Page 38 - Redbrik Estate Agents: Winter 2018

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WHAT IS CONVEYANCING?
Conveyancing is the name given
to the process of transferring legal ownership of a property from seller to buyer. It starts when your o er on a house is accepted and ends when you get your keys and ownership is registered at the Land Registry.
Although it sounds simple, there is a
lot more to the process than agreeing the date when you are going to move in and paying the purchase price to the seller. This is where your solicitor will step in.
We spoke with Richard Joy, Director of Residential Property at Banner Jones Solicitors, to nd out how they can help you with the mortgage process.
“Owning a property is very di erent from owning other assets. If you
want to buy a car you do not need
to employ a solicitor, there is little paperwork and it does not take weeks to complete the purchase.
“The reason property ownership is
so di erent is that we rely on it for every aspect of our lives and it is vital that ownership is properly recorded and the rights of any non-owners
are properly protected. If you own a car you would generally be the only person who has any rights over it.
“Owning land is di erent because you need to consider a number of di erent factors. Are there any restrictions
over the use of your land? Is the land a ected by environmental factors, such as ooding or old coalmining?
“A lot of work must be done in order to ensure that your new home is a safe investment for you. You may also be having to link your purchase to several other transactions known as a ‘chain’. This can make the process more complicated and stressful.
“As a solicitor, our job is to carry out these checks, resolve any problems and then report back to you. We focus on getting you the best possible deal so that you can live in the property without problems, get a mortgage on it and ultimately sell it in the future.”
IN PARTNERSHIP WITH
BANNER JONES
redbrik.co.uk
FINANCE