Making sense of solicitors’ quotesYou’ve found a property you want to buy and got your mortgage application ready to go, so now you need to hire a solicitor to do the legal work for you in order to complete the deal and move in.
Finding the right person to do your conveyancing is really important as if, for example, you use a solicitor that drags their heels and holds up the buying process, your property purchase could fall through. It’s a good idea to get a few quotes from different solicitors before picking one, as fees can vary widely depending on who you go to.
Make sure you’re clear on what each solicitor’s quote covers, so you know exactly what you’re getting for your money. The solicitor will need to conduct the appropriate searches and spot any potential issues. For example, if there’s a dual carriageway due to be built near to the property you’re buying in the next couple of years, it’s their duty to find out and let you know about it. They’ll also be responsible for legally transferring ownership of the property from the vendor to you, as well as transferring the funds to pay for your new home across and repaying your existing mortgage if you have one.
Your solicitor will also usually submit a Stamp Duty Land Tax return on your behalf, as you need to pay the Stamp Duty you owe within 30 days of completing the purchase of your property.
If you apply for your mortgage through L&C, any solicitor or licensed conveyancer we recommend is guaranteed to be recognised and approved by the lender you are applying to for your mortgage. Our solicitors and licensed conveyancers work to fixed pre-agreed prices, so regardless of what firm we recommend you can be assured the cost of the standard legal work to you will be the same.