Picking the right conveyancing solicitor can be like picking a needle out of the haystack. Do you rely on recommendations from family or friends or pave your own way and select one yourself? Do you go for the cheapest fees? Or do you find the one with the best rating on yelp?
Our 10 things to consider when picking a conveyancing solicitor will give you all of the information you need to make the best choice.
Are they on your mortgage lender’s panel?
Picking a solicitor that is not on your mortgage lender’s approved panel of solicitors can lead to unnecessary complications or even a refusal to lend. Make sure that your appointed solicitor is on the panel of the bank or building society you’re using for your mortgage. If they’re not ask them to register with that lender. Registration can take time and, in a time dependent market this can cause issues.
Solicitors will all charge fees, these can be wide ranging, depending on location and reputation. Ordinarily a house purchase will be a trying time on your finances so make sure that you budget for your conveyancing costs. The cheapest conveyancer is not often the best solicitor so be cautious if the price is significantly lower than you expected.
A great way of evaluating a solicitor is to check what the previous clients have to say about them as a conveyancer. If a conveyancer has outstanding reviews from people that they have taken through the process you’re likely to be in safe hands. To find out more about how solicitors help during the house buying process you can get additional information here: https://righttobuy.gov.uk/apply/whathappensnext.
Ask your family and friends
At some point they our friends and family are likely to have been through the house buying process. Having a family recommended solicitor gives you a good idea of what expectations you should have. Likewise, if they have had a poor experience you know you can discount them from your list.
Check their credentials
Experienced solicitors are likely to be far better equipped to handle your conveyancing than a practice that is made up of legal juniors. Don’t be afraid to ask your solicitor what experience they have and what qualifications they hold. Woodgrange Solicitors advise that a good legal practice will always be able to demonstrate their capability to handle your conveyancing.
Don’t take an estate agent’s recommendation
Estate agencies currently face a vast number of financial challenges, one way they negate this is by having an agreement with solicitors. Often times an estate agent will recommend a conveyancer. This is normally because they have a financial agreement for every client they pass over. This can lead to you receiving a poorer service than if you had sought out your own conveyancer or solicitor.
Local knowledge could play a role
While you may be tempted to hire a conveyancer in a different location because they offer attractive rates, this may also have repercussions. Hiring a conveyancer from your local area puts them at an advantage because they specialise in that location. A local conveyancer will be abreast of local developments and news that could potentially impact your property purchase. Hiring a local solicitor could significantly speed up the completion process.
Find out your solicitors fee structure
Tying back to the original fee point, you should find out how your conveyancer’s fee structure operates and whether they charge a fixed fee or if they charge a percentage of the property value. Some conveyancers like estate agents will charge a percentage of the value of the property you’re purchasing which could drive up fees compared to traditional fixed fee conveyancers.
Make sure they provide a full breakdown of their fees
A reputable conveyancer should always provide a full breakdown of costs so you’re in no two minds about the services you’re paying for. Approaching a solicitor to manage your property sale or purchase should be transparent and clear from the very beginning.
The property buying process can be convoluted and confusing, especially if you’re a first-time buyer. A conveyancer that communicates with you as the process unfolds is definitely one you should seek out. Chasing solicitors as well as all of the other hassles that come along with buying a property is additional and unneeded stress. Good conveyancers hold your hand every step of the way. To find out more about the conveyancing process this article by money supermarket gives a clear and concise breakdown: https://www.moneysupermarket.com/mortgages/first-time-buyers/guide-to-conveyancing.
Choosing the right solicitor could be the single most important thing you do along the house buying journey. A well-qualified, communicative and informed solicitor can relieve you of any additional stress and allow you to concentrate on other things like choosing a removals service and getting set up in your new house.