A Property Solicitor (also known as a Conveyancer) is very important in the purchase of any property. They will assist you with contracts, documentation, your mortgage and much more, to help you complete the purchase of your new home successfully.
Prospect works with a team of well regarded, licensed Solicitors who work alongside our Transaction Support team and they will keep in regular contact with your vendor’s Solicitor. Working together and maintaining excellent communication throughout the process, gives your purchase the best possible chance of completing as quickly as possible.
Our Solicitors operate a ‘no sale, no fee’ guarantee, which ensures you don’t lose out on any money if your purchase fails to complete. This guarantee proves to you that our Solicitors will do everything they possibly can to ensure your sale goes through to completion!
Conveyancing is the legal process of transferring the ownership of a property and most people appoint a Property Solicitor/Conveyancer to do this for them. So, what is the typical conveyancing process?
For more information about Prospect Conveyancing, or to receive an instant quote, please call our Conveyancing team on 0870 142 2020.
If you’re also selling a property, click the button below to learn about the Conveyancing process for selling.
Your Property Solicitor will provide you with a formal instruction form and other documents for you to complete. These will provide them with all the details about you and the home you are buying, that are needed for the purchase. You will need to provide proof of identification and residence for each person buying, such as a passport and driving licence.
Once your sale has been agreed, you should inform your Solicitor. Prospect will then send our sales letters and memorandum of sale to you, your Solicitor, your buyer and their Solicitor.
Your Solicitor will liaise with your mortgage lender and arrange a mortgage valuation prior to you purchasing the property. They will also instruct a professional to complete any searches and surveys that need to be completed before you purchase your new home.
Your mortgage lender will send you and your Solicitor the mortgage offer. He/she is responsible for explaining the terms and conditions of your mortgage offer. The contract, documentation and Mortgage Deed will then be sent to you for approval and signature, after which you return it to your Solicitor.
Exchange of contracts takes place between the two parties’ Solicitors, usually by telephone. Following exchange, your signed contact is forwarded to your vendor’s Solicitor and they will send their party’s signed contract to your Solicitor. At this stage, you and your vendor will be legally committed to the transaction. Usually at this stage a date will have been agreed for legal completion. Your solicitor will then complete any final searches required by your lender and prepare the completion statement, requesting any additional money from you.
Following the exchange of contracts, your purchase is complete and you officially own your new home!