Published 22 Sep 2020

The Conveyancing Process - Buying Your Home

Buying a new home is an exciting time but can also be quite daunting as there is a lot of legal paperwork to sort out. Through this article, our panel solicitors Direction Law give you an idea of what takes place in the conveyancing process and the timescales involved.

When you buy a house there are normally several people involved - an estate agent, developer or housing association, a mortgage broker, a surveyor, a mortgage lender and a solicitor. Everyone involved in the process is working towards the same goal - to get you moved.

Watch the video below to help prepare for your buying your home and get up to speed with the conveyancing process and expected time frames involved.

When purchasing a property, there are many steps before you reach the celebratory 'completion stage'.

Between exchange and completion, your solicitor arranges for the lender to send them the mortgage monies and collects the final balance due from the buyer.

On the day of completion the money is sent to the seller’s solicitor and at the point it arrives the purchase officially completes. The seller’s solicitor calls the agent to release the keys and then you can finally move into your new home.

A lot of research and planning is required when buying a home, and it is important to find a solicitor that is open and easy to communicate with. As long as you're made aware of what is to come at each step, the process can be smooth sailing. Our explanation within this video helps to breakdown the conveyancing process and has hopefully equipped you with the information needed to plan for your move and enable the buying process move forward as stress free as possible.

Need help choosing a good Solicitor for your home purchase?

 

Find a home with Peabody.

If you're looking to buy a home, we have a selection of Shared ownership and Private sale homes around London to meet your needs.

FIND A HOME

Direction law logo


Related articles...

Published 06 Apr 2021

The Mortgage Guarantee Scheme - More Good News for First Time Buyers

The housing market has remained surprisingly resilient over the past... 12 months, with prices in most areas continuing to rise. In response, the Government has launched it's latest initiative ‘The Mortgage Guarantee Scheme’. Read more

Published 12 Mar 2021

Hackney Renters Become Hackney Homeowners with Peabody

For London renters, attempting to get on the property ladder can... be a step they simply can’t afford to take without having to make sacrifices on elements of their property search including the condition or location of a property. Read more...