Property FAQs | Curtis Parkinson

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Property FAQs

Residential Property & Conveyancing FAQs

What is Conveyancing?

Conveyancing is the legal process of transferring the ownership of a property or piece of land.
Further reading:
Residential Property

Do you need a solicitor for the purchase or sale of a property?

Some conveyancing quotes can be expensive, which makes it very tempting to ‘Do it Yourself’. However, the DIY method can be risky. Depending on the house you are buying and where it’s located, the process may be complicated. Without knowing what’s involved, mistakes can be made, and the warning signs missed.
Further reading:
Top 10 Tips on Buying and Selling a Home

What is the difference between a Leasehold and Freehold Property?

If you purchase a freehold property, you will own the property and the land on which it is built. Purchasing a leasehold property means that you will own the property for a fixed term, but you do not own the land. Usually, an annual ground rent will be charged and at the end of the term, the land reverts to the person or company who own the land.
Further reading:
I’m Buying a House – What’s The Difference Between Leasehold and Freehold?
Reinvigorating Commonhold – Will it Work?

How long does the conveyancing process take?

This depends on the complexity of your purchase or sale. The process usually takes between 6-8 weeks. However, if you are in a chain, for example, the process is likely to take a little longer.
Further reading:
Selling Your House This Year – How Can You Best Prepare?
We’re Buying a House – What’s Involved in the Conveyancing Process?
Conveyancing Advice for Buying or Selling a House

What is the difference between an exchange of contracts and completion?

Exchange of contracts happens when the buyer and seller enter into a legally binding agreement to buy and sell on a set date. As soon as contracts have been exchanged, both parties are committed and cannot pull out of the transaction without incurring legal penalties. Usually the buyer will pay a deposit (commonly 10%) on exchange.
Completion is the agreed date when final payment will be made, and the property is transferred from the seller to the buyer. Once your lawyer receives the monies, they will confirm you can collect the keys and move in.

How much does conveyancing cost?

You will find the cost of conveyancing will vary. Some solicitors or licensed conveyancers will charge on a sliding scale, according to the value of your property. Others will offer a fixed price. Details of our prices are set out in full here.
Further reading:
Residential Property

What are disbursements?

Disbursements are fees that your lawyer or conveyancer will need to pay on your behalf to third-party for their services. This will include conveyancing searches and stamp duty.

Will I have to provide Identification?

Yes, this is needed to complete either a sale or a purchase. All solicitors (lenders, accountants and estate agents too), are required by law to satisfy the Money Laundering Regulations. These stipulate that we must obtain evidence of a client’s identity. If a family member or friend is making a gift of money towards your purchase, we’ll also need certified photo identification and proof of address from them. Every solicitors’ practice also has an internal policy which may impose further requirements.

I don’t have any photo identification, what should I do?

As an alternative, it’s usually acceptable to provide three different official documents that you’re your address together with your birth certificate. However, further information or verification of your identity may be required.

If I’m an existing Curtis Parkinson client, will I need to provide documents for an ID check again?

It depends how old the identification is that we hold for you, what type of identification we hold and what it is that you are instructing us to do for you.

My ID documents still show my maiden name. Will I need to provide any other information?

Yes, we need your identification in your legal name. You will also need you to provide your marriage certificate.

My parents are gifting money towards the deposit, do I need to tell you?

Solicitors also have a duty to verify your parents’ identity and see proof of funds. This also applies to any other third party such as a partner or other family member who may be helping you financially.
If you are obtaining a mortgage to purchase the property, solicitors are also under an obligation to disclose any gift to the mortgage lender. They will also need to sign a gift declaration confirming that the money they are providing is purely a gift and is not repayable and they do not have any interest in the property. The solicitors will also have to verify the source of funds and follow their money laundering and identification requirements.

What are property searches?

Conveyancing property searches are reports that reveal if there are any risks to a property being purchased in relation to issues like contaminated land, flooding, planning, mining or subsidence, and more.

What is Stamp Duty (SDLT) and will I need to pay it?

Stamp Duty Land Tax is paid to the Government when you buy a property. The rate you pay depends on the value of the property you buy. Unless it’s your first home, or you are otherwise exempt from paying SDLT, you will usually pay SDLT if you have bought a house over £125,000. If it’s your first home, you will only pay SDLT on purchases over £300,000.
Your lawyer will retain the amount of SDLT and then pay it to HMRC when your property purchase has completed.

Further reading:
Residential Property
We’re Buying a House – What’s Involved in the Conveyancing Process?
Changes To Stamp Duty – What Do They Mean?

 

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Mr & Mrs Slater

We got an appointment quickly and staff were very helpful.

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I have consulted Roger before when needing help with litigation and dispute resolution. This time he was as helpful as ever. He was able to get to the nub of the matter and present the arguments so that the other party had to agree.

Peter D. Rymann

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2016-09-22T10:49:29+01:00

Peter D. Rymann

I have consulted Roger before when needing help with litigation and dispute resolution. This time he was as helpful as ever. He was able to get to the nub of the matter and present the arguments so that the other party had to agree.

