5 Conveyancing Myths You Shouldn’t Believe

Throughout life you may have been taught a lot of things you shouldn’t even believe. Not just in life in general, but even in a rather competitive market like property buying and conveyancing, impressions were left upon you that proved to be plain myths.

For first time home buyers, conveyancing has left an impression in the past that are quite untrue. But having listened to horror stories of one has gone through whilst going through the conveyancing process, you couldn’t help yourself but be vary cautious, sometimes discouraged, about buying your own home.

For others, conveyancing can be a menace – seriously doubting if such process can be carried out without stress at all. Truth is, regardless if it’s complicated or not, conveyancing can be rather convenient and beneficial if done correctly and with an expert working with you on it.

If there were things about conveyancing that you believed to be true in the past, holding off your plans of buying a property, here are 5 of the most popular ones that we urge you not to believe at all.

  1. Grab the cheapest conveyancing deal and you’ll save a lot of money. Not true at all. What goes out of your pocket essentially defines the quality of products and services you’ll get. Sure you don’t want something ultra expensive, but you can’t just settle for less just because. Dirt-cheap conveyancing prices are very often questionable and too good to be true. When checking out deals from conveyancing firms, be on the lookout for what could be hidden from you. Check the print thoroughly and see the breakdown of charges. Don’t give in to a £50-deal on basic fees and get shocked in the end that even photocopies of the paperwork are charged on you.

2. Conveyancers arrange property valuations and building surveys all the time. This happens but not all the time. It all depends on your agreement with the conveyancing firm/solicitor. They may often assist in that but it’s generally not part of the obligations. Surveys and home valuations are typically done following an offer to the seller. In most cases your lender would need a conveyancer to carry out some checks with regard to the property’s value, though. This is why it’s always handy to find a conveyancing solicitor ahead of time and ask what sort of assistance they can provide throughout the process.

3. Conveyancing can drag on forever. No entirely true. It may take long and be complicated at times, especially when situations surrounding the transaction and the property are quite complex, but it shouldn’t take forever – not when an efficient conveyancing firm/solicitor is working on your case. And with the kind of technology that we have these days, fund transfers and handover of documents shouldn’t take weeks. More importantly, if you have instructed a brilliant conveyancer, you’ll be kept in the loop of things and your expectations, timeline wise, will be properly managed.

Barring complex issues, conveyancing should take roughly 8 or 12 weeks till you can collect the keys and move in to your newly bought home. It’s not a definite timeline set by the market, but should happen (or maybe get even quicker) if you have all the documents in place and the tasks are carried out properly.

4. You will never be able to get a hold of your conveyancer anymore. Not true. Whether you’re instructing a local solicitor or an online conveyancing firm, a dedicated expert should be readily available to speak with you. If your conveyancer’s not around, a case manager should be able to discuss your case and provide you updates – and that’s on top of the communication you get via emails and/or SMS. There is no way that your conveyancer should be missing in action. Whilst technology takes over most of the processes, someone’s human touch is (and should always be) present at all times, keeping you in the loop of things.

And even back in the days when things are done without the help of the internet, a local solicitor out on the field or in a client call would generally have someone to assist you and talk to you about your case.

What’s even more convenient these days is that, some online conveyancing firms would also have the facility to let you login to their site and check your case’s progress.

5. There are no more local conveyancers around. No, this can’t happen. Even with conveyancing taking on the internet to make it quick and more convenient, for some, nothing beats the touch of a local solicitor who’s well versed in the ins and outs of the area. True enough, most local conveyancers are more familiar with local regulations in the area where the property is situated. The thing is the choice is always yours here. You can choose a local solicitor if you prefer bringing in documents and talking to them personally.

When choosing online conveyancers though, you need to be on the lookout for the services they offer and the cost they will charge you for. And it’s not just that, always find time to check what people has to say about them and their services. Visit online discussion boards and listen the the people’s feedback.

