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CONVEYANCING

WHAT IS CONVEYANCING AND WHY DO I NEED A SOLICITOR?

 

Conveyancing is the process of transferring legal ownership of a property from one person to another. Solicitors are there to help protect your interests and to ensure you are meeting and understanding any legal obligations you may be under. Most of our work consists of Residential Conveyancing, but it is not unusual for us to be instructed on Commercial Property matters too.

We are here to help you with buying or selling a house, but we also have the expertise to be instructed on many other property matters such as Equity Release, Purchase of Freehold Titles, Transfers of Equity and

Re-Mortgaging work to name a few. 

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CONVEYANCING QUALITY STANDARD (“CQS”) 

As we are a CQS accredited firm we agree to the Law Society conveyancing protocol. 

The Law Society Conveyancing Protocol is a set of steps Solicitors follow when acting in the sale and/or purchase of a home for an owner-occupier.

The protocol can be used in residential transactions of Freehold and Leasehold property. The protocol is not designed to be used in the purchase of new build homes.

 

Using the protocol helps to:

  • standardise the residential conveyancing process

  • make conveyancing more transparent and efficient

  • improve the experience for solicitors, lenders and clients.

 

The protocol is not a checklist and its steps are not exhaustive. We can complete the steps in a different order or simultaneously.

The protocol assumes that:

  • the buyer and seller both have mortgage lenders

  • the solicitor acts for the lender as well as the client

 

The protocol is published on line and can be downloaded at https://www.lawsociety.org.uk/topics/property/conveyancing-protocol

 

As far as timescales are concerned, it is very difficult to provide a realistic estimate, as it is dependent on so many variables.  By way of a guide, it is common for matters with small to no chains to complete within 6 weeks.  If you are part of a chain then it can take 12 weeks or more.  We will provide you with updates throughout the transactions as to where your matter is and where the other parties  in the transaction are.   We also recommend you keep in touch with your estate agent as they can contact the various solicitors in the chain and obtain updates on where everyone is. 

 

SUMMARY OF A HOUSE PURCHASE  (We do not act in the purchase of flats)

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, byway of summary, we have set out below a broad outline of the work we will undertake on your behalf when purchasing a house:

  • Take your instructions and give you initial advice

  • Once we have been instructed by you signing and returning our client care letter, we will check your finances.  This includes establishing and being provided with evidence of your source of funds (not just evidence of where the funds currently are).

  • Carry out an electronic identification check on each buyer and also anyone else who is contributing financially to the purchase. 

  • Providing you with a copy of the protocol forms (Property Information Form and Fixtures and Fitting form and Leasehold Information Form if applicable) completed by the seller together with the Land Registry’s boundary plan of the property. We do this once we have received the Contract pack from the seller's solicitors.

  • Carry out standard searches.  These are to obtain information from the drainage and water provider, the coal authority, an environmental search and also from the local authority on items like whether the road is adopted and if there are any planning permissions for the property.  The first three searches usually come back within 2 days.  The local authority search result can take approximately 2 weeks.  Our searches, do appear to come back much quicker than other solicitors who carry out  personal searches via a third party agent. We do this once the plan has been approved by you.

  • Check the title of the property.  We do this once we have received the Contract pack from the seller's solicitors.  

  • Raise preliminary enquiries of the seller.  We raise these once we have received the Contract pack from the seller's solicitors.  We will provide you with a copy of these enquiries so that you can follow the progress of the matter. If you have your own legal enquiries you wish to raise, then we can also send them to the seller’s solicitors. We are restricted as to what enquiries we can raise as the information should have already been answered by the seller when completing the Property Information Form which forms part of the Contract pack.  Any questions relating to the state and condition of the property must be addressed to your surveyor rather than via legal enquiries. 

  • Summarise the information obtained about the property and report to you on it. We send this by email to you once we have carried out the title check and received the search results back.  

  • Check the mortgage offer shows the correct purchase price, your names and address once we receive this from your lender.  This often comes via our online portal and can reach us at the same time as you receive your copy. We will then go through the conditions of mortgage offer with you.  We do not advise on the specific details of your chosen mortgage; this information should be provided by your broker or lender.

  • Prepare the document to transfer ownership to you and prepare the mortgage (if any);

  • Ask you to attend our office to sign the contract, transfer deed and mortgage deed ( as appropriate).

