Cheap Conveyancing Solicitors can be found all over the internet, however, before going ahead with the cheapest quote you find, read this quick guide to getting the most for your money. Competition in the conveyancing industry has lead some companies to resort to tactics such as advertising with extremely cheap legal fees, which exclude integral costs. As such those who are understandably lured in by the promise of low fees can be hit with unexpected expenses.
We carry out competitor price checks on a monthly basis, and have found that some conveyancing solicitors are adopting this approach, attracting customers with the promise of low rates and neglecting to include additional integral costs such as searches and charges for dealing with lenders.
Where firms are only advertising their legal fee, which could for example be as little as £89, the Conveyancing Quote appears to be very cheap. Be very wary of this because our price checks have found that in some cases the overall costs of the conveyancing including all the added charges could end up being around £3,000. Such a huge difference in price indicates that research into the conveyancing quote you are given is well worth it.
By marketing their service as 'cheap' or 'only £89!' these firms are giving the impression that your conveyancing will be a fixed price. However, depending on the property and other circumstances this isn't always the case. Cheap Conveyancing Solicitors may try to charge you for unnecessary 3rd party searches (listed below) and even for things like contributions towards personal indemnity insurance, which is actually an overhead that all solicitors have to pay and should be included in the legal fee.
Examples of some of the searches that may or may not be required:
* Environmental Search
* Flood Search
* Chancel Repair Liability Search
* Planning Search
* Coal Mining and Cheshire Brine Search
* Tin Mining Search
* Limestone Mining Search
* China Clay Search
Not all of these searches are absolutely required for your property. When you obtain your quote you should always check with your lender which searches are required - you don't want to be paying for searches that you don't need, as in some cases they can cost hundreds of pounds.
There are a few key potential hidden charges to look out for. The professional indemnity charge as mentioned above is one. Also covered in the basic legal fee should be charges for postage and phone calls, as well as completing the Stamp Duty Land Tax form and insurance for "no sale no fee", which should be offered as standard.
Added charges are not only unfair but are also going against the Solicitors Regulation Authorities' recently introduced new rules, which make clear that headline prices should not be employed in order to mislead potential clients. Hopefully this will help end the unethical pricing practiced by some firms and improve the experience for consumers.
We carry out competitor price checks on a monthly basis, and have found that some conveyancing solicitors are adopting this approach, attracting customers with the promise of low rates and neglecting to include additional integral costs such as searches and charges for dealing with lenders.
Where firms are only advertising their legal fee, which could for example be as little as £89, the Conveyancing Quote appears to be very cheap. Be very wary of this because our price checks have found that in some cases the overall costs of the conveyancing including all the added charges could end up being around £3,000. Such a huge difference in price indicates that research into the conveyancing quote you are given is well worth it.
By marketing their service as 'cheap' or 'only £89!' these firms are giving the impression that your conveyancing will be a fixed price. However, depending on the property and other circumstances this isn't always the case. Cheap Conveyancing Solicitors may try to charge you for unnecessary 3rd party searches (listed below) and even for things like contributions towards personal indemnity insurance, which is actually an overhead that all solicitors have to pay and should be included in the legal fee.
Examples of some of the searches that may or may not be required:
* Environmental Search
* Flood Search
* Chancel Repair Liability Search
* Planning Search
* Coal Mining and Cheshire Brine Search
* Tin Mining Search
* Limestone Mining Search
* China Clay Search
Not all of these searches are absolutely required for your property. When you obtain your quote you should always check with your lender which searches are required - you don't want to be paying for searches that you don't need, as in some cases they can cost hundreds of pounds.
There are a few key potential hidden charges to look out for. The professional indemnity charge as mentioned above is one. Also covered in the basic legal fee should be charges for postage and phone calls, as well as completing the Stamp Duty Land Tax form and insurance for "no sale no fee", which should be offered as standard.
Added charges are not only unfair but are also going against the Solicitors Regulation Authorities' recently introduced new rules, which make clear that headline prices should not be employed in order to mislead potential clients. Hopefully this will help end the unethical pricing practiced by some firms and improve the experience for consumers.
