Residential Conveyancing

The property market is constantly evolving and so are our clients’ needs. We are at the forefront of adapting with the times and meeting the challenges our clients face. We provide a specialist residential conveyancing service for freehold and leasehold properties in London and throughout England and Wales.

Our expert property solicitors can help you with any of the following:

• New build projects
• Tenancy agreements
• Transfer of property equity
• Auction sales

We deliver expert tailored advice and guidance whether you are buying or selling property on your own, with your spouse, partner, family member or business associate, and whether your property is new or old, registered or unregistered.

First time buyers coming to us can be assured of the support they need throughout their transaction. We spend time explaining all aspects of the purchase and the implications of property ownership. We advise not only on the technical aspects of the conveyancing process but also on ancillary matters such as ownership interests, mortgages, surveys and lease extensions.

What is residential conveyancing?

Residential conveyancing is the legal and administrative process of transferring land or property from one person to another. In the UK, Solicitors use the Law Society Conveyancing Protocol and the framework is used as the ‘preferred practice’ for buying and selling properties. We are fully Accredited Members of the Law Society Conveyancing Quality Scheme.

Estate agents

Many sellers use an estate agent who will value the property and put it on the market. The agent facilitates the physical showing of the property, takes any offers made by potential buyers and presents them to the seller to accept or reject.

Solicitor

A solicitor becomes involved when an offer has been made by a potential buyer and accepted by the seller. Both parties will each instruct their own independent solicitor so there is no conflict of interest.

Initial enquiries

Once instructed, each solicitor will send their new client a client care letter explaining the process and the costs involved, including stamp duty, Local Authority and Land Registry Charges etc. First time buyers generally do not have to pay stamp duty depending on the purchase price. The solicitor will liaise with the estate agent and mortgage lender and ensure that the purchase is registered with the Land Registry following completion.

The seller’s solicitor will request a copy of the Title Deeds from H.M Land Registry or from the seller who may have them at home or at their bank or building society. The solicitor will also enclose a property information form to complete which asks questions about the property, disputes with neighbours, boundary and access issues, planning permission/building consent and any neighbouring proposed/planned development. The seller should also identify the fixtures and fittings to be included in the sale.

The buyer’s solicitor will ask about finances and how a buyer will be raising the money to pay for a purchase and will have checks in place to ensure that money laundering does not occur. They will liaise with the buyer’s mortgage lender to confirm that the funds will be available to purchase the property. The buyer must have the deposit monies (usually 10%) ready before exchange of contracts which is paid to their solicitor’s client account and transferred to the seller’s solicitor upon exchange of contracts. The balance of the purchase price and all associated costs is paid upon completion.

Property searches

The buyer’s solicitor will undertake property searches to flag any areas of concern. The usual searches are of the title, local authority, mining, utilities, environmental, chancel, etc.

Surveys of the Property are instructed by the Buyer and include a valuation report which is the cheapest option and may indicate any issues but nothing in detail. A homebuyers report/survey costs much more and will provide more detail depending on what is agreed. A full building survey by a RICS surveyor is recommended, especially on older properties. This will give a full, detailed report on the structure of the property. This will also give the buyer peace of mind that they are making a good investment or show any issues that may prove too costly to move forward with the purchase.

Both parties will negotiate any issues arising from the searches, fixtures and fittings and the surveys, with the aim of reaching an agreement.

Exchange of contracts

Once the initial stage is complete, the seller’s solicitor will provide the contract for sale and send it to the buyer’s solicitor to check and arrange for the buyer to sign. The contract will include dates for completion which is usually a few weeks after exchange of contracts (usually to 28 days) but could be sooner or later than that, depending on the circumstances and what is agreed.

The buyer must ensure that they have buildings insurance cover for the property in place before exchange of contracts, usually the mortgage provider will insure the property.

On the day of exchange each solicitor will usually arrange a telephone call during which they each confirm the terms of the contracts to check they are the same and then post the signed contract to each other in accordance with agreed Law Society Protocol.

The parties are then legally bound to fulfil the contract and with the sale/purchase. If a party pulls out after exchange of contracts, they can be sued by the other party.

Completion

On completion day the monies are transferred from the buyer to the seller’s solicitor at an agreed time and the keys exchanged. The seller should vacate the property by the completion date unless otherwise agreed. Both solicitors send their clients a final letter regarding completion and any outstanding client care matters regarding funds, etc.

Getting started

If you would like to instruct us to act for your sale or purchase, we will initially need the following information:

• Your full name and address and contact point including telephone numbers and email addresses.
• Details of the proposed transaction, including property address, price, and mortgage lender (if any).
• Details of the name and address of the seller or purchaser or estate agents involved, (if there are agents) or alternatively details of the solicitor acting for the other party in the transaction.

After receiving your information, we will send you electronically, or otherwise, a quote for our fees and disbursements followed by a letter of engagement setting out our terms of business and forms for you to complete.

If you wish to instruct us, please use our online form or email the above information to [email protected] and we will respond with a quote.