What is Conveyaning?
Conveyancing is the term used for the legal work that takes place when purchasing a property. A Conveyancing Solicitors will do this work which usually involves requesting various searches (flood risk, coal mine, environmental searches etc), removing and/or applying a charge from the Mortgage lender to the deeds of the property, raising any points with the lease, checking that building regulations are in place for things like extensions or conversions and so on.
Which solicitors can do the conveyancing?
Many lenders have a list of solicitors they will allow to do the conveyancing. This list is referred to as a panel. The general rule of thumb is that high street Mortgage lenders usually need a firm of solicitors who have at least 2 partners (1 to act on your behalf and one to act for the lenders) in addition to adequate insurance in place. Other more specialist lenders tend to need at least 4 partners within the firm.
We can help you to obtain a competitive quote from a firm of solicitors who are on most lenders panels, you can obtain a quote (there will be no follow up calls from us or the solicitors by filling out your details) from our page here.
How much do Conveyancing Solicitors cost?
Typically you would look to pay anywhere from around £600 upwards for the legal work in addition to around £250 for the searches. This will vary however depending on the purchase price and whether the property is a freehold or leasehold property and the type of conveyancing firm you use.
The biggest variable on the price will likely be whether you use an online conveyancing company a small local firm of solicitors on the local high street or a large firm of solicitors. Most people tend to use one of the first 2.
Why not get yourself an online conveyancing quote using our comparison system? You can use this system free of charge to get a quote (there will be no follow up marketing calls). You are also more than welcome to use us for the cheap conveyancing without being tied to us for Mortgage Advice.
How long does the conveyancing process take?
It can take anywhere from 3 weeks up to 3 months, typically however you would be looking at around 8 weeks or so for a fairly straightforward purchase. The reason it can vary so wildly is down to the parties involved and the property.
If you, your conveyancers, the vendor and their conveyancers all work together and the transaction is fairly straight forward everything can be done within the month. Invariably however, questions will arise that can take time to get answers to.