A conveyancing solicitor London handles the legal elements of buying and selling property. When you first put in an offer on a property, the first thing you are likely to be asked is for the name and contact details of your solicitor, who will handle the transfer of ownership to you.
A conveyancing solicitor:
- Handles contracts
- Gives legal advice
- Carries out local council searches
- Deals with the Land Registry
- Transfers the money to pay for the property
You may decide to instruct a licenced conveyancer instead. However, it is an important role, so you should choose carefully. Although licenced conveyancers are specialised in property sales and purchases, they cannot deal with complex legal issues that may arise.
Finding a conveyancing solicitor
- Think about asking friends and family for a recommendation
- Ask your mortgage provider, Independent Financial Adviser, or mortgage broker
- Do an online search. Although this will probably bring up many options, you can narrow the search to look for conveyancing solicitors in your local area, or the area you are purchasing in. Searching online also enables you to check out reviews and ratings
- Estate agents might have a list of conveyancers, although care should be taken to compare prices, as it could prove to be an expensive mistake. This is because some estate agents have a financial agreement in place for every client they pass over.
- Consider online conveyancing. This is a growing and popular area and because you deal with the conveyancing solicitor by email or phone, it is often the cheaper option
- Ensure your chosen conveyancing solicitor is a member of the Law Society and a member of the Law Society’s Conveyancing Quality Scheme
Be aware that conveyancing solicitors must be members of the Council for Licenced Conveyancers.
How much will it cost?
You should find out how the conveyancing solicitor’s fee structure works. Solicitors charge in several ways, including:
- Fixed fees
- Hourly rates
- A percentage of the property’s sale price
If you are considering getting quotes for the work, it should include VAT and a breakdown of all the charges, such as:
- Searches
- Bank transfers
- Land Registry fees
- Land Transaction Tax, Buildings and Land Transaction Tax, and Stamp Duty Land Tax (where applicable)
- Postage and courier costs
- The cost of additional work if the process is more complex or requires a quick completion
- Some conveyancing solicitors may charge more if there is a Help to Buy or Lifetime ISA involved, or when buying or selling a shared ownership property.
Ensure you find out the best way and time to contact your conveyancing solicitor and check whether they have a system that enables you to track how the purchase is progressing at your own convenience. Check if the solicitor has any annual leave booked when you need them and if they are away, who will look after the purchase when they are out of the office or sick.
Buying a house is a stressful time and can be fraught with anxiety. But having a conveyancing solicitor you can count on, and who can answer any questions, makes the experience a lot easier.
