Property Conveyancing is the legal process of transferring a property title from one person to another (buyer & seller) which involves a legal procedure normally carried out by the Solicitor or licensed conveyancer specializing in property matters. The Conveyancing department of Lloyds consists of experienced and competent staff headed by one of the partner's of the firm.
It is a recognized fact that buying, selling or re mortgaging property can be a very stressful time in your life. You may get lot of confusing or conflicting information about the prices and suitability of property, organizing viewing, practical problems in moving out or in, searches, legal work and chains involved in completion. That is were we come in and take your stress.
If you are selling a property, buying your first home, moving up the property ladder, buying commercial property and lease, assignment of lease or buying or selling business, we can offer you an experienced, reliable and efficient service at a reasonable cost.
Our aim is to complete the transaction smoothly and quickly as possible on receipt of written acknowledgement from you agreeing with the terms of business.
The benefit of instructing us is that:
- Our staffs are friendly and approachable.
- The quality of the service, our professional attitude and use of latest technology enables to proceed towards completion quickly.
- No completion, No fixed fee and you will only be responsible for our basic cost and disbursements.
- You will be provided with all information in relation to cost & disbursements, our services and guide to your conveyancing transaction including the details of the steps required to complete the transaction.
- You will be provided with a unique number for online access to track the progress on your matter.
- You will be kept informed of the progress on your matter by the fee earner via phone, SMS, email or post.
Generally the exact order of the events in the conveyancing process can vary. Every transaction is different. A cash sale to a chain free buyer can be completed quickly as compared to transaction involving a chain or lenders.
The process of conveyancing work starts when you accept the offer and thereafter instruct your solicitor to commence legal work. The solicitors for buyers and sellers will contact each other and seller’s solicitors will forward the contract documents, Hips and other supporting papers to buyer’s solicitors. The buyer’s solicitors will then raise the pre contract enquiries and carry out the searches. Normally this all work is carried out in three stages. Don't worry; we will be doing most of the stages for you!
Stage one:
The seller’s solicitor usually provides a package at the beginning of the process which includes:
- The draft contract
- Home information pack including title documents, energy performance certificate etc.
- Copies of previous title deeds, guarantees if any, chief or ground rent receipts etc.
- Seller property information form (Leasehold forms, if the title is leasehold).
- Fixtures, fittings and contents form, telling you what fixtures, fittings and other items are included in the price and which will be removed.
Buyer’s solicitor will check the details of the draft contract and other documents and carry out the necessary searches and raise queries with seller's solicitor. All the documents and information will be passed on to you to verify the same and check the draft contract yourself to ensure any agreements that you have made with the seller are included.
Stage Two:
Once the contract is agreed and all the outstanding issues are settled then completion date will be set and the contract will be exchanged. Remember that before the formal exchange of contacts any party can simply pull out. Once the contract is exchanged then the contract will become binding between the parties and enforceable at law. Normally the gap between exchange and completion is one week or is dependent on the agreement of the parties. Buyer’s solicitor will make sure that clear funds are available in the client account one day before completion from you and the lenders.
Stage Three:
On the day of completion the funds are transferred to the seller’s solicitors and the seller moves out of the property and hands over the keys to the buyer. Seller’s solicitors will redeem the existing charge(s) on the property and send the transfer document to the buyer’s solicitors together with title deeds.
The buyer’s solicitors will notify the transaction to the Inland Revenue and pay stamp duty (if payable) and lodge application with the land registry. On completion we will forward you the title deeds to be kept in a safe place.
Don't worry; we will be doing most of the stages for you! And the only thing you have to do is to instruct us to act for you. Pick up the phone or e mail us your instructions and we will take care of your worries. |
