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Conveyancing made easy

Finding the house of your dreams in is always exciting and your priority is to secure the property as soon as possible. But buying a new home can be a complex process, particularly when it comes to understanding the conveyancing procedure.

Here at Mortgage Squared we always endeavor to ensure your purchase runs smoothly, with no surprises along the way. So, with this in mind, we have created a no-jargon guide to the conveyancing process to help you.

But, first things first.

What is conveyancing?

Conveyancing is the legal term for the transfer of home ownership between a buyer and seller. When the offer is accepted on the chosen property, the process begins. It then completes when you have the keys on moving day. The conveyancing process is essential to ensure that all the legalities of your sale or purchase are covered. It’s to make certain the transfer of ownership happens with as little stress as possible.

Who does the conveyancing?

You can do this yourself if you are versed in the legalities. Using a legal representative may make you feel better protected. It’s always wise to make enquiries and carry out due diligence so that you have several options ready. This way you can start the process without delay. Once you have chosen and appointed a conveyancer or solicitor, they will draw up a draft contract and advise you of their charges.

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To make it even easier use our comparison site to find a conveyancer/solicitor.

The 8-step Conveyancing Process

Step 1: Legal Representatives connect

The first task undertaken by your solicitor or conveyancer will be to contact your seller’s legal representative. They will request a copy of the draft contract, the property’s title and other standard forms. Your solicitor or conveyancer will thoroughly examine these documents and raise any initial queries. They will also action a number of ‘searches’ to make sure there are no issues you need to be aware of that are not in plain sight. The most common searches are local authority searches, environmental searches and drainage and water searches.

Step 2: Mortgage and survey requirements

At this point, you should make sure your mortgage is in place as your solicitor or conveyancer will require a copy of your mortgage offer for the next stage of the conveyancing process.

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Please see for more information on Mortgages and how to contact us for advice.

You will also be required to get a mortgage valuation. It is to satisfy the lender that the property is secure against the amount of money they are loaning you.

Step 3: Signing of contracts

After these points are completed –

  • all the searches have completed
  • the mortgage offer has been provided
  • the survey that has been carried out on the property,
  • your solicitor has agreed details regarding the transfer of your deposit funds along with a completion date.

You will then be ready to sign the contract in preparation for exchange and completion.

Step 4: Contracts are exchanged

Exchange of contracts between buyer and seller is the exciting part. When your deposit is paid you are in a legally binding contract.  The good news is that the seller can no longer accept another offer on the property and must sell the property to you. However, if you back out of the purchase at this stage, you will lose your entire deposit. There is usually a deliberate delay between exchange and completion to allow the deeds to the property to be transferred into your name.

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Step 5: Finally, it’s completion day!

Reality is as soon as the sellers solicitor confirms that all the monies have been received – its all systems go.

Step 6: The final legal work

Whilst you move into your new property, your solicitor or conveyancer will tie up all the loose ends from a legal perspective.

They will also send you your final bill for legal work undertaken.

If you are looking for a trustworthy comparison site then check ours out here

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