FAQs: Shared Ownership Solicitors

Understanding the Shared Ownership legal and conveyancing process

If you’re at the beginning of your home-buying journey, you may already know that you’ll be required to instruct a solicitor or conveyancer to work on your behalf. Throughout the buying process, a solicitor or conveyancer will handle all of the legal aspects of buying (or selling) a property for you, and it’s their job to find out everything you need to know about a home.

On Share to Buy, you can find our Shared Ownership Solicitor and Conveyancing Panel which highlights a number of specialist firms who can help you on your home-buying journey. The panel can offer assistance and services to customers purchasing, selling or staircasing a Shared Ownership home.

Conveyancing and solicitors services

It can be daunting and confusing when it comes to buying a property for the first time, so understanding your conveyancing and solicitors’ services, processes and fees at the start of your homeownership journey is vital.

What does a conveyancing solicitor do?

A conveyancing solicitor handles the legal aspects of property transactions, such as property searches, contract preparation and ensuring a smooth transfer of ownership.

Is it better to use a solicitor or conveyancer?

It depends on your needs. Both solicitors and conveyancers can handle property transactions, but solicitors can provide broader legal advice, while conveyancers may focus solely on the conveyancing process.

What is the difference between a solicitor and a conveyancing solicitor?

A solicitor is a legal professional qualified to provide legal advice on various matters. A conveyancing solicitor specialises in property law and the transfer of property ownership.

How long does conveyancing take?

The conveyancing process typically takes 8-12 weeks, but this can vary greatly depending on factors such as the chain of transactions and legal complexities.

What documents are needed for conveyancing?

Documents commonly needed include the title deeds, property information forms, and any relevant planning or environmental reports.

What are the three main searches when buying a house?

The three main property searches are a local authority search, water and drainage search, and an environmental search, which assess various aspects of the property and its surroundings.

Conveyancing and solicitor fees

What is the average cost of conveyancing and solicitor fees when buying a home?

Conveyancing costs vary and can range depending on the complexity of the transaction and the provider you choose.

The cost of a solicitor for buying a home often falls in the range of £500 to £1,500 or more. The specific fee depends on factors such as the property’s price, location, complexity, and the solicitor’s rates.

It’s advisable to request quotes from different solicitors and choose one whose fees align with your budget and the services they provide.

How much are solicitors fees for first time buyers?

Solicitor fees for first time buyers are generally similar to those for any other buyers as they are based on the same considerations.

What do conveyancing fees include?

Conveyancing fees cover services like legal advice, property searches, land registry fees, and the preparation and review of contracts and documents related to property transactions.

Are conveyancing fees paid upfront?

Conveyancing fees are typically paid upon completion of the property transaction, but some firms may request a deposit upfront.

Do I have to pay solicitors fees if I pull out of the purchase?

If you decide to withdraw from a property purchase after engaging a solicitor, you may still be liable for some fees. The amount you owe depends on the work completed by the solicitor up to that point and the terms of your agreement with them.