When consumers were unaware of how much a solicitor might charge, half assumed that they were an unaffordable option. A new survey has shown that now that prices are easily available to view, only 10 per cent think they are unaffordable.
At the end of 2018, the Solicitors Regulation Authority (SRA) introduced new Transparency Rules in respect of legal costs and services in certain areas of law, including conveyancing, with the aim of making consumers better informed.
The Transparency Rules
In several areas of law, including conveyancing and uncontested probate, solicitors must clearly display their pricing information in an accessible format, in clear English on their website or, in the event that they do not have a website, in a brochure or leaflet.
The information should include the total cost or average or range of costs and the basis of the charges, including any hourly rate or fixed fee. Disbursements should be highlighted along with a note of their cost and it should clearly state whether or not VAT has been included.
An explanation of the services included in the price must be given and if any services which a client might reasonably expect are not included, this must be highlighted.
Information about the key stages and typical timescales should be given and the qualifications and experience of the person carrying out the work and their supervisor should be noted.
The SRA survey results
With the Transparency Rules having been in place for a year, the SRA conducted a survey to investigate consumer perception of the cost of engaging a solicitor.
Before the rules came into effect, half of those questioned had assumed a solicitor would be too expensive. Once they could clearly see what the charges were, only 10 per cent thought they were unaffordable.
Two-thirds said that they actively shopped around online when looking for legal support, while three-quarters felt that the published information had helped them make good choices.
Most were not swayed by price and talked to providers about their service, with 83 per cent basing their final decision on reputation, experience or recommendations.
Why engage a solicitor?
For most people, buying a property is the most expensive purchase they make. It is not just a home; it is also a huge investment for the future.
If mistakes are made during the conveyancing process, the value of a property could end up being substantially affected. For instance, if there are legal complications in respect of the title to the property, it could be very difficult to sell.
By instructing a firm of solicitors to act on your behalf in respect of a house purchase, you can be sure that your representative will have the highest standard of legal training and that they are backed by comprehensive legal insurance.
You will receive a complete service, with all necessary enquiries raised in respect of the property and a full report provided to you. You can assess the costs before you begin the process, and you can be sure that you will receive good quality service from genuine conveyancing experts.
If you would like to speak to one of our property lawyers, ring us on 0333 305 5189 or email us at info@lpropertylawyers.co.uk
