Conveyancing is one of the most important processes in a real estate transaction. It is through conveyancing that the deal is completed, otherwise one risks losing a lot of money or the whole deal. It is thus obvious that one has to get a competent conveyancer to ensure that no mistake is made. There is, however, the question of cost. How much will conveyancing cost you? Well in the UK conveyancing is usually just about 12% of the total cost of the property. Another point to consider is the quality, as in any industry, quality can sometimes be costly. Indeed the very best conveyancers and solicitors in the UK charge slightly higher than the market average.

With current technology, this does not have to be the case. It is possible for one to get cheaper options for conveyancing. Options such as online conveyancing are cheaper and enable you to save money during conveyancing.

How you can save money before the conveyancing process

To maximise your savings for the whole transaction you can start saving from the moment you start the transaction. This applies mostly to buyers who will have to part with a substantial amount to acquire property.

You might want to be extra choosy when selecting a home. Remember that this is a home where you will spend a lot of your time. Homes are also one of the most expensive items you will have to purchase in your life. So when choosing a home to make sure that you go through all the options. Most of the times there is always a cheaper option that is just as good as what you have settled for.

If you are financed by a mortgage lender then you can make modifications on your loan to get lower interest rates. There are options on MakingHomeAffordable.gov that you can use.

You can also refinance your mortgage, a method that has been proven to be cheaper than paying your first mortgage upfront.

Saving Money during the Conveyancing process

As mentioned above it is possible for one to save money during the conveyancing process. Conveyancing does not have to be costly.

1. Online ConveyancingYou can start immediately on conveyancing by using online conveyancing instead of mainstream conveyancing. Online conveyancing is growing rapidly due to its benefits.First with online conveyancing it is possible for one to compare conveyancing quotes online before even engaging with any conveyancing. With an online quote, the conveyancer has to disclose all the costs while in the mainstream the solicitor may conceal some costs until the very last moment. The ability to compare online quotes will ensure that you choose the cheapest conveyance for you inclusive of all the costs to be incurred.

   With online conveyancing, you will also not have to write numerous letters or even visit their offices in public. This will save you a lot of time and money.

2. Fixed FeeFixed fee conveyancing is cheaper than hourly conveyancing. Hourly fees are not only more expensive on their own due to their nature but they also include fees that are concealed. It is therefore always prudent to choose fixed fees over hourly fee conveyancing.There are very many ways to save money during conveyancing. If you are experiencing problems meeting the conveyance fees you can use either of the solutions stated above.
3. Conveyancing Quote AnalysisWhile online conveyancing and fixed fee conveyancing are a good way to save money for moving. You have to analyse every detail on the quote before you agree to instruct a solicitor. As you are not obliged to pay when you get a quote you have to check if the quote will not extend to other expenses. While cheap quotes may misled you to believe that they are cost-effective solutions, some fine prints may allow them to charge you more during the conveyancing process.