Bank telegraphic transfer fee

The solicitors charge for the transfer of money electronically between bank accounts.

Charge on the property

This is typically a mortgage or any other loan which has been secured on your property


The day on which the legal ownership of the property changes hands. The seller moves out and the buyer moves in.


This is the agreement between the Buyer and the Seller which sets out the terms of what has been agreed for the sale of the property , such as a full description of the property being sold – sometimes by reference to a plan, the price agreed, the full names of the parties to the contract and details of anything included in the sale.


This is the way solicitors describe the process of transferring the legal title to land and property from one person’s name to another.

Deed of Postponement / Grant / Variation

A deed of postponement is a document in which one party agrees to postpone their rights to those of another, usually in relation to the order of mortgages on a property. A deed of grant gives rather than postpones specific rights to the owner of a property (such as rights of way), and a deed of variation varies the terms of an existing document affecting the title of land, usually relating to leasehold properties.

Deed of Rectification

This document usually corrects an error in an existing document affecting the title to land.


The deposit is the sum of money paid on exchange of contracts by the Buyer to the Seller. The sum suggested by the Law Society at this stage of the transaction is 10% of the purchase price. If however, the Buyer is borrowing 95% of the purchase price then only 5% would be payable.

Exchange of contracts

This is the time when both the Buyer and the Seller have signed their contracts, a completion date has been agreed, and any deposit has been paid by the Buyer to the Buyer’s solicitor. The Buyer’s solicitor will speak to the Seller’s solicitor on the telephone and agree that exchange has taken place. Once this is done the contract will be dated, the completion date inserted and both the Buyer and the Seller will be bound by law to the contract and the facts referred to in the contract.

Fixtures, Fittings & Contents

This is a list of items at the property which are being removed by the Seller or which remain as part of the sale. This ensures that there are no disputes between the Buyer and Seller as to what is to be left in the property on the day of completion.

Land Registry

This is a government authority which registers the transfer of all property in England, Wales and Northern Ireland. Every transfer must be forwarded to the Land Registry after completion. Once the registration has been completed the Land Registry will issue a title information document being a paper copy of the entries at the Land Registry which are officially kept electronically.

Local Authority Search

This is a list of questions which the Buyer’s sols will send to the Local Authority where the purchase property is situated. It covers such matters, as whether the road is adopted, what planning and building regulation consents exist, whether there are any orders or regulations which affect the purchase property. This could help identify if a road is about to be built near the property. You will always be informed of any items revealed in the search which may affect the future value of your purchase property.

Mutual Deed of Covenant for flying Freehold

A document which sets out the terms for repair and maintenance of a property which overhangs, or is overhung by an adjacent property.

Power of Attorney

This is a deed which enables another person (the Attorney) to sign documents and do things on your behalf, and in your name. This is often necessary if a buyer or seller will be abroad during the conveyancing transaction.

Property Information Form

This is a questionnaire completed by the Sellers of the property to provide the Buyer with such information as to whether there have been any disputes with neighbours, whether there are any guarantees or warranties on the property and whether the current owners have made any alterations to the property during their ownership and if so what consents were necessary and whether they were obtained.

Redemption of mortgage

If there is a charge on your property this will have to be paid off on completion.

Stamp Duty Land Tax

This is an amount of money which is a tax paid to the government when there is a transfer of property. This is calculated as a percentage of the value of the property you intend to buy.

Title Deeds

These documents were the old fashioned evidence that the person selling the property owned it and set out any rights or obligations which have to be complied with. To a large extent title deeds have been replaced by the electronic information held be the Land Registry. Title deeds may still be important if the property is not registered at the Land Registry, or if the electronic Land Registry information refers to other old deeds which have not previously been seen by the Land Registry. If you have any old title deeds you should look after them as they may be useful when you sell your property.


This is the document which actually transfers the legal title from the name of the Seller to the name of the Buyer. This is the final document and is also the document forwarded to the Land Registry to register the new ownership on their records.

Transfer of Equity / Deed of Gift

A transfer of equity is the transfer of one owners share of the property to the remaining owner subject to an existing mortgage. A deed of gift is where no payment is made.

Voluntary First Registration for a sale property

An application by the current owner of an unregistered property for registration at H.M. Land Registry, usually required when the original deeds to a property have been lost or destroyed.

Glossary of Conveyancing Terms