The clocks changing and evenings growing longer mean we can put off winter no longer: with that comes a usualy quieter housing market. Especially after the year of high inflation and even higher interest rates we have seen in 2023.

This reality is reflected in this month’s insights from Propertymark, the largest professional trade body for estate agents. We have access to the organisation’s data, compiled by estate agents dealing daily with buyers and sellers.

Housing market overview

It’s not that the news is bad – actually, the housing market remains more robust than many would have anticipated given the state of the wider economy. But agents are seeing fewer sales being done, buyers being more cautious, and prices dipping slightly.

There’s no need for pessimism but it’s clear that housing market realities mean anyone selling now needs the expertise of a professional and skilled agent more now than at any time since the pandemic.

The sales market data

Over recent weeks the housing market data is showing up that there’s been a reduction in buyer numbers registering with each Propertymark branch. On average it’s down to 60 from a high of 81 in August. And the number of viewings per property over the month remained static in September at two, which is lower than the 18-month rolling average of three.

The number of homes newly listed for sale at each Propertymark branch has decreased too, from 13 to 11. Although that is actually above the 12-month rolling average of nine.

Meanwhile, the average number of market appraisals (which gives us a good idea of the future supply of homes going on sale) has dropped to 20 from 25.

Each branch currently agrees about eight sales on average over a month. This is in fact a pretty typical figure for this time of year.

But unsurprisingly very few now sell for above the asking price while the time taken to exchange contracts is getting worse. Agents say it’s not unusual for it to be 17 weeks or more. This is because buyers are more cautious, instruct surveyors to check properties and work hard to get the best mortgage deal in the current high-interest rate environment.

We’re clearly a long way from the heady days when multiple buyers were vying for each home on sale, with quick deals often at above the asking price: but we’re also a long way from a crash.

Most house price indices and reputable forecasters say prices have dipped less than five per cent. And remember, if that means your home would sell for less than before, it also means your next purchase will probably be cheaper too.

The rental market data

There’s no prize for guessing what’s happening in the rental market. Unfortunately there is no end in sight to the supply of rental property lagging far, far behind demand.

Propertymark’s chief executive, Nathan Emerson, speaks for many (including tenants obliged to pay high rents) when he says: “Governments across the UK continue to tinker with legislation and legislative programs, disincentivising landlords along the way. That means supply remains tight with far more applicant registrations than properties available”.

In terms of numbers, new prospective tenants registered per agency branch dropped to 96 in recent weeks from 121 in August. But this is most likely due to seasonal fluctuations – for example, students who were registering over the summer.

The average number of properties available to rent per branch is now broadly the same as in August at 11 properties, and this remains woefully under the level of demand.

The upshot is that rents stay stubbornly high but my advice to landlords is not to overestimate tenants’ ability to pay. It’s clear that affordability is the big issue now in the lettings sector, with many tenants lacking savings or other sources to fund ever-increasing rents.

What’s ahead for the housing market?

The reminder that the festive season is looming large has a serious point to it.

Housing markets everywhere become much quieter towards Christmas as we’ll see in the coming weeks and in the current climate it would be easy to interpret this as another bad sign. But it isn’t – it’s what happens as buyers and sellers put plans on ice until next year.

Read the latest Propertymark Housing Insight Report here. 

We are here every step of the way to guide and advise you on all things property - simply get in touch with us on 01364 652652 or email me directly katie@sawdyeandharris.co.uk.

Source : MoveIQ and Propertymark

The Renters Reform Bill finally resumed its journey through Parliament with the Second Reading of the Bill on 23 October, which passed without a vote due to cross-party support. The latest news is that the Bill will progress to the Committe Stage through the House of Commons, which will start following the King’s Speech on 7 November.

The cross-party Levelling Up, Housing and Communities Select Committee originally published its report, Reforming the Private Rented Sector, on 9 February 2023. The Government finally issued its overdue formal response on Friday 20 October, at the eleventh hour before the Second Reading debate of the Bill in the House of Commons on the following Monday, 23 October. Just in time before Parliament was prorogued on 26 October.

The Government response was released six months after the publication of the Select Committee report, instead of the usual two. Michael Gove apologised for the delay in the Second Reading debate. There are signs that the publication of the response was rushed as there are duplicate paragraphs on page 10 and some typos.

As well as announcing two key changes to the Renters Reform Bill, the response shed further light on Government plans for other matters in the Renters Reform Bill, together with additional matters that affect the PRS, but aren’t in the Bill.

