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Conveyancing Process What You Need To Know UK
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Are you thinking of buying a house or selling? • In this video, we will guide you through the different stages of the conveyancing process in the UK and explain everything you need to know about how it all works. • Conveyancing is an inevitable, legal part of the house buying and selling process and involves the need for conveyancers, estate agents, mortgage company and/ or financial advisors. Whilst it may seem like a complicated process, conveyancing can be broken down into three different stages. • It is best to arm yourself with as much information about the conveyancing process as possible, in this way it will seem far less stressful when it comes to selling or buying a home. • Make sure you get guidance and advice from a professional to help you along the way - if anything should go wrong, you can be covered by their insurance. Learn more here: https://www.moveiq.co.uk/buying-a-pro... • PRE-EXCHANGE • At this point, you need to instruct solicitors and provide their contact details to the selling agent. The estate agent should give your solicitors a memorandum of sale with details of the property you wish to buy, including the agreed price. • We can provide you with a quote from a solicitor for free: https://www.moveiq.co.uk/resources/bu... • You may also require a mortgage, so you will need to speak to a financial advisor or mortgage company and start the application process for a mortgage. The mortgage company will want to carry out a mortgage evaluation of the new property and it is advisable that you get a survey done on the property too. • We can help to connect you with an advisor here: https://www.moveiq.co.uk/resources/bu... • Your solicitor will draft contracts and will send you a Property Information pack, which will include a Fixtures Fittings form for you to complete. • And finally, a completion date will be set and agreed by all parties in the chain. You should have your formal mortgage offer in writing also. • EXCHANGE OF CONTRACTS • By now you will have signed the mortgage deed and deed of transfer and these are sent to the seller's solicitor - this marks the exchange of contracts. • At this point, your deposit is sent to the seller's solicitor and your solicitor should give you a completion statement showing everything you need to pay on completion, including legal fees, land registry and stamp duty. • COMPLETION • At this final stage, your solicitor is in charge of transferring your mortgage money to the seller's solicitors and all final paperwork will be transferred to the appropriate party. Your solicitor will register you as the new owner with the land registry and informs your mortgage company. Now all that's left is for you to move in and enjoy your new home. • FIND OUT MORE • Learn what to expect in the conveyancing process here: https://www.moveiq.co.uk/buying-a-pro... • Discover our guide to surveys: https://www.moveiq.co.uk/buying-a-pro... • Learn what to expect in the Fixtures and Fittings form: https://www.moveiq.co.uk/buying-a-pro... • Find out how to manage a property chain: https://www.moveiq.co.uk/buying-a-pro... • Did you find this video helpful? If you have, make sure to subscribe so you don’t miss the next one! https://www.youtube.com/c/MoveiQ?sub_... • Find all of our property advice and top tips over on our site: https://www.moveiq.co.uk/ • #ConveyancingProcess #ConveyancingGuide #UKProperty
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