Conveyancing Lawyer

The role of a conveyancing lawyer

Conveyancing lawyers advise on the legal aspects of both the transaction and the property.

Conveyancing lawyers act for the parties below, by providing title and material information which would impact on informed decision making, and the transaction legal effect.

Seller

Buyer

Buyer's Lender

Following the implementation of the protocol, conveyancing lawyers will have the opportunity to collaborate with other stakeholders to ensure an efficient customer journey.

Rules and Regulations

The following rules and regulations apply to conveyancing lawyers

In England and Wales, conveyancing lawyers bide by the relevant Regulator’s Code of Conduct - Council for Licensed Conveyancers, Solicitors Regulatory Authority, or Chartered Institute of Legal Executives.

As traders, UK conveyancing lawyers are also covered by the Consumer Protection from Unfair Trading Regulations 2008 which is updated by the Digital Markets, Competition and Consumers Act 2024 and belong to the Legal Ombudsman scheme.

Conveyancing lawyers must adhere to anti-money laundering and sanctions legislation. Property professionals are required to comply with Money Laundering Regulations 2017, Sanctions and Anti-Money Laundering Act of 2018 and be aware of Proceeds of Crime Act 2002.

All conveyancing lawyers must act in the best interests of their client and failure to comply with common law and legislation carries with it the risk of customer complaints, fines, and even criminal prosecution and prison sentences.

Benefits and opportunities in collaborating to share data

There are many benefits to sharing data in the early stages and throughout the buying and selling process, these include:

Faster certainty

Upfront information can reduce enquiries

Identify the complexity of the title

Material information to inform required resource, level of expertise and correctly charge for the work

Incorporating digital survey data and Material information into the valuation will reduce post valuation queries

Speed up property transaction by sharing property and client information

Giving sellers the choice to resolve title issue before a buyer is found

Better outcomes

Greater protection against fraud and money laundering, less waste on transactions falling through

Improved understanding of the process and property

Resource freed up to provide better customer service

Provides certainty, eliminating last minute re-negotiation caused by previously unknown defects

Reduces duplication of information

Property logbooks can ensure that data is consistent, accurate and the provenance verified

Make more efficient use of housing stock by reducing barriers to moves

What data does a conveyancing lawyer need?

A conveyancing lawyer would benefit from a range of data to support their service, including:

The verified identity of their client

Source of wealth and source of funds

Lease and managed estate information

Information from the seller on their experience of the property

Energy Performance Certificate (EPC)

Environmental data

Local Authority data

Water supply and drainage data

HM Land Registry data

Mining Remediation /Coal Authority data

HS2 and other road or rail or man-made infrastructure

Probate documentation (if relevant), indemnity insurance policies, safety certificates

Whether the property is impacted the Building Safety Act

Glossary of terms

Data sources

A conveyancing lawyer can obtain data from a variety of sources, including:

Information gathered by seller’s estate agent (including commercial and agricultural property agents)

Gathering information direct from seller, verifying* the relevant authorities

Verifying* the material information in existing Property Logbook and/or digital property packs

*Authenticating the origin of the data, allows the conveyancing Lawyer to establish whether the information is verified by the relevant data authority.

Sharing data

The increased sharing of digital data will have many positive impacts, including:

Digital ID certificates will speed up the verification under Anti-Money Laundering requirements for estate agents, conveyancing lawyer, mortgage intermediaries and lenders

The data in the property description, searches, title and seller information is also used by estate agents, surveyors, valuers, mortgage intermediaries, lenders and domestic energy assessors to provide their services

Confirmed readiness of completion funds ahead of completion day

The current process

Process flow to completion

Below are the key stages in a property transaction involving conveyancing lawyers and the main activities they are involved in:

Pre-Listing

Review seller ID
Property Logbook
Assess and advise on pre-marketing inspections/surveys, search data
Title & seller information

Pre-Offer

Review material information
Mortgage Decision in Principle
Proof and source of funds confirmed
Buyer ID

Pre-Exchange

Mortgage instructions
Contract pack
Due diligence
Enquiry of specifics relevant to the buyer and their lender

Pre-Completion

Visibility to seller of final purchase funds in place for on-time completion
Pre-completion searches
Funds requested
Check deeds are digitally signed where possible or signed and witnessed correctly

Completion

Purchase funds distributed as required to seller, seller's lender, conveyancing lawyers, mortgage brokers, HMRC - SDLT
Title registration
Updated Property Logbook passed to buyer to hold for future transactions

• Seller conveyancing lawyer

• Buyer conveyancing lawyer

• Seller and buyer conveyancing lawyers