More importantly, if you’re on a budget, have something to compare. Check out a few conveyancing quotes from various firms and solicitors so you can have a proper reference when working your budget out.

Need help with conveyancing? Check out prices from different conveyancers by clicking on the image below.

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Conveyancing – Can You Do It Yourself?

A lot of property buyers and sellers often ask if they are in any form of obligation to instruct a conveyancing solicitor to oversee the legal transfer of the property’s ownership from one party to another.

The answer actually depends on a number of circumstances. Whilst there are not written regulations on DIY conveyancing, you run a few risks of getting overhead expenses (and possible legal hassle) if you do it without proper guidance.

Moreover, here’s a quick overview of how DIY conveyancing can either be beneficial or detrimental to your property sale or purchase.

When DIY Conveyancing is NOT Possible

Buying Through a Mortgage

When buying a property using a home loan, your lender will require proper representation – having the same conveyancing solicitor acting for you and them. If you inform your lender that you do not wish for a conveyancer to represent you, they will instruct one of their own, but at your expense.

Selling With an Outstanding Mortgage on the Property

If you’re selling your property but its mortgage has not been fully repaid yet, you may not be able to have the forms needed to remove the lender’s charge at HM Land Registry and hand the completion over. This is because the lender will not issue the discharge documents until after the redemption funds have been received. In this case, the buyers conveyancing solicitor will have to depend on your conveyancer to repay the mortgage and provide the discharge documents.

If you wish to carry on though, you may ask the buyer’s conveyancer to directly redeem the mortgage or instruct your own solicitor to deal with the redemption.

When DIY Conveyancing is NOT Recommended

It’s an obvious fact that any property transaction can be quite complex, but in general leasehold, commonhold, new build and unregistered purchases are the trickiest. Sellers conveyancers may not find it quite hard though, as the responsibility of carrying out the tough tasks are with the buyer’s conveyancing solicitor.

Whilst it’s not impossible for you, as a buyer, to oversee such tasks, we DO NOT recommend it. Even the experienced solicitors find it quite difficult to make sure everything is in place, especially with complex leasehold arrangements. Some of them even have inadequate knowledge of commonhold properties, and have little dealings with unregistered ones.

If you’re in for buying any of these types of properties, we advise against DIY conveyancing. Give it a lot of thought before you tackle this kind of transaction, especially if you’re looking to move in on an estimated date and time of the year.

diy-conveyancing

When Can You Do DIY Conveyancing?

DIY conveyancing renders itself best if you’re looking at properties without outstanding mortgage, or if you’re buying without having to take out one. Deeds of gift (or transfers for no money) and transfers of equity without mortgage involved are also plausible types where DIY conveyancing maybe applicable.

If you’re doing your own conveyancing on these types of property transfers (purchases), you still have to be fully guided before tackling it.

How Does DIY Conveyancing Help You?

Because the national conveyancing protocols have made changes to the process, conveyancing has become more straightforward, even if you decide to do it on your own. It can even save you money if done properly.

A conveyancing solicitor, with the relatively convenient process and comprehensive regulations, can actually now handle hundreds of cases from buyers and sellers, without as much stress as before. With technology as their number one assistant, they are able to carry out conveyancing tasks quite efficiently.

Given that you will work on it on your own, you will find that the Internet, and other communication channels will be utterly helpful as you carry out the tasks that generally only licensed conveyancing solicitors did in the past. Also, you may find it that you’re much more in control of the transaction if you’re doing the conveyancing by yourself.

The Risks of DIY Conveyancing

Mistakes made during the process can be quite trivial, such as carrying out an unnecessary or wrong search, hence having to pay twice for a search. Some can also be a bit serious like misinterpreting a search result, or buying a non-salable property. It can also be as huge as realising you cannot in any way register the property after everything is completed.

When doing a DIY conveyancing as a seller, you need to be able to fully understand your legal obligations to avoid any troubles with the buyer. It can also help you prevent being tricked by the buyer into parting with money or ludicrously reducing the price.

