Conveyancing
Residential Conveyancing in Croydon
Buying, selling or remortgaging a home involves important legal and financial steps. Contracts need to be checked, searches reviewed, enquiries answered and funds transferred correctly before a transaction can complete.
Arroxton Solicitors provides residential conveyancing services for clients buying, selling and remortgaging property. We handle the legal work, explain what is happening at each stage and help you understand any issues that arise along the way.
Whether you are buying your first home, moving to another property, selling or arranging a new mortgage, our aim is to make the legal process clear and straightforward.
Speak to us about your property transaction. Call 020 4548 5196.
Residential Conveyancing Services
We assist with the legal work involved in residential property transactions, including:
Every property transaction is different. We consider the property, title and circumstances of the transaction before advising you on the legal work required.
Buying a Property
Once your offer has been accepted, the conveyancing process begins. We review the contract papers and legal title supplied by the seller’s solicitor and arrange the appropriate property searches. We raise enquiries where further information or clarification is required and review the replies received.
If you are buying with a mortgage, we also consider the mortgage documentation relevant to the transaction. Before you exchange contracts, we report to you on the legal position so you can make an informed decision about proceeding.
Once contracts are exchanged, the transaction becomes legally binding and a completion date is agreed. On completion, the purchase funds are transferred to the seller’s solicitor. After completion, we deal with the required Stamp Duty Land Tax formalities where applicable and apply to HM Land Registry to register your ownership.
Seling a Property
If you are selling your home, we deal with the legal work needed to transfer the property to the buyer. This normally includes obtaining the title information, preparing the contract documentation and dealing with enquiries raised by the buyer’s solicitor.
Where there is an existing mortgage on the property, we obtain the information required to repay it from the sale proceeds. Once both sides are ready, contracts can be exchanged and the completion date agreed. On completion, we receive the purchase money, deal with the repayment of any existing mortgage where required and account to you for the remaining sale proceeds.
Leasehold Conveyancing
Buying or selling a leasehold property usually involves additional legal work because the lease and the management arrangements for the property also need to be considered.
For a leasehold purchase, this may involve reviewing:
When selling a leasehold property, information may also need to be obtained from the freeholder or managing agent before the buyer’s solicitor can complete their enquiries. Leasehold transactions can therefore involve more documentation and more parties than a typical freehold transaction.
Remortgaging Your Property
You may need conveyancing assistance when moving your mortgage to a new lender, even though you are not selling your home. The legal work may include reviewing the registered title, considering the new mortgage documentation, dealing with relevant lender requirements, repaying the existing mortgage on completion and registering the new mortgage with HM Land Registry.
Contact us if you are planning to remortgage and would like to discuss the legal process
First-Time Buyers
Buying your first home can feel complicated because many parts of the process will be unfamiliar. We explain the legal stages clearly and tell you what we need from you as the transaction progresses.
Your conveyancing may involve reviewing the title, searches, mortgage documents, enquiries and contract before you are ready to exchange. We will also explain what happens at completion and the legal work that continues afterwards, including registration of your ownership with HM Land Registry.
What Happens During Conveyancing?
Although every transaction is different, a residential purchase will usually move through the following stages.
Initial Instructions
We take your instructions, open the matter and obtain the information needed to begin the legal work.
Contract and Title Review
We receive and review the draft contract, title documents and supporting information from the seller’s solicitor.
Searches and Enquiries
Appropriate property searches are requested and enquiries are raised where further information is required.
Mortgage and Legal Review
Where a mortgage is involved, the relevant mortgage documentation is reviewed alongside the legal information relating to the property.
Report and Exchange of Contracts
Once the necessary information is available, we report to you on the legal position. When everyone is ready to proceed, contracts are exchanged and the completion date is agreed.
Completion
The purchase funds are transferred and ownership of the property passes to the buyer.
After Completion
We deal with the required post-completion work, including Stamp Duty Land Tax formalities where applicable and registration at HM Land Registry.
Property Searches
Property searches can reveal information that may not be obvious from viewing a property. Depending on the property and its location, searches may provide information about local authority records, planning matters, roads and access, drainage and water, environmental matters and other issues relevant to the property or location.
The searches required will depend on the circumstances of the purchase.
How Long Does Conveyancing Take?
There is no single timeframe that applies to every property transaction. The progress of a sale or purchase can depend on several factors, including the length of the property chain, mortgage arrangements, search results, the complexity of the title, whether the property is leasehold and how quickly information is provided by the parties involved.
We will keep you informed as your matter progresses and let you know if an issue arises that may affect the transaction.
Conveyancing Costs
The cost of conveyancing depends on the type of transaction, the property and the legal work required. There may also be third-party costs associated with a transaction, such as property searches, HM Land Registry fees and other payments made as part of the conveyancing process.
For information about the legal costs that apply to your matter, contact Arroxton Solicitors on 020 4548 5196 or email info@arroxtonsolicitors.com.
Frequently Asked Questions
When should I instruct a conveyancing solicitor?
If you are buying, you can usually instruct a solicitor once your offer has been accepted. If you are selling, instructing a solicitor when the property goes on the market can allow some of the initial paperwork to be prepared earlier.
What is exchange of contracts?
Exchange of contracts is the point at which the buyer and seller become legally committed to the transaction. Before exchange, the necessary legal work should be sufficiently progressed and the parties must be ready to proceed.
What happens on completion day?
On a purchase, the purchase money is sent to the seller’s solicitor. Once completion has taken place, arrangements can be made for the buyer to collect the keys. On a sale, the seller’s solicitor receives the purchase funds and deals with any existing mortgage that needs to be repaid.
What is the difference between freehold and leasehold?
With a freehold property, you usually own the property and the land it stands on. With a leasehold property, you own the right to occupy the property for the remaining term of the lease and are bound by the terms of that lease. Leasehold conveyancing therefore involves reviewing additional information about the lease and the management of the property.
Do I need a solicitor close to the property?
Not necessarily. Much of the conveyancing process can be handled by telephone, email and electronic communication. If you would like to discuss your proposed property transaction with Arroxton Solicitors, contact our Croydon office.
Speak to Arroxton Solicitors About Your Property Transaction
If you are buying, selling or remortgaging a residential property, contact us to discuss how we can assist.
To help us understand your transaction, it is useful to tell us whether you are buying, selling or remortgaging, the approximate property value and whether the property is freehold or leasehold.
Telephone: 020 4548 5196
Email: info@arroxtonsolicitors.com
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