Compare Property Conveyancing Solicitors in Peterborough

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Moving to Peterborough? Save on Your Property Conveyancing Costs

If you’re searching for a new home in Peterborough, Compare My Move can connect you with up to 5 licensed conveyancers within our network. We can even save you up to 70% on your conveyancing costs in the process.

When buying a home in Conveyancing, you’ll need to hire a reliable conveyancer. They will be responsible for explaining the legal jargon involved and will organise a number of important conveyancing searches to help uncover information about the property and its local area.

For added peace of mind, all of our conveyancing partners must go through our strict verification process prior to joining us and they must be regulated by the SRA, CLC, LSS or LSNI. As your conveyancer will be responsible for organising the vital conveyancing searches and explaining any legal jargon, it’s important you hire the most trusted and professional in your local area.

Our Peterborough Conveyancing Solicitors

    As seen in: BT

    FAQs About Conveyancing in Peterborough

    Our research shows that the average conveyancing costs in Peterborough are £1,320 when buying and £1,270 when selling. It takes approximately 182 days to complete the conveyancing process.

    We found that there is a high risk of flooding in the area, with numerous incidents of flooding, especially around the River Nene. There is also evidence of subsidence, increasing to the north of the area. Peterborough is not at risk of high radon emissions.

    Why Hire a Peterborough Conveyancer?

    The role of a conveyancer is to handle the legal side of the property sale. This includes explaining any complicated legal jargon and arranging the relevant searches.

    Over the last year, 2,812 existing properties were sold in Peterborough and 200 new builds, according to the UK House Price Index. Detached properties saw the largest increase in price, rising by 13.6% in January 2022 alone.

    It's advised that you instruct a conveyancer as soon as an offer has been agreed upon. This ensures a more efficient process and avoids unnecessary delays.

    The conveyancing process includes:

    • Offer agreed
    • Conveyancing searches ordered (if buying)
    • Liaise with your mortgage lender to finalise
    • Agree on the completion date
    • Check the contract and raise pre-contract enquiries
    • Exchange contracts
    • Completion day
    • Pay any Stamp Duty

    It's important to note that there may be additional steps to consider if you’re buying or selling a property that is leasehold.

    Data taken from UK House Price Index

    How Much are Conveyancing Solicitor Fees in Peterborough?

    With the average house price in Peterborough at £228,085, the average conveyancing fees when buying a freehold property is £1,320. If you're purchasing a leasehold home, the price increases to £1,490. When selling property in Peterborough, the average conveyancing cost for a freehold home is £1,270, whilst for leasehold properties, the cost increases to £1,420.

    Your conveyancing costs will depend on a variety of factors, such as your location, whether you're buying or selling, and whether the property is freehold or leasehold.

    As your final conveyancing cost will be made up of the conveyancer’s legal fee and conveyancing disbursements, you should also research the cost of the conveyancing searches in your local area.

    Conveyancing fees include the legal fee and conveyancing disbursements, which include property searches.

    According to Peterborough Council’s website, a full Local Authority Search (LLC1 and CON29R) will cost £147 inc VAT.

    Data taken from Compare My Move’s Moving House Calculator

    How Long Does Conveyancing Take in Peteborough?

    We found that the conveyancing process in Peterborough takes 182 days on average. This is longer than the UK average, which is 159 days.

    In total, the entire buying and selling process from the initial listing to completion, takes 297 days in this part of England. This means that over half the transaction is taken up by the conveyancing process. However, it's important to note that timescales will vary. Factors such as the buyer or seller’s circumstances or complications in the process can factor into the time it takes to complete.

    Another factor that impacts the length of the conveyancing process is whether the property is freehold or leasehold. Buying and selling leasehold properties takes longer as additional steps must be taken. There will also be additional paperwork that your conveyancer will need to complete.

    Data taken from Get Agent

    What to Expect From Conveyancing Searches in Peteborough?

    As part of the conveyancing process, your solicitor will arrange conveyancing searches such as a Local Authority search, Environmental search and Water and Drainage search. These results will highlight any environmental or legal issues with the property and the surrounding area. Searches can reveal factors such as the risk of flooding, subsidence, ground stability and radon gas levels.

    Geobear’s UK Subsidence Map shows there is evidence of subsidence in Peterborough. However, subsidence in this area is less than the finds in nearby Leicester and Norwich. In Peterborough, subsidence is a concern in the northern part of the area more than the south, according to Geobear’s map.

    There is a risk of flooding in Peterborough, particularly from the River Nene. In some areas of Peterborough, the risk of flooding is high. On the 9th of July 2021 alone, there were over 160 incidents of flooding. With this in mind, so be sure to read the details of your environmental search to understand the risks in the area you are looking to buy.

    Data taken from Get The Data and Geobear's Subsidence Map