Basically, you need to know two things why you generally need to instruct a conveyancer when buying or selling a property.

One, conveyancing solicitors are more well-versed and experienced in property transactions to deal with the process. They are less likely to make mistakes that run the risk of causing you more overhead expenses.

And two, if any mistakes are made causing a lot of loss, your conveyancing solicitor will be liable for that – having their insurance cover for such.

Need help with conveyancing? Check out prices from different conveyancers by clicking on the image below.

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8 Ways to Find Out if Your Conveyancer is Good Enough

The UK conveyancing market has been known for the longest time to be an absolute drag. On top of that, property buyers and sellers have had their share of complaints of the service being too complex and expensive.

Having said that, finding a conveyancer that ensures a seamless, hassle-free, and cost-efficient service can be challenging. But not until the online conveyancing services have become more competitive. These days, you’ll find out worth your time carefully choosing a good conveyancer.

good-conveyancer

To be quite sure of your choice, you should know that a good conveyancing solicitor should be able to do the following for you:

  • Reasonably speed up the process for you.
  • Reduce the risks of the transaction falling through.
  • Ensure a seamless and stress-free conveyancing process as possible.

What’s even better is that we have collected 8 of the best tips to help you through in finding out if you are actually looking at a really good conveyancer to help you with buying or selling a property.

  1. Conveyancing should be their specialisation. Whilst there is no written rule that solicitors should only work on one field in their practice, it is always best that you choose someone well-versed in the field. Their experience in conveyancing should speak for the kind of service you’ll get. You can choose a lawyer who works on all kinds of cases, but you can never be sure of how long the process can drag on in their hands as they need to switch their own minds on to something else every now and then. Solicitors specialising in other legal fields may not be the best conveyancer for you.
  2. You should be informed of who should look after your transaction. When hiring a sizable firm, you should be given a direct line to the conveyancer in charge of your case. More so,there should be a dedicated team of admin and paralegal to get things sorted for you – before the licensed conveyancer verifies everything.
  3. They should at least have a fairly advanced way of communicating with you. More so, there should be an online case tracking system for you to check the status of your case. With the kind of technology that we have these days, it is not uncommon for conveyancers to be able to give you updates via email, SMS, etc.
  4. Conveyancers should at least be able to offer you a no-move-no-fee service. This kind of offer maybe bit vague, as a conveyancer may already have paid for some disbursements whilst working on your case. In this instance, and if the transaction falls through right in the middle of everything, a good conveyancer should at lease waive the basic fees for you.
  5. A good conveyancer offers a fixed fee for their services. Yes, that’s how competitive the conveyancing market has become these days. No more hourly charges for conveyancing – not even percentages of how much the property was bought or sold for! With a fixed amount that you are quoted for their basic fees, you should be able to set your budget properly.
  6. They should be approved by mortgage panels. This one’s a bit crucial especially when you’re buying through a home loan. Your lender will have your conveyancer do some work for them to check on a few legal matters. Hence, if you chose someone not on their approved panel, they will assign someone to work on it at your expense.
  7. A good conveyancer can work beyond the 9-5 working hours. It’s not quite crucial, but it can make things more convenient if you need to instruct them quite quickly during after-hours. It doesn’t necessarily have to be close to midnight, but at least, a good conveyancer can ideally be available to talk and receive instructions a couple of hours after 5 or most of the weekend.
  8. A “Client Care Letter” must be provided to you upfront. As soon as you decide on instructing a conveyancer, they should be able to provide you this, letting you know of the cost breakdown and description of their services. If they’re not in place, you have every reason to be in doubt. And always remember that you will only be committed to their service after you signed and returned the letter to them.

If you’re looking to check out conveyancing prices from different firms, you might as well want to check out our quotes by clicking on the image below.

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Why a Local Conveyancing Solicitor May Come In Handy

Modern technology and the surge in the number of home buyers have made conveyancing a very competitive market these days. Admittedly, a lot of firms have established “conveyancing factories” to meet the increasing demand for conveyancing services – some of them even establishing call centre support business models.

