Conveyancing quotes should be straightforward and easy to understand, but many people find they are not.
Consumer organisations and industry insiders have said that one reason for this is that some less reputable conveyancing solicitors are trying to hoodwink you, so caution is advised. When a recommendation is made by estate agents or mortgage brokers, they may be receiving a commission for that referral.
One piece of advice offered by reputable sources is that, when buying or selling your house or other UK property, personal recommendation from family or friends is a good starting point, but there is another way.
Not All Conveyancing Solicitors Are As Professional As You Might Expect
Rather like some budget airlines, there are some firms who use tricks of the trade to make their conveyancing quotes look artificially low. They get away with it because conveyancing for UK property transactions has become more complicated and as property sales have slowed recently, much more competitive.
To prevent being taken for a ride by overly cheap online conveyancing quotes, arm yourself with the knowledge of what should (and should not) be included in a quotation for work carried out. One part of the quote should deal with the solicitor’s fee, which is the amount charged for legal expertise, time and experience. Surveys show this part of the quote can vary widely between conveyancing firms, with typical differences of plus or minus £500 between companies. This can be because of the way the solicitor charge for their fees in their quotes.
Very occasionally in the UK, a company will charge a fixed solicitor’s fee for conveyancing work. This can be very good for the consumer because you know exactly what to expect, but not necessarily for the solicitor, especially if problems arise with the property purchase transaction. Otherwise, it is not uncommon for a solicitor to charge a fee as a percentage of the purchase price.
Again, the consumer knows exactly what to expect, but remember that different firms charge different percentages; so look for the most competitive. Solicitor conveyancing quotes that calculate rates per hour should be avoided, as this is the most likely to lead to over-charging.
How To Recognise The Best Conveyancing Quotes
The area where additional or unnecessary fees may be concealed is the section of the quote dealing with disbursements, those items that conveyancing firms must buy in for you.
Conveyancing solicitors quotes for disbursements should be broadly the same, depending to some extent on the value of the property, since most of the services are charged as a fixed fee or on a sliding scale by government departments and other agencies. Routine fees may be included in order to make the headline quote look extremely cheap, however these should be part of the solicitor’s standard fees. These hidden extra charges may include fees for filling out a Stamp Duty return when this is a standard service.
Fees may be charged for professional indemnity insurance, which a conveyancing firm is required to have in any case, regardless of whether they handle your particular property transaction.
Charges for postage, photocopying and phone calls could be included, which should be typically included in any standard solicitor’s fee. The best conveyancing quotes will fully itemise all items transparently. Avoid those that do not, as although they might promise a low headline price, there will inevitably be hidden extra fees.
A decent conveyancing quote will not try to hide anything away. By using a reputable online quote comparison site, you will have assurances that its partners have been vetted to ensure companies using more questionable practices are excluded. One comparison website that carries out such rigorous checks is Conveyancing Index.
Conveyancing Index Offers Instant Conveyancing Quotes For Your Property Transaction
At Conveyancing Index, we aim to save you money and time by letting you compare instant conveyancing quotes from the best property solicitors in the UK.
We vet all our potential partner conveyancing solicitors to ensure they offer you excellent service at reasonable prices. Once we offer their services on our site we continuously monitor their performance to ensure they continue to offer the high levels of service and professionalism that we expect from them.
Check our excellent reviews and testimonials on trusted review websites and visit us at https://www.conveyancingindex.co.uk to see how our instant quotes for conveyancing can help you with your property transaction.