One in four home movers say they paid more than they were quoted for their conveyancing, while nearly four in ten (37%) said they had paid the same as quoted, according to a new survey published by home moving comparison site Compare My Move.
A quarter (25%) of respondents said the cost of their conveyancing solicitor was slightly higher than initially quoted. The average cost of conveyancing outside of London last year was £1919.73, while in London the average was £2509.95.
“It’s clear that conveyancing solicitors remain an essential part of the property transaction process, but it’s equally clear that people are looking for ways to save money and reduce stress during this important stage of moving,”
said Dave Sayce, co-founder of Compare My Move.
Of those surveyed, 27% had instructed a conveyancer in the last 12 months; 66% had instructed a conveyancer for the purchase of a property, and 51% appointed a conveyancer to handle a sale.
In addition to the discrepancies between the fees that had been quoted and the final costs, respondents were asked how long their home move took. The average length of time it took conveyancers in the UK to complete a property transaction was 3.52 months, which dropped to 2.92 months in London. Sayce concluded:
“Our survey provides a fascinating look into the state of conveyancing in the UK, showing not only how much people are spending, but also how the costs and timelines vary depending on where they are in the country.”
3 responses
Those figures seem high, do they include VAT and disbu3?
They have to include disbursements of which there are way more on a purchase! Working in the sector, if people who are moving want to save money use an online agent! Estate agents are the money makers NOT conveyancers!
When quoting costs, conveyancers have very little to go on and, invariably, nowadays problems arise from previous transactions which have to be cleared up by the acting conveyancer and this is usually why final costs can be higher than quoted.