Clear explanations of common conveyancing terms, lease extension terminology, mortgage and surveys so you can understand the process with confidence.
Whether you’re buying, selling, extending a lease or arranging finance, this guide answers frequently asked questions and defines the property terms you’re most likely to encounter.
FAQs & Glossary of Terms
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In the UK, conveyancing typically takes between 8 and 12 weeks from the point your offer is accepted to completion day. However, timescales can vary depending on several factors.
Delays are often linked to the length of the property chain, mortgage offer turnaround times, leasehold enquiries or how quickly information is provided by both parties and, if applicable, freeholders or managing agents.
Freehold transactions are generally more straightforward while leasehold purchases can take longer due to additional management pack enquiries and service charge documentation.
Instructing your solicitor early can allow you to get a head start on onboarding and form filling which can save 1-2 weeks at the beginning of the process.
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Conveyancing costs are usually made up of two parts:
Your solicitor’s legal fee.
Disbursements, such as searches, Land Registry fees and bank transfer charges.
Early costs for buyers would be search pack fees, ID and anti-money laundering checks. Sellers will usually pay up front for their ID checks, obtaining title documents and, where applicable, ordering their management information pack.
Some firms offer a “no sale, no fee” arrangement, meaning you won’t pay the legal fee if your transaction falls through, although third-party disbursements will still be payable.
Costs most commonly vary depending on property value, whether it is leasehold or freehold, and if there is a mortgage lender involved.
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Once your offer is accepted, you will need to provide the estate agent with details of your conveyancer or solicitor.
Your estate agent will send sales memorandums to the seller and buyer and both their solicitors notifying them of the agreed sale.
For buyers:If not already done so, you will onboard with your solicitor.
You will need to pay for your searches and submit your mortgage application as soon as possible.
Your solicitor will receive the draft contracts from the seller’s solicitor.
They will order your property searches.
Raise enquiries with the seller’s solicitor, report to your lender
Review your mortgage offer.
For sellers:
You should complete your protocol forms if not done prior to the offer.
Your solicitor can then send the draft contract pack to your buyer’s solicitor.
Pay for your management pack (if applicable).
Your solicitor will liaise with the buyers’ solicitor on their enquiries.
Once all enquiries are satisfied and your mortgage offer is in place (if applicable), a completion date agreed and contracts are exchanged. -
No. You are not required to use the solicitor recommended by the estate agent.
Estate agents often have commercial referral arrangements with certain firms. While some recommended solicitors provide good service, you are entirely free to choose a solicitor who suits your needs and communication preferences.
It’s important that you feel confident in the professional handling your transaction and understand how they will manage your file.
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Exchange of contracts is the point at which the transaction becomes legally binding.
Before exchange, either party can withdraw from the sale without penalty. After exchange, both the buyer and seller are committed to completing the transaction on the agreed date.
At exchange, a completion date is agreed and the buyer usually pays a deposit (commonly 10% of the purchase price) to their solicitor. Completion then takes place on the agreed completion date. This is when funds are transferred and ownership changes.
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Property searches are carried out by your solicitor to uncover issues that may not be visible during a viewing. They are required when buying with a mortgage.
The main searches include:
Local Authority Search: Shows planning history, building regulation records, conservation area status and any proposed road schemes or developments that may affect the property.
Water & Drainage Search: Confirms the property is connected to mains water and sewerage and shows the location of nearby public sewers.
Environmental Search: Checks for potential risks such as contamination, flooding, subsidence or proximity to landfill or hazardous sites.
Chancel Repair Liability: Identifies whether the property could have a historic obligation to contribute towards repairs of the local parish church. If relevant, indemnity insurance is usually arranged.
Additional searches may be required depending on the location of the property, such as mining or detailed flood risk assessments. Search results help you understand potential risks before you exchange contracts.
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A winning move would be to instruct a conveyancing solicitor before your property goes on the market, or as soon as you decide to sell. It’s as important as instructing your estate agent.
Early instruction allows your solicitor to prepare key documents in advance, including:
Official title documents from HM Land Registry
The draft contract pack
The TA6 Property Information Form (recently updated with more detailed disclosure requirements)
The TA10 Fittings & Contents Form
The updated TA6 form requires clearer disclosure about disputes, notices, planning matters, building works, guarantees and other property related issues. Completing this carefully before marketing helps avoid delays, renegotiations or last-minute complications once a buyer is found.
If your buyer is ready but your paperwork is not, valuable time can be lost. Being prepared from the outset allows the contract pack to be issued promptly after an offer is accepted. This keeps momentum in the chain and reducing unnecessary stress.
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As a buyer, you should instruct a conveyancing solicitor as soon as your offer is accepted and ideally before, if you are actively house hunting.
