You are just about to graduate from law school and are starting to think about which way to steer your first steps in your career. You feel that a strictly legal job is not quite what you would like to do, but at the same time you do not know where you can use the knowledge you have gained. Maybe it is high time to develop an interest in… the real estate market? Investing in residential property is very often a loan that is repaid for most of your life. There is also a lot of paperwork, documents, rules and regulations. Many buyers will need expert and knowledgeable support. Can you already see the potential? Don’t hesitate any longer and start your career as a Licensed Conveyancer!
Licensed conveyancer – what is the profession?
Those working as a Licensed Conveyancer are specialists in property law who deal with the formalities of buying, selling and letting houses, flats, business premises and land in England and Wales on behalf of clients. It will be up to you to deal with legal, administrative, financial issues and enquiries relating to property and land investments. What will you be doing exactly? Your responsibilities will include:
-direct contact with clients and decision-makers in transactions handling formalities by visiting the relevant offices and sending the relevant documents via a virtual management system;
-protection of clients’ interests, including advice on the content of documents and their financial consequences;
-provision of cost estimates
-obtaining and checking land registry documents and title deeds; -processing and verifying land registry and title deeds;
-drafting and verification of sales contracts; -advising on the terms and conditions of the transaction;
-agreeing on the terms of the transaction with the other party’s intermediary;
-creating statements of legal and financial documents;
-managing the financial side of the transaction, including the exchange of documents and final closing;
-in the case of a leasehold property, obtaining the landlord’s consent to sell or change the mortgage, the distribution of rent and service charges.
In terms of the buying and selling process itself, you will be responsible for:
-conducting and checking the pre-contract status of the property in terms of debts, leases, easements, mortgages, land taxes, location and identifying hazards, such as whether it is in a floodplain and others;
-checking and managing mortgage dispositions and related liabilities;
-management of mortgage funds;
-paying stamp taxes and registering the client and lender with the Land Registry.
As you can see, the profession of Licensed Conveyancer is a very responsible job, which implies taking care of all land and property transactions and formalities. It requires adequate knowledge and experience in fulfilling all the necessary requirements for the conclusion of a proper purchase and sale agreement. That is why it is such a highly sought-after position on the market.
Qualifications needed for the position of Licensed Conveyancer
Anyone can actually work as a Licensed Conveyancer after passing the relevant qualifying courses. There is only one condition – you must not have a record or conviction for any crime! Those who have graduated from one of the following courses are more likely to succeed in this profession.
This is the job for you if you have graduated in:
accounting and finance;
business and management;
land, property or real estate management;
law or legal studies;
To work as a Licensed Conveyancer in England and Wales, you will need to pass the Council for Licensed Conveyancers (CLC) qualification.
To do so, you must:
-register as a student at the CLC;
-attend 1,200 hours of practical training, usually in the form of work with, for example, a solicitor or notary public;
-pass the CLC examinations at level 4 and 6.
-CLC training and examinations can be taken by those who have passed GCSE qualifications and apprenticeships.
Who needs people in the Licensed Conveyancer position?
Many employers want Licensed Conveyancers to handle their transactions as this gives clients a guarantee of properly executed investments. Of course, you can start your career as a Licensed Conveyancer in a property law firm, but you can also work in other organisations such as banks, building societies, housing associations, local authorities – particularly in corporate services, planning or legal departments or property developers
Earnings of a Licensed Conveyancer
Earnings for trainees and entry-level Licensed Conveyancer positions range from £16,000 to £24,000 per annum. With additional qualifications and around three years’ experience, salaries can range from £25,000 to £50,000. Those in management positions can expect to earn between £35,000 and £55,000, with the possibility of reaching as much as £60,000 or more as a partner or owner of a conveyancing firm. Land, flats and houses have always been profitable investments and excellent ways to invest capital. Therefore, buying, selling and renting property is a very stable market and this area of law will always be a desirable service among potential clients. If you are looking for a stable, well-paid and rewarding job, working as a Licensed Conveyancer will be the ideal career path for you.