Don't be clueless, be property legal savvy!

Solicitors and conveyancers are quite similar. Whilst conveyancers specialise in property transactions alone, solicitors tend to deal with other types of law such as matrimonial work or injury work as well. Most solicitors have expert in-house conveyancing lawyers and are part of The Law Society Quality Standard, which means they’re on a level footing to conveyancers when it comes to handling the legal aspects of your property purchase, sale or remortgage.

The main difference between conveyancers and solicitors is the way they’re governed. Both are regulated, but they have different governing bodies however, this doesn’t have much of an impact on you.

It’s completely up to you if you decide to go with a licensed conveyancer or a solicitor to handle your house sale or purchase or remortgage, but if you would like a recommendation then please contact us on 01206 688568 and we can put you in touch with a suitable conveyancer or solicitor.

Purchasing a property

When purchasing a property you will need a solicitor or conveyancer to deal with your property transaction. We’ve provided an easy step by step guide on what they’ll do in this process, so you have a much better understanding.

1

Instruct a Conveyancer or Solicitor

  • You should ideally get some quotes together for legal fees before you find your perfect home
  • You will need to decide on a conveyancer or solicitor to handle the legal aspects of your purchase or sales,  when you submit your mortgage application
  • You will pay for your search fees on instructing a solicitor or conveyancer (usually around £250 - £350)

2

Fill in paperwork

  • Your conveyancer or solicitor will send you a starter pack when you instruct them on your property transaction
  • You must fill this in as soon as possible and send it back
  • They will not start any work on your house purchase or sale until this has been done

3

Searches instructed and enquiries raised

  • You conveyancer or solicitor will instruct your searches to be started and raise enquiries on the property
  • They will await a responses from the search agent (the people who carry out the searches) and the replies to enquiries from the seller’s conveyancer or solicitor

4

Searches back

  • After the searches have come back there may be additional enquiries to be raised on the back of these (usually if there’s anything abnormal in the searches) – these are called secondary enquiries
  • All replies to enquiries back and satisfactory

5

Time to sign

The following legal documentation relating to your property transaction will be prepared.
  • Contract
  • Mortgage Deed
  • Transfer of equity (TR1 form) – this is the form that formally changes the property from one name to the other

6

Exchange & complete

  • When all the documents are back with the conveyancer or solicitor, the whole chain is ready to exchange. This must be simultaneous.
  • Conveyancer or solicitor will instruct exchange (this is where it’s legally binding)
  • Completion: This is where you can pick up the keys

we are legal 

Remortgage

When remortgaging your property you will also need a conveyancer or solicitor involved. But don’t worry it’s not usually expensive. Most mortgage lenders will offer you a free valuation and free legal services when you remortgage or will give you cashback to help pay for them. When we find the best deals for you, we’ll make sure we check if they have that facility. Sometimes they don't but that doesn't mean it's a bad remortgage deal at all.  If often means that the mortgage product we’ve recommended is going to save you so much money that it’s worth paying the valuation and legal fee to make sure you benefit from the cheap rate. We can’t stress enough the importance of speaking to us to get our mortgage expertise and to ensure that you get the right product for you – after all, a mortgage can be one of your largest commitments! Here are some steps in the remortgage process so you know what to expect: 
  • Solicitors will contact you with a starter pack and ask you to complete it.
  • Await mortgage offer from the mortgage lender
  • Check mortgage offer and your outstanding balance from your existing mortgage lender and if there are any early repayment charges
  • Simultaneous draw the fund from the new mortgage lender and pay off your existing mortgage lender*

And Voila! Your remortgage is complete.

*If you’re overpaying they will; request the additional funds form you or if you’re left with a surplus (for home improvements, debt consolidation, etc) they will ask for an account to transfer the funds.