Conveyancing is a complicated process. Here, we answer some questions you may have:
When you buy or sell a property, a solicitor or licensed conveyancer will handle the legal side of things. Among other tasks, they’ll typically:
Property searches are enquiries made by your solicitor or licensed conveyancer, to find out more about the property you want to buy. These include:
If the land has previously been used for another purpose, your mortgage lender may ask whether there is any contamination risk or other environmental risk. If there is, your conveyancer may arrange for an environmental search, which could show any remaining risks with the land.
When you buy or sell a property, you’ll be responsible for choosing your solicitor or licensed conveyancer.
If you’re using a mortgage broker, they may recommend one to you. If you choose a solicitor, they will need to be a conveyancing specialist, whereas all licensed conveyancers are specialist property lawyers.
Make sure you check their credentials and availability and compare different quotes. You could also ask family and friends for recommendations.
If you’re taking out a mortgage with HSBC, your chosen solicitor or licensed conveyancer will need to meet the following basic criteria to be able to act for us, as well as you:
| Mortgage amount |
Number of partners in the firm* |
|---|---|
Under £350,000 |
1 solicitor / licensed conveyancer / regulated managers |
| £350,000 to £2 million |
2 or 3 solicitors / licensed conveyancers / regulated managers |
| Over £2 million |
4 or more solicitors / licensed conveyancers / regulated managers |
| Mortgage amount |
Under £350,000 |
Under £350,000 |
|---|---|---|
| Number of partners in the firm* |
1 solicitor / licensed conveyancer / regulated managers
|
1 solicitor / licensed conveyancer / regulated managers
|
| Mortgage amount |
£350,000 to £2 million |
£350,000 to £2 million |
| Number of partners in the firm* |
2 or 3 solicitors / licensed conveyancers / regulated managers |
2 or 3 solicitors / licensed conveyancers / regulated managers |
| Mortgage amount |
Over £2 million |
Over £2 million |
| Number of partners in the firm* |
4 or more solicitors / licensed conveyancers / regulated managers |
4 or more solicitors / licensed conveyancers / regulated managers |
*The firm must be registered with one of the following: Solicitors Regulation Authority or The Law Society of Scotland or The Law Society of Northern Ireland or the Council for Licenced Conveyancers. All firms must have a minimum professional indemnity insurance cover of £2 million and for lending over £2 million, they must have professional indemnity insurance of £5 million.
Additional checks and requirements also apply.
The conveyancing process in Scotland and Northern Ireland differs in several important respects from that in England and Wales. If you’re buying or selling a property in either Scotland or Northern Ireland, you need to take legal advice as early as possible when thinking of either buying or selling.
According to the MoneyHelper, legal fees can range from £850 to £1,500, including VAT. Local property searches are typically around £250 to £300, on top of the legal fees.
In England and Wales, the conveyancing process takes between 6 to 12 weeks, on average, to complete.
If you remortgage to a new lender, a solicitor or licensed conveyancer is still required. They will often be appointed by the lender.
When remortgaging, the conveyancing process is typically quicker than if you were to buy or sell a property.
Conveyancing fees can vary, and some lenders will include free legal work when you remortgage with them.
At HSBC, you may have the option to choose a bank-appointed panel solicitor where the standard legal fees are covered by us.
Or you may be able to appoint your own solicitor or licensed conveyancer to act for us both, as long as they meet our criteria. You’ll pay all the legal fees for this.
If any additional legal work is required, you'll be responsible for the costs.
| Included: | Not included: (additional fees will apply) |
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| Not included: (additional fees will apply) |
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If you’re remortgaging to HSBC, our solicitor or licensed conveyancer will:
As the solicitor or licensed conveyancer is working on our behalf, they’ll only contact you if they need more information from you, or to update you on progress with your remortgage.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
