Residential conveyancing is the legal process of transferring ownership of a property from one person to another.

Whether you’re buying or selling a home, conveyancing is essential to ensure the transaction is legally binding and that all necessary steps are completed correctly.

In this blog, we’ll walk you through what conveyancing involves, what a conveyancer does, and the key stages in the process for both buyers and sellers.

What is Residential Conveyancing?

What Does a Conveyancer Do?

Key Roles of a Conveyancer

A conveyancer handles all the legal aspects of buying or selling a property. Here’s what they do:

• Preparing and Reviewing Contracts: Your conveyancer will draft or review the contract for sale, ensuring it reflects your terms and protects your interests.

• Conducting Property Searches: They’ll carry out searches with local authorities and other bodies to check for issues that might affect the property, like planning restrictions or flood risks.

• Handling the Exchange of Contracts: When both buyer and seller are ready, the conveyancer will manage the exchange of contracts, making the sale legally binding.

• Managing Financial Transactions: This includes transferring the deposit and final payment between parties, as well as ensuring that any existing mortgage on the property is paid off.

• Registering the Property: Finally, your conveyancer will register the change of ownership with the HM Land Registry, making it official.

Difference Between a Conveyancer and a Solicitor

Both conveyancers and solicitors can carry out conveyancing work, but there are some differences:

• Licensed Conveyancers are specialists in property law and typically only handle conveyancing. They are usually more affordable than solicitors.

• Solicitors are qualified lawyers who can offer a wider range of legal services beyond conveyancing. If your transaction is complex, a solicitor might be the better choice.

Related: What is Commercial Conveyancing?

The Residential Conveyancing Process – For Buyers

Buying a home involves several steps, and your conveyancer will guide you through each one.

Step 1: Offer Accepted

Once the seller accepts your offer, the process begins. It’s crucial to instruct a conveyancer as soon as possible to avoid delays. They will contact the seller’s solicitor to get the ball rolling on the legal work.

Step 2: Searches

Your conveyancer will carry out several searches to uncover any potential issues with the property, such as:

• Local Authority Search: Checks for any planning issues or restrictions that could affect the property.

• Environmental Search: Looks for risks like flooding or contamination.

• Drainage and Water Search: Ensures the property is connected to public water and drainage systems.

These searches help you understand any risks before you commit to buying.

Step 3: Mortgage and Survey

If you need a mortgage, now is the time to secure it.

Your lender will require a valuation survey to confirm the property’s value. Additionally, you might choose to have a more detailed survey, such as a Homebuyers Report or a Full Building Survey, to identify any structural issues.

Step 4: Drafting Contracts

The seller’s solicitor will send a draft contract to your conveyancer, who will review it and raise any necessary enquiries.

These could be questions about the property’s boundaries, fixtures and fittings, or any issues raised by the searches.

Step 5: Exchange of Contracts

Once all enquiries are satisfied and your mortgage is in place, you’ll be ready to exchange contracts. This is when you and the seller agree to the sale, and the transaction becomes legally binding.

At this point, you’ll pay the deposit (usually 10% of the purchase price).

Step 6: Completion

Completion is the final step. On the agreed completion date, the remaining funds are transferred to the seller, and you receive the keys to your new home.

Step 7: Post-Completion

After completion, your conveyancer will:

• Register your ownership with the HM Land Registry.

• Pay the Stamp Duty Land Tax (SDLT) on your behalf. The amount you pay depends on the property’s value and whether it’s your first home.

The Residential Conveyancing Process – For Sellers

If you’re selling a property, the conveyancing process is slightly different but equally important.

Related: What is the difference between leasehold and freehold?

Step 1: Instruction of a Conveyancer

Before you even list your property for sale, it’s a good idea to choose and instruct a conveyancer. They’ll be ready to act as soon as you accept an offer.

Step 2: Property Information Forms

You’ll need to fill out several forms that provide details about the property, such as:

• Property Information Form (TA6): Covers boundaries, disputes, and other general property details.
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• Fittings and Contents Form (TA10): Lists what items you’re including in the sale (e.g., light fittings, curtains).

These forms help the buyer understand what they’re purchasing.

Step 3: Draft Contract

Your conveyancer will prepare the draft contract based on the terms you’ve agreed with the buyer. They’ll also include the completed property information forms and a copy of the title deeds.

Step 4: Dealing with Enquiries

The buyer’s conveyancer will likely raise enquiries based on the contract, searches, or survey results. Your conveyancer will help you respond to these, ensuring everything is in order for the sale to proceed.

Step 5: Exchange and Completion

On exchange, you and the buyer will commit to the sale. You’ll agree on a completion date, which is when you’ll move out and hand over the keys. 

On completion day, your conveyancer will receive the full payment and transfer the ownership to the buyer.

Step 6: Mortgage Redemption

If you have a mortgage on the property, your conveyancer will use the sale proceeds to pay it off. They’ll liaise with your lender to ensure this is done correctly, so you’re free from the mortgage after the sale.

Key Considerations for Both Buyers and Sellers

How Long Does the Process Take?

The typical conveyancing process takes 8-12 weeks from the point at which an offer is accepted. However, this can vary depending on factors such as:

• Whether you’re in a chain: The process can be delayed if you’re waiting on other transactions to complete.

• The complexity of the transaction: Issues like boundary disputes or missing paperwork can add time.

• Mortgage approval: Delays in securing a mortgage can slow things down.

How Much Does Conveyancing Cost?

