Buying or selling a house can often become drawn-out and stressful, with unnecessary delays.
WYM Legal believes that you should get the right level of service during what can be the most important sale or purchase of your life.
We combine continual communication, extended opening hours and property technology to get the whole process moving as quickly as it can.
We offer residential conveyancing support with a first class service in a broad range of services to include the following:
We work closely with other professionals (including agents, independent financial advisors, surveyors and tax specialists) to provide an efficient and smooth service.
Getting a quote takes seconds and will give all the financial costings applicable to your purchase.
Each sale and purchase transaction is unique, although the key stages are similar:
Once you have instructed us, we will verify your identity and ensure all of our initial forms are completed.
Where you are selling a property, we will dispatch a contract pack to your buyer’s conveyancer. For purchases, we will receive the contact pack from your seller’s conveyancer.
Where you are selling, we will respond to any enquiries received from your buyer’s conveyancer. For purchases, we carry out searches and raise enquiries of the seller’s solicitor on your behalf.
Where you are purchasing, we produce a Property Report (and a Mortgage Report where relevant).
When everyone is happy to proceed, we will exchange contracts on your behalf. Where you are selling, we wait for the buyer’s conveyancer to send through the deposit and where you are purchasing, we send the deposit to your seller’s conveyancer.
On the day of completion, for sales, we wait for the money to be sent by the buyer’s conveyancer, we pay off any mortgages and return the net sale proceeds to you. Where you are purchasing, we send the purchase money to the seller’s conveyancer.
Finally, where you are purchasing, we pay the Stamp Duty Land Tax to HMRC and we register the property in your name (together with any mortgage where applicable).
In December 2018, the Government published figures indicating that the national average time for a sale or purchase transaction is 16 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 4-6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer. Our average timeframe is 6-12 weeks, which makes us significantly quicker than the national average.
We have financial agreements with some introducers but we absorb these costs and do not pass them onto our clients.
The length of time that your conveyancing will take can depend on many factors such as the Legal Title for the property, the length and complexity of any chain, whether there are mortgages involved, whether the property is Freehold or Leasehold, and whether there are any management companies involved. If your property is a house it may be either Freehold or Leasehold, whereas a Flat or Maisonette will usually be Leasehold.
On average a standard Freehold sale or purchase case will take around 6-8 weeks, with Leasehold matters generally taking longer at about 8-12 weeks. Remortgage and Transfer of Equity matters are usually more straight forward and generally take about 3-6 weeks. It can be difficult to predict the precise conveyancing timescale at an early stage in the transaction and we do not therefore recommend placing reliance upon any specific completion dates. Your Conveyancer will guide you as to the progress of your case over the course of the transaction.
Altogether the Conveyancing process for sale and purchase matters includes more than 80 individual steps, some of which you will be actively involved in but most of which will be handled by us behind the scenes. Some of the key stages of your Conveyancing will include: