What Does a Solicitor do in Conveyancing?

When you buy or sell a property, there are all sorts of legal processes you need to get right to make sure the deal works for you and that you stay protected. This is also true when remortgaging, buying a leasehold or taking part in any other type of legal transaction involving your property.

These legal processes are referred to as conveyancing and it’s strongly recommended to have a solicitor who specialises in conveyancing to help you with this. They can ensure all of the legal details are properly taken care of, any potential problems are identified and dealt with and that your transaction can go ahead safely and on schedule.

Exactly what a solicitor will do for you during conveyancing will depend on whether you are a buyer, seller or need help with another form of property transaction. The following is a breakdown of how a conveyancing solicitor will help you with common types of residential property issues.

Conveyancing for buying a property

If you are buying a property, your conveyancing solicitor will help with issues including:

Reviewing the contracts of sale & Home Information Pack (HIP) – To make sure that the terms of the sale are clear and match your expectations.

Making enquiries to the seller – To clarify any points of concern in the contracts of sale or HIP and negotiate amendments where required.

Conveyancing checks – Ensuring there are no issues with the property that could affect you when living there e.g. new developments in the local area or risk from flooding.

Exchange of contracts – Checking that both sets of contracts are identical and properly signed, then swapping the signed copies, making the sale legally binding.

Transfer of funds – Transferring both the deposit and balance of funds from you/your lender to the seller/their lender.

Paying Stamp Duty Land Tax – Transferring funds to HMRC.

Updating the property records with the Land Registry – Reflecting the chance of ownership.

Conveyancing for selling a property

When selling a property, your solicitor will assist with matters including:

Getting a redemption statement from your mortgage lender – To show how much you owe on your current mortgage and any fees you will need to pay if you wish to repay your mortgage early.

Preparing contracts of sale & Home Information Pack (HIP) – Making sure all of the proper details are included and that the contracts protect your interests.

Respond to buyer enquiries – Answering any questions the buyer/their solicitor has about the contracts or HIP and negotiating amends where required.

Exchange of contracts – Making sure both sets of contracts are identical, that they are properly signed and swapping contracts with the buyer’s solicitor, making the sale binding.

Handling transfer of funds – Including taking receipt of the deposit and balance of funds, and transferring funds to your mortgage lender where required.

Remortgage conveyancing

If you wish to remortgage your property, your solicitor will take care of issues such as:

Getting a redemption statement from your lender – Showing how much you owe on your current mortgage and any fees for early repayment.

Reviewing the terms of your new mortgage – To ensure these match your goals and best interests.

Handling transfer of funds – From your new lender to your previous lender.

Updating Land Registry records – To reflect the change of lender.

Conveyancing for leasehold property

This is the same in many ways as for freehold property, except there are certain additional issues your conveyancer will need to assist you with, including:

Reviewing the terms of your lease – including your liability for ground rent, service charges, admin charges and the cost of future work on the property. They will also need to look at how long is left on the lease as this can affect issues such as your ability to get a mortgage and the cost of extending the lease in future.

Identifying the freeholder – So it is clear who the ultimate owner is in case there are any problems with communal areas or if you wish to buy the freehold.

Get safe, reliable and efficient conveyancing for your home

At Atkins Hope, our experienced residential property solicitors offer clear expertise and first-class personal service for buying or selling your home, as well as all other types of conveyancing transactions.

We are members of the Law Society’s Conveyancing Quality Scheme, reflecting the high quality of our property services.

For expert help with resolving a leasehold dispute, please get in touch with our specialist residential property solicitors in Croydon, Medway, Blackheath and Guildford now.