A conveyancing solicitor acts as a legal specialist, handling the acquisition, disposition, or transfer of legal title pertaining to real property or land.

The scope of work encompasses critical legal tasks, including the detailed investigation of the property title, the preparation of requisite legal instruments, the drafting and formal exchange of contracts, the submission of Stamp Duty Land Tax returns, and the official registration of new ownership with H.M. Land Registry.

Given the rigorous statutory and regulatory compliance requirement necessary to effect a valid change of ownership and comply with any mortgage lender requirements, the conveyancing process is legally and procedurally complex.

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What are the main steps in a property purchase?

In the context of a property purchase, the conveyancing solicitor, being a legally trained professional, undertakes the following essential duties:

• ‍Title Investigation and Due Diligence: Reviewing the contract documentation furnished by the vendor (seller), submitting relevant conveyancing searches to local authorities and utility providers, and raising formal enquiries with the vendor's legal representative concerning any ambiguities or issues discovered.

• ‍Contract Review and Negotiation: Scrutinising the draft purchase contract, negotiating amendments where necessary, and providing a comprehensive report on its terms and legal implications to the client.

• ‍Examination of Legal Title: Ascertaining the vendor's legal entitlement to convey the property and advising the purchaser on any encumbrances, covenants, or other legal matters that may adversely impact the future enjoyment, use, or saleability of the property.

• ‍Reporting to the Client: Providing a detailed written report summarising the findings of the title investigation and the principal legal aspects of the transaction.

• ‍Liaising with Lender: Coordinating with the purchaser's mortgage provider to ensure the property's title and condition satisfy the lender's security requirements and conditions precedent to funding.

• ‍Execution of Legal Transfer: Ensuring the legal instrument of transfer is properly executed and that the property is legally vested in the name of the purchaser.

• ‍Mortgage Registration: Registering the new legal mortgage against the property with H.M. Land Registry.

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A competent conveyancing solicitor is instrumental in the timely identification of potential legal defects, ensuring that any issues are properly rectified and communicated prior to completion.

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How much does conveyancing cost?

The professional fees and expenses associated with conveyancing are subject to significant variation, influenced by factors such as the property price, the type of property, its geographical location, whether the instruction is for a purchase or a sale, and whether the tenure is freehold, leasehold or commonhold.

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The purchase of a leasehold property typically necessitates a greater number of hours of legal work. This includes, but is not limited to, the detailed review of the lease covenants, compliance with the requirements of the landlord, and necessary liaison with the managing agent.

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How long will my transaction take?

Providing an exact commencement-to-completion timescale is difficult. However, the typical conveyancing period for the purchase of a freehold property, from the initial issue of contract papers to the formal exchange of contracts, generally spans six to twelve weeks. This is an average projection and is predicated on the assumption of an absence of a complex property chain, conditional mortgage lending or unusual moving requirements.

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In contrast, the average transaction time for a leasehold property is longer, typically eight to fourteen weeks. This extended duration is attributable to recent legislative changes, increased mortgage lender stipulations, the necessity of checking additional legal points specific to leasehold tenure, and a reliance on the administrative efficiency of management companies and landlords in providing requisite documentation.

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How can I speed up the conveyancing process?

The most common causes of delay involve the processing of documentation, mortgage underwriting, or the failure to produce required information. To maintain momentum, purchasers should adhere to the following practical steps:

• Early Instruction: Instruct a conveyancer at the earliest opportunity, ideally prior to submitting a formal offer. This allows for the timely completion of mandatory Anti-Money Laundering and Identity verification checks, and necessary pre-contract preparatory work.

• ‍Securing Mortgage Approval in Principle: Obtain a formal Agreement in Principle for the mortgage financing. Utilising a mortgage broker can often streamline the approval process.

• ‍Prompt Survey Instruction: Commission the property survey immediately. Early receipt of the survey report enables the rapid identification and resolution of any physical defects or valuation issues.

• ‍Timely Provision of Documents: Immediately furnish all requested documents, including proof of available funds and photographic identification, upon request.

• ‍Maintaining Open Communication: Ensure regular and proactive communication with the estate agent, your conveyancing solicitor, and the mortgage broker to facilitate the flow of information.

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How can Lawcomm Solicitors help?

We are an established and Law Society Conveyancing Quality Scheme approved firm of solicitors.  We have successfully helped tens of thousands of home movers since our formation in 1999.  We are very well placed to deal with your conveyancing requirements.

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In order to obtain a free no obligation cost estimate for your conveyancing transaction and further information about conveyancing, please visit www.lawcomm.co.uk/conveyancing-estimate.

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For further information on property law or the conveyancing process, please do not hesitate to contact Mr Bill Dhariwal on DDI: 01489 864 117 or E: bill.dhariwal@lawcomm.co.uk.

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_{The contents of this article does not constitute legal advice.  Law applicable as at date of publication.}