The Conveyancing Process: An Overview

A standard residential freehold purchase proceeds in broadly the following sequence:

• Client instructions and funding confirmed; conflict check; money laundering verification
• Draft contract received from seller’s solicitor; pre-contract searches and enquiries raised
• Mortgage offer received; report to client
• Exchange of contracts — parties become legally bound; deposit paid (usually 10%)
• Post-exchange steps: land charges search, priority search at Land Registry (OS1)
• Completion — balance of purchase price transferred; keys released; seller’s solicitor redeems mortgage
• Post-completion: SDLT return and payment within 14 days; Land Registry application within priority period

Pre-Contract Searches

Before exchange, the buyer’s solicitor conducts searches to reveal matters affecting the property. Key searches include:

• Local authority search (LLC1 and Con 29): Reveals planning history, road adoption, enforcement notices, and statutory obligations affecting the land.
• Drainage search: Confirms whether the property is connected to public sewers and the location of drains.
• Environmental search: Identifies contaminated land, flood risk, and ground stability issues.
• Land Registry OS1 priority search: Conducted just before completion; protects the buyer’s application for 30 working days.

The OS1 priority search is one of the most tested procedural steps. Its 30-working-day priority period means the buyer’s solicitor must complete and submit the Land Registry application within that window — or lose the protection against later registrations.

Stamp Duty Land Tax (SDLT)

SDLT is payable on the purchase of land above certain threshold values. For residential property:

• Up to £250,000: 0% (standard rate)
• £250,001–£925,000: 5%
• £925,001–£1.5m: 10%
• Over £1.5m: 12%

First-time buyer relief applies for purchases up to £625,000. Higher rates apply for additional dwellings (3% surcharge). SDLT is calculated on the amount within each band (a slice system, not a slab system). The return must be submitted and tax paid within 14 days of completion.

Title Investigation

For registered land, the buyer’s solicitor obtains official copies of the register (title register and title plan) from the Land Registry. They must check:

• The proprietorship register — who owns the land and any restrictions on disposal
• The charges register — mortgages, covenants, and other encumbrances
• The property register — description of the property and appurtenant rights

Mortgages

Most residential purchases are financed by a mortgage. The solicitor often acts for both buyer and lender (subject to conflict checks). The lender will impose conditions in the mortgage offer, and the solicitor must report to the lender on any matters that might affect the security. On completion, the existing mortgage on the seller’s title must be redeemed and a Form DS1 (or electronic discharge) obtained.

Practise This Topic on Sqewise

Property practice questions in FLK2 often involve calculating SDLT, identifying the correct search, or advising on a problem that has arisen in a transaction. Practise property questions on Sqewise, use the study planner to allocate sufficient time to this topic, and explore our full mock exams.

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