Legal Tips for Residential Conveyancing in the UK

Residential Conveyancing can be difficult to navigate, so Aston Bond has put together some key legal tips to ensure you have a smooth experience when buying a home in the UK:

Instruct a Qualified Solicitor or Conveyancer

• Always choose a solicitor or licensed conveyancer who specialises in Residential Conveyancing. They will handle legal paperwork, conduct searches, and manage communications between yourself and the other party.

Understand Property Searches

• Your conveyancer will conduct searches with local authorities to uncover potential issues, flood risks and also planning applications which may affect the property). Reviewing these results is crucial before signing contracts.

Review the Contract Carefully

The contract outlines key terms such as the sale price and completion date, but it also contains various special conditions which are binding upon the parties. Ensure your solicitor reviews it for any unusual clauses or concerns.

Seek Indemnity Insurance for Minor Issues

• If certain legal issues arise, such as missing building regulations certificates, you can often resolve them by purchasing indemnity insurance, which protects you from future claims.

Organise Finances and Mortgage Approval Early

• Secure a mortgage offer and ensure your deposit is ready before the exchange of contracts. Delays in financing can stall the entire process.

Be Aware of Stamp Duty

• Depending on the value of the property and whether you’re a first-time buyer, you may be liable for Stamp Duty Land Tax (SDLT). Make sure you understand how much you’ll need to pay and when it is due.

Completion and Handover

• On the day of completion, the balance of the purchase price is transferred to the seller’s solicitor, and the keys are released upon receipt of the funds.

Post-Completion Matters

• After completion, your solicitor will handle the transfer of deeds and payment of Stamp Duty Land Tax. Ensure these steps are followed up to avoid issues later.

By following these legal tips and working with an experienced solicitor, you can make the conveyancing process smoother and reduce the risk of costly mistakes.

For guidance on Residential Conveyancing matters, please don’t hesitate to contact Aston Bond on 01753 486 777 to speak to our expert Conveyancing Team!