Benefits of instructing early:
Allows your solicitor to verify your identity and open the file. Onboarding can take time.
You can gather required anti-money laundering documents in advance.
Shows estate agents you are a serious buyer.
Understand your legal costs for confident budgeting.
For buyers, having a solicitor lined up means there is no lost time once your offer is agreed.
For sellers, instructing before your property goes on the market can prevent delays later in the transaction.Early instruction helps maintain momentum and reduces the risk of unnecessary hold-ups - particularly in competitive or chain-dependent transactions.
Common Conveyancy Questions
Common Lease Extension Questions
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The cost of a lease extension depends on your remaining lease term, ground rent and property value. If your lease has less than 80 years remaining, marriage value becomes payable, which can significantly increase the premium.
You should also budget for:
Your solicitor’s legal fees
A specialist valuation fee by a surveyor
The freeholder’s legal and valuation costs
The premium agreed. You can get an idea of what this could be using our handy Calculator.
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When a lease falls below 80 years, marriage value becomes payable under the statutory lease extension process. This can greatly increase the cost of extending overnight and why buyers are unlikely to purchase a flat approaching this.
Marriage value is the increase in the property’s value created by extending the lease. 50% of that uplift is payable to the freeholder. This can greatly increase the cost of extending.
Acting before the 80 year threshold is often financially advantageous.
If you are looking to sell your flat, you will ideally have a lease of 100 years or more. Flats with leases in the mid-80s can also limit mortgage products available to you.Your solicitor will help you gather everything before your property is marketed. -
A statutory lease extension can actively take 8 months from serving the Section 42 Notice to completion. If the case needs to go to tribunal, it can take longer.
The timeline depends on:
Valuation negotiations
Responsiveness of the freeholder
Whether Tribunal determination is required
Preparation before serving notice can help reduce delays.
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A Section 42 Notice is the formal legal notice served by a leaseholder to start the statutory lease extension process.
It includes the leaseholder’s entitlement and the proposed premium the freeholder would like to offer.
Once served, strict statutory timelines apply to both the leaseholder and freeholder.
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Yes, under the statutory process you are responsible for the freeholder’s legal and valuation costs.
However, you are not required to pay costs relating to tribunal proceedings if the process leads on to the stage.
Your solicitor can advise on what is considered “reasonable” costs for the freeholder.
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Extending your lease before selling can protect value and make your property more attractive to buyers. Your agent will recommend you lease should be more than 100 years remaining to appeal to the most buyers.
Properties with shorter leases can reduce buyer interest, limit mortgage availability and lead to low offers which outweigh the cost of extending the lease yourself.
If your lease is less than 100 years, exploring your options early may improve saleability.
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To qualify for a statutory lease extension in England and Wales, you must own a flat held under a long lease originally granted for more than 21 years.
Since January 2025, leaseholders are no longer required to have owned the property for two years before starting the statutory process.
To be eligible, you must:
Be a qualifying leaseholder (not a business tenant)
Hold a long lease originally granted for more than 21 years
Be the registered legal owner of the flat
If you meet the criteria, you have the legal right to:
Extend your lease by 90 years
Reduce the ground rent to a peppercorn (effectively zero)
Certain categories of landlord and specialist ownership structures may require additional consideration, so reviewing your lease and title at an early stage is advisable.
If you are unsure whether you qualify, understanding your lease term and ownership status is the first step before taking formal valuation advice. We can help with this.
Common Mortgage & Survey Questions
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Your mortgage lender will carry out a valuation on the property as standard but this is not the same as a property survey carried out by your own independent surveyor.
A mortgage valuation is there to protect the lender, and their financial interest. A RICS Home Level 2 or Level 3 survey provides a detailed inspection of the property’s condition and highlights potential defects, such as damp or signs of movement, before you exchange contracts.
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A Level 2 survey is suitable for conventional properties in reasonable condition and flats, while a Level 3 survey is more detailed and suited to older or altered buildings.
Level 2 (Homebuyer Report): Highlights significant defects and urgent issues.
Level 3 (Building Survey): Provides in-depth analysis of structure and condition.
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You should arrange mortgage advice before making an offer and preferably before your start viewing properties as this demonstrates to the estate agent that you have checked your affordability before committing to booking viewings.
Obtaining a Decision / Agreement in Principle (DIP/AIP) demonstrates affordability and strengthens your position when negotiating.Once your offer is accepted, you can submit your full mortgage application can proceed.
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An independent mortgage broker can access a wider range of lenders than a single bank.
While rates may be similar, brokers assess lender criteria, flexibility and suitability. This can be particularly helpful for self-employed or complex income cases. -
A mortgage offer typically takes 2 to 4 weeks after submitting a full application.
Timescales depend on lender processing times, valuation availability and how quickly documents are supplied.Complex applications may take longer.
