Congratulations! You’ve decided to take the plunge into homeownership—a thrilling journey filled with excitement, anticipation, and, let’s be honest, a fair share of nerves. As a first-time buyer, one of the most crucial aspects of your journey will be navigating the conveyancing process. While it might sound intimidating at first, understanding this process is key to ensuring a smooth transition from house hunter to homeowner.

1. Finding a Solicitor or Conveyancer
2. Initial Checks and Searches
3. Reviewing the Contract
4. Mortgage Offer
5. Exchange of Contracts
6. Completion

1. Finding a Solicitor or Conveyancer

The first step is to find a solicitor or conveyancer who will handle the legal aspects of your property purchase. Here at Ridley and Hall we have experienced and reputable Solicitors, who  will guide you through each stage of the process, ensuring everything is done correctly and efficiently.

2. Initial Checks and Searches

Once we have taken your instructions, we will conduct various checks and searches on the property you intend to buy. These searches typically include inquiries into land registry records, local authority information, environmental concerns, and any planning permissions that may affect the property.

3. Reviewing the Contract

One of our experienced solicitors or licenced conveyancers will review the contract provided by the seller’s solicitor, known as the “draft contract.” They will carefully examine the terms and conditions, including the sale price, property boundaries, fixtures and fittings included, and any special conditions.

4. Mortgage Offer

If you’re obtaining a mortgage to finance your purchase, your lender will conduct a valuation of the property to ensure it’s worth the amount you’re borrowing. Once satisfied, they will issue a formal mortgage offer, detailing the terms of the loan.

5. Exchange of Contracts

This is the pivotal moment in the conveyancing process. Once all checks and searches are complete, and both parties are satisfied with the terms, you and the seller will sign the contract, legally committing to the purchase. At this stage, you’ll typically pay a deposit, usually around 5-10% of the purchase price.

6. Completion

The final step is completion, where ownership of the property officially transfers to you. This typically occurs a few weeks after the exchange of contracts, allowing time for the remaining funds to be transferred, and any final checks to be conducted. Once completed, you’ll receive the keys to your new home and can begin the exciting journey of making it your own.

Naha Ahmed – Trainee Solicitor