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London as a region has the highest house prices in the UK and the current property market suggests this will not change in the near future. Purchasing property in London differs from the rest of the UK; with the noticeably higher prices, those buying property in London often do so as an investment opportunity.
Here at Stephensons, our solicitors are highly experienced in residential conveyancing within the London property market. With a high volume of foreign buyers, high net worth individuals (HNWIs) and first time buyers, London’s conveyancing market is vast, varied and requires tailored services and expertise to be managed efficiently. Between 2007 and 2015, an estimated 50,000 HNWIs moved to London from the EU, Asia and the Middle East to buy properties. The complex dynamics of the London property market are constantly evolving, and with London being home to most of Britain’s HNWIs (almost 400,000 residents) it is imperative that residential conveyancing in London is serviced properly. It can be of great benefit to use a property solicitor with the local knowledge and key contacts within the sector to help keep things moving towards completion of the transaction.
Our specific conveyancer areas of specialism include, but are not limited to:
If you currently own property in London and you are looking to sell, or if you simply have an interest in purchasing a property in London, contact Stephensons on 01616 966 229 for a free, no obligation initial chat with one of our legal advisors.Speaking to one of our residential conveyancing solicitors with local market expertise will give you a clear view on your options, as well as further suggestions you may be unaware of. If you go ahead with Stephensons as your conveyancing solicitor through buying, selling or investing in a property, you will have the added benefit of being able to stay in touch with your transaction 24 hours a day through the use of our case tracking system. Call us today to see how our property solicitors can help.
Conveyancing is the legal process of changing the ownership of a property or piece of land and is required whether the property is a residential home or a business premises. It involves a range of different phases and types of activity to be carried out by the conveyancing solicitors.
These include legally required checks, searches and documents to be completed, to ensure that the transaction meets all of the standards necessary.
A conveyancing solicitor is responsible for assisting the seller or buyer of the property with the transfer of the title from one owner to the next and ensuring the transaction meets all legal requirements, while protecting the rights of their client.
A property solicitor is also known as a conveyancing solicitor. They help those buying or selling property to ensure the transaction meets the necessary legal obligations and that all of the required checks and searches are carried out. They are ultimately responsible for facilitating the title transfer.
The fees for conveyancing solicitors in the UK can vary widely, depending on factors such as the complexity of the specific transaction and even the location of the property in some cases. On average, residential conveyancing costs usually range between £800-1600.
In addition to the solicitor’s fees, there will also be the costs of any legal checks and searches required, known as disbursements, to take into account.
The cost of conveyancing in London can vary, with individual factors affecting specific transactions playing a part in how much legal work is involved. Your solicitor should discuss the likely cost of conveyancing with you before proceeding with your property transaction, so you know what to expect.
Factors that can affect the cost of conveyancing may include, but are not limited to:
One way to find a good conveyancing solicitor is to choose a firm with a proven track record in providing excellent conveyancing services and positive reviews left by previous conveyancing clients. Another important aspect is ensuring you choose a solicitor with a good reputation for communication.
You are not legally obliged to use a solicitor when buying a house in the UK, but if you choose not to use a professional and experienced conveyancer, you can have or cause real problems during the process. Many mortgage providers will only lend when professional conveyancers are involved.
Getting any part of the complex legal process or paperwork wrong when conveyancing can mean that the entire transaction is put at risk and there could be serious financial implications too.
If you are remortgaging your property with a different lender, a mortgage solicitor will be needed to make the transfer of funds from the old provider to the new one and will ensure that the process followed in this change of lender is legally compliant.
You don’t need a solicitor in order to apply for or be offered a mortgage by a lender, but you will need to instruct a conveyancing solicitor as soon as you have an offer accepted on a property so that they can start the legal process of the purchase and handle the change of ownership.
If you are looking for a conveyancing solicitor to help with the process of buying a house, there are a number of questions you can ask so you understand more about the solicitor you might instruct. The questions you can ask them include:
Getting satisfactory answers to these questions can help you to decide which conveyancing solicitors to use for your property purchase.
To find out how our expert conveyancing solicitors can help with your property purchase or sale, contact the team today 0161 696 6187 .
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