I’m buying a new home in East London – do I need a conveyancer?
In a word, yes. Occasionally, with very simple property transactions, it is possible to handle all the legal aspects and paperwork yourself, but it is usually better to instruct a conveyancer to act for you. Chances are it will be cheaper and less stressful in the long run – here’s why:
It’s probably cheaper
Time is money. If you’re in rented accommodation and buying your first home, remember you will have to find the rent every month while you’re waiting for the sale to be completed. If you use a professional, independent conveyancer, the sale will probably go through more quickly than if you tried to do it all yourself. It’s likely that the time (and therefore rent) you save more than covers the cost of the conveyancing fees.
Even if you’re not renting, it’s still important to consider whether you can afford the time out of your work life to attend to the legal matters of buying a property. Conveyancing is not a simple process and doing it yourself will take up a lot of time and energy – other areas of your life could suffer.
You can’t do DIY conveyancing if you’re taking out a mortgage
If you’re taking out a mortgage to buy your new home, the mortgage lender will usually insist that you use a licensed conveyancer. This is to protect the interests of the mortgage lender and will probably be a condition of them lending to you in the first place.
A conveyancer is usually cheaper and more accessible than a solicitor
Even if you’re paying for a service, there’s no reason why you should pay over the odds. Choose a conveyancer rather than a solicitor – conveyancers are usually a bit cheaper, and are also property specialists. Solicitors often work in a number of areas, meaning that they might be stuck in court and not ready to take your call about your property purchase!
On the other hand, don’t just choose the cheapest conveyancer. Ask friends who have bought houses recently if they would recommend the conveyancer they used, or read online reviews and form your own opinion. Some conveyancers offer an inexpensive service, but it can be very basic and they may only communicate with you by post. Choose a conveyancer who offers a high-quality service – it will be quicker and less stressful. Many good conveyancers now provide an online tracker so you can check the progress of the purchase at any time, day or night!
Buy and sell property in East London
I have been selling property in East London for a long time and would always recommend buyers to use a conveyancer to handle the transfer of property, and not attempt to take it on themselves.
If you’re interested in buying property in East London, have a look at our property pages here. You can get in touch with me, Adam Dockley, today on 020 3633 4440 – I’d love to hear from you!