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| Buying property

Buying a property is an exciting process, but it can potentially be stressful if not expertly handled. Our conveyancers always work to deal quickly and efficiently with any complications that may arise and will make sure that you have the guidance and support you need.

The main steps in the conveyancing process are as follows:

Arranging a mortgage

It is always recommended that you ask your chosen lender for a mortgage offer in principle. You should do this before you start looking at properties so that you can tell estate agents that you have taken steps to arrange finance. This will be a point in your favour should there be competition for the property that you want to buy.

The lender will let you know how much they are likely to lend you, and you can check what financial information they will need from you when you submit your full mortgage application and make sure that you have this ready.

Instructing conveyancers

You can also instruct a conveyancing solicitor early on. If you would like us to deal with your purchase, give us a ring and we will get things moving. We will let you have the initial documents to complete, verify your identity and open a file so that we are ready to start work as soon as we receive the contract papers from the seller’s solicitor.

Ordering a survey

It is always advisable to have a survey carried out when you buy a property. This could be a homebuyer’s report or a more in-depth structural survey, depending on the property you are buying. A surveyor will be able to give you guidance as to which type of survey is appropriate.

Should any problems be revealed, you have the choice of asking the seller for an allowance against the purchase price to cover the cost of the works. They may be open to this because if you do not go ahead, any future buyer is likely to discover the issue when they have their survey carried out.

Searches and enquiries

The main stage in the conveyancing process will take place once we receive the contract papers from the seller’s solicitor. This will include copies of documents relating to the property and the legal title, as well as property information forms. We will go through these in detail and return to the seller’s solicitors with a list of enquiries. We will also apply for the necessary searches, which will generally include a local search and a drainage search.

Once we have all of the information we need, we will report to you on the property, drawing your attention to anything unusual.

We will also check that you are happy with the terms and conditions of your mortgage offer, and you can then sign the contract and the mortgage deed. We will need a deposit from you, usually 10% of the purchase price, and we will then be in a position to exchange contracts.

Exchange of contracts and completion

On exchange, the completion date becomes legally binding. We will order your mortgage advance and make the final preparations for completion. If you are tying in a sale, we will make sure that you have the financial statements you need showing how much we will require from you to complete.

On the day of completion, we will let you know as soon as the seller’s solicitors confirm receipt of the balance of purchase money. You can then pick the keys up from the estate agent once they are available.

Following completion, we will arrange for registration of your purchase and your mortgage at the Land Registry.

| Selling property

It is often important to move a sale along quickly, particularly if you are tying in a purchase. We always work proactively to ensure that we reach exchange of contracts without avoidable delays.

You can instruct us as soon as you market your property so that we can carry out the preliminary work in advance of you finding a buyer. This will allow us to send the contract and accompanying documents to your buyer’s solicitor as soon as we have their details from the estate agent.

We will start by opening a file, verifying your identity and sending you the initial forms for completion. We offer a conveyancing app that can streamline the administration process and that you can use if you choose.

Once we have a redemption statement from your lender, we will let you have a copy so that you can see how much they will need to discharge your mortgage. In particular, you will be able to check to see what administration fees or redemption charges they are including so that you can budget for any related purchase.

We will work to provide all of the information needed by your buyer’s solicitor promptly and liaise with you over dates once they are ready to exchange contracts. Once the exchange has taken place, the completion date is legally binding.

On the day of completion, you should leave the keys with the estate agent once you have cleared the property and we will let both you and the agent know once we have the money from your buyer. We will also redeem your mortgage.

| Transferring property

If you are transferring property either into or out of joint names, you should speak to a conveyancing solicitor before doing so. It is important to protect your rights and make sure that your share in a property cannot be lost in the future.

We can advise you on the two different types of joint ownership and work with you to establish the right option for your circumstances.

We will also deal with any other related matters, such as a remortgage or putting a Will in place.

| Remortgaging property

When you remortgage, you will need a solicitor to represent you and the lender unless you intend to stay with your existing lender. A new lender will want due diligence work carried out to establish that the property has a sound legal title and that there is nothing in the property details or relevant searches of concern.

We are authorised to represent all major high street lenders, meaning we can act for them and for you in a remortgage.

We know that you will probably want to switch to your new deal without delay and we always move quickly on remortgages so that you can benefit from the better rates as soon as possible.

| Equity release

Equity release policies can be onerous and you must take independent legal advice before you sign one. You will receive a lump sum which will ultimately be repaid when your property is sold. Along with repayment of the capital, the equity release company will also take other expenses, such as its fees, interest and redemption charges.

We can advise you on the implications of signing an equity release policy and make sure that you understand the terms and conditions to which you are agreeing.

For more information about our services, see our residential conveyancing solicitors page.