperate closely with their conveyancer.

How do you appoint a conveyancer?

Research and compare conveyancers in your area to find one with a good reputation and experience in the type of property transaction you are dealing with. Your Mortgage adviser will typically have a list of conveyancers they work with whom they could appoint on your behalf.

Allow your Mortgage Adviser to contact the conveyancer to discuss your needs and ask any questions you may have about their services and fees.

Request a quote for their services and compare it to other quotes to ensure you are getting a fair price.

Once you have chosen a conveyancer, sign a contract with them outlining the services they will provide and the fees they will charge.

Communicate with your conveyancer throughout the process and provide them with any necessary documents or information to ensure a smooth and successful transaction.

Can a Mortgage adviser find me a conveyancer?

Yes, the best way to determine a comparison for the cost of conveyancing services is to speak to your Mortgage adviser who can quote your conveyancing work directly from their panel. This will allow you to take advantage of the tools available, whilst finding competitively priced conveyancers.

Does location matter when choosing a conveyancer?

Location can matter when finding a conveyancer, but it is not required, and often cost savings can outweigh the benefit of going local.

A conveyancer who is located in the same area as the property being bought or sold may have a better understanding of the local property market and any potential issues that may arise. Additionally, if there are any issues or disputes during the conveyancing process, it may be easier for the conveyancer to resolve them if they are located nearby.

However, with the advancements of technology, it is no longer essential to have a local conveyancer, ultimately the same checks are carried out regardless of location and by appointing a solicitor who is not local you may yourself saving money.

Do you need a conveyancer to remortgage?

If you choose to move your mortgage to another provider, you will need to arrange conveyancing work. The conveyancer will handle the transfer of legal Charges and ensure that all necessary documents and paperwork are in order for the remortgage to be completed. The cost of conveyancing during a Remortgage is often covered by your new lender, however, service levels may vary.

If you have specific requirements or additional needs, such as transferring equity, you may decide it best to appoint your own conveyancer. If you appoint your own, you can agree on upfront costs, what work is required and the time frames achievable

Are solicitors cheaper than conveyancers?

It is difficult to say whether conveyancers are generally cheaper than solicitors, as the cost of legal services can vary depending on several factors, such as the complexity of the matter being handled and the location of the solicitor or conveyancer. In general, conveyancers may be more affordable than solicitors because they typically specialise in a specific area of law, such as property law, whereas solicitors are trained to handle a wider range of legal matters. This specialisation allows conveyancers to be more efficient and cost-effective in their work.

When do you need to have your conveyancer ready?

A conveyancer should be ready as soon as you have an offer on a property accepted and are ready to proceed. Your conveyancer will be needed to handle the legal aspects of the transaction, including reviewing, and negotiating the contract, conducting title searches, and preparing legal documents. It is important to have a conveyancer in place before signing any contracts or making any offers on a property.

If you are looking for advice around appointing a conveyancer, you can talk to a Mortgage adviser who will be able to provide you options from a panel of conveyancers. To get started, complete the Sunny Fact Find. The answers you provide us are used to find the most suitable adviser for you. An adviser will then contact you for a no obligation conversation on how they can help and you can decide how to proceed.

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