Two changes to Renters Reform Bill announced in Government response

After waiting six months to publish its response to the Levelling Up Select Committee’s recommendations, the Government only agreed to one small modification to the Renters Reform Bill, and a delay to the implementation of one key aspect.

Here are the two principal concessions to the recommendations of the Select Committee:

1. Linking of abolition of Section 21 to court reform

The abolition of Section 21 was in the Conservative Party election manifesto in 2019. According to the White Paper, A Fairer Private Rented Sector, Section 21 was always due to be implemented on the second implementation date, at least 18 months after Royal Assent (say the end of 2025 or the spring of 2026). Yet despite this delay in implementation that was built into the transition arranges, the court system will apparently not be ready in time for what would have been the likely implementation date at least two years from now.

The Government response gives no information as to exactly how “sufficient progress” will be assessed. Instead, the section on court reform refers vaguely to “digitising more of the court process”, “exploring the prioritisation of certain cases, including antisocial behaviour”, improving the bailiff system and providing “early legal advice and better signposting for tenants.” Certainly no SMART objectvies here!

There is no detail what “digitising” means (other than it will apparently be “end to end”), or how the prioritisation of cases will work. It also doesn’t explain how the new grounds of possession will be made “faster and easier to prove”.

2. New Ground for Possession for student tenancies

The Government did not accept the Select Committee’s recommendation that fixed-term tenancies be retained for the entire student market (not just purpose built student accommodation). DLUHC justified this by saying that “retaining fixed terms would unfairly lock students into contracts, meaning they could not leave if a property is poor quality or their circumstances should change”.

Instead, DLUHC proposes introducing a “ground for possession that will facilitate the yearly cycle of short-term student tenancies”. The response does not clarify whether this would be a mandatory or discretionary ground, or how much notice the landlord will need to give the tenant. Under the new Section 8, notice ranges from two weeks to two months, apart from the new Ground 7A (severe antisocial behaviour) and Ground 14 (antisocial behaviour), which will both be immediate.

Whilst this is a welcome step, failing to allow fixed term periods for student tenancies will leave many student landlords with voids from after the exam period in May until the start of the new academic year at the end of September. In order to receive the same annual income, student landlords will probably cost in the longer void periods by increasing the monthly rent. Let’s hope that this issue is revisited in the Committee Stage.

What’s new in the Government response to Levelling Up Select Committee?

1. Government plans to improve court possession process

The Government did not accept the Select Committee’s recommendation to introduce a specialist housing court, but “recognises the importance of making sure that the process is as smooth and efficient as possible”.

No timings for the improvements were given in the response. However, given that the abolition of Section 21 wasn’t due to come into effect for some time in any event (late 2025 / early 2026, depending on Royal Assent), reading between the lines, we must be looking at perhaps even 2027 or 2028 before the court reforms will be complete. If the opinion polls are to believed, it is highly conceivable that this will be under a new Government.

2. Antisocial Behaviour Grounds for Possession

The response contains two identical paragraphs on page 10 (suggesting rushed proof-reading) that they would “expand the principles that judges must take account of when deciding if an eviction is reasonable”. They give the examples of giving “more weight to the impact on victims and whether the tenant has failed to engage with other interventions to manage their behaviour”.

DLUHC rejected the Select Committee’s recommendation to make Ground 14 (non-criminal antisocial behaviour) mandatory as this would require a list of specific behaviours in legislation. They did not, for instance, propose widening Ground 7A to include more examples of antisocial behaviour, and leave the less severe cases to the discretion of the judge.

3. More detail on what to take into account with pet requests

DLUHC rejected the Select Committee’s proposal to drop the new implied right to request to keep a pet. Instead, the response gives examples of the factors which they anticipated landlords would take into account when making their decision.

The examples were the size of the pet and property, whether the property or common parts are shared with other tenants (this is likely to mean HMOs or flats), allergies or phobias and, “if relevant, access to outdoor space”. A landlord “could likely refuse” if the animal was too big for a small property or if another tenant in a shared house had an allergy or phobia. In other words, no blanket ban for HMOs.

4. Update on the Privately Rented Property Portal

It is clear that the design of the Property Portal is far from complete. Even the compliance information that landlords will need to upload is not confirmed. For instance, compliance information “could” include gas and electrical safety certificates. The Government is “considering” that landlords self-certify compliance with the Decent Homes Standard (which has still not been published).

They “expect” the penalty system to be “tiered”, with different penalties for different offences. They are also “considering” data collection options “that will minimise the burden on private landlords”, by using “existing datasets where possible”. Presumably this means EPCs.

