You will find plenty of great guides to help you negotiate the conveyancing process here, but if you haven’t time to have a browse, read on for a quick blast of conveyancing advice.
Conveyancing tips: George Osborne had bad news for first time buyers in his budget, removing the 0% rate on properties worth up to £250k
- If you are buying a home with someone who has bought a property before, you won’t qualify as a first-time buyer.
- Following the 2012 budget, first-time buyers are no longer exempt from Stamp Duty on properties worth up to £249,999; make sure you factor in additional costs when budgeting.
- Speaking of which, typical conveyancing fees are around £550 plus disbursements (expenses that you will have to pay) plus VAT. If you’re buying in London or the South East, expect that to be higher.
- If a conveyancer or conveyancing solicitor quotes much less than that, be cautious. They might be trying to pull the wool over your eyes, or maybe their focus is on price rather than value for money.
- Always get at least three quotes before deciding on who will do your conveyancing, unless you have used someone before that you got great service from. Compare the quotes closely just to see if anyone is hiding costs to keep their quote low.
- And if any prices are left off, then ask why. You don’t want to be stung by a much higher conveyancing bill than you bargained for.
- As much as price, it’s really beneficial to go with a no completion no fee conveyancing service, otherwise the heartache of a sale not going through could be compounded by a bill for ultimately unnecessary conveyancing work.
- Another thing to look out for when considering which conveyancing service to go for is whether they offer online case tracking. It’s a brilliant way of staying on top of where your case is. Even better if it’s free.
- It really makes very little difference whether you go for a conveyancing solicitor or a conveyancer, they both specialize in the same thing. Just be sure that they are certified, either by the Law Society or the Council for Licensed Conveyancers.
- Only consider doing your own conveyancing if you know exactly what you are doing. Otherwise it will be time consuming, stressful, and could be a disaster if you haven’t done it right. Your home is too precious and expensive to jeopardise. Some mortgage lenders have such little trust in DIY conveyancing that they won’t lend money to them.
