Conveyancing
Explained:
There are often questions asked about what happens during the Conveyancing
process and what some of the key phrases/terms mean. This guide will help to define
some of these key terms to support you through your Conveyancing transaction.
What is Conveyancing?
Conveyancing is the legal process involved in buying, selling or remortgaging a property. A Conveyancing supplier must be instructed to carry out the legal work on your behalf. For a Sale or Purchase, your supplier is responsible for safeguarding both yours and the lender’s best interests at all times during the process. They will liaise with the Conveyancer representing the other side to ensure they get answers to all questions on your behalf.
Your Conveyancing Quotation Explained
You should be aware that there is no set standard for the information that should be contained in a Conveyancing quotation. However, here are some of the frequently used terms that you may come across:
Legal/Solicitors Fee:
The fee that your Solicitor or Licensed Conveyancer will charge for undertaking the legal work involved in buying, selling or remortgaging your property.
Telegraphic Transfer Fee:
An electronic means of transferring funds. A payment made by Telegraphic Transfer arrives in the chosen bank account that same working day.
Online ID Check:
The online ID fee is a charge to check your name against your address as part of your Conveyancer's Anti Money Laundering procedures. It also checks signature verification, identity check and will include a sanctions check as part of the process.
No Completion, No Fee:
This is a guarantee that means if your transaction doesn’t complete for any reason, you will not be charged for your Conveyancer’s time. Please note that if any disbursements have been paid for (searches for example) then these cannot be refunded.
Second Search Promise:
If you are buying a house and the transaction falls through at no fault of your own, all searches that are usually required for a purchase transaction for your next purchase are free of charge (terms and conditions apply).
HMLR Registration Fee:
When buying a house, this is a fee that is charged for registering you as the new owner with Land Registry. Please note that if the property has never been registered at Land Registry, there may be an additional fee.
Our Conveyancing Services: Tailored to Your Needs
Buying a Property
Purchasing a home should be exciting, not overwhelming. We handle all the legal work—from local searches and contract reviews to mortgage checks and land registry filings—so you can focus on planning your move. We’ll also flag any potential issues with the property early on, giving you the knowledge to make informed decisions.
Selling a Property
When you’re selling, speed and accuracy matter. We ensure contracts are prepared promptly, enquiries are dealt with efficiently, and your sale progresses without unnecessary delays. Our proactive approach helps minimize hold-ups in the chain, getting you to completion as smoothly as possible.
Remortgaging & Transfer of Equity
Whether you’re refinancing, adding a partner to your deed, or restructuring ownership, we make the legal process straightforward. We’ll explain your options clearly and ensure all paperwork is correctly filed with the Land Registry.
Leasehold & New Build Properties
Leasehold transactions come with extra complexities—ground rent clauses, service charges, and restrictive covenants. We scrutinise all terms to protect your long-term interests, especially with new builds where developer contracts need careful review.
Frequently Asked Questions (FAQs)
- Does Finsso handle conveyancing directly?
Finsso Financial refers clients to regulated solicitors or licensed conveyancers through our trusted partner network. - How long does the conveyancing process take?
Typically 8–12 weeks, depending on the complexity, chain, and property type. - Do I need a solicitor or licensed conveyancer?
UK property transactions must be completed by an SRA/CLC-regulated professional. - What are property searches, and why are they needed?
They check for planning, flooding, drainage, and legal issues to avoid unexpected risks. - When do I pay fees?
Most legal fees are paid on completion. Some costs, like search fees, may be paid upfront.
6. What is ‘exchange of contracts’?
The legally binding stage where both parties commit to the sale, and the buyer pays a deposit.
7. What happens on completion day?
Funds are transferred to the seller’s solicitor. Once received, ownership changes hands.
8. Do I need to attend in person?
Most of the process is managed remotely, including ID checks and document signing.
9. Is Stamp Duty included?
Your conveyancer will calculate and pay SDLT to HMRC on your behalf.
10. Can you handle Help to Buy or Shared Ownership purchases?
Our referral partners are experienced in government-backed schemes and specialist transactions.
Disclaimer: Finsso Financials works with accredited conveyancing partners but does not provide legal services directly. All conveyancing work is carried out by independent solicitors regulated by the SRA or CLC. While we refer trusted professionals, we cannot guarantee specific outcomes or timelines. Clients should review all legal documentation carefully with their appointed conveyancer before proceeding.
Our Conveyancing Panel Referral Partners
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