Conveyancers are essential for moving house.
Working with a good one can make your move faster and smoother.
We’ve explained what a conveyancer does in this blog.
What is a licensed conveyancer?
A conveyancer is someone who assists with the legal work behind a house transaction. Both the buyer and the seller will usually have one.
They are licensed by a professional board after gaining the relevant qualifications, including:
- Level 4 Diploma in Conveyancing Law and Practice
- Level 6 Diploma in Conveyancing Law and Practice
- A license with the Council for Licensed Conveyancers (CLC).
They will have also have professional indemnity insurance.
What is a conveyancing solicitor?
A conveyancing solicitor is similar to a conveyancer, but with one slight difference. This professional has a broader expertise in property law.
This means that they can help with extra issues that pop up, unforeseen. This could include remortgaging, lease extensions, or transfer of equity.
A conveyancing solicitor usually charges more because of their wider expertise.
Differences between a solicitors and conveyancers
A solicitor has a wider range of legal knowledge. They usually charge more for this reason. Meanwhile, a conveyancer specialises only in property transactions.
A solicitor cannot act for both the seller and buyer, according to the SRA. A conveyancer, though, can represent both parties.
Conveyancer tasks
Organise local searches
Conveyancers research information held by the council about the property, including:
- Planning decisions
- Conservation orders
- Building regulation matters
- Utilities.
And more.
Legal paperwork
Buying a house requires a lot of paperwork.
If there’s any you haven’t done yet, then your conveyancer can guide you on how to do this. Examples include:
- The Property Information Form (TA6)
- The Fittings and Contents Form (TA10)
- The Leasehold Information Form (where applicable).
Check progress and keep relevant parties informed
Your conveyancer will communicate with all the relevant parties as the weeks pass.
This includes the estate agent, along with the other party’s solicitor.
Conveyancers coordinate on unanswered questions. And they’ll ensure everyone is on schedule.
Carry out any checks
Surveys may bring up problems with properties.
Conveyancers will investigate these further. Or they can take it to the relevant party, such as the other person’s solicitor.
Agree on exchange and completion dates
Once all the checks are completed, it’s time to exchange contracts.
This is when the transaction becomes binding. The two conveyancers will then agree on a completion date.
The seller will move out on this date, and the buyer will get the house key.
Transfer funds
Once everything else is done, all that remains is to transfer the funds.
If you’re the buyer, this involves sending your money to the seller.
If you’re the seller, you will need to receive your payment. And if you’re in a chain, a simultaneous purchase may occur.
Conveyancing fees
Conveyancer fees can vary between regions and professionals.
Prices are higher when you’re buying a property, with around £2,500 being a typical amount.
Meanwhile, when you’re selling, you can expect around £1,500 as a usual figure.
Some conveyancers charge as a percentage of the property value. In this case, you’ll see major variation in the prices.
Conveyancing time frames
According to several independent online sources, conveyancing takes around 12 weeks.
This process may go faster, at around 8 weeks, if everything is according to plan. Or it may take longer with more complicated deals, at around 16 weeks.
Refunds for conveyancer errors
If you think you’ve received a poor level of service, contact the Legal Ombudsman. They could help you get back the money you paid for your conveyancing services.
If your conveyancer’s mistakes has caused the sale to fall through, you could take them to court.
Most licensed conveyancers have professional indemnity insurance to cover this.
