Conveyancing is the legal and administrative process which ensures a house purchase is valid in the eyes of the law.
It begins when an offer on a house is accepted and finishes when you have the keys in your hand.
MortgageKey have existing relationships with a large network of professional conveyancers, sourced from leading legal firms
We provide jargon free advice to ensure you understand what everything means and the conveyancing process
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When it comes to the middle bit between an offer being accepted for a house and the keys being handed over -involving all of the legalities and paperwork – MortgageKey will ensure everything is managed and progressed, so you don’t have to.
This includes guaranteeing the transferring and ensuring the correct completion of deeds, contracts and other relevant documentation.
The legalities and laws behind the conveyance process are rather complex. It is possible to do it yourself, however, if a mortgage is involved, you will not be allowed, by law. Therefore, sourcing expertise is a wise option. Using a professional can ease your worries and save you time, allowing you to focus on other elements of the house buying process.
Both parties conveyancers will communicate throughout the process, proposing draft contracts and proposals until the deal is finalised and the contracts are exchanged.
The latter stage of ‘exchanging contracts’ is what legally commits both parties to the sale of the property, at which point a deposit is required.
Until then, the house purchase is not legally binding. This means that anything prior to the exchange of contracts can be cancelled with no obligations. If you decide to pull out once the contracts have been exchanged, you may automatically lose your deposit.
Your conveyance solicitor will liaise with the other solicitor to acquire copies of relevant documentation. They will also carry out and analyse any necessary local authority searches in relation to the property and address them.
Arranging completion dates is another aspect they will be responsible for. This includes transferring of deposits and the preparation and transferring of the completion statements. They are also obliged to submit a tax return and pay the stamp duty as well as forwarding on the documentation and deeds to the relevant people at the Land Registry and mortgage lender. Although your conveyancer will do the majority of the legal leg work, you will be responsible for, and expected to check certain documents and provide any monies or paperwork upon request.
After completion, your conveyancer will ensure that the final stages are all as they should be. They’ll make sure you receive all of your legal documentation and paperwork and have everything you need before handing you a bill for their work.
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