| Conveyancing is the process by which the legal title is | | | | coincide with the mortgage lender’s in seeing |
| transferred from the seller to the buyer. This is | | | | that there are no problems with the condition of the |
| generally a straight forward process but sloppy | | | | property or any legal concerns. If however, a conflict |
| conveyancing practice makes the process | | | | of interest arise between you and your mortgage |
| unnecessarily cumbersome and protracted. The | | | | lender we will be required to stop acting for you and |
| process detailed in this report is that followed by | | | | the mortgage lender. |
| Solicitors and Conveyancers at Phew! Please contact | | | | Once your mortgage offer has been issued your |
| us for further information. | | | | mortgage lender will normally send us a copy in the |
| The Conveyancing Process: Pre–exchange of | | | | post. |
| contracts | | | | Survey |
| Initial letters sent on instructions | | | | The usual building society or bank valuation is not a |
| Once we are instructed to proceed on your behalf | | | | full survey. The level of inspection varies between |
| we generally do the following:- | | | | each building society/bank surveyor. |
| Open a file in your name | | | | Your mortgage lender or the person arranging your |
| Write to the estate agent and financial advisor | | | | mortgage should advise you as to the type of |
| (where applicable) to confirm our instructions on your | | | | valuations and surveys available. For your own |
| behalf. | | | | protection, we must advise you to arrange a full |
| Write to the seller’s solicitors with a list of | | | | structural survey or at the very least a Home Buyers |
| pre-contract enquiries, to confirm our instructions and | | | | Valuation Report. |
| request them to send the draft contract papers to | | | | It might be possible, when making initial contact with |
| us. Pre-contract enquiries are a set of standard | | | | your mortgage company for them to arrange for |
| questions aimed at obtaining more information about | | | | their surveyor to carry out a House Buyers' Report |
| the property in question, such as: what furniture (if | | | | or full survey so that only one surveyor need be |
| any) is being left behind, the boundaries of the | | | | engaged. |
| property, who owns and is responsible for any | | | | If the surveyor only prepares a valuation for the |
| hedges or fences. If it is a leasehold property, we | | | | mortgage company the contract may only be |
| obtain details of the managing agents, and discover | | | | between the surveyor and the mortgage company. |
| whether the current owner is up to date with things | | | | In that case, you may not have any right to sue the |
| like service charge bills and ground rent. | | | | surveyor should any negligence on his part be proven. |
| Local Searches | | | | If the surveyor also prepares a report or survey for |
| We usually have to carry out searches regarding the | | | | you then, if he is negligent, you would be able to sue |
| property you propose to purchase. These will | | | | him. |
| almost always include a local authority search and an | | | | If you have a copy of your survey/valuation report, |
| environmental search. | | | | please kindly forward a copy to us. |
| Local authority searches usually take around six to | | | | If the property is leasehold it is advised the surveyor |
| nine working days to complete depending on the | | | | is instructed to survey the whole building and |
| efficiency of the local authority, time of year and | | | | common areas. |
| work backlog. | | | | Draft Contracts |
| A local authority search will establish the following: | | | | At the draft contract is sometimes prepared by our |
| proposals for any public works such as a new | | | | conveyancing team even when we are acting for the |
| motorway, waterworks or alterations to road | | | | buyers. This is basically to speed up the process. |
| systems; whether any new developments are | | | | Upon receiving the draft contract from the |
| planned in the vicinity of the property; any problems | | | | seller’s solicitors, we will check the |
| with water drainage systems; and any planning | | | | documentation and raise any specific queries that |
| restrictions that may affect your plans to renovate | | | | arise |
| or alter the property. | | | | |
| The local authority search may not reveal everything | | | | The contract is then amended by mutual agreement |
| you would like to know about the property and its | | | | between us and the seller’s solicitors. The |
| surrounding area, such as any parking restrictions | | | | contract is a legal document drawn up by the |
| affecting the area in which you are buying. | | | | seller’s solicitors that sets out the terms of the |
| If you require such information, it would be as well | | | | sale process. The contract will reflect details of the |
| for you to contact the local authority directly, or | | | | following:- property being sold; names of both the |
| advise us so that we can raise such matters with the | | | | buyer and seller; the property price and details of |
| authority at the start of the transaction. | | | | anything else that has been negotiated to be included |
| There may be other searches required, depending on | | | | with the sale; the date on which the transaction will |
| the location of the property, such as a coal-mining | | | | take place; and the completion date once all parties |
| search or a search from a local railway network. We | | | | have agreed on this. |
| will inform you of any such requirement at the | | | | |
| earliest. | | | | Once we are satisfied with all the legal documents |
| Mortgage offer | | | | and replies to enquiries in connection with the |
| If you are dependant on a mortgage to complete | | | | property, the contract is approved and sent to both |
| the transaction we may be required to act for both | | | | parties for signature |
| you and your mortgage lender. This mean there may | | | | Phew! offers a highest-quality service at all times - |
| be specific requirements and conditions that need to | | | | without exception. It has all the checks in place to |
| be satisfied before mortgage monies are released by | | | | ensure this. |
| your mortgage lender. Your interests broadly | | | | |