If you’re one among the lot of home buyers who are looking to get conveyancing done in a few standardised steps, you may want to read through and find out why you may still benefit a lot from instructing a local conveyancing solicitor.

Contrary to the bad impression that local solicitor’s offices left – stuffy old offices, dusty furniture, and a middle-aged solicitor hidden in a stack of paperwork – a lot of local conveyancing solicitors are actually modern, IT savvy and reasonably cheap. They even charge competitive fees to their online counterparts.

When it comes to local knowledge, local conveyancing solicitors have a lot to offer. Whilst it may not be as often essential, they can still reduce the time you have to spend on irrelevant enquiries, and trying to find out problems against non-problems. For instance, conveyancers in London can actually be more adept in finding out the quirks and peculiarities of the area, particularly in leasehold transactions, compared to an online conveyancing firm in Birmingham.

In terms of dealing with small problems such as title issues, legal easements, access rights, and other works that may keep someone from carrying on with the transaction, a local solicitor is very likely to know which of these to look out for. They can also throw in more time and effort to have a look at your case and find out any issues that they can deal with to complete the deal.

And whilst not so many online conveyancers would answer too many of your questions, a location conveyancer employs someone willing to keep you in the loop of things. They can address your queries, and significantly help you get some problems sorted when they occur along the way.

There’s not much to explain about proximity – except that it comes in very handy when you need to sign or bring in relevant paperwork. You can easily pop into their offices and save a few days off the process.

And whilst there are really no guarantee to the kind of service that conveyancers offer – local or online – you should know better to find out if the prices they charge are equally reasonable to the online services you’re contemplating on. Always remember that time, patience, and money are crucial to purchasing or selling properties; and that you should take the opportunity to grab any measure to save all three.

If you’re looking to check out conveyancing prices from different firms, you might as well want to check out our quotes by clicking on the image below.

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An In-Depth Look at Conveyancing Searches

A lot of home buyers, especially first-timers, are often baffled by conveyancing searches. They have often been that mysterious topic that you may also be in doubt of in terms of doing.

As it is, searches are a crucial part of the conveyancing process. They are basically enquiries made to various agencies and organisations to find out more about the property you intend to buy. These agencies include Local Authorities, the Environmental Agency, Mining and Water Authorities.

The Importance of Conveyancing Searches

If you’re buying in cash, you may choose not to have conveyancing searches done, but it’s not strongly encouraged.

Why? Because the information contained in the results of these conveyancing searches are significant to your living condition and the property itself.

If you’re buying the property with a mortgage, you are obligated to your lender to have these conveyancing searches done.

Some lenders may take an Indemnity Insurance, though, in lieu of searches. However, this has become less favourable as it only covers any value lost to the property or expenses that come out of something that could have been identified if a search was done. Indemnity Insurance policies do not generally prevent any action being taken and do not compensate anyone for the inconvenience.

What Conveyancing Searches Do You Need?

According to the Council for Mortgage Lenders, “all conveyancing searches a prudent solicitor would carry out” are required every time you’re buying a property. This then means that the searches needed vary on the location of the property. And whilst most searches are optional, it may still be best to have them done.

When your conveyancer starts working on these conveyancing searches, you can require or expect, at the very least, a satisfactory result from the Local Authority, a Drainage & Water search, an Environmental search and a Land Registry Priority search before completion.

What Do Conveyancing Searches Identify?

Have a look at the table below to have an idea what these conveyancing searches reveal and how much they cost on the average.

conveyancing searches

In addition, there are other optional conveyancing searches that your conveyancer needs to carry out:

Common Land Search (Commons Registration) – This search is usually made on land that has never been built on or which at one time may have belonged to a Lord of the Manor, a town or Village Green.

Chancel Repair Liability Search – This is carried out when the property is in a Church of England parish; and identifies your obligation to contribute to its repair and maintenance.

