Conveyancing Guide
Compare over 200 conveyancers and solicitors
What is Conveyancing?
Conveyancing is the process of transferring ownership of (or title to) a property from one owner to another.
Whenever you buy or sell a property or apply for a mortgage, either because you are moving house or are remortgaging in order to find a better mortgage deal, you need to appoint a conveyancer to look after your legal interests and ensure everything progresses to completion without any unnecessary hitches.
A typical conveyancing transaction involves the exchange of contracts followed by completion. It is designed to ensure that the buyer is notified of any restrictions in advance of a purchase and secures the title of the property and land together with the rights that run with the land.
moneysupermarket conveyancing is an online conveyancing referral system. It will find you the cheapest exact quote from our highly professional panel of over 200 conveyancing solicitor firms.
The Conveyancing Process
Stage 1 - Before the exchange of contracts
The contract is the legally binding document that commits all parties to the transaction. Until contracts are exchanged, both the buyer and the seller can walk away without any contractual liability.
What happens?
- The contract is provided by the seller's conveyancers and negotiated
- Enquiries are made and any outstanding issues with the seller are settled such as obligations for the completion of work on the property
- The survey or valuation report is completed and accepted by the buyer and the lender
- The formal mortgage offer is received (if applicable)
Stage 2 - Exchange of contracts
When both solicitors are satisfied that their work on the contract is complete, they will ask their respective clients to sign their copy of the contract document and the mortgage deed (if applicable) and obtain any deposit to be paid.
What happens?
- A completion date for the sale is agreed which is included in the contract
- The contracts are exchanged
- Final accounts are prepared
- Final Land Registry searches are made.
Stage 3 - Completion
The completion date may be anything from the same day as the exchange to several months later, depending on the circumstances of the sale.
What happens?
- Stamp duty is paid to the Inland Revenue
- The transfer of ownership is registered at the land registry
- Keys to the property are handed over
moneysupermarket Conveyancing is an online conveyancing referral system. It will find you the cheapest exact quote from our highly professional panel of over 200 conveyancing solicitor firms.
You can instruct them at the click of a button and your conveyancing can start immediately.
Costs
You can rest assured that:
- The fee you are quoted will be the cheapest available. moneysupermarket Conveyancing is frequently up to 50% cheaper than going direct to a solicitor
- Your solicitor will not charge you a fee if your sale, purchase or remortgage does not go ahead
- All solicitors agree to rigorous service standards specified by moneysupermarket Conveyancing and we constantly monitor service quality to ensure all conveyancing work meets our high standards
- Your solicitor can start work for you immediately. There is no need to attend meetings or send them a letter of appointment
