One of the most common questions we hear is – “is my conveyancing too expensive?” – and while there’s no right or wrong answer, there are some important points to consider when comparing your conveyancing quotes.
How much your conveyancing costs will all depend on where your house is, how much it’s worth, where your solicitor is based and how much experience they have, plus several other things. For example, a leasehold property requires more paperwork and so automatically costs more than a freehold property. In general though, conveyancing will cost between £500-1,200.
First of all, you will have your solicitor’s fees, which again can vary. Then there’s conveyancing searches which are usually between £200-400 depending on the area. There’s also registrations with the Land Registry, plus other paperwork and services.
You can find a more in-depth list discussion on conveyancing prices in our post ‘Avoid Unexpected Conveyancing Fees When Comparing Costs Online’.
The main thing to consider is that you shouldn’t be focussing entirely on the cost of your conveyancing, it’s all about value. While one quote might be cheaper than another, it may not include all the things you need, or it might not have the added value of fixed fees and a No Move No Fee guarantee.
At The Solicitor Finder, the solicitors we work with all vary in price and many don’t claim to be the cheapest (just wait a second before you run in the opposite direction!) as the cheapest isn’t always necessarily the best. What they do claim to be, however, is great value.
All of the solicitors we work with offer ‘Fixed Fees’ which means that the initial quote you see is the price you will pay on Completion day. You’d be surprised how many conveyancing firms don’t offer this, and how many times we’ve heard clients say they wish they’d opted for Fixed Fees on their first sale or purchase as their supposedly ‘cheap’ solicitor ended up adding numerous charges on and ended up giving them a much larger bill than was promised at the end – meaning it wasn’t so cheap after all.
Another clause to go for is a ‘No Move No Fee’ guarantee, which means that in the unlucky event that your sale or purchase falls through, we’ll do the conveyancing on the next property you find for free. When you factor this in it actually brings the potential cost of conveyancing right down.
So rather than asking “is my conveyancing expensive”, try finding out the value of your quote – what does it include? Are there any guarantees? And will the apparently cheap quote be that same low price on completion? These are the questions that will save you money in the long run.
If you’re thinking “is my conveyancing too expensive?” and would like to discuss any aspect of conveyancing costs just give us a call on 0800 038 6644.