When buying or selling a property, the legal process, known as conveyancing, comes with a daunting set of unfamiliar terms and paperwork, especially if this is the first time you are buying a home.
At Langley Wellington, we believe in making the process as straightforward and stress-free as possible and will be on hand to explain everything to you. However, in this guide, our conveyancing team has put together some of the most common conveyancing terms and answered some frequently asked questions about the process of buying or selling a residential property.
What is Conveyancing?
In its most basic form, conveyancing is the legal process of transferring the ownership of a property from one person to another. It covers the entire transaction, from preparing contracts to registering the new owner with HM Land Registry. The two key stages of conveyancing are:
- Exchange of Contracts: This is when the signed contracts are swapped between buyer and seller, and the buyer pays the deposit. It is at this point that the agreement to buy or sell a property becomes legally binding. Before exchange of contracts, either the buyer or seller can decide to pull out of the transaction without being liable for any serious costs. Before contracts are exchanged, the solicitor or licensed conveyancer will carry out various legal obligations and organise relevant searches on the property or respond to the other side’s request for information. Once these have been completed, legal representatives of each party will confirm their clients have signed identical contracts and will agree on a completion date. It is at this point that a deposit is usually sent to the seller’s solicitor/conveyancer, and the signed contracts are exchanged.
- Completion: The exciting part of the process! Completion is the final stage of the transaction when the keys are handed over, and ownership of the property is legally transferred from the seller to the buyer. The completion date, agreed at the point of exchange of contracts, will be when the buyer’s legal representative arranges for the agreed purchase monies to be transferred to the seller’s legal representative. Once confirmation of funds is received, the seller’s legal representative arranges for the keys to the property to be handed over to the buyer.
Key Forms You Will Encounter
Throughout the conveyancing process, you will likely come across various forms and documentation. Below are some of the most common forms and what they are for:
- TA6: This is the Property Information Form and covers details relating to boundaries, utilities, and more. It was updated in 2024 to make it shorter and easier to understand, with “not known” options for tricky questions.
- TA10: The Fixtures and Fittings Form, which lists what will be included in the sale. For example, curtains, carpets, appliances, and other similar items.
- ID1: A legal document used to verify your identity for HM Land Registry. At Langley Wellington, you can verify your identity either through our secure third-party app or in person at one of our offices.
- TR1: Transfer of Title, which is the legal document that officially transfers ownership between buyer and seller.
- AP1: The application form that registers the property with HM Land Registry.
Most of these are part of the conveyancing process, which your solicitor or conveyancer will undertake for you and be on hand to answer any questions you may have when completing property information forms.
Can I Complete These Conveyancing Forms Without a Solicitor?
Although it is possible to complete these conveyancing forms on your own, sometimes known as DIY conveyancing, it is not advisable to do so. Conveyancing involves complex procedures, and unless you are very familiar with property laws and the process involved, doing this on your own is not generally recommended. You would also not be covered by the same professional indemnity insurance protections if something went wrong. It is also worth noting that most mortgage lenders require you to use a solicitor or licensed conveyancer.
Common Conveyancing Terms Explained
Title Deeds – Proof of property ownership. Now mostly digital and held by HM Land Registry, title deeds are documents which show proof of ownership and the chain of ownership of land or property. Since it has become compulsory to register property at the Land Registry, the days of having bundles of paper title deeds have become a thing of the past. Typically, the title deeds now consist of a copy of the electronic registers held at the Land Registry.
Property Searches and Surveys – These are the legal checks and surveys carried out on a property, which will identify if there are any issues or potential problems with the property that is being purchased. Various surveys can be conducted, normally to check for rot, damp, and structural problems. Although these surveys are helpful, they are not compulsory, and many buyers choose to progress without them. However, if you require a mortgage to purchase the property, there are certain mandatory searches that mortgage lenders require before giving you a mortgage. The location and type of property will likely determine the searches required, but typically these searches include:
- Local Authority Search – Evaluating the local area to identify if there is anything that might affect the property in the future.
- Environmental Search – Used to identify what the land and the land in the vicinity of the property were previously used for and whether such uses are likely to have caused any potential contamination or cause future issues.
- Water and Drainage Search – These checks ensure that the property being purchased is safe from any flooding, leaking or damp caused by public waterways and drains.
- Bankruptcy Search – Required if the buyer is using a mortgage to purchase the property, as lenders will expect the legal representative to confirm that they are not bankrupt or not going through bankruptcy proceedings.
Energy Performance Certificate – Also known as an EPC, this certificate confirms the property’s performance in terms of its energy consumption and efficiency. An EPC rating score ranges from A to G, with A being the most efficient (modern, well-insulated homes with low energy bills), and G being the least efficient (very high energy costs often requiring major upgrades). A property’s EPC must be available to potential buyers as soon as it is marketed for sale or rent, and it can only be obtained through an approved Domestic Energy Assessor. If you are buying the property as a Buy to Let, minimum EPC ratings for rental properties are required, and all privately rented homes must have an EPC rating of at least C.
Disbursements – These are third-party costs outside of any standard legal fees charged by your solicitor or conveyancer, which you will be liable for. Typical disbursements in a standard property transaction include land registry fees, anti-money laundering checks, searches, and Stamp Duty Land Tax. Your solicitor will be able to handle these on your behalf and provide you with a full breakdown of disbursements related to your property sale or purchase once they are working on your matter. We provide information on typical disbursement costs in our Fee Transparency Information, which can be accessed here:
Purchase of a Freehold or Leasehold Residential Property
Sale of a Freehold or Leasehold Residential Property
Stamp Duty Land Tax (SDLT) – You pay Stamp Duty Land Tax (SDLT) when you buy houses, flats and other land and buildings over a certain price in the UK. You can calculate the amount of Stamp Duty Land Tax by visiting the Gov.uk SDLT Calculator. The calculator will work out the SDLT payable for most transactions.
Experienced Residential Property Solicitors
We hope the above has helped explain some of the core conveyancing terms, but Langley Wellington’s experienced conveyancing team is here to guide you every step of the way. We realise that buying or selling a home, especially if this is for the first time, will be an exciting but often daunting process. Our team is on hand to answer your questions and ensure that you feel informed, supported, and in control.
Langley Wellington has supported clients locally in Gloucester and Cheltenham, and nationwide for many years with all aspects of buying and selling residential properties. Through our technology-driven approach, we provide clients with a seamless and efficient service.
To speak with a member of our team today, please call 01452 545 678 or email us at lawyers@langleywellington.co.uk
Read some of our previous guides and articles for related information
Steps Involved in Conveyancing
This blog is not intended to be taken as advice or acted upon, and the information may have changed since publication. If you are seeking legal advice, please get in touch with our team of solicitors.