5. Government will review selective licensing once Property Portal is “fully operational”

There is no commitment to abolish selective licensing; only that they will “review” it, once the portal is “fully operational”.

Next step for the Renters Reform Bill: The Committee Stage

The next stage for the Bill is the Committee Stage, when the Bill will be scrutinised line by line. Given that Parliament has now been prorogued until after the King’s Speech on 7 November, the Committee Stage will start in the second or third week of November.

Stages still to come

The Report Stage and Third Reading will follow the Committee Stage, after which the process begin again in the House of Lords.

As a carry over motion was passed, the Bill will automatically carry over to the next Session of Parliament, which starts on 7 November.

Sources: Propertymark and Suzanne Smith - The Independent Landlord

Whether you’re a new homeowner or have been living in your home for a few years, carrying out maintenance work is critical. As the place you spend every day, regular home maintenance is beneficial for saving money in the long run, raising the value of your property, creating a safe and comfortable home and increasing the longevity of your appliances.

It can be tricky to know where to begin with maintenance work on your home. Read on to find out our top tips for carrying out DIY tasks.

Caring for your home changes from season to season, depending on the weather and the appliances you use. To stay organised, write up a home maintenance checklist for every season and tick the tasks off gradually through the year. 

Winter tasks can range from keeping the gutters clean, and servicing the boiler to inspecting your home for any leaks due to the weather. Whilst summer tasks can include checking your water supply status, fixing the garden and inspecting any type of fan usage. With a useful list, it’ll save you from wasting time and forgetting vital tasks at home throughout the year.

Maintenance of the home can range from simple, everyday tasks we can all do, to other jobs where a professional is needed. Similar to the maintenance jobs list, also create a handy list of local and trustworthy professionals who can do the jobs you’re not skilled for. This can include servicing your boiler, cleaning out gutters, repairing the driveway, painting the exterior of the house and cleaning the chimney. With a professional on hand, you’ll have the confidence of a job done correctly.

Appliances are incredibly useful in everyday life, from hoovers, ovens, and washing machines to the fridge. With regular use comes regular maintenance, meaning a deep cleaning process or sending for repairs when needed. If you don’t regularly clean or repair appliances they can cause damage, either minimal or extensive, depending on the appliance. 

You don’t need to be deep cleaning them all the time but once a month or once every two months can help immensely. Put a date in your calendar to keep you organised. For example, cleaning your washing machine can be done every six months, whilst your fridge every month.

Our home is our haven and it’s necessary to protect and keep ourselves safe from common faults or hazards. Maintenance is the key to prevention before any issues are unable to be resolved or any faults cause serious damage to the home and people living in it. Caring for your home’s maintenance is a priority for every homeowner because it improves the safety, and the overall look and assures you that issues are less likely to occur.

With a checklist in place, a contact list acquired and regular cleaning days, your home maintenance will become a part of your everyday life – and seem a lot less of a hindrance than you think.

We are here to guide and advise you, every step of the way - simply get in touch on 01364 652652 or email me directly katie@sawdyeandharris.co.uk for professional property advice.

How to navigate selling your property in an evolving market

The housing market is constantly fluctuating and evolving. As a property owner, it's crucial to understand the current market conditions and trends in your area when deciding to sell your home or investment property. Successfully selling your property in an ever-changing market requires thorough preparation and adapting your approach to match shifts in buyer demand. 

Being a savvy seller who can navigate the home selling process in any market — whether it's a hot sellers' market, a seasonal decision or a slower buyers' market — will maximise your chances for a quick and profitable sale. This guide provides key tips so you can best position your property to sell quickly and for top dollar even as market conditions continue to evolve.

Research the Market

The first and most important step is to understand the current market conditions. Start by reviewing recent sale prices for comparable properties in your neighbourhood. Checking listings to help you gauge current home values in your area. Also take some time to analyse the inventory of properties currently for sale. A high volume of listings signals a buyers' market while a low inventory indicates a sellers' market.

It is understandable that you will want to get the best possible price for your home in order to plan ahead and fund your future lifestyle without any worries. In addition to researching the expected value of your home, you might also want to learn more about the broader economic factors that are impacting the UK housing market. 

These include current interest rates, employment trends, population growth or a decline in your region. Looking at data on the average number of days properties are staying on the market in your area can provide insight into buyer demand. Faster sales tend to indicate a hotter market with higher demand.

