If you are beginning the process of selling or buying a property, you’ll have heard about the need for a conveyancer or conveyancing solicitor to complete the legal side of things, but you may not fully understand what they do.
What is the difference between a conveyancer and a conveyancing solicitor?
Both are legal professionals who can help in the sale or purchase of a property, but a conveyancing solicitor is a fully qualified lawyer who specialises in property, whereas a conveyancer is only trained in that area.
The Solicitors Regulations Authority (SRA) regulates solicitors, while the Council for Licensed Conveyancers is the body which regulates conveyancers to protect consumers. It does this by having a set of standards which conveyancers must uphold in order to be able to provide high-quality legal services. A conveyancer can work for a firm of solicitors, in which case they would be regulated by the SRA.
While both are heavily regulated, there are some differences:
. Referral fee disclosures – Any payments made by a referring agency to a solicitor must be declared by a solicitor, while a conveyancer doesn’t have to do this.
. Qualifications – A conveyancer’s training is focused solely on property, but a solicitor is trained in all aspects of the law and their training takes much longer.
. Conflicts of interest – Conveyancers are allowed to act on behalf of both buyer and seller, but a solicitor is not allowed to do the same without informing you before you instruct them.
It may be best not to use the same conveyancer as the other party so that you can be sure they will be acting solely in your best interest. It pays to get a few conveyancing solicitors quotes from a few reputable firms such as https://www.samconveyancing.co.uk/conveyancing-quote before you decide.
Pros and cons
As a solicitor is fully trained in law, they can help if anything unexpected occurs during the process. They are, however, more expensive because of their extensive training.
A licensed conveyancer knows the ins and outs of buying and selling property as they deal with it every day, but they may only be able to deal with a straightforward transaction. If there are complications, they may need to refer you to a solicitor to sort them out.
Whatever you decide, do your research. Make sure that any law firm you instruct has experience in conveyancing and good reviews from other buyers and sellers. Watch out for any conveyancers offering an hourly rate for their work or a very cheap price. While you may save a few pounds, it could cost you more if their service is not up to scratch.
Choosing between a conveyancer and a solicitor
Both can handle the legal side of a property purchase, so the choice usually comes down to how complicated the sale is. A licensed conveyancer specialises in property transactions and is often cheaper. A solicitor can advise on many areas of law, which may push up the cost, but that breadth is worth paying for when a purchase has awkward elements, such as a separating couple selling the home, boundary disputes or other legal issues.
Solicitors in small practices can have drawbacks. Completion may be delayed if your solicitor is on holiday, more urgent cases may take priority, and you may need to visit in person to prove your identity. For a straightforward purchase, a conveyancer is often the better choice.
Whichever you pick, read customer reviews and check typical completion times. Be cautious about a firm recommended by an estate agent, as the agent may earn a commission that adds to your bill. Make sure you understand exactly what you are paying for and that there are no hidden charges.