Conveyancing costs can vary, but here’s a rough breakdown:

• Legal fees: Typically range from £800 to £1,500, depending on the complexity of the sale or purchase.

• Search fees: Usually around £200 to £300.

• Land Registry fees: Between £20 and £455, depending on the property price.

• Stamp Duty: This depends on the property’s value and whether you’re a first-time buyer.

Remember, costs can vary between freehold and leasehold properties, with leaseholds usually being more expensive due to additional legal work.

Related: What is a Transfer of Equity?

Potential Delays in the Conveyancing Process

Delays can occur for several reasons, such as:

• Mortgage issues: If the lender is slow in processing your application or needs additional documentation.

• Search results: If searches reveal issues that need further investigation, like a planning permission problem.

• Survey concerns: If a survey uncovers significant issues, it might require renegotiation of the price or repairs before proceeding.

To avoid delays, it’s best to get your finances in order early, respond promptly to your conveyancer’s requests, and keep communication open.

What to Look for When Choosing a Residential Conveyancer

When choosing a conveyancer, consider the following:

• Experience: Look for someone with experience in handling similar transactions. If you’re buying a leasehold property, for instance, make sure they have specific experience with leaseholds.

• Communication: A good conveyancer will keep you informed throughout the process and be responsive to your queries.

• Fees: Some conveyancers charge a fixed fee, while others bill by the hour. Make sure you understand how you’ll be charged and what’s included in the fee.

Online Conveyancing vs. Traditional Solicitors

You might come across online conveyancing firms that offer lower fees. Here’s a quick comparison:

• Online Conveyancing: Often cheaper and faster, but you may not get as much personal service. Communication is typically through email and phone rather than face-to-face meetings.

• Traditional Solicitors: These are more expensive, but you benefit from face-to-face contact and a potentially broader range of legal services. This can be helpful if your transaction is complex.

Both options have their pros and cons, so choose the one that best suits your needs and budget.

Frequently Asked Questions (FAQs)

Can I Do Conveyancing Myself?

It’s possible to do your own conveyancing, but it’s not recommended for most people. Here’s why:

• Legal Complexity: Conveyancing involves navigating complex legal documents and procedures. A professional conveyancer or solicitor has the expertise to handle this correctly, reducing the risk of errors that could cause delays or legal issues down the line.

• Potential for Delays: If you’re unfamiliar with the process, you might miss important deadlines or overlook critical details, leading to delays in your transaction.

• No Professional Indemnity Insurance: If something goes wrong, you won’t have the protection of professional indemnity insurance, which covers legal costs and losses if your conveyancer makes a mistake.

For these reasons, using a professional is usually worth the cost, ensuring that the transaction proceeds smoothly and legally.

What Happens if a Buyer or Seller Withdraws?

If either party pulls out of the transaction, the consequences depend on when this happens:

• Before Exchange of Contracts: Either party can withdraw without legal penalties, although there may be costs incurred for things like searches or surveys that the withdrawing party won’t recover.

• After Exchange of Contracts: Once contracts are exchanged, the transaction is legally binding. If the buyer withdraws, they typically forfeit their deposit, which is usually 10% of the purchase price. If the seller withdraws, the buyer can sue for breach of contract and may be entitled to compensation.

It’s crucial to be certain of your decision before reaching the exchange of contracts to avoid these penalties.

Do I Need a Survey if the Property is New Build?

Even with a new build, it’s advisable to have a survey, although it might differ from surveys for older properties:

• Snagging Survey: A snagging survey is specific to new builds. It identifies minor issues, or "snags," such as poor finishes or defects that the builder needs to fix before you move in.

• Structural Issues: While new builds are generally less likely to have significant structural problems, issues can still arise. A survey can provide peace of mind and help you address any concerns before completion.

Investing in a survey, even for a new property, ensures that you’re aware of any issues and that they’re resolved before you take ownership.

Why Using a Conveyancer Is Essential

Residential conveyancing is a complex and legally binding process, and using a professional conveyancer ensures that everything is handled correctly. Here’s why it’s essential:

• Legal Expertise: A conveyancer has the knowledge to navigate the legal complexities of buying or selling a property, ensuring that all documents are accurate and legally sound.

• Risk Management: Your conveyancer will carry out searches and checks to uncover any potential risks, such as planning restrictions or environmental hazards, helping you make an informed decision.

• Smooth Transaction: By handling all the legal work, and financial transactions, and liaising with other parties, a conveyancer helps ensure that the process runs smoothly and that you complete it on time.

• Peace of Mind: Knowing that a qualified professional is handling your transaction gives you peace of mind, allowing you to focus on other aspects of your move.

Without a conveyancer, you risk making mistakes that could delay or derail the transaction, or worse, lead to legal problems after completion.

For a relatively small fee compared to the overall cost of buying or selling a home, a conveyancer’s services are invaluable.

Next Steps for Buyers and Sellers

If you’re planning to buy or sell a property, your next steps should include:

• Getting Quotes: Contact several conveyancers or solicitors to compare fees and services. Make sure to ask about any additional costs that might arise during the process.

• Instructing a Conveyancer: Once you’ve chosen a conveyancer, instruct them early in the process to avoid delays. They can begin preparing the necessary documents and conducting searches straight away.

• Staying Organised: Keep all documents and correspondence organised. Respond to your conveyancer’s requests promptly to keep things moving forward.

By taking these steps, you’ll be well on your way to a successful and stress-free property transaction.