  • Draft the completion statement setting out the funds we need from you in order to complete and ask you to send this to us so that contracts can be exchanged;

  • Carry out the final searches with the Land Registry.  These are to ensure the register is frozen and also to ensure you are not bankrupt.  

  • Exchange Contracts so that the transaction becomes legally binding.

  • Organise the funds from the lender (if applicable).  This usually takes 5 working’ days. We will ask for the monies to arrive the day before completion;

  • Complete the transaction. On completion, we send the purchase money to the seller’s solicitors in return for the Deeds and signed transfer document. At that point you will be entitled to occupy the property and take possession of the keys. i.e. MOVING DAY!

  • Serve notice on the Freeholder (if applicable) 

  • After completion, we complete an Stamp Duty Land Tax return and send it to HMRC for its details to be entered in their records and any necessary Stamp Duty Land Tax to be paid.  The amount This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC's website or if the property is located in Wales by using the Welsh Revenue Authority's website.

  • When HMRC return the document we then deliver it to the Land Registry with an application to register title;

  • On return of the title document from the Land Registry  we lodge it with the mortgage lenders (if applicable) and send you a copy of the register confirming your ownership 

  • Limitations: We do not provide any tax advice. 

 

Our fees cover the foreseeable work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

The fees will cover both the legal fees charged by us and disbursements. Disbursements are costs related to your matter that are payable to third parties which we handle the payment of  on your behalf to ensure a smoother process.

Below is a summary of the standard costs that are chargeable in each matter.  Depending on the type of matter, however, additional fees and disbursement may be chargeable.  Please refer to the Fees section for various examples and the current amounts chargeable.

Conveyancer's fees 

  • Legal fees 

  • Electronic money transfer fee 

  • Electronic Identification fee 

  • VAT at 20% 

 

Disbursements

  • Search fees 

  • HM Land Registry fees

  • Stamp Duty Land Tax

 

SUMMARY OF HOUSE SALE

By way of summary, we have set out below a broad outline of the work we will undertake on your behalf when selling a house:

  • Take your instructions and give you initial advice

  • Once we have been instructed by you signing and returning our client care letter, we will carry out an electronic identification check on each seller 

  • Providing you with the protocol forms (Property Information Form and Fixtures and Fitting form and Leasehold Information Form if applicable) you need to complete and return to us before we can draft the Contract pack.  We will also require all documentation you hold relating to planning permissions, building regulations, services, warranties and original title deeds;

  • Checking the title of the property you are selling;

  • Preparing the documents and the sale contract and sending them to your buyer's solicitors.  This is called the Contract pack and the buyer’s solicitors needs this before they can start working on the matter;

  • Dealing with questions and enquiries raised by your buyer’s Solicitors;

  • Providing updates on the buyer's progress

  • Obtaining a redemption statement from your mortgage lender (if applicable) 

  • Drafting a completion statement setting out the funds you will receive/need for completion;

  • Checking the transfer deed;

  • Ask you to attend our office to sign the contract and transfer deed;

  • Exchanging contracts;

  • Completing your sale;

  • Redeeming your mortgage and paying the estate agents fees;

  • Accounting to you for the proceeds of sale;

  • Dealing with all post-completion matters, particularly sending the documents to the buyer’s solicitors and advising the lender their mortgage has been repaid. 

 

Our fees cover the foreseeable work required to complete the sale your property, including  dealing with the payment of the estate agents fees and repaying your mortgage on the property. 

The fees will cover both the legal fees charged by us and disbursements. Disbursements are costs related to your matter that are payable to third parties which we handle the payment of  on your behalf to ensure a smoother process.

Below is a summary of the standard costs that are chargeable in each matter.  Depending on the type of matter, however, additional fees and disbursement may be chargeable.  Please refer to the Fees section for various examples and the current amounts chargeable.

 

Conveyancer's fees 

  • Legal fees 

  • Electronic money transfer fee 

  • Electronic Identification fee 

  • VAT at 20% 

 

Disbursements

  • HM Land Registry fees

  • Freeholders fees if the property is Leasehold

 

SUMMARY OF A TRANSFER OF EQUITY

By way of summary, we have set out below a broad outline of the work we will undertake on your behalf during a transfer of equity (no mortgage involvement)  i.e. adding someone to the title deeds or removing someone from the title deed.

