Conveyancing costs

Embarking upon a property transaction can be a stressful and lengthy process for buyer or seller. As part of this process, it is common to instruct a conveyancer: a specialist property lawyer who possesses the skill and expertise to deal with the legal aspect of the transaction.

The sort of work a conveyancer will typically undertake includes conducting searches, investigating title, liaising with mortgage lenders and dealing with stamp duty land tax, to name a few. However, for larger or more complex transactions the conveyancing costs may rise if there is more work to be done. For example, applying for planning permission would be completed by the conveyancer and would be an additional cost.

Some people become concerned about conveyancing costs and, in an attempt to save money, will endeavour to complete the conveyance themselves. This is not advisable for those with no previous property experience as small mistakes can be hugely detrimental to the sale and unnecessary delays could lead to the collapse of the transaction.

Keeping conveyancing costs low depends on what conveyancer you instruct. Often estate agents will recommend a particular conveyancer, however the agent may be taking a personal commission in doing this which will come from your pocket. (To contrast, Contact Law makes a commission from the solicitor, but this isn’t passed on to the client.) Additionally, it may not be cost-effective to instruct only the very top, licensed conveyancers when a general solicitor may be able to do the same job. A licensed conveyancer would have taken extra training provided by the Council of Licensed Conveyancers and sat the requisite exams too. Whilst a licensed conveyancer may be a necessity for a complicated property transaction, a regular solicitor practicing property law can do all the work on a typical residential conveyance.

To ensure you have a good idea of the conveyancing costs you are likely to encounter it will help to completely understand the extent of the work that needs to be done on the property transaction.

If you would like to obtain legal advice on conveyancing costs then Contact Law can put you in touch with a local specialist property / conveyancing solicitor free of charge. So, if you have any questions or would like our help in finding local property / conveyancing solicitors please call us on 0808 129 5758 or complete the web-form above.