The type of solicitor you need when buying or selling a property is known as either a Property Solicitor, Conveyancing Solicitor, Property Lawyer or Conveyancer.
1. When should I instruct a property lawyer when buying a house? Do I have to use one?
You should instruct a property lawyer once your offer is accepted when buying a house. Although DIY conveyancing is possible, most mortgage lenders will require you to work with a property lawyer to protect their interests.
2. How much are the property lawyer’s fees when buying or selling a house?
Legal fees for a property lawyer depend on various factors like the type of property and its value. The fees for buying and selling property typically start from £600 + VAT.
The legal fees depend on many factors including but not limited to; the value of the property you are buying, whether it is a freehold (most houses), or leasehold (flats); if it is a Ltd Company purchase or a buy to let property. Conveyancing on leasehold transactions costs more due to the additional work required, whilst other factors, such as buying through shared ownership, can also add to the cost.
Most solicitors now offer the ‘no completion – no fee promise’ and, if your transaction falls through, they do not get any fees for the time they have spent on your case. However, if they have already paid out costs on your behalf, such as searches (these are known as disbursements) then these are chargeable. It could be well worth paying for a search that reveals that the property is not suitable and therefore saves you money in the long term.
3. What does a property lawyer do for me when I am buying or selling a house?
A property lawyer handles all the legal aspects of buying or selling a property, including reviewing the title and advising on searches, inspections and potential issues. A good property lawyer, such as LPL, will keep you updated regularly via their portal or other communications, and can really support you in what is often a stressful process for most people.
LPL have created ‘LPL-Cloud’ which has been designed to speed up the conveyancing process. LPL-Cloud is your very own portal that allows you to complete and sign forms electronically in addition to being able to upload your identification documents.
A property solicitor is instructed during the transfer of a property title from one person to another. This process is commonly called the conveyancing process. The tasks a solicitor undertakes will depend on whether they are acting for the buyer or the seller. As property is purchased caveat emptor, which means “let the buyer beware”, it is the buyer’s solicitors who take on the biggest risk during the conveyancing transaction. This principle also outlines the importance of a buyer undertaking and arranging their own structural surveys and inspections of the property to uncover any hidden physical defects.
For the buyer, a property solicitor will undertake a review of the legal title to discover if there are any issues that could prevent you from buying the property, reselling it again in the future to someone else or from registering a charge over the title (even if you are not getting a mortgage yourself). There are several potential problems that could arise, and the buyer’s solicitor is responsible for finding these with the information provided including reviewing the deeds and title, inspecting the local council property searches, and assessing the personal situation of the client (e.g., proof of ID and proof of funds).
For the seller, the solicitor’s responsibilities are to produce evidence of their legal title to the property to the buyer’s solicitors that has been supplied to them by their clients. Sometimes information will not be available, and they should in these cases assist in obtaining the information the buyer’s solicitors need. A seller must complete a Property Information Form and Fittings and Contents Form.
4. How long does residential house conveyancing take?
Unfortunately, this is never easy to answer, as it depends on every buyer, seller, property lawyer and mortgage lender involved in the chain.
The national average timescale for house buying currently stands at between 14-20 weeks depending on whether the purchase is of a Flat or a House. It could be sooner, and LPL will always look to complete at the earliest opportunity.
However, it is important that you understand that your solicitor is only as fast as the slowest in the chain or third party such as Local Authority/Lender. Please note that timescales usually begin once a contract pack has been received by the buyer’s Solicitor and not from when your offer is accepted.
As a rule of thumb, leasehold properties take longer than freehold, and the more parties that are involved in a chain, the longer it can take.
Be careful of solicitors or estate agents who promise to get you moved in before a certain date as it is usually out of their hands. There are so many different factors to be considered which are controlled by third parties so it is almost impossible to confirm a date for completion until the latter stages of the transaction. It is advisable to plan for some flexibility, just in case your transaction takes longer than expected.
5. What is the conveyancing process?
A property lawyer ensures that the process of transferring property ownership is legally sound, managing everything from title searches to preparing contracts and dealing with third-party issues. See our simple guide to the conveyancing process, our conveyancing jargon explained, conveyancing video guides and moving home tips.
6. How do I get an instant property lawyer quotation?
You can get an instant quote from a property lawyer by visiting www.leadingpropertylawyers and using the online tool.
7. Do I need to choose a property lawyer that is near to my home?
No. It is not necessary to instruct a solicitor or conveyancer that is local to you when buying or selling a property. Conveyancing follows the same set of processes wherever in England and Wales your property is situated and is usually handled remotely. Your solicitor will also handle your transaction remotely by communicating with you over the phone, via email and post – it is therefore rarely necessary to need to visit their office in person.
At LPL we also have an online portal which you can access to get live updates on your transaction progress.
8. What conveyancing searches do I need?
Property searches are one of the main parts of the conveyancing process. For most buyers, these essential enquiries can seem bewildering and full of legal jargon. Property searches are very important as they help your conveyancing solicitor piece together your transaction like a big jigsaw. Every search provides information about elements of the property. When all the details are compiled, your solicitor has a complete picture of what the property looks like. Most importantly, the area around it is also revealed.
We have listed below some of the most popular property searches. Some are carried out in nearly all purchases, but some will only be required for homes in certain areas. Some searches are advisable but not crucial. If you are obtaining a mortgage to fund your purchase your lender may insist on searches and this will be a condition of the mortgage offer. As we will be working for the lender too, we have certain obligations to them to fulfil in respect of ensuring their security is good and marketable .
Your property lawyer will advise you on which searches you need and how long property searches take. Your LPL fixed-fee conveyancing quote will clearly outline what is included such as legal fees, search fees and disbursements.
- Local search – to obtain a range of information from the local council, such as whether the property is affected by plans for a new road, the planning and building regulation history or a planning enforcement notice.
- Drainage and water search – does the property have mains water and drainage? The local water company will also provide other helpful information, such as the position of pipes.
- Environmental search – is the property affected by contamination that may incur expensive removal?
- Planning search – find out whether the neighbours have got planning consent for a large extension or if a planning application has just been lodged for a new superstore down the road.
- Flood risk report – check whether the property is at risk from flooding.
- Coal mining, brine pumping, and other mining searches – to establish if the property could be affected by old mine workings or a new opencast mine nearby.
- High Speed Rail 2 (HS2) – reveals if your new home will be affected by new rail line.
- Chancel repair liability search – check you will not be liable to pay for the maintenance of your local church.
- Land registry pre-completion search – make sure the seller still owns the property on completion.
9. What do I need to do?
The first thing you will need to do is instruct your solicitor. Once the process has started all you will need to do is sign and return the required documents and paperwork. You will also have to show identification to your solicitors.
If you are just selling a property, you will only have to sign the sale contract and transfer. If you are buying a property you need to sign your purchase contract plus the mortgage deed. Mortgage deeds usually need to be witnessed by anybody who is not related to you and is over the age of 18. The witness does not need any particular qualifications except in specific circumstances as required by your lender but these will be explained to you fully by your conveyancer.
10. What is different about LPL Conveyancing and all the other online firms?
- Our clients will be given the choice of a 3-, 5- or 7-day update with real-time progress notifications on our online portal
- We will answer every telephone call in a polite and engaging manner
- We will reply to all emails quickly – usually the same day however this depends on the query
- We will acknowledge all post received the same day
- All post will be worked within 48 hours of receipt
- We will provide an honest and genuine service
- We will deliver customer service that exceeds expectations
- Fixed fee conveyancing – no hourly fees or hidden rates
- We will work pro-actively to complete transactions
- Our people love what they do
- No completion no fee payable
