What is conveyancing?
Conveyancing is the legal transferring of the ownership and title of a commercial or residential property.
It is your
conveyancing solicitor that will be handling all the legal aspects of your property transaction, so it is important that you commission a reliable company with practical experience in the London property industry.
The solicitors that provide quotes through reallymoving for London property transactions all have an expert working knowledge of the searches that are necessary in the area. They will help you get a better idea of the conveyancing process timeline and what it entails.
Conveyancing searches
During the conveyancing process your solicitor will conduct a range of
legal searches to discover additional information from local authorities and relevant institutions about the property you are purchasing.
It should be noted that the searches undertaken by your conveyancing solicitor are not the same as a
house survey conducted by a Chartered Surveyor.
When purchasing a property in London there will be searches specific to London that need to be checked out by your solicitor.
High Speed Rail 2 (HS2)
The HS2 is a high-speed rail network that connects London to Birmingham and extends further north to Manchester and Leeds. The construction of the rail link began in 2017.
Certain boroughs of London will be more affected than others, so your solicitor will enquire as to whether the property you are purchasing is affected by the construction of the HS2 and its proximity to the rail line. You will also be informed of the impact that it may have on the value of the property.
Crossrail Link
The Crossrail link, known as the Elizabeth Line, opened in May 2022. It travels from Maidenhead and Heathrow in the West to Abbey Wood and Shenfield in the East.
With 19 local authority areas affected by the Crossrail Link, it is important that relevant searches are carried out by your conveyancer to check whether the property will be permanently affected by its distance from the route.
Crossrail 2
Crossrail 2 is a proposed railway that will connect the National Rail networks in Surrey and Hertfordshire via an underground tunnel through London.
Your conveyancing solicitor will be able to advise whether this would disrupt your property or impact your conveyancing process timeline.
Railway tunnels
Although National Rail previously were not included in the options offered by the specialist search provider used for conveyancing searches, your London conveyancing solicitor is aware that Network Rail and Transport for London tunnels must be considered in all searches. This includes the London Underground.
If you are planning development work to your property, it is important to ensure that you are mindful of any tunnels surrounding your property.
Flooding
Flooding is one of the most pertinent dangers for property in London, with up to 680,000 properties at risk from flooding. You solicitor will check the likelihood of flooding in the area and if there have been any issues with flooding in the last 75 years.
If your solicitor discovers that there is a risk of flooding, they will be able to detail the significance of the risk and help you with the insurance implications.
It is advised that you discuss the findings of the searches with your conveyancing solicitor, as they will have vast experience in matters that affect London property.
It is important that you know all the facts about the property you are intending to buy before completion.
Property solicitors in London
There are many
highly rated conveyancing solicitors throughout England and Wales that are proficient in completing the conveyancing for the sale, purchase or remortgage of properties in any region of London.
Just because you live in the large metropolis of London, you don’t have to pay more for your conveyancing, as the fees for many London based property solicitors correspond to those in the rest of England and Wales.
All searches for property transactions in London are carried out electronically so if you choose to use a solicitor that is not based in London, there will be no requirement to visit their office.
When you
receive quotes for your London house sale or purchase, all companies will be able to provide an efficient and knowledgeable service, whether they are based inside or outside the capital.
Conveyancing in London FAQs
How long does conveyancing take in London?
The length of time it takes for conveyancing in London is in alignment with the rest of the UK. The conveyancing process usually takes around 8-12 weeks.
Factors such as the results of searches and surveys can impact how long the process takes.
How much should conveyancing cost London?
The price of conveyancing in London should also be in alignment with the rest of the UK. The current
average price of conveyancing on reallymoving is around £2,038 including fees and disbursements. If you're a First Time Buyer, the average cost in the same time period was £1,314.*
What are standard conveyancing searches?
The main searches that mortgage lenders will require are:
- Local Authority Search
- Water and Drainage Search
- Environmental Search
Other conveyancing searches can be specific to the area such as mining, chancel repair liability, and commons registration searches.
*Based on data collected February 2024