Solicitors fees for house buying: Things you need to know

solicitors fees for house buyingSolicitors fees are a part of the conveyancing quote that you get from conveyancing firms that offer legal assistance during your purchase of a house. When you are buying a house, you will most likely refer to a residential conveyancing firm with good experience in the area you are moving to. Solicitors fees for house buying can range from around £500 in areas like London and lower in other towns and borough in England or Wales. Fixed solicitor fees over tasks based rates are most recommended because there is much less chance you’ll be additionally charged. Look for these things on conveyancing quotes while choosing a solicitor.

“No completion, no fee” incentive

Most solicitors who offer “fixed conveyancing fees” also offer “no completion, no fee” incentive which means if the purchase of the house doesn’t go through, the legal fee is withdrawn and you don’t have to pay for the service. While this is a great incentive for the buyer, it also makes the solicitor work carefully to make sure the purchase goes through. The work is much more dedicated as if the conveyancing isn’t successful, they will not get paid.

Conveyancing comparison sites

Conveyancing solicitor’s fees differ from firm to firm. As you look through different conveyancing comparison sites, you’ll get multiple rates through different conveyancing firms willing to help you with the case. Most often the conveyancing quote from these firm distinctly includes basic solicitor’s fee. The basic solicitor fee may or may not include the additional VAT. Then there are the disbursement fees to be paid for tasks like Land Registry Office copies, Telegraphic transfers, searches and others.

Low cost or Experienced

Choosing a cost effective solicitor is often what people look for. But making sure the service is regarded well by past clients make those solicitors a better choice. You have to choose experience, and quality over the lowest solicitor’s fee while looking through conveyancing quotes. You would not want to be misguided to choosing a solicitor just based on the lowest fees.

Having years of experience with working with a local authority, lenders, and brokers. These will help increase the speed of conveyancing in the lowest time possible. While using an online conveyancing solicitor may reduce solicitor fees and other extra costs, having a dedicated conveyancer will only make it more convenient and easy.

Advertised rates Vs real rates

You also have to be careful with advertised conveyancing quotes and their solicitor’s fees as they may not include a few charges to make it seem like a bargain for the visitor. Things like legal work dealing with the mortgage may not be included in the advertised online quote. Also, often solicitors without accreditation from the Conveyancing Quality Scheme (CQS) by the Law Society tend to charge low solicitor fees. But CQS accreditation means they work with higher standards for the benefit of the client. This can be verified from the Law Society’s official site.

You may be surprised to know that there is often no correlation between expensive solicitor fees and quality service. So it’s vital to carry out your own research and look for reviews from previous clients online and offline to make sure you get a good quality conveyancing solicitor for buying your new house.