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Communication was always clear and responses were prompt.

Mrs. C. R.

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2016-02-11T14:59:34+00:00

Mrs. C. R.

Communication was always clear and responses were prompt.

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Everything was done in a friendly and professional manner and gave piece of mind.

G. Hayward

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2016-02-11T14:58:54+00:00

G. Hayward

Everything was done in a friendly and professional manner and gave piece of mind.

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Very quick and I felt at ease with everything.

B. Wyer

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2016-02-11T14:58:23+00:00

B. Wyer

Very quick and I felt at ease with everything.

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You were very professional, yet friendly and didn't rush me. You explained things as we went along.

E. Bugg

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2016-02-11T14:57:38+00:00

E. Bugg

You were very professional, yet friendly and didn't rush me. You explained things as we went along.

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Friendly and down to earth.

A. P. Rothwell

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2016-02-11T14:56:57+00:00

A. P. Rothwell

Friendly and down to earth.

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You took the time to make me feel at ease. You were very straight forward and helpful.

R. B. Taylor

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2016-02-11T14:56:26+00:00

R. B. Taylor

You took the time to make me feel at ease. You were very straight forward and helpful.

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I would highly recommend you. Very efficient and you made everything very easy to understand.

Mr & Mrs Dawes

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2016-02-11T14:55:33+00:00

Mr & Mrs Dawes

I would highly recommend you. Very efficient and you made everything very easy to understand.

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Everything is fully explained and easy to understand.

A. L. Glover

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2016-02-11T14:54:46+00:00

A. L. Glover

Everything is fully explained and easy to understand.

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Clear and understandable advice, professional approach and simple communication.

J. Gunter

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2016-02-11T14:54:19+00:00

J. Gunter

Clear and understandable advice, professional approach and simple communication.

General Testimonial 15

Excellent legal service with straight and honest advice.

D. Sims

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2016-02-11T14:53:39+00:00

D. Sims

Excellent legal service with straight and honest advice.

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You answered our questions and advised us in the most professional and caring way.

J. Webster

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2016-02-11T14:52:34+00:00

J. Webster

You answered our questions and advised us in the most professional and caring way.

General Testimonial 13

A very efficient service, you went through each stage very well.

J. Greensheilds

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2016-02-11T14:52:00+00:00

J. Greensheilds

A very efficient service, you went through each stage very well.

General Testimonial 12

Good advice and a friendly service.

P. A. Bell

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2016-02-11T14:51:22+00:00

P. A. Bell

Good advice and a friendly service.

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You get things done quickly and and use plain language.

D. J. B. Mills

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2016-02-11T14:49:31+00:00

D. J. B. Mills

You get things done quickly and and use plain language.

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Very happy from start to finish and they helped us every step of the way.

Mr J. Clarke

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2016-02-05T12:47:40+00:00

Mr J. Clarke

Very happy from start to finish and they helped us every step of the way.

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Very helpful advice in a friendly manner.

Mr & Mrs W.B. Jones

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2016-02-05T12:42:49+00:00

Mr & Mrs W.B. Jones

Very helpful advice in a friendly manner.

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Friendly staff, accessible offices and professional service.

Mr. Pitcher

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2016-02-05T12:41:23+00:00

Mr. Pitcher

Friendly staff, accessible offices and professional service.

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Your explanations made it easy to understand. Nothing was too much trouble.

Mr & Mrs Swaby

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2016-02-05T12:40:12+00:00

Mr & Mrs Swaby

Your explanations made it easy to understand. Nothing was too much trouble.

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Nice to have things sorted with no fuss.

Mrs S. Longdon

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2016-02-05T12:36:16+00:00

Mrs S. Longdon

Nice to have things sorted with no fuss.

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You were very helpful and efficient in sorting out my affairs.

Mrs M. Pashley

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2016-02-05T12:32:54+00:00

Mrs M. Pashley

You were very helpful and efficient in sorting out my affairs.

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I would recommend Curtis Parkinson! Very straight forward and uncomplicated.

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2016-02-05T12:31:12+00:00

Mr J. Stamper

I would recommend Curtis Parkinson! Very straight forward and uncomplicated.

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Everything was explained in detail with no hesitation to explain anything you are not able to understand.

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2016-02-05T12:28:39+00:00

Mrs E.K. Roe

Everything was explained in detail with no hesitation to explain anything you are not able to understand.

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You helped me do something I have put off for too long. Now I have my affairs in order and peace of mind.

Mr & Mrs Nutt

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2015-10-26T10:13:00+00:00

Mr & Mrs Nutt

You helped me do something I have put off for too long. Now I have my affairs in order and peace of mind.

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You helped resolve a long standing dilemma. You made the experience painless and understandable and you dealt with things exemplary.

Mr Solanki

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2015-10-26T10:12:29+00:00

Mr Solanki

You helped resolve a long standing dilemma. You made the experience painless and understandable and you dealt with things exemplary.
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