Your conveyancer needs to check the lease, your mortgage and the housing provider’s requirements. That might sound complicated, but you do not need to become a property lawyer overnight.
We'll explain what happens, who does what and how you can help keep things moving.
To help make the process a little clearer, we’ve worked with Shared Direction Conveyancing, with Director Bevin Woby reviewing the content in this guide.
What is conveyancing?
In a sentence, conveyancing is the legal process of transferring a home from one owner to another.
It begins when you instruct a solicitor or licensed conveyancer and continues through searches, enquiries, exchange of contracts, completion and registration of your ownership.
Your conveyancer is there to make sure you understand what you are buying and that the legal title is in order. They will also check that the purchase meets your mortgage lender’s conditions.
With Shared Ownership, they also have job of making sure your lender and housing provider are happy with the lease and the arrangements for the share that you are buying.
What does a conveyancer do?
Your conveyancer handles the legal paperwork, orders searches, reviews the contract and raises questions about anything unclear.
They also check the property title, explain your lease, report to your mortgage lender, transfer the purchase money and register the transaction after completion.
And they will be your main point of contact for legal questions. If a clause, charge or restriction is not clear, ask them to explain it in plain English before you sign.
Choosing a solicitor or licensed conveyancer
A solicitor can handle a wide range of legal work, while a licensed conveyancer specialises in property.
Either can manage a purchase, but Shared Ownership experience is genuinely useful. These transactions involve a lease, a housing provider and a mortgage lender, so someone familiar with all three is less likely to be caught out by an unfamiliar requirement.
Before choosing, check that the firm is accepted by your mortgage lender and ask for a detailed quote.
Look beyond the headline fee: searches, bank transfers, registration and other disbursements may be listed separately. It is also worth asking who will handle your case and how often they provide updates.
The conveyancing process step by step
Instructing your conveyancer and reviewing the paperwork
Once your offer has been accepted and your Shared Ownership application is progressing, you instruct your conveyancer.
They will ask for identification, proof of address and evidence showing where your deposit is coming from. Responding quickly at this stage can save a lot of back-and-forth later.
The seller’s legal team then sends over the contract pack. For a Shared Ownership home, this is likely to include the draft lease and information supplied by the housing provider such as Peabody.
Your conveyancer reviews the papers, checks the title and highlights anything that needs further explanation.
Searches, enquiries and the mortgage offer
Conveyancing searches give your legal adviser information that may not be obvious from a viewing.
The usual searches cover the local authority, water and drainage, and environmental matters. Depending on the property and area they may recommend extra checks.
They will also raise enquiries with the seller’s solicitor. These might cover planning permissions, boundaries, building warranties, service charges or details within the lease.
At the same time your lender will work towards issuing the formal mortgage offer. Your conveyancer checks its conditions and makes sure the mortgage is suitable for the Shared Ownership purchase.
Exchange, completion and registration
Before exchange, you should receive a report explaining the key legal points, along with documents to sign.
Read it carefully and ask about anything you do not follow. Once contracts are exchanged, the purchase becomes legally binding and a completion date is agreed.
On completion day, your conveyancer sends the funds to the seller’s solicitor. The keys are then released once the money arrives.
Afterwards, your conveyancer deals with any tax return required, registers your interest with HM Land Registry and sends any relevant notices or documents to the housing provider.
How conveyancing works for Shared Ownership
The broad process is much the same as any home purchase, but Shared Ownership adds a few important checks.
You are buying a percentage of the home and becoming a leaseholder, while paying rent to the housing provider on the share you don't own.
Checking the Shared Ownership lease
The lease sets out the rules and responsibilities that come with the home.
The conveyancer should explain how long the lease runs, how rent is reviewed, who deals with repairs, what alterations need consent and what happens if you want to sell or buy more shares later.
They should also check that the lease works for your mortgage lender. If your lender asks for clarification or an amendment, the conveyancer will liaise with the housing provider’s legal team.
Your share, rent, service charges and mortgage
Your papers should clearly show the percentage you are buying, the price of that share and the rent payable on the remaining share.
Your conveyancer will check these figures against the memorandum of sale, lease and mortgage offer so everyone is working from the same information.
They will also review the service charge details.
Working with the housing provider
The housing provider may need to approve certain parts of the transaction, provide lease information, and receive documents after completion. There may be deadlines linked to reserving the home or exchanging contracts.
Your conveyancer will normally handle the legal contact, but you can help by keeping your application details accurate and responding quickly if Peabody, your mortgage adviser or your legal team asks for information. A delay with one party can hold up everyone else.
Conveyancing timescales, costs and delays
How long does conveyancing take?
There is no single guaranteed timescale, but a rough average is 12 to 20 weeks.
It depends on how quickly the searches return, whether the enquiries uncover anything complicated, when the mortgage offer arrives and how fast each legal team responds.
Shared Ownership can involve extra coordination, so build in some breathing room and treat any early date as a target rather than a promise.
How much does conveyancing cost?
The average cost of a conveyancer or solicitor in the UK ranges from £1,000 to £2,500 in total.
However, conveyancing fees will of course vary by firm, property and complexity. Your quote will normally include the legal fee plus disbursements paid to other organisations, such as search and registration charges.
Ask for the full cost in writing and check whether VAT and likely disbursements are included.
Some payments, especially search fees, may be requested at the start, with the remaining balance due before completion.
How to help keep your purchase moving
Choose a conveyancer with Shared Ownership experience and confirm they are on your lender’s panel.
Send your ID, deposit evidence and signed forms promptly.
Read emails carefully and answer every question rather than only the easiest one.
Keep your mortgage adviser updated if your circumstances change.
Never send money to new bank details without checking them directly with your conveyancer.
Some waiting is unavoidable, but being organised helps your legal team act as soon as the next piece of information arrives.
Our panel of Solicitors and Conveyancers
We have a panel of experienced solicitors and conveyancers who understand Shared Ownership and can help guide you through the legal process of buying your home:
With thanks to Bevin Woby, Director at Shared Direction Conveyancing, for reviewing this guide.
Frequently asked questions about conveyancing
It is the legal process of transferring a property from the seller to the buyer, including contracts, searches, enquiries, payments and registration.
You will need a solicitor or licensed conveyancer to handle the legal work. Your mortgage lender will also expect a qualified professional to act in the transaction.
Yes, if possible. Shared Ownership purchases include extra lease, lender and housing provider requirements, so relevant experience can make the process smoother.
Common searches cover local authority information, drainage and water, and environmental issues. Additional searches may be recommended depending on the property and its location.
Timescales vary because every purchase is different. Searches, mortgage conditions, legal enquiries and the response times of the parties involved can all affect the date.
Exchange is when the purchase becomes legally binding. Completion is when the money is transferred and you can collect the keys.
