In recent years, there has been an increase in the number of people buying and selling property in Leicester. This has led to an increase in the fees charged by conveyancers.
Conveyancing is the legal process of transferring ownership of a property from one person to another. It can be a complex and time-consuming process, so it’s essential to use a qualified and experienced conveyancer.
The fees charged by conveyancers can vary depending on the type of property, the location, and the complexity of the transaction. In Leicester, the average fee for a conveyancing transaction is £1,320 when buying and £1,270 when selling. This is an increase of 5% and 4%, respectively, from the previous year.
The main reason for the increase in fees is the rise in property prices in Leicester. The average house price in Leicester is now £269,606, which is an increase when compared to last year. This means that more people are buying and selling property in the city, which has put pressure on conveyancers.
Another factor that has contributed to the increase in fees is the new stamp duty surcharge, which was introduced in April 2016. The surcharge applies to second homes and buy-to-let properties and is payable by the purchaser.
When you are buying or selling a property, it is important to compare conveyancing fees from different solicitors to ensure you are getting the best deal. Make sure you obtain the assistance of an experienced and knowledgeable conveyancing solicitor such as AVRillo to ensure that the procedure is completed swiftly, correctly, and without any problem.You can use online conveyancing comparison tool to get quotes from conveyancers in Leicester.
How Can You Save Money on Conveyancing Fees When Buying or Selling a Property in Leicester?
There are a few things you can do to save money on conveyancing fees when buying or selling a property in Leicester:
- Get quotes from multiple conveyancers:As we mentioned above, it is important to compare conveyancing fees from different solicitors before you instruct one. You can use our online conveyancing comparison tool to get quotes from conveyancers in Leicester.
- Instruct a conveyancer early on:If you instruct a conveyancer early on in the process, they will be able to start work straight away and potentially save you time and money.
- Be prepared:The more prepared you are, the easier the process will be for your conveyancer. Make sure you have all of the relevant documents ready before you instruct a conveyancer.
- Ask for a fixed fee:Some conveyancers will charge a fixed fee, which can help you budget for the transaction’s cost.
- Shop around:Don’t just instruct the first conveyancer you come across. Shop around and compare conveyancing fees before you make your decision.
Conclusion
Overall, conveyancing fees in Leicester have increased slightly over the past two years but remain very reasonable when compared to other parts of England. If you plan on buying or selling a property in Leicester, it is essential to factor in these additional costs when budgeting for your move. However, it is also worth noting that many solicitors will be willing to negotiate on their fees, so it is always worth shopping around for the best deal before instructing anyone to act on your behalf.