tel: 0845 9011 960

You are in:- Home Page » Blogs

Hot Property

Beginners Guides, Case Tracker, Change solicitor, Contract, conveyancer, Conveyancing, Conveyancing Quote, DIY Conveyancing, Do your own conveyancing, First Time Buyers, Property, Property Market, property owner, Property Report, property searches, Quicker conveyancing, sale, searches, signing contracts    No Comments

House with key icon

So, your Conveyancer keeps twittering on about ‘exchanging’ and ‘completing’ but, what is exchange? What happens on completion?  Let’s face it all you want to know is when you get your keys right?  So what are we actually talking about?


When your Conveyancer talks about exchange they are referring to the legal ‘exchange of contracts’. In simple terms this procedure legally secures the purchase or sale. It is called an exchange because each Conveyancer has one signed copy of the contract which they exchange with each other. Both Conveyancers agree to the terms in the contract verbally over the phone and confirm the date of legal completion. Your Conveyancer is legally obliged to send to the sellers Conveyancer your 10% deposit at this stage, although in practice this rarely happens and is just held by your Conveyancers on a promise it will be sent with the rest of the purchase monies on completion. Your Conveyancer may call you to get your verbal authority to exchange for you on the day and afterwards you will need to make sure that your buildings insurance for your new property is in place from the date you move in. Make sure that you are absolutely sure before you exchange contracts as if you fail to ‘complete’ after you have exchanged contracts you will lose your 10% deposit.


This is the day you have been waiting for. It’s the day you get your keys. On the day of completion (or generally the day before) your Conveyancer will have received the money from your lender if you are having a mortgage and will send this money plus any other money due from you to your seller’s Conveyancers by way of a telegraphic bank transfer. This transfer can take anything from a few minutes to a few hours to reach the seller’s Conveyancers bank account. Once they have received the money then completion is deemed to have taken place and usually keys can be released to you at your estate agent, or from the seller directly, soon after. However the contract will often state that the sellers can take until 2pm to move out and arrange for a key hand over if they need more time.

The final part…

While you’re unpacking we carry on working on your file and will pay stamp duty and then apply to the Land Registry to transfer the property in your name. It might be a few weeks until you hear from us again when we send you the deeds to your new home.

Need help with your conveyancing?

If you would like a conveyancing quote, more information or to see our frequently asked questions then please visit our website or call 01623 45 11 11 and speak to one of our experienced team.

Share on Facebook

signing contracts    No Comments

As a brief introduction, I’m Matt Slade – head of the conveyancing department. I’ve blogged in other parts of the the site but this is my first on the fidler blog.

We often get asked whether it matters if you use a local solicitor or one in another part of the country. I sit both sides of this fence so will try and provide a balanced view rather than push one point of view.

Our clients do not need to come into the office for any part of sale or purchase – no exceptions.

However some clients prefer to come into office for a host of reasons eg they prefer listening to someone rather than reading a report.

If a client wants to come into the office then we’d normally only ask them to come in in relation to their purchase (we don’t normally ask clients to come in at all on a sale only) and then it would be to go through contracts and documents on the purchase. They get to meet us face to face and ask questions that may have been on their mind.

If they choose not to come in then we prepare a written report  on the property that someone is planning to buy – a lot of people prefer this because they can read it at their leisure and they’ve got it in black and white what we’ve said – sometimes after leaving our office they might not remember everything they were told. Also meeting a solicitor can be overwhelming so sometimes it is better to settle down with a cup of tea and have a good read of the documents in your home without time pressure. If you are unsure then you can talk to person who drafted the report by email/phone. Another argument in favour of the remote idea is that that time off work is for holidays and spending time with the family rather than visiting stuffy solicitors (we aren’t stuffy).

Personally I prefer to listen but my wife prefers to read so she reads the stuff out to me and we are both happy!

It boils down to the service you want to experience and  the premium you put on your time.



Share on Facebook

Powered by WordPress Entries RSS Comments RSS