Essential conveyancing terms you need to know
Buying, selling or remortgaging a home can be stressful, especially when you’re faced with unfamiliar legal language. That’s why we’ve created this UK-focused jargon buster to help you understand the key terms used in the conveyancing process.
Whether you’re stepping onto the property ladder, moving home or switching mortgage providers, here’s what you need to know.
Table of Contents
Completion
The day you officially become the property owner and receive the keys. Your conveyancer will transfer the purchase funds to the seller’s solicitor.
Conveyancing
The legal process of transferring property ownership from the seller to the buyer.
Disbursments
Third-party costs your conveyancer pays on your behalf. These may include:
- HM Land Registry fees
- ID verification checks
- Bankruptcy searches
- Telegraphic transfer fees (for sending mortgage funds)
Energy Performance Certificate (EPC)
A legal requirement before you can market your home. It rates your property’s energy efficiency from A (most efficient) to G.
Exchange of contracts
When both parties sign and exchange contracts. At this point, the deal becomes legally binding. You can no longer back out without financial penalties.
Fittings and Contents Form (TA10)
Specifies what items (e.g., curtains, light fittings, appliances) are included or excluded from the sale.
Freehold vs Leasehold
- Freehold: You own the property and the land it’s built on.
- Leasehold: You own the property for a set period, but not the land, common with flats. Ground rent and service charges often apply.
Gazumped
A term used in UK property transactions when a seller verbally accepts an offer from a buyer but later accepts a higher offer from another party before contracts are exchanged, making the initial agreement non-binding.
Gazundering
When a buyer lowers their offer just before exchange. It’s legal but considered unethical. This can happen in a slow market.
Land Registry
The government body that records property ownership. Your conveyancer will register you as the new owner post-completion.
Mortgage deed
A legal document signed by you giving the new lender security over your property. This will be registered at HM Land Registry.
Mortgage offer
A formal loan offer from a mortgage lender. Your conveyancer will review the conditions before proceeding.
No transfer of ownership
Unlike a sale or purchase, remortgaging doesn’t involve changing ownership, only the financial provider changes.
Property Information Form (TA6)
Provides detailed information about the property including boundaries, disputes, warranties and any work that has been carried out.
Redemption statement
A document from your existing lender showing the balance needed to pay off your current mortgage, including any early repayment charges.
Remortgage
Switching your mortgage to a new lender. This is often done to secure a better interest rate or release equity.
Searches
Searches ordered by your conveyancer to check for potential issues. These typically include:
- Local authority search – planning, building regs, road schemes
- Environmental search – flooding, land contamination
- Water and drainage Search – confirms mains connections
Stamp Duty Land Tax (SDLT)
A tax payable to HMRC when purchasing property above a certain threshold. First-time buyers may qualify for relief.
The chain
A series of linked property transactions. If one link fails (e.g., someone pulls out), the entire chain can collapse.
Title check
Your conveyancer will review your property’s title to ensure it’s free of legal issues and the new lender can register a charge.
Title deeds
Legal documents that prove ownership. Most properties are now digitally recorded at HM Land Registry.
Who we help
Buying a home
We make the legal side of buying a home simple, with one friendly team guiding you from acceptance of your offer to moving day.
Selling a home
Our conveyancers handle everything efficiently, keeping you updated and making your sale straightforward.
First-time buyers
We’re first-time buyer specialists who take you through every step of your first home move so it’s clear and easy to understand.
Remortgaging
We make remortgaging hassle-free, handling all the legal bits and pieces while you focus on your next steps.
Wherever you’re headed, we’re here to help