Article created by Christian Duncan, Director – Mortgage and Protection Adviser
Last updated 5th January 2024
Table of Contents
A Guide to the Conveyancing Process
At the Manchester Mortgage Centre we understand that the conveyancing process of purchasing, selling & re-mortgaging a property can be daunting and to make you aware of the process we have put together this helpful guide.
Once your property has been found and the offer is accepted you can start the conveyancing process. Your Mortgage Advisor will use the a portal to instruct the conveyancer, certify your ID and upload it securely to the conveyancer who will be dealing with your case. You will have a named conveyancer who will deal with your case from start to completion.
Returning the Welcome Pack from the Conveyancer
All the conveyancers on the panel have 24 hours to make verbal contact with you, to check all your contact information. From there your conveyancer will send
you within 48 hours either via email or post the Welcome Pack. It is important
to understand that until the Welcome Pack is returned your conveyancer cannot start acting on your behalf and the process cannot begin.
Cancellation Transaction Cover
All residential clients purchasing a property receive FREE abortive transaction cover, which is our gift to you. The product covers you up to £600 of legal, survey and arrangement fees if :
· The seller pulls out
· There is a critical illness or death of any of the purchasers
· Gazumping of £1k or more
· If there is a 10% or more down valuation
· If there is damage to the property equating to 10% or more
Searches cannot be ordered until the Welcome Pack is returned, and the sellers conveyancer has sent the draft contracts including plans. Once they have been returned, your conveyancer can move to the next part of the process. At this time, you will be asked for a case opening fee, which can be between £200 – £300 dependent on the firm.
Your conveyancer will receive the Mortgage Offer in writing from the mortgage lender. It is now common practice for conveyancers, not to order the searches, until the mortgage offer is received. This is for your protection. If the mortgage offer collapses after the searches have been ordered you might be liable for the search costs.
Searches on the property & the surrounding area are needed to be carried out to ensure there are no issues. Many of the searches are relatively quick to be returned, however the Local Authority Search can take some time to complete. They average from between 15 – 60 working days to complete, although some local authorities may offer an expedited service.
Raising & Receiving Enquiries
Once the searches are returned, your conveyancer will raise enquiries with the seller’s solicitors to check that the property is not subject to any restrictions. Once these enquiries have been raised, your conveyancer will have to wait for
a response from the sellers solicitors. It is worth noting that this is a back and forth process which is repeated more than once, until your conveyancer is legally satisfied that all the enquiries have been fully completed.
When the searches and enquiries have been fully satisfied you will be sent all the contracts, which will need to be signed and returned to your conveyancer promptly.
Exchange & Completion
Once signed and returned, a date(s) can be set for exchange and completion. Keys to the property can only be collected from the estate agent after completion. (Please note exchange and completion do not necessarily occur on the same date).
This document tries to be as thorough as possible to explain the conveyancing process, however no case is the same and therefore all timescales indicated are subject to the individual circumstances.
This document is aimed as only a guide to the conveyancing process.