The Search Results

If the conveyancing searches reveal issues that could affect the property or your living condition when you move in and in the future, you may choose to negotiate the price wit h the seller. Alternatively, you may also arrange for an indemnity insurance to cover any issues if they occur. Your conveyancer is required under the law to obtain clear searches on your lender’s behalf, too.

Remember that if you or the seller backs out of the transaction after the conveyancing searches are carried out, the amount that your conveyancer covered on your behalf whilst in process will have to be settled. If you paid for them upfront, refunds may not be possible.

At times like this, you may also check out Search Protection Insurance policies to cover your expenses up to £300 if the transaction falls through under these circumstances that are not directly your fault.

The Cost of Moving Homes – From Mortgage to Conveyancing

Are you thinking about moving homes? If you are, you should remember that it’s crucial you consider how much it roughly costs and what you should allocate your budget for.

This comprehensive guide will uncover and take you through the things you need to know about moving home expenses.

When budgeting, it’s important that you have an allocation for extra costs on top of the price of the property itself.

When budgeting, it’s important that you have an allocation for extra costs on top of the price of the property itself.

Moving Homes as a Buyer

Here’s an estimate of how much you may need to set aside for extra costs when buying a house – including but not limited to mortgage, surveys, and conveyancing fees.

Mortgage Costs

When taking out a mortgage, you’ll realise that they come with charges for setting it up, including arrangement fees. However, if you shop around, you may be able to strike good deals without these fees. The only catch is that they may be offering quite a higher interest rate on the loan.

If you haven’t got enough money to pay mortgage fees upfront, you may also arrange for it to me added to the loan – interest also added on top of it.

As soon as you have agreed on an offer with the seller, the mortgage lender will need to carry out a valuation to determine that the property’s value is at par with how much you intend to pay for it. They’ll generally arrange this one for you, but you’ll have to cover the cost – ranging from £200 to £600.

When it comes to lending charges, it is worth noting that if you’re putting down 25% or below for deposit, you may find yourself charged a higher amount.

Check the table below to have an idea how much you may have to pay based on how much the property is being sold to you.

Mortgage Estimated Costs

Surveys

Whilst you’ve already had the valuation covered, it is still best that you get your own survey of the property done – especially if you’re buying a previously owned home. This is to check if there are any problems with its condition.

Home Buyer’s Reports – This covers the general condition of the property which could cost you from £350 to £1,000.

Structural Surveys – This is a more in-depth inspection of the property – generally checking out everything about how the house was built and what needs repair and maintenance. The price of a structural survey varies between £500 and £1,300.

Have a look at the table below for the estimated survey costs you may need to prepare a budget for.

Survey Estimated Costs

Conveyancing Fees

As soon as you’ve got your mortgage application and property survey in place, and you have made a solid agreement with the seller, yo’ll have to instruct a conveyancing solicitor to carry out the legal tasks of transferring the property ownership to your name.

Note that conveyancers at present would generally charge a fixed amount for their services – on top of the costs they will cover for you whilst the transaction is in progress.

Depending on how complex your transaction is, you’re looking at basic fees ranging from £400 and £850.

In terms of registering the property in your name at the Land Registry, you can expect the costs from £90 to £140, depending on how much the property was sold for.

Money transfers between mortgage lenders, conveyancing solicitors, you and the seller, and for searches also come with a price.

More so, if you’re buying a leasehold property, you’ll have to prepare for extra costs as they involve a couple more of other people to deal with. This costs about £140 on the average.

Have a look at this table for your reference on conveyancing costs.

Conveyancing Estimated Costs

However, if you’d like a more comprehensive reference to how much you may need to prepare for to get conveyancing done, feel free to request for a quote by clicking the image below.

Stamp Duty Land Tax

Of course, buying a property does not stop at completing the conveyancing process.

When you think everything is settled, remind yourself to pay your dues at Her Majesty’s Revenue and Customs office. The amount of Stamp Duty Land Tax you’re about to pay will depend on the price range of the property.

