Landlord Conveyancing for Buy to Let Rental Properties
What is Conveyancing?
Conveyancing takes place when you buy, sell or re-mortgage any property. Conveyancing is when the ownership of property or land is transferred from one party to another. The process ensures the completion of the relevant paperwork and assessments to successfully transfer property from one owner to another. The Conveyancing process begins when an offer has been accepted on property or land, and the two parties have exchange details.
Who does Conveyancing for Buy to Let Landlords?
Conveyancing can be legally be done by any individual providing they possess the necessary time and experience, but usually a solicitor or Conveyancer is used.
With many other things to consider when moving house, many people prefer to have a Licensed Conveyancer or solicitor. A Licensed Conveyancer is a qualified lawyer who specialises in property law. Using a professional for Conveyancing ensures the successful completion of the transfer and that any potential problems are resolved. Often the other party may not be happy if you are doing your own Conveyancing, as there is more scope for things to go wrong. In some cases, they may reject the offer on this basis alone. If you are purchasing property on a mortgage, the company may require a professional conveyancer or solicitor be used, in order to ensure their rights are protected and no problems occur.
Online Conveyancing for Buy to Let Landlords
It is possible to use an Company to complete the transfer of your property or land. Online Conveyancing Companies provide instant quotes for selling, buying and re-mortgaging property. This option is more cost effective and allows you to complete the process from the comfort of your home.
The process can usually begin once you have completed any online forms or contacted a member of the Conveyancing Company. A solicitor will be appointed to deal with the Conveyancing for your property or land to ensure that the transfer goes through smoothly and within the correct time scale. You can normally contact your conveyancer by e-mail, post or telephone to discuss the process and raise any questions you may have. Many online Conveyancing companies guarantee no fees if the sale or re-mortgage of property does not go ahead.
Online companies state the average Conveyancing time for a property takes between eight and ten weeks. If you are re-mortgaging your property, it can take around four weeks for the transfer to be completed. However, some companies are willing to speed up the process based on the time scale you give them.
Conveyancing Solicitors for Buy to Let Landlords
You can also use a local solicitor to complete the transfer process for you. It is advisable to find a solicitor who specialises in Conveyancing and who is registered with the Law Society, which requires them to conform to a Code of Practice.
Licensed Conveyancer for Rental Properties
Another option is to use a Licensed Conveyancer who is registered with the Council for Licensed Conveyancers. A licensed Conveyancer is a specialist property lawyer who has been trained in all areas of property law, and would be able to complete the Conveyancy process on your property or land.
The Council for Licensed Conveyancers (CLC) ensures that services provided to the public are effective and efficient, and all Conveyancers have undergone relevant experience and training. Licensed Conveyancers may have their own practice or form part of a team of Conveyancers. The CLC has strict guidelines on who can become a Conveyancer and ensures CLC examinations are successfully completed in addition to practical training.
If you decide to use a Licensed Conveyancer then they will be recognised by all key organisations and bodies involved in the buying, selling and re-mortgaging of property such as banks and mortgage lenders.
Choosing a Conveyancer for your Investment Property
When choosing a Conveyancing Company or Solicitor it is advisable that you select one which is registered with the Council for Licensed Conveyancers (CLC) or the Law Society.
If you are using an online Conveyancing Company, it is advisable that the company is registered, either with the CLC or the Solicitors Regulation Authority. There is also a helpful guide on Probate related to buy to let landlords.