Use this guide to understand some of the terminology and language used when it comes to conveyancing and the legal aspects of buying and selling a property.
Core Conveyancing Terms
Conveyancing
The legal process of transferring property ownership from one person to another, ensuring everything is completed correctly and securely.
Conveyancer
A solicitor or licensed professional who handles the legal side of buying, selling, or transferring property.
Property Transaction
The full process of buying or selling a property, from offer through to completion.
Legal Title
The official record of ownership of a property, held with the Land Registry.
Title Deeds
Documents that prove ownership and outline rights, restrictions, and obligations attached to a property.
Buying Property
Offer Accepted
The point at which a seller agrees to your offer, allowing the legal process to begin.
Contract Pack
A set of legal documents provided by the seller’s solicitor, including property details, title information, and disclosures.
Fixtures and Fittings Form
A document outlining what is included in the property sale, such as appliances or furniture.
Property Information Form
A form completed by the seller that discloses important details about the property, such as disputes or alterations.
Searches
Checks carried out by the buyer’s conveyancer to identify issues such as planning restrictions, drainage, or environmental risks.
Enquiries
Questions raised by the buyer’s solicitor to clarify details or resolve issues before exchange.
Deposit
An upfront payment, typically around 10 percent of the purchase price, paid before exchange of contracts.
Selling Property
Sale Proceeds
The money received from selling a property after paying off any outstanding mortgage and fees.
Contract Preparation
The process of drafting legal documents that define the terms of the sale.
Disclosure
Information the seller must provide about the property, including known issues or disputes.
Mortgage Redemption
Paying off an existing mortgage using the proceeds from the property sale.
Key Legal Stages
Exchange of Contracts
The point where signed contracts are swapped between buyer and seller, making the transaction legally binding.
Completion
The final stage where funds are transferred, and ownership officially changes hands.
Chain
A series of linked property transactions where each depends on the others completing.
Completion Date
The agreed date when the property transaction is finalised and keys are handed over.
Property Checks and Risk
Local Authority Search
A check for planning permissions, road schemes, and local issues affecting the property.
Environmental Search
A report identifying risks such as flooding or contamination.
Water and Drainage Search
Confirms how the property connects to water and sewer systems.
Covenants
Legal restrictions or obligations tied to a property, such as limits on building or use.
Restrictions
Legal conditions recorded on the title that affect how the property can be dealt with.
Ownership and Transfers
Transfer of Equity
Changing ownership shares in a property, often due to divorce, gifting, or adding a partner.
Leasehold
Ownership of a property for a fixed period, with the land owned by a freeholder.
Freehold
Full ownership of a property and the land it stands on.
Lease Extension
The process of increasing the length of a lease on a leasehold property.
Joint Ownership
When two or more people own a property together.
Remortgaging and Finance
Remortgage
Switching your existing mortgage to a new lender or deal without moving home.
Equity
The value of the property you own outright, after subtracting any mortgage.
Loan to Value (LTV)
The percentage of the property value that is financed by a mortgage.
Affordability Checks
Assessments carried out by lenders to confirm you can repay the mortgage.
Documents and Registration
Transfer Deed
A legal document used to transfer ownership of a property to the buyer.
Land Registry
The UK government body that records property ownership and legal interests.
Registration
The process of updating the Land Registry to reflect new ownership after completion.
Completion Statement
A financial breakdown showing all costs, fees, and funds involved in the transaction.
Process and Service Terms
Case Manager
Your main point of contact who oversees your transaction and keeps things progressing.
Client Portal
An online system where you can track progress, upload documents, and receive updates.
Fixed Fee Conveyancing
A pricing structure where legal fees are agreed upfront with no hidden costs.
No Sale No Fee
A policy where legal fees are not charged if the transaction does not complete.
Timescales
The expected duration of a transaction, typically around 12 to 16 weeks depending on complexity.