Buying your first home is an exciting milestone, but it also involves navigating a detailed legal process known as conveyancing. This step ensures a smooth transfer of property ownership from seller to buyer.
A solicitor manages the legal work for you, simplifying complex terms and providing expert guidance. They help you make confident, informed decisions every step of the way.
In this guide, we discuss what first time buyers can expect from the conveyancing process.
Choosing a Solicitor as a First Time Buyer
A solicitor will act on your behalf throughout your property transaction once you have made an offer on a property. Hiring a solicitor as a first time buyer has many benefits including:
Explaining any legal jargon
Offering expert advice
Reviewing and submitting necessary documents
Negotiating on your behalf
Making payments to third parties on your behalf
Some transactions can be more complex such as leasehold property purchases. A solicitor can thoroughly review the additional paperwork such as the Leasehold Management Pack.
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Solicitor Costs for First Time Buyers
The average solicitor fee when buying a house is £1,320* for freehold properties and £1,490* for leasehold properties. This is based on the UK average property price of £285,000*.
Here are some additional fees to consider:
Service | Average Cost (£) |
|---|---|
| Disbursements | £485.50 |
| Land Registry | £7 |
| Stamp Duty Land Tax | Varies |
These costs are known as third-party disbursements. This means that they are not included in your solicitor's legal fee. However, your solicitor will make these payments on your behalf.
Disbursements
Disbursement costs for first time buyers are lower because it is unlikely that they will have to pay Stamp Duty. This disbursement cost includes conveyancing searches, bank transfer fees, and copies of the title deed.
Land Registry
After completion, homebuyers must pay a Land Registry fee of £7. This cost provides you with the legal title for the property, confirming you are the new owner.
Stamp Duty Land Tax (SDLT)
Stamp Duty Land Tax (SDLT) varies depending on what part of the UK the property is. Most first time buyers do not pay SDLT as the purchase price does not exceed the thresholds. However, it’s essential to understand the thresholds as it can be one of the biggest costs.
In England and Northern Ireland, the Stamp Duty Land Tax first time buyers’ threshold is £425,000.
In Scotland, the Land and Buildings Transaction Tax first time buyers’ relief means no land tax is paid on properties under £175,000.
In Wales, there is no first time buyers’ relief. The threshold for Land Transaction Tax is £225,000.
Use our Conveyancing Fees Calculator for an estimate on your conveyancing fees.
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Conveyancing Process for First Time Buyers
Once your offer has been accepted, you can begin the conveyancing process. While the legal process can differ depending on the property type and location, here are some key steps that are found in most cases:
Finding a Solicitor
Finding a solicitor is the first step in the process. Compare My Move can connect you with firms that are regulated and have relevant experience. Hiring a solicitor early on will prevent any delays throughout the process.
Instructing Your Solicitor
Once your offer is accepted, you should contact your solicitor and instruct them to begin the process. Your solicitor will request basic personal information and property details. These include:
- Full name
- Current address
- Agreed sale price
- Mortgage offer
You should also let your estate agent know who you have chosen as your solicitor. Following this, the seller’s solicitor will send a contract pack to your solicitor.
Conveyancing Searches
Your solicitor will arrange conveyancing searches which are split up into three major sections:
- Environmental Search
- Local Authority Search
- Water and Drainage Search
These searches will determine any environmental problems or issues that you need to know about such as flooding. In some cases, you may need a specialist search carried out such as a mining search for those buying a property in a mining area.
Enquiries and Negotiations
Once you have received your survey report, your solicitor can begin pre-contract enquiries and negotiations. These are based on the results of the survey and the legal searches. For example, if you received negative survey results, your solicitor can put forward a renegotiated offer to reflect this.
Exchanging Contracts
Your solicitor and the seller’s solicitor will exchange contracts. This will render the sale legally binding. This can only take place when the deposit has been paid and you will also receive a completion date.
Completion Day
Completion day takes place up to a month after the exchange of contracts. At this point, you will receive the keys to the property. You’ll also receive confirmation that the payments have been made to the seller.
Final Payments
Following completion, there are final payments that must be paid including Stamp Duty Land Tax (SDLT). Once your solicitor has made these payments on your behalf, you will receive the title deeds and transfer deed.
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Frequently Asked Questions:
What Schemes Are Available to First-Time Buyers?
There are schemes that first-time buyers can use to build up savings and receive government bonuses. These include Lifetime Individual Savings Accounts, Shared Ownership and Help to Buy Schemes.
If a Purchase Falls Through Will I Still Have to Pay My Solicitor?
Some solicitors offer a “no sale no fee” guarantee, meaning you don’t pay the legal fee if your purchase falls through before exchanging contracts. However, any payments you have made to third parties such as surveyors and local authorities will not be refunded. Before beginning the process, you should check with your solicitor if they have the guarantee.
Finding a Conveyancer
Compare My Move connects users with up to 6 licensed conveyancers operating in their local area. Simply fill out our conveyancing comparison form to receive up to 6 quotes and save up to 70% on your conveyancing fees.
To join our network, all partners must pass our strict verification process. For conveyancers, this includes being regulated by one of the following regulatory bodies:
Solicitors Regulation Authority (SRA)
Council for Licensed Conveyancers (CLC)
Law Society of Scotland (LSS)
Law Society of Northern Ireland (LSNI)
Chartered Institute of Legal Executives (CILEX)
*Based on the average service costs for Compare My Move users. See how our data works.
