Conveyancing hit by VAT rise?

Conveyancing solicitors could find their business is affected by today's (January 4th) VAT rise, as the 2.5 percentage point increase may force some to increase their fees.

A "slow but steady" outlook for the property market in 2011 has been predicted by the Daily Mail, but the publication warns higher taxes could deter Britons from purchasing services related to moving house.

Using conveyancing solicitors can help Britons negotiate the complex issues surrounding such transactions and the legal service might reduce costs in the long run by ensuring smooth transfer of ownership.

And cheap conveyancing could go hand-in-hand with predictions for lower house prices in early 2011, as the Royal Institution of Chartered Surveyors has forecast a decline of up to two per cent.

The body estimated falling supply would prevent values dropping too far, however, so individuals may want to make use of conveyancing services in order to capitalise on current low prices.

Published by Tessa Jones