‘No Completion, No Fee’ Conveyancing
As a conveyancing solicitor, where is my motivation with the above scheme? Where is my reward for all the hours I put in to helping my client to move, only to find out that it aborts at some stage, and my time is not going to be paid for?
“Well I am not going to plough much effort into working hard if that is going to happen.”
That can be the reality. So what might appear to be a cost saver for the client can actually lead to very poor service, with less care and attention than the client would prefer.
Moving home is stressful enough, but add a slow, inefficient conveyancer into the mix – and one you are paying – and that can put anyone off moving.
But the scheme has more workable variations. Indeed, conveyancing solicitors know that moving home is not cheap. Conveyancers themselves already offer a surprisingly cheap service, when compared to the fee of every other business involved in moving home. A lower fee than house removals, mortgage advisers, estate agents, surveyors and yet solicitors can work for weeks if not months, and can cost the client £000s with the smallest of mistakes.
So some conveyancers strike a balance between charging quite rightly for their time to help their client, and offering some sort of protection against abortive fees. No one likes paying for something that they have not acquired.
Some firms may offer abortive fee 'insurance' you can purchase, or they suggest it is free but it is buried in higher charges, some may offer the scheme provided you are prepared to pay a higher legal fee if it does not, and others – well they get paid whatever happens, and arguably, whether they are slow or prompt conveyancers – it can matter not as they still get paid.