Do you need a solicitor or a licensed conveyancer?
The Conveyancing process is a largely complicated and legal process which needs to be done diligently and correctly at each step to ensure that a full and clear title passes to the buyer. It involves a lot of legal paperwork, which is why hiring the services of a specialist who will ensure that you have a solid deal is important.
What will a solicitor or licensed conveyancer do?
A solicitor or a licensed conveyancer will carry out the legal and administrative side of conveyancing; they largely follow the same processes and procedures. They are both fully qualified and regulated to handle property transactions. They will clarify, draft and submit all legal documents that are required. Further, they will carry out the necessary research to ensure that the title of the property you are interested in is free from encumbrances. They will essentially be acting on your behalf during the entire Conveyancing process to ensure that the transfer of title is valid under the law.
What is the difference between the two?
There are some aspects one needs to keep in mind before making a decision on going with either a solicitor or licensed conveyancers, and this article will help you in determining which one suits your needs the most.
Regulated by different bodies
Solicitors and licensed conveyancers are regulated by different regulatory bodies; practising solicitors are regulated by the Solicitors Regulation Authority, whereas, licensed conveyancers are regulated by the Council for Licensed Conveyancers.
Solicitors are qualified specialist lawyers with extensive knowledge of vast areas of law, with some specializing in conveyancing. On the other hand, licensed conveyancers are specialist property lawyers, focusing on residential conveyancing.
What should be the main factor in deciding between the two?
The main consideration you should bear in mind when deciding whether you want to go for a solicitor or a licensed conveyancer is the complexity of the transaction. A solicitor will be a more appropriate choice for you, for instance, if there is a boundary dispute in the property that you are interested in. A solicitor will be qualified to give you legal advice and support in this aspect. However, in a simple transaction, a licensed conveyancer can aptly complete the Conveyancing process on your behalf.
Which will cost you more?
Hiring a solicitor will in all probability cost you more than a licensed conveyancer. Further, as a solicitor may also not have specialist knowledge of property transaction and have other cases of urgent nature which may cause delays in the conveyancing process.
Solicitor or licensed conveyancer on mortgage lender panels
The difference between a solicitor and a licensed conveyancer is also important to be kept in mind when you are getting a mortgage. As mortgage lenders usually only deal with such solicitors or licensed conveyancers who are on their “panel”. Therefore, if you want to save yourself from having to pay bank representation fees, which can be around a couple of hundred pounds, you need to ensure that the solicitor or licensed conveyancer you want to go with is on the panel of your mortgage lender.
Solicitors and licensed conveyancers carry out the same tasks when it comes to hiring a specialist to carry out the process of Conveyancing on your behalf. You should keep the aforementioned points in mind when deciding which option is best suited for you.
Please note that the information provided on this page:
- Does not provide a complete or authoritative statement of the law;
- Does not constitute legal advice by Net Lawman;
- Does not create a contractual relationship;
- Does not form part of any other advice, whether paid or free.
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