Conveyancing: Should I Get A Conveyancer Or A Solicitor?
You’ve found your dream home and you have decided to purchase it. However, there are so many property transaction legal documents that need processing before the property is officially yours, which is the legal side of things known as – Conveyancing.
Many of you might have heard about the debate between conveyancer and solicitor, but let us start off with a fact – A good conveyancer such as My Conveyancing Specialist will perform as well as a solicitor, depending on your needs.
What’s Conveyancing?
In short, conveyancing is a legal process that an individual need to go through to complete property transactions.
Did you know you are not legally obligated to get a conveyancer or solicitor in transferring ownership? However, be ready to set aside a large amount of time to learn and execute, as it will be a long journey and you might even find yourself losing more money!
Getting a licensed conveyancer or solicitor will ensure that the conveyancing process is conducted in a quicker and more efficient manner.
Solicitor and Conveyancer: What’s The Difference?
Basically, both solicitor and conveyancer are allowed to conduct the conveyancing process on your behalf, but the nature of their work has led to some differences.
Conveyancing Solicitor
A solicitor is a qualified professional that is able to conduct multiple types of legal services in different fields. They have received full legal training and they are regulated by SRA (Solicitors Regulation Authority). A solicitor that specializes in conveyancing is known as a conveyancing solicitor.
Licensed Conveyancer
Licensed conveyancers are specialist property lawyers that have received legal training in terms of property sales. They are also regulated by a body called CLC (Council For Licensed Conveyancers). The rules might differ from the SRA, but you should not be worried as the bodies exist to protect you.
Key Differences
Both solicitors and conveyancers perform the same job, but there are some differences in terms of their regulatory bodies and the way they are trained.
- Solicitors are able to act for one party while conveyancers are able to act for both sides
- Solicitors need to disclose the referral fees they obtained from estate agents.
- Solicitors are trained in all legal aspects and have received much more comprehensive training, which might result in higher legal fees.
Advantages and Disadvantages Of Solicitor And Conveyancer
Solicitors
Advantages
Solicitors are more knowledgeable in the law field, which means they are able to handle more complex legal issues if the process gets complicated or eventually into court
Disadvantages
In many cases, solicitors will charge a higher premium as they are qualified lawyers. Solicitors are always a good choice if you prefer certainty.
Conveyancers
Advantages
Conveyancers are specialized in the field, which means they are experienced in property conveyancing law. Their experience in the field is no less than any experienced conveyancing lawyers out there and they also charge a lower price for their services.
Disadvantages
The disadvantage of conveyancers becomes apparent when something major goes wrong in your conveyancing process. If you are having complications going to court, you’ll need to hire a property lawyer or a solicitor to represent you, which will be very costly.
Do I Really Need A Solicitor or Conveyancer?
Many people are looking into DIY conveyancing options. However, there are many mortgage lenders that will not lend funds unless you are represented by a solicitor or conveyancer. Most mortgage lenders will approve fairly quickly if you are represented by a reputable solicitor or conveyancer.
Did you know there are fixed fees you’ll need to pay regardless? Fees such as land registry, stamp duty land tax, property searches, or land transaction tax are paid by the buyer. Why not pay a lump sum to the experts and let them do the work for you?
Conclusion
In short, engage conveyancing solicitors if you are getting a property that might have complications, or engage conveyancers for a low-cost and straight-to-the-point conveyancing process.
Both options work the same- which is to get your legal ownership transferred. Contact your local solicitor or conveyancer to get a quote now.
