How to save money on property conveyancing
One of the large costs incurred when moving house is the cost of conveyancing. Conveyancing is the legal transfer of deeds from the current property owner to the new owner. This legal work is nearly always carried out by a solicitor or a licensed conveyancer.
You can use your local solicitor for this process but it can be very expensive when you realise that a lot of money can be saved by shopping around. When we say shop around we mean that you could make contact with half a dozen or so firms local to you by telephone or you could make a personal visit to the practice. We think it’s better to use the Internet to do this as it is very quick to get a number of quotations for conveyancing fee work.
It is no longer necessary to meet with your conveyancing solicitor and you can communicate with them via post, phone and email. This allows you to have the choice of conveyancing solicitors from anywhere in England or Wales.
There are plenty of good comparison sites out there and you can save a few hundred pounds quite quickly. What happens is that firms of solicitors that are looking to gain extra work will sign up as panel member solicitors and will deal with lots of cases being sourced from the panel. You would probably find that if you were to trace one of these panel solicitors back to their own websites, that they have the ability to generate quotations themselves independently of the panel which would probably result in the generation of a much higher price for the same work being done.
The panel solicitors are relying on volume of cases to be able to work at such cheap fees. I think the underlying problem with most solicitor firms is that they don’t grasp IT very well and need to be able to grasp and use other peoples technology in favour of developing their own. The panel membership is very easy to adapt as they just setup their own back end matrix data for auto-quoting which is provided by the panel owner. They normally have systems attached that enable you to track your case for milestone event updates and aid communication.
Comparison sites can allow you to save a lot of money on your move, we have compared property conveyancing costs on equoteconveyancing, and a number of other websites, and equoteconveyancing came out well in our research as they provide very clear pricing with no hidden fees and have an easy to use website.
If you know of any other good conveyancing comparison sites, please let us know. We weren’t that impressed with some of the others we looked at because they appeared to no be disclosing all of the costs. For example, items such as “completion of Stamp Duty Land Tax form” were clearly marked as “included in the price” on the equoteconveyancing website – but ominous by their absence on some of the other quotes … or charged at £50!