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    • eddiejones
    • By eddiejones 6th Aug 18, 4:23 PM
    • 74Posts
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    eddiejones
    Is it surprising that solicitor hasn't heard of LISA?
    • #1
    • 6th Aug 18, 4:23 PM
    Is it surprising that solicitor hasn't heard of LISA? 6th Aug 18 at 4:23 PM
    Hi folks,

    I've had an offer on a flat accepted. And so I'm looking for a solicitor to act for me. I've never had one of these and called a couple of places based on recommendations from the estate agent. I spoke to partners at two firms, who 'specialised' in residential purchases and neither had heard of the LISA. And kept on saying 'do you mean HTB ISA?'

    Should I be worried? Have other people heard of similar? Will it be fairly simple for them to do the necessary when it comes to it?

    Thanks,

    Ed
Page 1
    • Alexland
    • By Alexland 6th Aug 18, 4:36 PM
    • 2,949 Posts
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    Alexland
    • #2
    • 6th Aug 18, 4:36 PM
    • #2
    • 6th Aug 18, 4:36 PM
    If a conveyencer is not motivated enough to keep up to date with such changes in their industry then I would question if you want them to be involved in your property purchase. They should totally know about this by now.

    Alex
    • mije1983
    • By mije1983 6th Aug 18, 4:57 PM
    • 3,543 Posts
    • 20,063 Thanks
    mije1983
    • #3
    • 6th Aug 18, 4:57 PM
    • #3
    • 6th Aug 18, 4:57 PM
    based on recommendations from the estate agent.
    Originally posted by eddiejones

    That's the issue. They will more likely be the ones that give the EA the biggest kick back, rather than being recommended for their reputation!

    • eddiejones
    • By eddiejones 6th Aug 18, 5:03 PM
    • 74 Posts
    • 7 Thanks
    eddiejones
    • #4
    • 6th Aug 18, 5:03 PM
    • #4
    • 6th Aug 18, 5:03 PM
    Yes, makes sense. It's frustrating because they're 300 cheaper than two who have heard of it. I was thinking that what they need to do with regards to the LISA is simple enough that I should just not be worried about it.
    I.e. for Skipton, all they need to do is fill in a form on https://www.skipton.co.uk/mortgages/first-time-buyers/using-your-lifetime-isa ....
    And perhaps given that, I should be willing to save the 300...
    • dunstonh
    • By dunstonh 6th Aug 18, 5:27 PM
    • 93,861 Posts
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    dunstonh
    • #5
    • 6th Aug 18, 5:27 PM
    • #5
    • 6th Aug 18, 5:27 PM
    Hardly anyone would be using a LISA with them yet as you have to have them a year. Given the small number (relatively speaking) that would have a) done at least a year and b) be used by people that are only doing a years worth (most will be doing multiple years), it isnt surprising that they have not seen any.

    You would like to think they should know but most conveyancing is done by a junior clerk or office worker and signed off by the conveyancer.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • eddiejones
    • By eddiejones 6th Aug 18, 5:36 PM
    • 74 Posts
    • 7 Thanks
    eddiejones
    • #6
    • 6th Aug 18, 5:36 PM
    • #6
    • 6th Aug 18, 5:36 PM
    Hardly anyone would be using a LISA with them yet as you have to have them a year. Given the small number (relatively speaking) that would have a) done at least a year and b) be used by people that are only doing a years worth (most will be doing multiple years), it isnt surprising that they have not seen any.

    You would like to think they should know but most conveyancing is done by a junior clerk or office worker and signed off by the conveyancer.
    Originally posted by dunstonh
    Good point, thanks.
    • Alexland
    • By Alexland 6th Aug 18, 7:01 PM
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    Alexland
    • #7
    • 6th Aug 18, 7:01 PM
    • #7
    • 6th Aug 18, 7:01 PM
    Honestly you are better finding a local solicitor who knows their job and has an interest in their industry. I understand that there can be about 40% commission for an estate agent to recommend a helpdesk style conveyencer which doesn't really leave them with enough money to do a proper job.

    Alex
    • mije1983
    • By mije1983 6th Aug 18, 7:34 PM
    • 3,543 Posts
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    mije1983
    • #8
    • 6th Aug 18, 7:34 PM
    • #8
    • 6th Aug 18, 7:34 PM
    Hardly anyone would be using a LISA with them yet as you have to have them a year. Given the small number (relatively speaking) that would have a) done at least a year and b) be used by people that are only doing a years worth (most will be doing multiple years), it isnt surprising that they have not seen any.

    You would like to think they should know but most conveyancing is done by a junior clerk or office worker and signed off by the conveyancer.
    Originally posted by dunstonh

    But there's a big difference between not understanding the process or not had anyone use them (which is what you talk about), and not having heard of a LISA at all, especially as it was a 'partner' that the OP spoke to rather than a junior member of staff.

    For a 'specialist' in residential conveyancing, it's hard to believe they have never heard of a LISA as I would expect them to keep abreast of developments in their field. If it was me, I'd be looking elsewhere for legal representation. If they are unaware of the LISA, I would be wondering what else they are unaware of.
    Last edited by mije1983; 06-08-2018 at 7:36 PM.

    • eddiejones
    • By eddiejones 7th Aug 18, 8:22 AM
    • 74 Posts
    • 7 Thanks
    eddiejones
    • #9
    • 7th Aug 18, 8:22 AM
    • #9
    • 7th Aug 18, 8:22 AM
    Thanks folks. FWIW, I have actually gone with the cheaper option. They seemed pretty nice, were reasonably responsive to emails. And so I've decided that makes up for their lack of knowledge a little. Plus the LISA stuff looks fairly trivial from their side .

    Let's see how it goes!!!!
    • SmlSave
    • By SmlSave 7th Aug 18, 10:38 AM
    • 4,702 Posts
    • 16,541 Thanks
    SmlSave
    Eddiejones, please do check the terms and conditions of the conveyancers you have chosen. 300 cheaper is a lot and you should check that they don't charge for 'extras' on top of that.
    Boy Smllet born 23/06/2011 and Girl Smllet born 01/03/2014

    5 year challenge to pay off 20,000
    350 per month challenge
    • dunstonh
    • By dunstonh 7th Aug 18, 11:03 AM
    • 93,861 Posts
    • 61,622 Thanks
    dunstonh
    I concur with the above.

    Basic conveyancing may only cover the legals in respect of the house purchase and not include searches etc. Make sure you are comparing like for like
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • IanManc
    • By IanManc 7th Aug 18, 11:38 AM
    • 604 Posts
    • 1,048 Thanks
    IanManc
    I concur with the above.

    Basic conveyancing may only cover the legals in respect of the house purchase and not include searches etc. Make sure you are comparing like for like
    Originally posted by dunstonh
    I agree.

    Often cheapo mass volume conveyancers quote the price "plus disbursements" which include search fees etc and run into hundreds of pounds, whereas others who appear more expensive are giving a quote for everything - you might call it an "on the road" price.

    You can't really beat a good high street solicitor with decent local knowledge.

    With conveyancing, as in so much in life, you get what you pay for.

    It always amazes me that people baulk at paying a few hundred to a solicitor to do all the legal work - and insuring you against mistakes - whereas they're quite happy to shovel thousands in the direction of estate agents for doing almost nothing.
    • Wildsound
    • By Wildsound 7th Aug 18, 12:23 PM
    • 141 Posts
    • 76 Thanks
    Wildsound
    Do let us know how you get on. Interesting to hear the experience.
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