Note that this is generally your obligation and may not be covered by your conveyancing solicitor as part of the disbursements.

Here’s a graphic guide of the Stamp Duty rates to help you.

Stamp Duty Rates

Selling a Property – How Conveyancing Solicitors Can Help

Whether you’re downgrading from your big house to a modest one, or your budget has become quite tight that you need to have some sort of financial allowance, selling your house can prove to be difficult at times – especially when good buyers are quite hard to find.

More so, selling a property can become a challenge when completing the surrounding legal tasks is just too much for you. This is why you need a conveyancing solicitor who can find the proper workaround for your property sale to be successful.

But if you’re unfamiliar with what this legal process is and how a conveyancer can help ease your worries, here’s your chance to get yourself familiar with it.

What is conveyancing?

Simply put, this is the legal process of making sure that the property’s ownership is transferred from your name to the buyer’s.

What are conveyancing solicitors?

They are the ones who ensure that the conveyancing process is carried out according to regulations and quality standards.

What do they do the help you as a property seller?

Generally, as soon as you instruct your conveyancing solicitor to act on your behalf throughout the sale, they should carry out the following tasks for you:

  • Verify the Property’s Title – They will coordinate with the Land Registry and let the buyer know that the property is good to be sold and that the title deeds are verified
  • Sort Out the Contract – Your conveyancing solicitor should write a draft of the contract containing the terms of the sale and edit as necessary
  • Address Property Enquiries Made by the Buyer – They will coordinate with you to get the details about the property to address questions made by the buyer through their conveyancing solicitor
  • Be in Charge of the Funds – Your conveyancing solicitor will hold the monies forwarded by the buyer (through their conveyancer) that will cover the deposit and balance payment (from the mortgage funds) for the property
  • Provide Sound Legal Advice – Especially when faced with quite complex transaction issues, your conveyancer should be able to set your expectations and find a workaround to get the problems sorted.

How can you find the right conveyancing solicitor?

When it comes to selecting a conveyancer to help you with selling your house, you can try finding one based in the local area as they more familiar with the local property laws and regulations. This will tremendously help with potentially fast-tracking the transfer.

You might also want to consider recommendations from family members and friends who have worked with a competent conveyancing solicitor. This way, you’ll very likely know what they’re on about and how good they are.

But if you still want to have other options, and you want someone who can provide the best value for your money and then some, shop around on the Internet. Ask for a few conveyancing quotes from different conveyancers that you can compare and choose from. Just make sure that you thoroughly check the pricing structure to set your budget and find out what you need to pay upfront and how much you should expect to pay in the end. Remember not to settle for the cheap adverts and make sure to lift the phone and make your enquiries to get the details.

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How Long Does the Conveyancing Process Take?

Selling or buying a house requires going through the legal process of transferring its ownership from one party to another. This is called conveyancing. Whilst it’s supposed to be a really straightforward process, there are times that it can take so long that you feel the stress already building up. The best things to eliminate the stress is to actually get a professional – a licensed conveyancer or a property solicitor – to get things done for you.

To even set your expectations properly, you should know that there is no exact timeline to follow when going through conveyancing.

But how long does conveyancing take?

It depends on the factors that surround the sale/purchase. Removing all complicated instances though, you can expect conveyancing to be completed in 6 to 12 weeks on the average. It can even be quicker in some situations, especially if you’ve got all the paperwork sorted out ahead of time.

However, there are times that your own personal situations can drag the process on for a few more weeks. If you’re buying a property, getting your official mortgage approval can be one of the reasons your conveyancer cannot move forward to the next stage.

Transaction chains can also make the process move a bit slower. This is because the purchase or sale on the side that you or your seller might be doing would also have to go through the conveyancing process. If this is the case, you can look at several more weeks before you can actually see the entire process completed.

