Our Guides On Property
Conveyancing is the term used to describe the legal work involved with buying and selling a property. Conveyancing is normally carried out by either a solicitor or a qualified licensed conveyancer.
There are several stages involved in the conveyancing work, your solicitor or licensed conveyancer will request contract papers from the vendor's solicitor, undertake various searches such as a local authority search, check the title to the property you are buying to see who legally owns it, organise exchange of contracts, obtain the necessary funds from your mortgage lender, and arrange for these to be sent to the seller on completion of the sale.
The legal fees payable for the conveyancing work are made up of the solicitor's or licensed conveyancer's own fees plus "disbursements". Disbursements are fixed amounts that the solicitor pays to others on your behalf, for example fees to the land registry, local authority search fees, etc. Some mortgage lenders offer mortgage packages where they will meet some or all of these costs.
When choosing a solicitor or licensed conveyancer to handle your conveyancing, it is advisable to find a firm that offers a no exchange, no fee promise. This means that if the purchase of your property falls through before completion there will be no fees or charges for the work the solicitor has carried out up to that point.