A quick guide to conveyancing
It is important that you find reputable property solicitors or a licensed conveyancer who will ensure everything runs smoothly when buying or selling a house.
To give you a head start, our quick guide to conveyancing will help you on your way. To find out more details about how the conveyancing process works, you can read our complete guide to conveyancing for extra useful tips and advice.
What is conveyancing?
Conveyancing is a term that refers to all of the legal aspects of moving house and administrative work associated with transferring the ownership of a property from one person to another.
The process will start once you accept an offer on a property or your offer has been accepted and will finish once all relevant contracts have been signed and money transfers have been completed.
Property conveyancing is undertaken by solicitors or licensed conveyancers who act on behalf of a buyer or seller. All solicitors in England and Wales need to be registered with the Law Society and regulated by the Solicitors Regulations Authority (SRA) and conveyancers will need to be licensed and regulated by the Council for Licensed Conveyancers (CLC). Scotland and Northern Ireland have their own societies which are the Law Society of Scotland and the Law Society of Northern Ireland.
Why do I need conveyancing?
When you buy, sell or re-mortgage a property, you will need to hire a licenced Conveyancing Solicitor make sure that both parties are meeting all the necessary legal requirements. They will handle the transfer of rights to the property to ensure that no legal issues arise.
What is the cost of conveyancing?
Conveyancing fees range from between £250 to £1,500. The average conveyancing costs will vary depending on the value of the property you wish to buy, sell or re-mortgage and whether is it freehold, leasehold and whether schemes such as Right to Buy or Help to Buy are being used.
Find out more about solicitor’s fees for buying a house and solicitors fees for selling a house by reading our article on conveyancing costs and fees.
What will my conveyancing quote include?
The quote from your conveyancer or solicitor will include basic fees, disbursements and expenses. The basic fees will cover the cost of your solicitor or conveyancer’s time. Disbursements and expenses are costs that are incurred by your solicitor or conveyancer which are passed onto to you. The kind of disbursements you are likely to be charged for include: local authority searches, Stamp Duty Land Tax, Land Registry, environmental and drainage searches. Expenses have VAT added and include, electronic ID verification, telegraphic transfers and dealing with shared ownership or new build properties.
You can use our Moving Costs Calculator to discover how much Stamp Duty will cost you when moving house.
How long does the conveyancing process take?
The average conveyancing process takes between 8 and 12 weeks to be completed. You can find out more details about the process by reading our step by step guide about the stages of the conveyancing process, which is full of helpful tips and advice.
Conveyancing in Scotland
The process for buying or selling a property in Scotland is different to England and Wales. It is important to note that since April 2015, Stamp Duty Land Tax, in Scotland is now called Land and Buildings Transaction Tax. To find our more information read our useful guide to conveyancing in Scotland.
If you are struggling with the legal jargon of conveyancing, then read our conveyancing glossary of terms and definitions to make moving house that little bit easier.