Brexit, some believed, collided with the property market towards the end of 2018 at the same time as new regulations were introduced by the SRA, the Solicitors Regulation Authority and the Council for Licensed Conveyancers. Many, however, have seen the new regulations as an opportunity.
Until now, a first-time buyer, in addition to all the other aspects of home purchase, had to find a solicitor to do the conveyancing. Many estate agents would be only too happy to recommend a firm to handle the sale or purchase as part of their ‘package’ of costs. With the average cost of selling a property in the UK coming in at £1000, the legal costs were significant.
The West Midlands is the most populous region of the UK outside London, and Birmingham has been an important centre of commerce and culture since the Industrial Revolution. The city boasts impressive transport links, including the M5, M6, M40, M42, and the third busiest airport outside London. If the London market is waning in places, it seems like the market in Birmingham is on the up. Conveyancing solicitors in Birmingham are well placed to benefit.
Sales of houses in many areas of the country have been experiencing stagnation, even in areas of London, while the hottest property locations have been further north, as reported by many conveyancing solicitors Birmingham, such as https://www.samconveyancing.co.uk/Conveyancing-Solicitors/Conveyancing-Solicitors-Birmingham.
New Rules
The new regulations have brought about a rise in the number of comparison sites, which can only be of benefit to consumers, as they have been in other services like the insurance industry. Solicitors will now have to post their fees not just for conveyancing but other services such as debt recovery, simple probate and motoring offences. Best practice will involve an online calculator whereby you enter your post code and the house price to instantly see a range of prices.
New Technology
Technology is leading the way in almost everything we do in the consumer-driven world we live in. Every aspect of the conveyancing process will be better, from hand-held communication to transparency of fees, the finance and the purchase and, finally, the actual move. Intelligent forms, secure electronic platforms and systems linking the buyer and seller, the estate agent, mortgage provider, surveyor and conveyance are just around the corner, if they aren’t here already.