Prepare Your Property for Sale

First, make any necessary repairs and improvements to maximise your home's appeal to buyers. Focus on kerb appeal by ensuring the exterior, garden and landscaping look neat and tidy. Inside, create attractive staging by decluttering each room and removing excess furniture so they look spacious, organised and move-in ready. It’s worth repainting walls in neutral colours and storing away personal items and clutter to make the home appear more spacious. 

Sellers should also have their home professionally valued by an estate agent to get an accurate estimate of the current market value. This will help guide the asking price and ensure you’re not pricing yourself too high or low. 

Deep clean the entire property including carpets and windows, and make sure that all fixtures, appliances and utilities are in good working order, especially if you’re leaving them as part of the sale. If needed, replace any broken or outdated items before you go on the market. The better condition your home is in, the quicker you’ll be able to sell. 

Check your home complies with all safety regulations including up-to-date electrical safety certificates and gas safety records, and consider making energy efficiency improvements like insulation and double glazing to maximise appeal. These are features buyers are keen to have in their home today and getting ahead of their own renovations will make your home more appealing. 

Price Your Property Competitively

Pricing your property correctly is crucial for a successful sale. Set your asking price based on the current market value, which you can determine from recent comparable sales in your area, and make sure your price reflects the location, size, condition, upgrades and other features that impact value. 

In a buyers' market with high inventory, you'll need to price at the lower end of your property's value range in order to stand out and sell quicker. In an economic crisis when the market is dipping and homes are threatened with repossession, you might need to consider lowering your expectations. In a sellers' market with high demand and low inventory, you may be able to price at the higher end and still attract buyers.

Factor in that buyers will negotiate and make offers below your asking price, and leave enough wiggle room to counteroffer so you end up at a fair market value price. It’s important to work with your estate agent to land on an optimal asking price. They can provide advice and guide you based on experience pricing homes in your local market. Being flexible on price and starting competitively will help ensure a faster sale.

Adapt Your Strategy to Evolving Market Trends

The UK property market is always shifting, with new trends emerging, so be prepared to adapt your selling strategy accordingly for the best outcome. Monitor the market closely in the weeks after you first list your home. If it doesn’t generate much interest in the first 2-3 weeks, consider lowering your asking price or relook at your marketing approach. You may even want to take it off the market and wait a few months before trying again, depending on your circumstances. 

If buyers viewing your property seem hesitant or make low offers, think about making improvements like renovating the kitchen or bathrooms to enhance appeal, or offer to cover solicitor fees or stamp duty for the buyer to encourage a sale. 

In a slow market, you need to be willing to negotiate more on price, terms and inclusions. For example, you may need to be flexible on completion dates, or consider allowing first-time buyers to purchase with just a 5% deposit through programmes like Help to Buy.

In a hotter market, property owners can expect bidding wars with offers coming in considerably higher than the asking price. As a seller, you’ll have more leverage to find the best buyer and terms, but bear in mind that things will move much faster and you’ll need to factor this into your own plans. 

Staying abreast of economic factors influencing buyer demand, inventory levels and home values in your area will enable you to make data-driven decisions on pricing and marketing. Investing time upfront to declutter, stage and enhance your home’s appeal will also attract more buyer interest. With preparation and adaptability as a seller, you can tailor your sales strategy to match any market for the optimal outcome.

We are here to guide and advise you, every step of the way - simply get in touch on 01364 652652 or email me directly katie@sawdyeandharris.co.uk for professional property advice.

What is conveyancing? It's the legal process of transferring the ownership of property from the seller to the buyer. We explain everything you need to know about the stages of the conveyancing process when buying.

What is conveyancing?

Conveyancing is the legal transfer of home ownership from the seller to you, the buyer. The conveyancing process starts when your offer on a house is accepted and finishes when you have completed the purchase and receive the keys. It’s a service you’ll be paying a good few hundred pounds for and a critical part of buying your home – so you’ll want to get it right.

Who does the conveyancing?

When you’re buying a home, a solicitor or conveyancer usually conducts the conveyancing process, but it is possible (although difficult) to do it yourself as long as you are not taking out a mortgage.

The stages of the conveyancing process

There are a number of stages of the conveyancing process. Here’s our step by step guide to the conveyancing process for buyers.

Stage 1: Instruct a conveyancing solicitor

The first stage of the conveyancing process is to find the right solicitor or conveyancer and instruct them to start work on the legal side of your purchase.

