Is online conveyancing cheaper than using a traditional conveyancing firm?

In today’s digital age, more and more people are turning to online services to fulfil their needs. From online shopping, banking and communication to instructing online conveyancing solicitors, these services are becoming increasingly popular. But is it really cheaper to use online conveyancing than using a traditional firm? Also, can you trust an online service provider who you have ever met to handle one of life’s most previous assets?

To answer this question, we have to look at the cost associated with each approach. Generally speaking, traditional firms tend to charge more for their conveyancing services than their online counterparts. This is usually because of the additional overhead costs associated with running a bricks and mortar business, such as rent, wages and utilities. On the other hand, online conveyancers can pass on savings to their clients thanks to the low overheads associated with running their business online. Apart from this key difference, conveyancing solicitors who operate with an online conveyancing banner are as qualified and regulated as those in a traditional law firm. Therefore, you certainly need to worry about the competency or the standard of work you could expect from an online company.

Another aspect to consider is the amount of time it takes to complete a conveyancing transaction. With traditional firms, you will typically have to wait longer for each step of the process: from viewing the property and submitting your offer, to getting contracts exchanged and even securing a mortgage. On the other hand, many online conveyancing firms are able to complete transactions in a fraction of the time thanks to their automated systems and streamlined processes.

You would be surprised to know that a major factor which causes significant delays in conveyancing transactions tend to be compliance checks on individuals involved in a property transaction. Unlike traditional law firms who will require you to await an appointment to meet your conveyancer, take original identification documents to them for these complete these verification checks, all online conveyancing service providers employ electronic identity verification checks. These checks (dependent on their level of sophistication) enable the required compliance checks to be completed in a number of days as opposed to weeks.

Finally, when it comes to things like customer service and support, there is no clear winner between traditional and online conveyancing firms. It all comes down to personal preference and what type of service you want from your provider. Many online firms offer 24/7 case tracking services meaning you could progress the transaction as a time and phase suitable for you, while traditional firms may be limited in terms of how quickly they can respond to queries or resolve problems.

In conclusion, when it comes down to cost, online conveyancing is usually cheaper than using a traditional firm due to its low overheads and streamlined processes. However, it is important to consider other factors such as personal preferences such as requiring face to face meetings with your conveyancer and what type of service level you require before making a decision on which provider is right for you.