LEGAL
Buying your first home is exciting, but it can also feel overwhelming – especially when legal terms like“conveyancing”start appearing in the process. If you’re considering Shared Ownership, that comes with its own nuances, so having a general understanding of conveyancing is important. Bevin Woby, Director at Shared Direction Conveyancing, explains what it means and why it matters Conveyancing Explained for First Time Buyers , explains what it means and why it matters
WHAT IS CONVEYANCING?
Conveyancing is the legal process of transferring property ownership from the seller to the buyer. In the UK, this involves several key steps to ensure the transaction is valid, your rights are protected, and any risks are identified before you commit. A qualified solicitor, licensed conveyancer or legal executive generally with admin support will handle this process on your behalf. Their role includes: Checking the property title documents and plans Conducting searches with local authorities to uncover any issues such as planning restrictions, flood risks or disputes Reviewing the contract, lease and negotiating terms Managing funds – including sourcing your deposit and obtaining the mortgage money. Registering ownership with HM Land Registry once the purchase completes.
Exchange of Contracts: Once all checks are complete and your mortgage offer is approved, contracts are exchanged. At this point, the agreement becomes legally binding. Completion: Funds are transferred, and you officially become the owner of your share.Your conveyancer registers your interest with HM Land Registry. Conveyancing is the backbone of a secure property purchase. For buyers, it ensures you know exactly what you’re committing to – protecting your investment and giving you peace of mind as you step on to the property ladder. Shared Direction Conveyancing is the only law firm in the UK dedicated solely to acting for purchasers of new build and Shared Ownership properties. If you are buying a new build or Shared Ownership property, Shared Direction Conveyancing is your ideal choice of law firm to share your journey into homeownership, as we have the experience and expertise to guide you through the process as quickly and simply as possible.
Later, you can increase your share through a process called staircasing.
While Shared Ownership aims to reduce upfront costs, it can add complexity to conveyancing because: Leasehold structure: Most Shared Ownership homes are leasehold, meaning you own the property for a fixed term (often 125+ years) rather than outright. Housing association involvement: The association must approve the reservation based on affordability and may impose conditions, such as restrictions on subletting or resale. Additional costs: There may be future fees for staircasing, rent reviews and service charges. Your solicitor will confirm all these obligations before you sign.
WHY IS CONVEYANCING SO IMPORTANT?
Property transactions involve significant sums and legal obligations. Without proper conveyancing, you could face unexpected costs, legal disputes, or even lose your home. Your conveyancer ensures everything is compliant and that you understand what you’re buying.
CONVEYANCING AND SHARED OWNERSHIP
THE PROCESS IN BRIEF
Shared Ownership is a tenure designed to make homeownership more affordable. You buy a share (usually 25% to 75%, though in the latest form of lease shares can start from as little as 10%) of a property and pay rent on the remaining share to a housing association.
Instruction: You appoint a conveyancer and provide details of your mortgage and deposit. Legal Checks: Your conveyancer reviews the contract and lease, conducts searches and raises enquiries with the housing association’s solicitors.
For further information visit sdc-legal.co.uk or for an instant quotation call 0808 273 0273
112 First Time Buyer August/September 2025
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