Conveyancing FAQs

I am selling my property – do I need a Home Information Pack (HIP)?

If your property is being marketed now, the requirement for you to obtain a Home Information pack has been removed. However you do still require an Energy Performance Certificate before marketing the Property.

I have a quote from you, any hidden charges?

We provide transparent pricing and will always quote you honestly. Our Conveyancing quote is made up of the legal fee (our fee for doing the work) and the disbursements (expenses incurred on your behalf, such as searches).

We quote you a fixed legal fee to cover the work. We will also quote you all the standard disbursements for your transaction based on the information we have at the time.

Fees and disbursements will only change if something comes to light during the Conveyancing process and was unforeseen at the time the quote was given.

When Can I Book a Removal Firm?

Wait until you hear from us. Nothing is certain until exchange of contracts.

How long will the transaction take?

Once our conveyancing team has prepared (for a seller) or seen (for a buyer) the contract package and made enquiries as to the position of the other parties in the chain, we cannot advise the likely time frame.

The average time taken, from receiving your instructions to exchange of contracts, is between six and eight weeks. If everything proves to be straightforward, this can be quicker. But if there are complications and difficulties (e.g. obtaining a mortgage, chains breaking down etc), the process can take considerably longer.

What happens if I pull out?

As stated above, you can pull out at anytime up until the contracts are exchanged.

We work on a “no completion no fee” basis and will therefore not charge a legal fee for the work done, although you must still pay your disbursements.

What if the other side pull out?

Despite the frustration this causes there is nothing that can be done if this happens to you. No one is legally committed to buying or selling a home until contracts have been exchanged. It is not unknown for people to pull out of a transaction even when people are ready and waiting to affect an exchange. You are not entitled to any form of reimbursement for money that you have spent (e.g. on a local search, solicitors costs or survey report), or compensation in respect of the inconvenience, stress and other losses that you may have suffered. It is therefore advisable that you leave as many arrangements as possible until after contracts have been exchanged.

What shall I do about getting a mortgage?

The terms of the contract will usually provide for the payment of a deposit to the seller on exchange of contracts. The deposit is held by the seller’s solicitor, or may have been used as the deposit on the sellers related purchase. Either way the seller does not have access to this money personally unless this has been agreed.

Ideally, a buyer should pay a 10% deposit, where they are obtaining a mortgage advance for 90% or less towards the purchase price.

If you are simultaneously selling and buying, it is usual for whatever deposit is received from your buyer to be forwarded to your seller’s solicitor. It is rare (but not unheard of) for a seller to ask for deposit monies in addition to this. You may therefore be asked for additional funds ready for exchange of contracts if there is a large difference between the deposit being received and that being paid.

Do I need a deposit?

The majority of people need some kind of financial assistance when it comes to buying a property. Hunting around for the one that’s right for you can become a bit of an ordeal. There are no hard and fast rules in finding the right mortgage; it is simply a case of shopping around for the one that best suits your individual needs.

When do I need to arrange buildings insurance?

Unless the building insurance is being arranged by your lender or it is a leasehold property and the insurance is dealt with by the freeholder you must arrange buildings insurance from exchange of contracts as the property will be at your risk from that time. The amount of cover should be the estimated cost of re-building the property if it burns to the ground which is not necessarily the same as the current market value. If you had a survey or you are obtaining a mortgage your surveyor or the lenders valuer will usually have suggested a minimum amount of cover in their report.

What are disbursements?

Disbursements are expenses which are incurred during the Conveyancing process. These range from searches on the property you are buying, aimed at uncovering any potential problems to fees such as telegraphic transfer charges which banks charge to transfer the money for a transaction from one party to another on the day of completion.

How and when do we discuss completion dates?

The size of the chain often dictates how early and how easy it is to decide on a completion date as there may be a large number of people to coordinate.  It is often counter productive to discuss completion dates very early in the transaction and it is recommended that this decision is held over until all parties are ready.  The most appropriate time to discuss completion is when all parties are ready to exchange contracts.