Conveyancing Explained for First Time Home Buyers

The process of buying your first home can be overwhelming for just about anyone. Finding the perfect home is just the beginning. The real struggle comes when dealing with the mortgage lenders and the piles of paperwork, which can make anyone feel like they’re in a little bit over their head.

This is why conveyancers are such a valuable asset in assisting you through this process. They play a vital role in simplifying the home buying process, and no first time buyer should attempt the purchase of a home without one. So if you’re considering buying a home, the first step should be to learn about the conveyancing process, and how it’s handled.

What is Conveyancing?

Property Conveyancing is the legal process of the transferring of ownership of a piece of property from a seller to a buyer. It can begin as early as the acceptance of your offer by the buyer, and it ends once the sale has been completed.

Who Normally Handles the Conveyancing Process?

Conveyancing is usually handled by property solicitors or licensed conveyancers . It’s also possible to take care of the process on your own, although this is not normally advised. This is because without the proper training it can be a rather complicated process, as well as the fact that many mortgage lenders will not deal with you directly and will only do business through a licensed professional.

When choosing whether you want to use a solicitor or conveyancer, it’s a good idea to first learn the differences between them:

· Licenced Conveyancers – Are individuals whom are licensed by the Council of Licensed Conveyancers (CLC). They’re specialised property lawyers who have been trained in all aspects of property law.

· Property Solicitors – All solicitors are regulated by the Solicitors Regulation Authority, as well as by the Law Society. Solicitors, like conveyancers , also have extensive training in property law. The main difference is that solicitors have been trained in other aspects of law as well, and therefore can deal with a broader range of legal issues. Due to the additional training, a property solicitor’s services are usually more costly.

What Does a Conveyancer Do?

Throughout the house buying process your conveyancer will handle a wide range of tasks. Some of their primary duties include:

·Handle the HM land registry and make sure that your home is registered properly

·Help with the Exchanging Contracts needed to complete the sale

·Review the mortgage contract that you receive from your lender

·Arrange for the payment of the Stamp Duty Land Tax

·Provide legal guidance throughout the conveyancing process

·Collect and transfer the money needed for the purchase of the property

Finding the Right Conveyancer for Your Purchase

Being familiar with the conveyancing process is a good first step in the right direction when buying your first home, but it’s equally important that you choose the right conveyancer for the job. For those in the Maidstone, Kent and South East England area, Andrew Lee & Co is the ideal choice. With over 30 years of experience, when you put your trust in us, you can be assured that your property purchase will go smoothly.

If you have any questions regarding our conveyancing services, please contact us on 01622 750 101, or by email at info@a-lee.com.