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A transfer of equity occurs when a property owner wishes to change the legal ownership of the property. Reasons include marriage, divorce and tax planning.

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The Conveyancing
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Conveyancing in your area Q & A's

Profile photo of Lorraine Imhoff

By Lorraine Imhoff

Ask Lorraine a question lorraine@homewardlegal.co.uk

Updated: 17/07/16

Successful conveyancing is as much about having a rounded understanding of the practicalities involved in buying and selling a property as it is about a thorough command of the legal process.

Below we feature some recent common questions asked by home movers.

Q.

We need a discount conveyancing quote. How do I get a quote?

A.

The lack of clarity surrounding this point catches out many buyers, and can leave them paying far more in conveyancing fees than they budgeted. Many firms promote 'the cheapest conveyancing quotes'. Unfortunately additional costs are often hiding in small print. Any costs needs to be fair and only come into force where your lawyer must perform additional tasks for you, which could not be anticipated at the start of the process. Get a quote using the Homeward Legal quote calculator for the property you are buying.

Q.

How much will my conveyancing searches in the UK cost?

A.

Searches vary in cost, depending on the specific searches which have been ordered and the local authority in which the property is located. Some lenders insist on 'official' local authority searches which may cost slightly more as they cannot be sourced through a personal search agent.

Homeward Legal show the full cost of searches as part of the conveyancing quote. These searches are disbursements meaning they are charged to the home buyer at cost.

Q.

To complete on our purchase as soon as possible, how can we ensure we get a fast conveyancing service?

A.

The key to faster conveyancing is to instruct a proactive, communicative property lawyer. However, there are several things you, as the purchaser, can also do to get moving sooner. These including, asking for property searches to be ordered immediately, responding to your property lawyer by phone, fax or email wherever possible and getting your mortgage offer in place.

Q.

When should I book the removal company?

A.

Many people are tempted to leave this until the last minute for the understandable reason that they may not be absolutely sure of their completion date. They may even be 'jittery' about whether completion is going to happen at all. As some removals companies charge a non refundable deposit or cancellation fee, home movers are often tempted to leave this to the last minute.

However, movers can end up in with difficulties finding an available removals company at the last minute and may end up spending more money due to having less choice.

Best advice is to identify a company early, negotiate a best price and ensure that there is no cancellation fee or, at the very least, this fee is not applicable with reasonable cancellation notice.

Q.

Local authority searches add to the cost of moving but what is there value?

A.

The local authority search is a set of enquiries made of the local authority's records. It relates planning and

building control records, roads and highways, local development plans and so on. It is worth mentioning however, that the search only relates to the property you are thin king of buying and does not report on any records affecting neighbouring or nearby properties.

It is a search of the subject property only and does not cover neighbouring properties, so for an example it would not reveal planning applications relating to properties or land in the area. A separate search, known as a 'Plan Search', would be needed for this.

The search is a key part of the conveyancing protocol as the information is deemed relevant to the purchasers interests. Mortgage Lenders insist on this search being carried out, at the expense of the buyer naturally.

However if you are a cash buyer you do not have to have this search and you should inform your solicitor if that is the case.

Q.

Which environmental factors will affect land in the UK. Are they an issue?

A.

Many of contaminants can impact residential property in the UK. Contaminants including proposed erection of mobile masts will be considered as part of the environmental searches.

Q.

What are conveyancing searches in relation to?

A.

Conveyancing searches are a commonly-used bundle of queries carried out for the buyer. Buyers should be aware that, searches cover solely legal-related matters.

Q.

How early do we need to instruct a conveyancing solicitor in the UK?

A.

Whether you are buying or selling in the UK, earlier is preferable, as the legal work can start very early in the process. Promptly instructing a solicitor for your UK transaction can reduce any chance of the other side pulling out.

Q.

Are searches fees or disbursements?

A.

Each fee and disbursement should be clearly stated on a conveyancing quote, with any possible extra costs clearly listed. These costs are disbursements not fees, and is passed on at cost.

Q.

We are taking out a mortgage with the Royal Bank of Scotland, what do I need to check?

A.

Recently, a number of lenders have reduced the number of firms on their approved panel, potentially creating higher conveyancing costs for buyers. We, however, can act on behalf of most mortgage lenders.

Q.

How can I find out what local authority my new home is in?

A.

During the course of the conveyancing transaction your solicitor will make a number of enquiries of the local authority. These enquiries are known as 'searches' and their findings will be reported back to you in the 'Report on Title'. Prior to submitting searches your solicitor will identify the correct local authority.

You may wish to identify the relevant authority in advance however, as it will have a bearing on things like council tax, local services and so on. Visit the Government website https://www.gov.uk/find-your-local-council which can identify the relevant authority from a postcode.

Q.

Would getting a house survey be advisable if we are purchasing a property?

A.

It is firmly advised that all purchasers in the UK book an inspection. There are a range of defects that can affect a property. These can include cracked roof tiles. These will not be reported on by a solicitor.

 

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