In June this year the Solicitors Regulation Authority announced that from December 2018 all firms will have to publish their prices and service information, including residential Conveyancing, on their websites. This is so that clients can understand the services available and the prices. The information must include the total cost or an average range of costs and the basis of the charges as well as the experience and qualifications of those carrying out the work and their supervisors.
You should always consider quality as well as cost as a good Conveyancer will be able to help you through the stressful experience of selling and buying. If you prefer to have face to face meetings with your Conveyancer then chose a firm local to you otherwise you can look at online firms.
To get the best Conveyancing fees, find a Conveyancing service that offers a No Sale No Fee guarantee, charges a fixed cost rather than an hourly fee, and ensures there are no hidden 'extras'. At Co-op Legal Services our Conveyancing partners meet this criteria.
Choosing a Conveyancer
Buying or sellinga property is expensive. If you are buying, not only do you have to find the money to put down a deposit, there's also a raft of other costs involved, such as Stamp Duty Land Tax, searches including Local Authority searches, Land Registry fees and of course, Conveyancing fees.
Many of the costs involved in buying or selling a property are fixed. But the one area where there is some room for negotiation is the Conveyancing fees. Different Conveyancing services charge different fees, so it's best to shop around and compare like-for-like Conveyancing quotes.
It's important to do this, because you might be pressured into using the Conveyancer recommended by your estate agent or mortgage lender. However, you do not have to go with their suggestion, and it's entirely up to you who to choose.
Tips for Getting the Best Conveyancing Fees
With so many Conveyancing providers to choose from, you might find the decision overwhelming. So when searching for a Conveyancer, what should you be looking for to ensure you get the best Conveyancing fees? Here are four top tips:
No Sale, No Fee Guarantee
Some Conveyancers will offer a No Sale No Fee guarantee. This means that you will not be charged for the legal fees, should the sale fall through.
The Conveyancing process involves a number of other costs – known as disbursements. If these have already been incurred then you willhave to cover the cost. For instance, if you are buying you will have paid your Conveyancer upfront for the search fees and if the Local Search has been carried out and the purchase falls through you will lose that fee.
However, you will not be responsible for paying your legal fees, so the work done by your Conveyancer up to that point will effectively be free. This will be a huge relief if your sale falls through because of reasons that are outside of your control. For example, if the chain breaks down.
Fixed Cost Conveyancing
Different Conveyancers charge in different ways. Some will charge an hourly rate, some will charge a percentage of the property's value, and some will charge a fixed fee. Having a fixed or 'flat' fee will ensure you know exactly what the cost will be from the outset. This will allow you to budget accordingly.
No Hidden Rates
It's important to fully understand what's included in your Conveyancing quote so that you don't get any nasty surprises later on. For instance, some Conveyancers who offer a fixed cost will charge an extra fee every time they write a letter to you. Make certain that you do not get stung with any hidden extra fees by doing your research first. If there is a lack of clarity or if you are unsure of anything at all when you receive your quote, then don't be afraid to ask questions.
At Co-op Legal Services we break down complex legal processes, such as Conveyancing, into straight forward, accessible language and we avoid using legal jargon so that you always know exactly where you stand.
Lastly, choose a specialist Conveyancer or Solicitor. All lawyers have their own area of expertise – so while you may have had an excellent Solicitor draw up your Will, he or she will not be best placed to carry out the Conveyancing process on your behalf.
Instead, instruct an experienced Conveyancer who you can have confidence in. This may actually turn out to save you money in the long-run, as it will minimise the risk of any mistakes being made and will speed the process up (so far as is possible with a Conveyancing transaction, which can be difficult to control, particularly if you are in a chain).
Our Conveyancing Fees
With Co-op Legal Services, you will be provided with a written quote for the work to be carried out. This will include a detailed breakdown of the fees and costs involved.
The quote you are provided with is the fixed Conveyancing fee you will pay. There are no hourly fees or hidden rates. All Conveyancing quotes include a No Sale No Fee guarantee. We can provide some of the lowest Conveyancing fees available across the UK and we invite you to compare our rates.