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If your surveyor identifies significant defects, you have options before exchange of contracts. It’s recommended that you discuss this with your estate agent. They can relay your concerns to the seller. The seller may even have guarantees/warranties for work previously carried out for these issues.
You may:
Renegotiate the purchase price
Request repairs
Ask for specialist reports
Withdraw from the purchase
A survey provides clarity before you become legally committed.
Glossary of Common Terms
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Agreement in Principle (AIP)
An indication from a mortgage lender of how much they may lend based on initial financial checks. Also known as a Decision in Principle.Building Survey (Level 3 Survey)
A detailed RICS inspection suitable for older or altered and freehold properties.Chain
A series of linked property transactions dependent on each other completing.Chancel Repair Liability
A historic obligation requiring some property owners to contribute to church repairs.Completion
The day funds transfer and ownership legally changes hands.Completion Statement
A solicitor’s document with the financial breakdown of funds required or due at completion.Contract Pack
The legal documents prepared by the seller’s solicitor, including draft contract and title documents. Also known as Draft Contracts.(Licensed) Conveyancer
A legal professional who handles the transfer of property ownership from one person to another. Regulated by the Council for Licensed Conveyancers (CLC)Conveyancing
The legal process of transferring property ownership.Covenant
A legally binding obligation within a property title. -
Deed of Variation
A legal document used to formally change or update the terms of a lease.Deposit (conveyancing)
Typically 10% of the purchase price, paid by the purchaser to exchange contracts.Disbursements
Third-party costs paid by your solicitor such as searches, ID checks or Land Registry fees.EPC (Energy Performance Certificate)
A certificate rating a property's energy efficiency.Enquiries
Questions raised by the buyer’s solicitor to clarify legal or practical matters.Enfranchisement
The process by which leaseholders collectively purchase the freehold.Environmental Search
A search identifying flood risk, contamination and environmental concerns.Exchange of Contracts
The point a property transaction becomes legally binding.Fixtures and Fittings (TA10 Form)
A form confirming which items are included in the sale.Flying Freehold
Where part of a property extends over or under another owner’s land.Freeholder
The owner of the freehold interest in a property. -
Gazump
When a seller accepts a higher offer from a buyer after previously agreeing to another.Ground Rent
Payment made by a leaseholder to the freeholder.Head Lease
A superior lease granted out of the freehold.Indemnity Insurance
Insurance policy protecting against specific title or legal risks.Lease Extension
A statutory or informal process extending a lease term.Land Registry
The government body recording property ownership in England and Wales.Leasehold
Ownership of a property for a fixed term under a lease.Leaseholder
The person who holds the lease.Local Authority Search
A search revealing planning and local authority matters affecting the property. -
Management Pack
Information provided by managing agents in leasehold sales. Can be called the pre-assignment pack.Marriage Value
The increase in property value following a lease extension (relevant on leases below 80 years).Mortgage Offer
Formal confirmation from a lender agreeing to provide funding.Offer Accepted
When a seller formally agrees to a buyer’s proposed purchase price.Peppercorn Ground Rent
A nominal ground rent (effectively zero).Premium (Lease Extension)
The sum paid to a freeholder to extend a lease.Property Information Form (TA6)
A seller-completed form disclosing disputes, planning, guarantees and property history.Redemption Statement
A statement from a lender confirming the amount required to repay a mortgage.Remortgage
Replacing an existing mortgage with a new lender or product.RICS (Royal Institution of Chartered Surveyors)
The professional body regulating chartered surveyors. -
Searches
Investigations carried out by a solicitor to uncover issues affecting the property. Usually in the form of a Search Pack.Section 42 Notice
Formal notice served to begin a statutory lease extension.Service Charge
Payment by leaseholders toward maintenance of the building/shared areas.(Conveyancing) Solicitor
A regulated legal professional handling property transactions. Solicitors in England and Wales are regulated by the Solicitors Regulation Authority (SRA)Stamp Duty Land Tax (SDLT)
Tax payable on property purchases in England.Title Register
Official Land Registry record confirming ownership and legal interests.Title Plan
The Land Registry plan showing property boundaries.Tribunal (First-tier Tribunal Property Chamber)
A body resolving leasehold disputes where parties cannot agree.Under Offer
Indicates a seller has an accepted offer on their property but contracts have not yet been exchanged. Also known as Sold Subject to Contract (SSTC)
“From my very first conversation with Emma, everything changed. She didn’t just give us a list of names; she took the time to understand our specific situation and quickly introduced us to the perfect, vetted experts for our complex case.
Emma is a true professional in a confusing industry. Her guidance gave us clarity and confidence and the team she connected us with managed the entire statutory process flawlessly. She took the stress out of our property move and saved us countless hours of searching. We cannot recommend her service enough.”