Why Compare Conveyancing Services And Compare Conveyancing Solicitors?

Posted by admin on May 14, 2012 under Conveyancing Advice | Comments are off for this article

The conveyancing market has become extremely competitive, despite the uncertainties surrounding the property market and the economy – and there are now many websites offering the opportunity to compare conveyancing services or compare conveyancing solicitors.

Online quotes for conveyancing services for homebuyers can be as little as £99 plus VAT, but because of the incidence of mortgage and conveyancing fraud, it is important to compare conveyancing solicitors – and also to compare conveyancing services offered in quotes.

Compare Conveyancing Services

Property vendors and purchasers now have more choice in the type of conveyancer they instruct to process the paperwork involved in a property sale.

When you compare conveyancing services, look for companies which are members of the Conveyancing Quality Scheme (CQS), which has been established by the Law Society.

The Law Society has worked with mortgage lenders to introduce conveyancing panels which consist of accredited firms approved by individual mortgage lenders such as HSBC or Santander.

HSBC’s conveyancing panel is managed by Nationwide but only 43 firms are approved as HSBC conveyancing firms – which means many reliable and efficient conveyancing firms may not be members of any conveyancing panel.

It is possible that a mortgage lender will insist on a buyer using one of their own conveyancing panel members – or if a purchaser chooses not to, they may end up having to pay two sets of conveyancing fees, including their own and that of their mortgage lender.

Purchasers and vendors with a choice should always compare conveyancing services from different sources, including:

• Conveyancing solicitors
• Conveyancing firms such as surveyors
• Online conveyancing services
• Comparison websites offering conveyancing services.

When you compare conveyancing services, request quotes which will cover all the costs involved if possible, including professional fees, bank transfer fees, disbursements (eg searches) and any extras like costs for processing a leasehold sale – leasehold sales cost more because of copying, reading and any queries to do with the lease.

Extras like postage, phone calls, filling in forms – and even a contribution to your conveyancing firm’s professional indemnity insurance – may also be added on

Make sure when you compare conveyancing services that you ask about any extra costs and what the firm charges for these – including an estimate of Stamp Duty and Land Registry fees based on the value of the property, which will have to be paid at completion.

Compare conveyancing solicitors

Most conveyancing quotes are obtained online even if vendors and purchasers use the local conveyancing solicitor.

The Law Society and mortgage lenders are working to crack down on mortgage and conveyancing fraud – and when vendors or purchasers compare conveyancing solicitors, it is advisable to try and find a competitive quote from a firm which is a member of the Law Society’s Conveyancing Quality Scheme (CQS).

Using online conveyancing solicitors can be cheaper and make conveyancing much faster, so compare conveyancing solicitors offering this service, as well as specialist online conveyancing firms and quotes from comparison websites.

Some conveyancers offer a set fee for conveyancing rather than an hourly rate for professional fees – and this can save on the total cost.

For vendors, a conveyancing solicitor’s fees are usually estimated according to the value of the property, so compare conveyancing solicitors who can not only offer an efficient service, but also a fee level which is reasonable – or even a fixed rate for the job, which is not so common, but it is always worth asking if this would be possible.

If you are offered a conditional fee arrangement – often advertised as “No sale, no fee” or “No move, No fee” – make sure you know how the final costs will be calculated, as well as any disbursements.

No move no fee conveyancing solicitors

Posted by admin on April 12, 2012 under Conveyancing Advice | Comments are off for this article

There are a number of obstacles faced by those who are looking to buy or sell a house and one of the biggest of these is the cost. House sales and purchases can be costly – particularly when it comes to the additional costs involved in the process, few of which can be avoided if the transaction is to go through smoothly. For many people, one of the most important costs can be that of the conveyancing solicitors. Although this kind of advisor is clearly essentially in ensuring that a house sale or purchase is properly processed, fees can mount up considerably – especially if there are any issues that arise – adding significantly to the basic cost of buying or selling the property. As a result of the cost concerns of those looking to buy or sell property, and in order to offer a more cost effective solution, the ‘no move no fee’ conveyancing solicitors have become extremely popular.

 

The way no move no fee conveyancing solicitors work is that a package of conveyancing services is made available to the potential client, who will pay a small amount as a deposit of sorts. The fee is usually payable per transaction so for each sale or purchase a client undertakes, the fee will be payable. This fee could be as low as £50. Once the transaction gets under way, the no move no fee conveyancing solicitors will go ahead as a ‘normal’ conveyancing solicitor would, processing searches, negotiating with the other side, drawing up documents etc. The only difference is that if the transaction does not go through, the seller or purchaser will not be charged any solicitors fees. Any ‘disbursements’ that have been run up in processing the matter – i.e. any expenses that the solicitors have incurred, such as paying for searches – will need to be settled by the client, but this should usually be the only money that is due if the transaction does not complete. The costly question of paying for the conveyancing solicitor’s time is put to one side as the no move no fee option means that these fees cannot now be charged.