When to find a conveyancer?

Connoisseurus_Rex

FTB currently viewing properties. One estate agent has referred me to their in house conveyancing firm as it's "an advantage to be as ready as possible", now I know in this case it's just a way of them making more money. But when should you get a conveyancing firm? The one I spoke to suggested getting it "agreed" now would shave about a month off of the time taken. Even if I went with them now, it's not guaranteed that the lender my MIP is with would work with them right?

canaldumidi

Why wait? The earlier you choose a solicitor the more ready you will be. You don't need to instruct them to do anything till later.

The only proviso is they will need to be on your mortgage lender's Panel if you are getting a mortgage, so if you have not yet decided which lender, then obviously you can't check the firm is on the right panel.

Though larger solicitors firms will be on most lenders' panels.

Avoid using a firm recommended by the other side's estate agent (they are not your EA!).

Tiglet2

The general advice is not to use the 'in-house' solicitor.  The EA will be receiving a referral fee from them and this is all they are interested in. 

A solicitor cannot be 'as ready as possible' until a sale is agreed and the chain complete, because no work can start before that point. 

The only advantage in instructing a solicitor in advance would be to open the file and get your ID and their AML checks sorted in preparation. It won't shave a month off the total time unfortunately.  ID/AML checks can be done alongside other work during the course of the transaction, as long as it doesn't take any longer than the usual 12-16 weeks that conveyancing takes on average of course.  Once that's done, your file will be left until such time as your solicitor receives the draft contract pack on the property you hope to buy, from the solicitor acting for the seller.  

Most solicitor firms will be on the panels of mainstream lenders, though it is wise to check that the solicitor is 'on the panel' of your chosen lender.  If the solicitor is not on the lender's 'panel', the lender will appoint their own solicitor to act for them and your transaction will then involve two solicitors, meaning work will have to be duplicated to the lenders' solicitor.  This will add further time and extra costs to you.