If you’re considering using the conveyancing solicitor recommended by the estate agent for the house you’re buying, we’d advise you to compare conveyancing quotes first to check you’re getting a good deal. You’re not obliged to use the conveyancer the estate agent recommends and you may get a better service for a better price by shopping around. We can help with a conveyancing quote – just click here

Once you’ve got a few conveyancing quotes from different firms, give them a ring to discuss how they work. Once you’ve instructed a conveyancing solicitor, they will undertake the relevant ID and Anti-Money Laundering checks. And they’ll write to your sellers solicitor to confirm they are instructed and request a copy of the draft contract and any other details, such as the property’s title and the standard forms.

Stage 2: Draft contract and raising enquiries

One of the first stages of the conveyancing process involves your solicitor examining the draft contract and supporting documents and raising enquiries with the seller’s solicitor. You will be expected to go through the paperwork and forms the seller has completed, including the TA6 form and let the solicitor know if you have any queries or concerns.

In particular, you will want to double check the tenure of your new home: is it freehold or leasehold ? If you’re buyig a leasehold do check the length of the lease. This is a critical piece of information. Leases below 80 years can be a problem, can be costly to extend and you need to have owned the property for 2 years before you are eligible to do so. Leases under 60 years are best avoided.

When you’re buying a home, you’ll want the process to be as smooth as possible so make sure you respond promptly to queries and also ask for regular updates from your conveyancer and estate agent. 

Stage 3: Arranging a property survey

While it’s not a legal requirement, it’s a good idea to have a survey conducted. The survey report will highlight any major problems and may recommend extra investigations. The sort of survey you have done will depend on your specific circumstances. Depending on the results of the survey, you may want to go ahead with the purchase, renegotiate the price or even decide to pull out. So it’s a good idea to arrange your house survey as early as possible.

Once you’ve had a survey done, your conveyancing solicitor can advise on what to do next. Whether there are problems you want fixed before purchase or issues you want to investigate further, they can liaise with the sellers solicitor. If there are significant issues flagged up by the survey, you may want to renegotiate the price and your conveyancing solicitor will need to be looped in to get everything agreed in writing. 

Stage 4: Conducting property searches

There are things you may not know about the property just from viewing it with estate agents or even from a survey. As part of the house conveyancing process, a conveyancing solicitor will carry out a set of legal property searches to ensure there are no other factors you should be aware of. Some searches will be recommended by the solicitor for all purchases and others will be required by the mortgage lender to protect them from any liabilities that the property may have.

These property searches include:

• Local Authority searches: Are there plans for a motorway at the end of your new garden? How about radioactive gas?
• Checking the ‘title register’ and ‘title plan’ at the Land Registry – these are the legal documents proving the seller’s ownership. Both checks are legally required in order to sell
• Checking flood risk – this can also done at the Land Registry. If you are already getting an environmental search (see below), you might not buy this one separately as the search will contain much more thorough flood information and maps
• Water authority searches – find out how you get your water and if any public drains on the property might affect extensions or building works
• Chancel repair search – to ensure there are no potential leftover medieval liabilities on the property to help pay for church repairs. However, you may decide to take out Chancel repair insurance instead for £20 or so. The laws around Chancel repair changed in October 2013 so now the onus is on the Church to establish and lodge liability with the Land Registry
• Environmental Search – this report is used on the vast majority of transactions and is provided by either Landmark or Groundsure. Depending which product your solicitor usually uses, the report will give information about contaminated land at or around the property, landfill sites, former and current industry, detailed flooding predictions, radon gas hazard, ground stability issues, and some other related information
• Optional and location specific searches – sometimes extra searches are required or recommended depending on the location or type of property or due to particular concerns raised by the buyer. These could include:
• Tin Mining searches in Cornwall
• Mining searches in various parts of the UK and Cheshire Brine searches
• Additional Local Authority Questions such as Public Paths, Pipelines, Noise Abatement Zones, Common Land, etc

The cost of these property searches are often charged as extras, so make sure you factor them in to the conveyancing fees.

Stage 5: Conveyancing for your mortgage

You will need to get your mortgage in place, which includes ensuring you have the financing available for a mortgage deposit.

As part of the process of getting a mortgage, you’ll need to get a mortgage valuation. This is carried out on behalf of the mortgage company so they know that the property you’re buying provides sufficient security for the loan. You normally have to pay for it, but a mortgage company might throw it in for free to attract business. But don’t let a free valuation sway you, it’s vital you pick the best mortgage for you.

Stage 6: Arrange buildings insurance

If you need a mortgage to buy the property, your lender will require you to get buildings insurance for your new home before exchange of contracts can take place. That’s because you are responsible for the property as soon as contracts have been exchanged. So shop around before you exchange to find the best policy at the best price. 

