On PURCHASE we will:
 

  • Take your detailed instructions and give initial advice.

 

  • Deal with money laundering and identity check requirements.

 

  • Investigate title to the property, its plan, information provided on protocol forms and other documents and raise appropriate enquiries.

 

  • Arrange for searches to be undertaken with the Local Authority and with the Drainage/Water Authority. We will also arrange for an environmental search, a Chancel Repair Search as well as any other searches that we deem necessary.

 

  • Review any Mortgage Offer and advise you on the legal aspects. We are on the panels of most major lending institutions in the UK. In the rare event that we are not, we would liaise with the lender’s solicitors.

 

  • Consider the terms of the draft contract and negotiate favourable terms for you before we approve the same.

 

  • Draft the Transfer deed and send it to the Sellers Solicitor for their approval.


  •  Carry out pre-completion administration.

 

  • Report to you by way of a full Report on Title on the entire transaction and prepare and send to you a Draft Completion Statement.


  • Arrange for you to sign the contract and the Transfer Deed and pay the deposit required (usually 10%, but could be lower if your circumstances require that).

 

  • When all parties are ready, contracts are then exchanged (when both parties enter into a legally binding contract) and a date for completion is scheduled.


  • Update and finalise your Completion Statement; Submit a Certificate of Title to your lender (if purchasing with a mortgage) for draw-down of funds; and conduct final searches with the Land Registry and for bankruptcy.

 

  • Complete the purchase.

 

  • If applicable, prepare and file the stamp duty land tax return and pay any SDLT liability.

 

  • Register your proprietorship and any new charges with the Land Registry.


 

On SALE we will:
 

  • Take your instructions and give initial advice;


  • Deal with money laundering and identity check requirements;

 

  • Forward to you the Protocol Forms to complete carefully and return;

 

  • Unless unregistered, obtain Official Copies of Registers of Title and Plan from the Land Registry;

 

  • Request Redemption Statement from any lenders who have registered charges on the property;

 

  • Prepare and send to the Buyer’s solicitors a Draft Contract Package, containing a Draft Contract (drafted by us), your completed Protocol Forms and other relevant documents;

 

  • Usually, the Buyer’s solicitors will raise enquiries upon the Draft Contract Package and any searches that they may have undertaken, which we will refer to you and provide them with our Replies;

 

  • Review, amend (if necessary) and approve the Transfer Form;

 

  • When all of the documents are approved, prepare engrossed copies and forward them to you for execution;


  • Obtain updated Redemption Statements and prepare and send to you a Draft Completion Statement;

 

  • Once all outstanding enquiries and issues are satisfied, proceed to exchange of contracts (when both parties enter into a legally binding contract) and a date for completion is scheduled;


  • Reply to Requisitions on Title;

 

  • Update and finalise your Completion Statement and send it to you;​

 

  • Upon receipt of the purchase monies on the day of completion, account to you with the net proceeds after deductions, where appropriate.


 

HOW LONG WILL MY TRANSACTION TAKE?

 
Each transaction will vary according to individual circumstances. However, as a guide, the average process takes between 8-12 weeks.
 
Time scales will vary. For example, some transactions are chain free whereas others are dependent upon others in a chain; some people need mortgages and others do not; leaseholds usually take longer than freeholds.

A first time buyer, purchasing a new build property with no mortgage on average could take 6 – 8 weeks, whereas a leasehold purchase that requires an extension of the lease, can take significantly longer, between 3 - 4 months. In such situations additional charges would apply.

The Residential Conveyancing Process

Est. 2004

SOLICITORS

MORELAND & CO

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