Find The Best Conveyancing Quote

July 23, 2012

Consumers are now used to having all the hard work of finding quotes done for them by comparison websites, but finding the best conveyancing quote might involve not only considering online conveyancers, but also local conveyancers which may or may not have a website offering quotes.

As well as conveyancing solicitors, buyers and vendors can choose firms of conveyancers – known as licensed conveyancers – which deal solely in property matters (whereas conveyancing solicitors may also handle other legal matters in the practice).

In the last year or so, mortgage lenders like high street banks and building societies have been encourage to set up their own conveyancing panels of member firms of conveyancing solicitors and conveyancers – a move which has been supported by the Law Society.

With the growth in online conveyancing, consumers have never before had so much choice when looking for the best conveyancing quote.

This has also meant that the cost of conveyancing has fallen in an increasingly competitive market, with some online conveyancing companies offering rates as low as £99 plus VAT for their conveyancing services.

The cheapest conveyancing quote might not turn out to be the best conveyancing quote, however – and even if your property is chain free, the cost of conveyancing can soon be pushed up by additional enquiries from the purchaser or additional searches needed.

So what should buyers and vendors look for when trying to find the best conveyancing quote?

  • With any quote, ask what services will be included in the conveyancing quote and how any extra work required will be charged and the rates (eg hourly rate)
  • Licensed conveyancers will be a member of the Council for Licensed Conveyancers so try and obtain quotes from member companies
  • Conveyancing solicitors are regulated by the Law Society and the Solicitors Regulation Authority – the Law Society has set up the Conveyancing Quality Scheme and firms displaying the CQS logo will offer a best practice service
  • As well as obtaining online conveyancing quotes, recommendation is sometimes the best way to find a conveyancing solicitor or licensed conveyancer, so ask around as well as obtaining quotes
  • The best conveyancing quote will cover all your needs – if you are buying a leasehold property, your conveyancer will have to read the lease and this will take time and cost extra, so make sure you inform them if the property is leasehold when obtaining quotes.

Conveyancing quotes cover two areas of the conveyancing process – the time spent by your conveyancer processing the documents and conducting searches, etc; plus the disbursements which need to be paid once the sale is completed.

Find the Best Conveyancing Quotes for free using our instant Conveyancing Fee Calculator.

After completion and the exchange of keys, there are still tasks which need to be carried out, such as registering the property in the new owner’s name at the Land Registry which is done by the buyer’s conveyancer – and arranging to repay any existing mortgage for the vendor and then forwarding the balance of the monies to the vendor’s account for the vendor’s solicitor.

It is a good idea to familiarise yourself with all the various stages of the conveyancing process before obtaining quotes, as this will give you a better idea of what should be included in the quote – and help you recognise the best conveyancing quote out of the various options available.

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Category: Buying or Selling, Conveyancing Guide

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