The property’s location is also one of the factors that could affect your conveyancing timeline. With the searches that the conveyancer have to conduct, their results could take from a day to a couple of weeks. These searches are important as they determine situations, development plans, and liabilities that could affect your property or living condition.

What factors can affect your conveyancing timeline?

The Seller

When you’re buying, and particularly a previously owned property, you will need the seller to grant your conveyancer or your surveyor an access to the property to conduct pre-purchase inspections. And if it takes them long to respond to this request, or are being uncooperative, then conveyancing can take a little longer than you expect.

Your queries before finalising the purchase and exchanging contracts must also be addressed by the seller through their conveyancer. If this takes a while, so does completion of the conveyancing process for you.

The Buyer

Your own situations as a buyer can also drag the conveyancing process on. We’ve mentioned that getting your mortgage approval significantly affects the conveyancing timeline. If the delay in getting your mortgage is caught in the process of exchanging contracts, then you’re in for a while longer for conveyancing to complete. Of course, your seller needs to receive the monies first before everything is wrapped up.

The Property

There are times that even if you and the seller are ready to move along, the property itself shows some problems. Besides the time it takes to get the search and survey results before you move forward with the transaction, the property’s title needs to be verified. And if there are errors in the Land Registry documents, or the property was not registered in the seller’s name, then it will take long to rectify that.

In conclusion, it’s worth noting that every conveyancing process in every transaction is different. A definite timeline has not been set by the governing bodies as they’re all dependent on certain factors which can make the process quicker or slower. What’s important here is that you have a diligent conveyancer who works on everything for you and sets your expectations properly, so you won’t have to hold your hands in your face to keep from screaming in frustration.

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What Is a Fixed Fee Conveyancing Service?

Whether you’re buying or selling a property, you should know that your transaction will never be complete if it doesn’t go through the conveyancing process. And yes, this means that you’ll have to set out a budget for this service on top of your other expenses. But how much should you really expect to spend on this service?

GREAT NEWS!

Conveyancing has become quite a competitive market these days. Yes, with the growing number of would-be property buyers and sellers, conveyancing services have come about and are everywhere. Even thanks to the Internet, you’ll never have to actually drive around everywhere and pay local conveyancing and law offices a visit and make enquiries.

What makes it even more brilliant is that because conveyancing has become competitive, the hourly or percentage-of-the-sale-price rates for conveyancing services became very rare. At this time, majority of firms and independent solicitors are now offering fixed-price conveyancing services.

Yes, you don’t have to pay your conveyancer by the hour now. You won’t even have to worry about them getting a huge chunk of the sale proceeds in fees.

What is fixed fee conveyancing?

Simply defined, as a buyer or seller who avails conveyancing services, you are charged a fixed amount for their expertise and time. However, do not mistake this for the disbursements that they may initially cover for you. The fixed amount is only set for their basic fees.

How much would this cost?

Well, it depends on who you have chosen to instruct. Basic fees can actually range from £200 to £500, and this should cover the amount of time they spend on dealing with your case, photocopying and courier/postage of documents, legal advice, and phone conversations.

What about the other charges?

They shouldn’t really be calculated together with the (fixed) basic fees. Typically, when you request for a conveyancing quote, you should see the other charges itemised (as disbursements). These include, but are not limited to the following:

For Sellers:

  • Land Registry Office Copies
  • Telegraphic Transfer Fee

For Buyers:

  • Land Registry Office Copies
  • Bankruptcy Search
  • Local Authority Searches
  • Drainage Search
  • Chancel Repair Liability Search
  • Environmental Search
  • Location Specific Local Searches
  • Land Registration Fee
  • Telegraphic Transfer Fee
  • Stamp Duty Land Tax

What should not be included in the disbursements?

A lot of conveyancers actually assume that they can get away with listing a few things in the price quotes that should not even be there? Why? It’s primarily because these items should be covered by the fixed amount that they charge for their services. These items should be covered by their basic fees.

