Buying a house, particularly if it’s your first, can seem like a daunting process. Many people feel overwhelmed about where to start and what to expect from their conveyancer.
Conveyancer is the name we give to the lawyer who advises you on the purchase or sale of a property.
Below we’ve outlined some helpful steps you can take to ensure that everything progresses as smoothly as possible plus some details on what the process involves, and what a realistic timeframe for a house purchase looks like.
Starting out: Preparing your documents and getting real about timescales
There is no way around it, buying a property requires a lot of documentation both in terms of information related to the property, but also in verifying your identity and financial position.
Getting all your paperwork together while you are looking for somewhere to buy could save you a lot of time once you’ve made your decision. A quick checklist of the essentials is below:
- Mortgage agreement in principle
- Bank account details and last three months statements
- Last three months’ utility bills
- Last three months’ pay slips
- Your last P60 form
- ID such as your passport
When instructing your conveyancer you should ensure that you feel comfortable with the service they offer and the fees they charge.
In the interests of informed choice, conveyancers are required to display key information about price and service on their website. They are there to help guide you through the legal process. Make sure that, at any stage, if you don’t feel clear on what’s being asked, or you’re signing up to, then ask.
For their part, conveyancers often report that clients have very optimistic expectations of how long the process takes.
The average property purchase in the UK takes around 14 weeks. That allows time for conveyancers to be appointed, searches and legal work to be undertaken, contracts agreed and exchanged and completion to take place.
That also assumes a fairly straightforward transaction with no hiccups in the chain of buyers and sellers.
What’s involved in the conveyancing process?
The conveyancing process involves the gathering of lots of documentation about the property you are buying.
These are done through searches of various official databases, and other investigations, called enquiries.
Even the most straightforward conveyance will have the odd quirk that will require attention, such as no planning permission for an extension done by the previous owners, a restrictive covenant that prevents you from living out your country dreams by keeping chickens in the garden or the property lying in an area at risk of flooding. These are all genuine scenarios.
Then there are complications that often arise from having, say, a shared driveway or a piece of land where it’s not clear whether you or the neighbours will own it.
It is very important to you, the buyer, that any such issues are found and understood, and perhaps even corrected, before you finally commit to spending a vast amount of money. The property must be right for you.
Verifying your identity
Your conveyancer also needs to verify you are who you say you are. They are legally required to check your identity and your source of funds (beyond any mortgage) because conveyancers are under very strict rules to prevent money laundering and other types of fraud.
It’s part of an international effort to combat crime and terrorism, so while it might feel like a lot of boring paperwork, it is really important stuff.
Managing your expectations around completion time
Also, your conveyancer can only progress your matter as swiftly as other parties – such as the lenders, the search providers and the other side’s lawyer – allow. And then there is the dreaded chain, which is inherently difficult to align. Sometimes, it is simply out of your lawyer’s hands to speed things up.
So don’t be surprised that your conveyancer is unable to guarantee a date for completion when you first instruct them. Until the contract is received, searches applied for, enquiries raised and the finance is in place, it is difficult for them to give anything concrete.
Of course, a good conveyancer should tell you all of this upfront. The most common cause of complaint about the house buying process is a lack of communication, so find out from your conveyancer how they will keep you up-to-date.
Some will use email, while others now have apps, and client dashboards to give you real-time updates. Emphasise the importance of this to you. Equally, if you know you’re going to be away or out of contact at any time, do make sure your conveyancer knows in advance.
The legal work to make sure you own your home can sometimes seem like a frustratingly slow process when all you want is the keys in your hand.
However, trust that your conveyancer wants happy clients, moving quickly, just as much as you do and that they are working to protect your interests along he way.
For further information, please visit: https://www.clc-uk.org/consumers/
Stephen Ward is director of strategy and external relations at the Council for Licensed Conveyancers
