Whether you are buying or selling property in the UK, it’s important that you hire a professional to help you process your sale or purchase. There are a number of different options out there but which one is right for you? The most obvious choice is a conveyancer. However, are they really cheaper than solicitors?
Many conveyancing firms employ tricks to make their quotes look cheaper than they actually are. For example, they may take tasks that should be covered by their basic fee (such as searches) and add a hefty price tag to them. This creates extra profit for the company and can turn what initially looks like a cheap conveyancing quote into something far more expensive.
These costs are often hidden away in small print and can include things such as HM Land Registry fees, Land Charges searches or drainage and water search fees. These are all additional charges that should be included in your basic conveyancing fee. However, some companies will add these on as potential disbursements or even separate supplement fees. This is a common trick to get you in the door and then rip you off by making your transaction more complex.
There are a few ways that you can reduce the cost of your conveyancing. First, you can try and negotiate the conveyancer’s overall fee. This can be done by offering to complete certain jobs or tasks for them that would usually be their responsibility. This can be done through a simple phone call or email and can often result in significant savings.
The other option is to choose a reputable conveyancing firm that offers fixed pricing for their work. This is an excellent way to ensure that you’re not being ripped off by any hidden fees or costs. The best part is that most reputable conveyancing firms will provide you with a transparent and itemised quotation that clearly shows what their service entails.
Solicitors tend to offer a more comprehensive range of services that can be helpful for a wide variety of issues. They are also able to provide legal advice on topics that are beyond property law and can refer you to other specialist lawyers. This makes them a better option for more complex property purchases or sales that might have legal issues attached to them.
Having said that, a paralegal is not necessarily less qualified to deal with a property sale/purchase than a solicitor and they can often provide the same service for a much lower cost. However, it is always worth getting a full-fledged solicitor to handle any legal aspects of the sale/purchase that might arise.
So, to answer the question of are conveyancers cheaper than solicitors, yes – but you should always check the full costs before hiring someone. The most important thing is to find a professional that you trust and who has a good reputation in your area. You’ll be able to do this by using our Find A Professional Page which will instantly provide you with initial estimates from a number of suppliers in your local area.