  • Professional Indemnity Contribution
  • Filling Out the Stamp Duty Tax Return
  • Dealing with your Lender
  • Dealing with Leasehold Property

This is why fixed-price conveyancing services can cost up to £500 (even a thousand in some cases). The items above should be covered by their basic fees. If you come across a conveyancing quote that offers only £100 on their services, start asking yourself if they’re going to charge you extra for other things that should be included in their basic fees.

It’s worth noting that you should be on the lookout for the fine print. When going over quotes for fixed-price conveyancing, always check the items listed to make sure you’re getting the right details. If you’re in doubt of anything, make a phone call and enquire about the services. This is when you can actually ask what value they could give for your money.

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Instructing A Conveyancer On Your Buy To Let Investment

While prices are soaring high mostly in London, buyers find it a bit harder to afford a mortgage for a home in the heart of the city. However, one might see a good chance for them to become a first-time landlord by purchasing a property to let.

And as a rule of the thumb, a property investor who wants to succeed in this venture should think of three rules to begin with: location, location, and location. Future and first-time landlords should choose an area not just attractive within a borough but also has a high demand for places to rent. A good local culture and public transport access are also very ideal.

For instance, properties in Camden Town maybe considered for its very lavish nightlife, attracting young professionals and students. It’s also well-linked to the Underground and bus. Camden town has become a very popular area and its market for potential tenants is quite rich.

And if you’re looking to be one of the thriving landlords in the heart of the city, here’s what you need to know about conveyancing.

Conveyancing solicitors provide enough aides to landlords in a lot of ways and play a huge part in making sure that the property is ready to be rented out. If you’re a landlord, you might want to make enquiries to your conveyancer about tenancy agreements to protect your rights and clarify your responsibilities. They could also advise you properly on developments about letting out your home so you stay within regulations as you run your letting business.

Everything changes and you need to keep up with it.

The laws governing rented properties are just as dynamic as other regulations, and it’s quite easy for someone to miss out on some changes if they’re not fully aware of what’s happening. Your conveyancing solicitor can help you stop this from happening.

They can also work on an inventory together with a schedule of tenancy guidelines before your tenants move in. This will protect you should something happen in the property or its contents get damaged during the tenancy.

You can discuss the rental agreement with your conveyancer and seek their advice about particular statements you want drawn in it.

Hire the best conveyancer.

The first time you’ll need a conveyancing solicitor is when you buy your own home. It’s their job to get the deal done, particularly the legal transfer of ownership from its current owner to you.

Conveyancers oversee that the seller is legally entitled to sell the property and there are no issues about the buyer that could keep them from getting a mortgage to fund the purchase.

At the end of the process, you, as a buyer, will be given all the paperwork proving that you are the new owner of the property.

And if you’re worried about the fees, there are conveyancers who charge significantly less than the others. But whatever cost you pay them, you should be sure they will give you the best value for your money.

Find a solicitor whom you think you can rely on to make the whole process seamless and worth your money. If you still haven’t got an idea who to hire, you might want to ask for different conveyancing quotes to compare and choose from. The best thing about shopping around is that you get to look at the details, from basic fees to other expenses included. You can make your initial enquiries first before you get your instructions sorted.

If you think you have someone in mind after contemplating, you can get in touch with a suitable conveyancing firm/solicitor and talk to them about your objectives and what you want to happen.

How You and Your Conveyancer Can Resolve Disputes

Expect your conveyancer to act on your behalf and look after your best interest. They should also keep you updated with what’s happening, and explain things in easy to understand terms.

To narrow down your list of potential conveyancers to hire, you also might want to look for someone who specialises in working with landlords to give you sound advice on possible landlord-tenant issues.

They can work on renegotiated agreements and have your property back if you need to evict a tenant or end a lease early for legal reasons.

If you’re looking to venture on a buy-to-let property and become a landlord for the first time, hire a conveyancing solicitor who can help you avoid trouble and protect your property. If you don’t know where to find a suitable conveyancing, you can start by asking for conveyancing quotes right here.