Stage 7: Signing contracts

Since receiving the draft contract from the seller’s solicitor at the start of the house conveyancing process, your solicitor will have been in correspondence with you about what is covered. Before signing the contract your solicitor will need to ensure:

• That all enquiries have been returned and are satisfactory.
• That fixtures and fittings included in the purchase are what you expected.
• A completion date has been agreed between parties, which can be simultaneous with exchange or might be a few days or weeks  after exchange of contracts, although this can vary widely and depends on all parties involved in the transaction.
• That you have made arrangements to transfer the deposit into your solicitor’s account so that it is cleared in time for an exchange. You may want to negotiate on the size of the deposit, which is normally 10% of the value of the property. However, even if you agree to pay less than 10%, you are still liable for 10% of the value of the property if you later pull out of the agreement. Therefore, if you pay a 5% deposit and pull out of buying the property, you will not only lose your deposit but also legally owe an additional 5% of the value of the property.

It’s a good idea to go to the property with the estate agent and the fixtures and fittings inventory list to ensure that everything you paid for is still there and the house has not been damaged in any way.

Stage 8: Exchanging contracts

Exchanging contracts is one of the most important stages of the conveyancing process. You and the seller will agree on a date and time to exchange contracts. Your solicitor will exchange contracts for you, which is usually done by both conveyancing solicitors reading out the contracts over the phone (which is recorded) to make sure the contracts are identical, and then immediately sending them to one another in the post.

If you are in a housing chain your solicitor/conveyancer will do the same thing, but will only release it if the other people in the chain are all happy to go ahead. This means if one person pulls out or delays, then everyone in the chain gets held up.

Once you have exchanged contracts you will be in a legally binding contract to buy the property with a fixed date for moving. This means that:

• If you do not complete the purchase, you will lose your deposit and owe the seller more if the deposit was less than 10%
• The seller has to sell or you can sue them
• The seller can no longer accept another offer (you no longer need to worry about being gazumped)

Stage 9: Between exchange and completion

You’re now in the final stages of the house conveyancing process. The period between exchange and completion involves your solicitor lodging an interest in the property, which will mean that the deeds to the property are frozen for 30 working days to allow your solicitor to process payment to the seller and lodge your application to the Land Registry to transfer the deeds into your name.

The seller will move out (although they may leave this to the day of completion).

You should get organised for your moving day and organise your removals and broadband for your new home to ensure it’s set up on time for your moving-in day.

Your solicitor will send you a statement showing the final figure to pay, which will need to be cleared into your solicitors bank account at least one day before completion. Your solicitor will apply to your mortgage lender for the mortgage loan.

Stage 10: Completion day

Completion is normally set around midday on the specified date, although in practice takes place when the seller’s solicitor confirms that they have received all the money that is due. Once this happens, the seller should drop the keys at the estate agent for your collection. This means that the house conveyancing process is over, and you can move in.

Stage 11: What happens after completion?

After completion, your solicitor will tie up the last few stages of the house conveyancing process:

• Pay Stamp Duty Land Tax on your behalf. 
• Your conveyancer will register the property in your name at the Land Registry. It can take anywhere from two to six months to register a property and may take significantly longer depending on your circumstances.
• Notify the freeholder if the property is leasehold
• Give you a bill for their payment

You will want to collect together all your paperwork from the purchase of your new home, including the estate agent’s brochure, to file away and keep safe for when you might want to move again.

Stages of the conveyancing process timeline

The conveyancing process starts when you make an offer on a property – or accept an offer on your home – and lasts until completion day when keys for the property are exchanged. The conveyancing process may be shorter if you are a cash buyer.  

The conveyancing process usually takes around 12-16 weeks.  

Is conveyancing different for leaseholds?

Yes. If you’re buying a leasehold flat or house, there are additional steps to the process. It will usually take longer because:

• The seller will need to provide a leasehold management pack and these can take several weeks to arrange.
• Your conveyancer will also need to review the lease in order to advise you on any conditions or obligations it contains that may impact on your decision to proceed. This may result in the need to raise further enquiries.

The conveyancing process for sellers

If you’re selling a house you’ll also want to know about the conveyancing process when selling. There are some stages of the conveyancing process for buyers that won’t apply to you. For example, you won’t need to apply for property searches. But there are some extra stages of the conveyancing process you’ll need to undertake, for example, you’ll be asked to complete a TA6 form and other forms, as well as collect together a number of documents required when selling.

Credit: Edited from an article produced by www.hoa.org.uk