First-time buyer's guide

Doing the paper work

The legal work to transfer a property is called conveyancing.You will need to have a solicitor or licensed conveyancer to carry out the legal work involved in buying a property. (For simplicity, we will refer to solicitors and licensed conveyancers as conveyancers). Amongst other things, the conveyancer will arrange for you to sign the mortgage deed (or standard security in Scotland).

A conveyancer is also needed to carry out some checks for the lender, such as confirming that he or she is satisfied with the title to the property. Online conveyancing services are available but it is usually easier to hire a conveyancer direct. They will guide you through the process, speak to the seller’s conveyancer, liaise with your mortgage lender and the estate agent, and make sure you understand the details.

Choosing a conveyancer

You will have to work closely with your conveyancer to make sure you feel happy with their approach. Ask for personal recommendations from friends and family or your mortgage lender or estate agent.

Convey4u offer a conveyancing comparison tool which will allow you to find and compare quotes for conveyancers in your local area. Find out more.

How much will it cost?

Most conveyancers will give you a fixed price for conveyancing work before they start. There will also be a number of search fees, so make sure you know exactly what is included when you get quotes.

What your conveyancer does first

As soon as you appoint a conveyancer, they will:

• Get in touch with the seller’s solicitor to find out more about the property you want to buy – this includes things like
checking that everything is in order with the registered title
• Get copies of any supplementary deeds that may contain restrictions that could affect you living there
• Get property information forms from the seller – these detail some of the past history of the property
• Get copies of any guarantees that benefit the property
• Get copies of planning documents for the original construction if the property has been built recently, or for any
extensions and structural alterations
• Obtain a local authority search and searches covering any relevant environmental issues – things like plans for new
roads or major buildings close to your property and details of the planning history – most solicitors usually insist on
the fee for searches being paid upfront

Once all the research is finished, your conveyancer will send you a report – called the pre-contract report.

Tips

Remember that the basic rule of buying a property is caveat emptor: or buyer beware. This means that it’s up
to you to check that you are happy with the contract before you exchange. That’s why you need to keep track of what
your conveyancer is doing – and make the most of their knowledge and expertise.
If you don’t understand anything, ask well before contracts are exchanged. Once contracts are exchanged, there is no
turning back.
If you want any extra work done to the property before the sale goes through, or a reduction in price, ask
your conveyancer to negotiate this with the seller’s conveyancer and estate agent.

If you are buying a leasehold property

Many flats and some houses are leasehold properties. This means that, rather than owning the property outright, you just buy a lease for a set number of years. If you are buying a leasehold property, you need to understand all the implications and obligations, and your conveyancer will need to do some extra work, which may mean a higher fee.

• Make sure that the lease is in order. Ensure it complies with at least the minimum standards laid down by the Council
of Mortgage Lenders.
• Make sure you understand how the property is managed. There might be a tenants’ association or a management
company.
• Find out how much the ground rent and service charges are. The conveyancer will also check that these are paid up
to date and find out whether there are any major spending plans for the near future.
• Check you know what the service charge covers.
• Check the lease to find out how repairs are done – and what you will be responsible for.

Timing tip

The conveyancing process can take some time, but make sure you stay in touch with your conveyancer so you know
exactly what’s going on and what you need to do when. Find out upfront when you will need to make payments, so
that you can make the arrangements in good time.