Tell me about conveyancing.. « Singletrack Forum

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Tell me about conveyancing..

10 posts & 6 voices | Started 6 months ago by no_eyed_deer | Latest reply from richc

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no_eyed_deer - Member

I've decided to forgo adding a Yeti ASR 5C to add to my collection of, erm.. 9 bikes ..and have, instead, bought my first house! Eeeekk..

(If any of you observant types will notice that this is the same no_eyed_deer who 3 weeks ago was bemoaning the hopeless cost of rent and considering the option of living in a static caravan)

So from thinking about living in a static caravan... to actually buying a house in 3 short weeks. Hmmm...

Anyways.. Conveyancing:
There seems to be a monsterous difference in price between the local solicitors in Aberystwyth and other 'supermarket' types online.. e.g. £1000 vs 500 all inc.

So it should be a bit of a no brainer really. BUT. I need a conveyancer approved on Santander's 'panel', because they're the ones giving me all this virtual monopoly money to buy a house with.

I'm also wary of being too cheep with who I choose and running into difficulties as a result.

So... any tips for a greenhorn to all this house-buying malarky...

Oh, and did I do the right thing? (i.e In buying my first house rather than a Yeti ASR 5C?)

:Sigh:

Posted 6 months ago #
no_eyed_deer - Member

Ummmm... so I take it no one has had any experiences, good or bad of conveyancing solicitor-types.

Or any idea of how much it should typically cost...

Posted 6 months ago #
peterfile - Member

There seems to be a monsterous difference in price between the local solicitors in Aberystwyth and other 'supermarket' types online.. e.g. £1000 vs 500 all inc.

There's a difference between a conveyancer and a solicitor.

The higher prices are probably solicitors who do conveyancing work, and the lower prices will be firms of licensed conveyancers or conveyancing departments within law firms (but staffed by licenced conveyancers). I think the ones who specialise in conveyancing (e.g. the licensed conveyancers, tend to be cheaper due to economies of scale e.g. document churning capabilities, easier to cap PI cover and the fact they only advise on conveyancing)

Regardless, a variation of 100% is not uncommon for legal fees in respect of any type of work. Sometimes you even get what you pay for

Posted 6 months ago #
sugdenr - Member

Why Aber? Your solicitor can be anywhere (not scotland, they dont do the laws of england and wales). I pay 599 plus disbursments (searches and the like) and tax.
2 things - the 'solicitor' is actually just fronting the show and has a bunch of unqualified clerks doing the work. You are paying for straight conveyancing, if it gets trickey in any way then they will start charging you large because thats when the solicitor hopefully steps in and hopefully gives you the help you need.
Maybe look at licenced conveyancers, can be good value with greater experience.

Posted 6 months ago #
peterfile - Member

the 'solicitor' is actually just fronting the show and has a bunch of unqualified clerks doing the work.

That is true for pretty much every private client area of law that is dealt with by any cost efficient firm. If the solicitor did all the work you'd be getting hit with a much higher bill. It makes sense to delegate the easier/routine work to someone more junior (and cheaper) who will be just as capable of carrying it out.

The same is true in commerical law in respect of partners/associates/assistants. Clients, for some odd reason, think that the partner will be working for 70 hours a week on their relatively straightforward transaction, and then when they realise they won't be, they kick up fuss. Until of course they get a reworked fee quote with a partner rate of £595 per hour taking on 90% of the work. Then they whinge about being ripped off because the work could have been done by someone more junior.

Then you get the big businesses who are actually instructing lawyers through their own legal departments and who are so throttled into keeping external legal spend low that the external firms on their panel have to use nothing but junior lawyers to actually come in on budget, with partners doing no more than turn up to drinks evenings.

Posted 6 months ago #
richc - Member

You get what you pay for ultimately; so if the house has any issues (and if its a flat rather than a house, there will be some issues) a solicitor is a better bet.

From personal experience the buyers solicitor of the flat I am currently selling has asked over 180 questions in 3 weeks, including asking for the lease to be re-written.

A cheap conveyancer will not have the time or training to deal with this level of questions, so the sale will fall through, a solicitor will have the training (not necessarily the time though) so it might not fall through.

Solicitors are much more careful these days as more and more of them are being sued, so sales are much more complicated.

Personally I wouldn't go for the cheapest if you find a house you really want

Posted 6 months ago #
no_eyed_deer - Member

Cheers guys - some very useful advice there!

Given that the cheapest appears to be about £95 and the most expensive is £1200, I think I'll go for the middle option - about £530 - which is quoted from an actual solicitors, thereby having the saftey net of legal expertise that you mentioned.

It should be a pretty straight forward sale though. It is just a house, albeit a 107 year old one.

Posted 6 months ago #
cynic-al - Member

Going mid price seems sensible in the absence of a recommendation.

Don't you knkw anyone locally who has bought?

Good decision id say btw.

Posted 6 months ago #
29erKeith - Member

From personal experience I'd go with a recommended local solicitor, regarless of cost!
I'm currently struggling with one of the big conveyor belt companies. They're the most incompetent fools I've ever had to deal with, making the same mistakes over and over again because theres no continuity of staff. Over 4 weeks of delays so far because if them being useless. I'm on the phone every day chasing and they still don't seem to give a toss. Oh and they've just lost the original deeds for the house we're buying too Now

Don't what ever you do use Countrywide property lawyers or countrywide anything services, there do loads of others stuff too. I wouldn't touch 'em with a barge pole. In fact next time we move I'll go so far as to tell the estate agents that I will not accept any offers from buyers using cwpl.

Posted 6 months ago #
richc - Member

Don't what ever you do use Countrywide property lawyers

Ditto that, Countrywide are f**king useless in my experience to.

Posted 6 months ago #