Assuming the bank make an offer, a conveyancing solicitor must be appointed - in practice, he is often appointed at the same time the borrower approaches the bank. The role of the solicitor is to transfer the ownership and secure the charge on the house for the bank, and carry out some checks for the bank. Such checks mayinclude but are not limited to, local search at the local council, in care there are any adverse plans for the area in which the property is situated, mining search in case there is danger of landslip, personal bankrupcy check to ensure you have not been declared bankrupt, examination of the lease in cases of flats or leasehold houses, examination of the management company in the case of flats, examination of the sale contract which is drawn up by the sellers solicitor etc.

After the solicitor has completed his work, the borrower meets with the solicitor and signs the contract, and pay the deposit - ie the money needed over and above the mortgage to pay for the house. Around the same time, the seller signs a copy of the same contract his solicitor. Neither party signs, until both solicitors are happy that their client is willing to do so. When both parties have signed, the contract is exchanged.

It is only at this piont that the vendor and purchaser have legal protection on the deal. If either party changes their mind after this, the other can sue. Up to this point, either can freely change their mind, without the threat of legal recompense.

After contracts have been exchanged, the buyer can now make arrangements to carry out any work the bank/surveyor stipulated as being a condition f the mortgage. The solicitor seeks release of the money from the bank, into his own account. Finally, after any necessary work that may have been required has been completed, the solicitor sends the mortgage and deposit to the sellers solicitor, and the purchase has been completed. This step is simply known as completion. The sellers solicitor calls the estate agent, who then releases the keys to the house to the buyer.