Conveyancing solicitors play a very important role in the process of property dealing. Coveyancing involves transferring property title from one to another by satisfying the legal formalities. Professional conveyancers are often preferred by the parties involved to perform the job of carrying out the legalities. However, conveyancing solicitors UK must be selected carefully since their charges vary widely depending on their range of services, expertise and experience. But you can save hundreds of pounds if you know the right questions to ask a conveyancing solicitor.
Conveyancer costs are varied. It depends much of the expertise and experience of the conveyancer. The generic term conveyancer applies to both solicitors offering conveyancing services and licensed conveyancers. But, if you decide to engage solicitor conveyancing, it would cost you more.
It is important that you keep your eyes open for hidden charges or you may find the costs rising soon. In order to safeguard your interest you therefore must know what is involved in a conveyancer’s fees?
A conveyancer might charge a flat fee for his services or ask for a percentage over the property selling price. It goes without saying that a flat fee is always a better bargain and also saves you a lot of anxiety.
During the latest recession when property prices in UK hit the lowest conveyancing solicitors UK costs also took a plunge. But things are once again looking positive for the property market. So, you may also expect solicitor conveyancing charges to rise once again.
Always, get at least two or three quotes from conveyancing solicitors before deciding on one. Surveying the market would help you in saving a lot on conveyancing fees. Few factors that influence the cost of a conveyancer are:
- Duration of business
- Type of property needs handling
You are likely to get some suggestions from your estate agent but don’t jump to that. It may cost you more at the end. Rather, personally interview a few and ask them to quote a ballpark amount for the property in question. The charges that conveyancing solicitors UK include in their fees may vary. Some even include processing documents for mortgage (as is often a case with lesser known lenders they only employ their solicitors) into their conveyancing charges. This can make the conveyacing charges very expensive.
Next you must recognize the taxes applied to the solicitor’s fees. Conveyancers charges would include VAT and charges applied to searches and stamp duty. Some conveyancer may ask for disbursement charges for photocopying and postage as well as bank fees to convey the completion money. Always ask upfront for all the charges involved.