Residential Conveyancing

The buyer’s solicitor conducts searches as a crucial step in the conveyancing process when purchasing a property, working with the local authority and other organizations to gather information about the property you are purchasing.

If you are purchasing a property with the aid of a mortgage, your lender will require that property searches are carried out. While they are not compulsory if you buying without a mortgage, as they can reveal crucial information that could impact your decision to go ahead with a purchase we are unlikely to be able to act for you without searches being carried out.

There are eight different types of property searches, and these are listed below:

Local Authority Search. This search is a query into the local area and land where the property you are looking to buy is located.

Planning searches. These searches query any existing planning consents or planning applications within a 250 metre radius of the property.

Environmental searches. These provide information on the risk of flooding, subsidence, and any previous land usage and environmental issues within a 500 metre radius of the property.

Drainage and water search. This search reviews the drainage systems around the property and reveals if the property could be at risk of being adversely affected.

Flood risk searches. If the property you want to purchase is near water, this search will reveal how high the flood risk is.

Chancel repair search. This search checks to see whether the property you are buying has a liability to the local parish church for repairs.

Mining searches. It’s important to know what lies beneath a property before purchasing it. This search checks for any previous mining activity that may put the property at risk of subsidence.

Land registry pre-completion search. This search checks that the person or people selling the property are legitimate owners of the property and that they are not bankrupt.

Most people will instruct a solicitor once they’ve accepted an offer on a property. To reduce delays in the residential conveyancing process though, it’s a good idea to choose the conveyancer you intend to use before you even list your property.

A residential conveyancing solicitor or licensed conveyancer is the person who keeps your property sale or purchase moving along. However, all too often, instructions are made in a hurry. That’s why it’s important to do a little research beforehand.

There’s a lot to be said for choosing local residential conveyancing solicitors. They’ll know the area and be experienced at communicating with the local authority and other solicitors.

A local search provides information about any roads serving a property and if there are any planning permissions and applications (including those that have been granted, issued or refused).

The local search only searches within the boundaries of the property. It will not show any issues outside of this area. If you want to know whether there are any planning applications or consents relating to the area outside the boundary (within 250 metres), you will need an additional planning search.

A local search can be quite a weighty document. It is the job of your appointed conveyancing solicitor to review the local search, bring any issues to your attention and raise any queries with the seller’s solicitors.

Stamp Duty Land Tax (SDLT) is a tax you must pay when purchasing property or land over a certain price in England and Northern Ireland. You must pay the relevant SDLT when you buy a freehold property, a new or existing leasehold property, a property through a shared ownership scheme or transfer land or property in exchange for a payment. For example, if you take on a mortgage or buy a share of a property, SDLT will apply.

There are various thresholds for when SDLT becomes applicable, although these can be subject to change.

How much SDLT you pay depends on whether the land or property you are purchasing is residential or non-residential or perhaps mixed-use. It’s worth keeping in mind that there are different rates if you’re a first-time buyer, if you already own a property and are buying another one, or if you’re not a UK resident.

Your solicitor will advise you, but if you’re unsure, HMRC’s Stamp Duty Land Tax calculator is a helpful tool.

The completion date is agreed by both parties during the conveyancing process and is inserted into the contract before exchange of contracts can take place.

Exchange of contracts is when the buyer and seller become legally bound to complete the transaction. The buyer hands their deposit to their solicitor, and if either party breaks the conditions of the contract, there are financial penalties. However, this is rare.

Essentially, the completion date is when full payment is made to the seller, and property ownership is transferred to the buyer. It is also the day that moving takes place, so everything must go to plan.

The completion date can be at any time and date agreed by the two parties (bearing in mind there are often more people in the chain). Given the excessive task of moving, the completion date is usually a couple of weeks after the exchange of contracts.