  • Take your instructions and give you initial advice

  • Once we have been instructed by you signing and returning our client care letter, we will carry out an electronic identification check on each of our clients

  • Obtaining the title documents from Land Registry/Checking the Title Deeds from the other party's solicitor

  • Checking/drafting the Transfer Deed with reference to the Title Deeds;

  • Ask you to attend our office to sign the Transfer Deed;

  • Receiving the equity on completion from the other party’s solicitor and forwarding this to you OR forwarding the equity to the other party's solicitor on completion once we have checked the source of these funds;

  • Dealing with all post-completion matters (submitting Stamp Duty forms/ documents to the Land Registry, where applicable);

  • Obtaining evidence of change of ownership and forwarding it to you. 

  • As far as timescales are concerned, it is very difficult to provide a realistic estimate, as it is dependent on so many variables.  By way of a guide, it is common for matters to complete within 4 weeks. 

 

Below is a summary of the standard costs that are chargeable in each matter.  Depending on the type of matter, however, additional fees and disbursement may be chargeable.  Please refer to the Fees section for various examples and the current amounts chargeable.

 

Conveyancer's fees 

  • Legal fees 

  • Electronic money transfer fee 

  • Electronic Identification fee 

  • VAT at 20% 

 

Disbursements

  • HM Land Registry fees

  • Stamp Duty Land Tax 

 

SUMMARY OF A REMORTGAGE

The precise stages involved in the remortgage of a property vary according to the circumstances and lender. However,  by way of summary, we have set out below a broad outline of the work we will undertake on your behalf when remortgaging a house:

  • Take your instructions and give you initial advice

  • Once we have been instructed by you signing and returning our client care letter, we will carry out an electronic identification check on each of the owners

  • Obtaining the title documents from Land Registry

  • If required by the lender, then carry out standard searches.  These are to obtain information from the drainage and water provider, the coal authority, an environmental search and also from the local authority on items like whether the road is adopted and if there are any planning permissions for the property.  The first three searches usually come back within 2 days.  The local authority search result can take approximately 2 weeks.  Our searches, do appear to come back much quicker than other solicitors who carry out  personal searches via a third party agent. We do this once the Land Registry boundary plan has been approved by you.

  • Check the title of the property.  

  • Check the mortgage offer shows the correct purchase price, your names and address once we receive this from your lender.  This often comes via our online portal and can reach us at the same time as you receive your copy. We will go through conditions of mortgage offer with you.  We do not advise on the specific details of your chosen mortgage; this information should be provided by your broker or lender.

  • Prepare the mortgage deed;

  • Ask you to attend our office to sign the mortgage deed .

  • Draft the completion statement setting out the funds we need from you in order to complete and ask you to send this to us before completion

  • Carry out the final searches with the Land Registry.  These are to ensure the register is frozen and also to ensure you are not bankrupt.  

  • Organise the funds from the lender (if applicable).  This usually takes 5 working’ days. 

  • Once we receive the mortgage funds we will complete the transaction. 

  • Redeeming your existing mortgage and advising the lender of its repayment.

  • Accounting to you for any surplus funds;

  • Serve notice on the Freeholder (if applicable) 

  • We advise the Land Registry of the repayment of the existing mortgage and that you have  a new mortgage. 

  • On return of the title document from the Land Registry  we lodge it with the new mortgage lenders and send you a copy of the register 

  • Limitations: We do not provide any tax advice. 

 

Our fees cover the foreseeable work required to complete the remortgage.  The fees will cover both the legal fees charged by us and disbursements. Disbursements are costs related to your matter that are payable to third parties which we handle the payment of  on your behalf to ensure a smoother process.

Below is a summary of the standard costs that are chargeable in each matter.  Depending on the type of matter, however, additional fees and disbursement may be chargeable.  Please refer to the Fees section for various examples and the current amounts chargeable.

 

Conveyancer's fees 

  • Legal fees 

  • Electronic money transfer fee 

  • Electronic Identification fee 

  • VAT at 20% 

 

Disbursements

  • Search fees 

  • HM Land Registry fees

IF YOU WOULD LIKE ANY FURTHER ADVICE ON ISSUES RELATED TO MOVING HOUSE, WHY NOT GIVE US A CALL

 

Our team can advise you on the following:

  • House Purchase or Sale

  • New Build Purchase

  • Remortgaging

  • Equity Release

  • Buying a Shared Ownership Home

  • Transferring a home

  • Buy to Let

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