Conveyancing FAQs

How Long Will It Take?

It is difficult to say with any certainty how long your transaction will take, as this is dependent upon the complexity of the documentation, the chain involved and the speed with which we can obtain information from third parties. As a guide, the average transaction takes between 8 to 12 weeks, but we have been able to significantly reduce this time frame.

What Is A "Chain"?

A chain is where for example, a first time buyer purchases a property from a couple that are also moving to a new property. Their sellers may also be moving, meaning that there are potentially four or five properties in a chain, each with their own solicitors, estate agents, mortgage lenders etc. A chain can complicate a transaction, as so much information is required to ensure that all parties are able to exchange contracts and agree a date upon which the complete chain can move house.

How Much Will It All Cost?

A full quote will be sent to you, with an initial “Welcome Pack” at the outset, so that all our fees are clear and provided in advance of your instructions. If you are purchasing a property, we understand that you need to budget for legal fees and disbursements.

What Are Disbursements?

“Disbursements” are payments made by us to others on your behalf, such as stamp duty, land registry fees and search fees.

What Searches Do You Carry Out And Why?

During the course of your transaction, we may need to carry out the following searches:-

Local Authority Search
This search is against the property only and will not for example cover proposed developments on surrounding or adjacent land or property. The search will reveal details of the planning history for the property, any breaches of planning, any proposals for new roads or traffic schemes, tree preservation orders, conservation areas and any other matters that may affect the property.
Drainage Search
This search reveals information about whether or not the surface and/or foul water drains run into a public or private sewer.
Land Registry Search
This search is carried out following exchange of contracts and is used to ensure that nothing has been added to the Land Register since office copies were produced. It also gives a “Priority Period”, which in effect that no changes can be made for 30 days from the date of the search.
Land Charges Search
Also known as a Bankruptcy search; we are required to carry this out by your mortgage lender.
Environmental Search
The information provided on this search includes details of any landfill or waste disposal sites in the area and whether there are any risks from contaminated land, flooding or subsidence.

How Do I Find Out If There Is Likely To Be Development On Adjoining Land?

Enquiries can be made with the local planning office to check whether planning permission has been granted. Many Local Authorities now have this facility on their website.

How Much Deposit Will I Need?

If you are buying, the amount of the deposit will usually depend upon the size of your mortgage.

If it is less than 90% then you will usually need to find 10% but if you are borrowing more than this we can often persuade the seller to accept whatever amount you are putting in or even just the amount of our costs and disbursements only if you are borrowing 100%. The deposit is a matter of negotiation and you can also usually use any deposit you receive on a sale as part payment of your deposit on the purchase. Your lawyer can advise you on the best way of minimising your deposit.

When Do I Need To Insure The Property?

You should arrange buildings insurance before exchange of contracts, as the property will be at risk from the moment you exchange. If the property is Leasehold, then the Landlord may already insure the property and your Conveyancer will be able to advise you. If your property is a New Build, the developer may insure the property until completion.
The amount of cover should be detailed on your survey or the lender’s valuation report and will usually have suggested a minimum amount of cover, if obtaining a mortgage.

What Is Exchange Of Contracts?

Exchange of contracts is when the sale or purchase is legally formalised. Until “exchange” either party can withdraw, but after exchange the parties are legally bound to sell or buy. This is why so much work is carried out before exchange of contracts, to ensure that the purchaser of a property is obtaining a “good legal title”. Any defects in title to the property are difficult to rectify after exchange of contracts.

What Is Completion?

A completion date generally forms part of the Contract and on exchange of contracts the completion date is agreed. This is the date on which you move into your new property or vacate the old one. On the day of completion, you should be able to collect the keys from the seller and move into your new home.