If a friend was to lend you £50 you would pay them back but if a friend lent you £500,000 then it would be better if it were secured. Conveyancing is just that, the securing of a legal interest. Whether you are buying a property, selling or leasing a shop a conveyancer will help you to secure your legal interest.
Property Expert Series: Pamela O'Brien from Redbird Conveyancing
- Part 1: Introducing Pam O'Brien from Redbird Conveyancing
- Part 2: What is Conveyancing?
- Part 3: The Difference Between a First and Second Charge
A Quick Introduction to Conveyancing
Amy: What is conveyancing?
Pam: Conveyancing is simply securing a legal interest in the property.
You can do that in lots of ways. You could be selling a property. You could be buying it. You could be leasing a shop.
There are lots of ways you can do it but all you are doing is securing a legal interest.
It's a very narrow thing that you are doing, just a legal interest.
So, if your friend decides to loan you £50, you don't really need to secure that legal interest, you are going to pay him back.
But if your friend loans you £500,000, you might want to secure that.
So, you put a first-charge on the property. It's just securing a legal interest.
Amy: Okay, perfect.
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