I am on a deadline and will need to arrange fast conveyancing, what can we do to accelerate the transaction?
The key to a fast conveyancing transaction is to employing a proactive, diligent solicitor. You should consider:
- Do they offer 'instant' online quotes?
- What methods of communication do they use? Posting documents can adds days of waiting to a purchase.
- Will they work on a 'no sale, no fee' basis?
Is a survey advisable when we are buying a home?
Homeward Legal recommend that buyers instruct a surveyor to carry out a survey. Numerous concerns can negatively affect a property. These can include poor drainage.
For the purchase, my mortgage lender, we have chosen Bradford and Bingley - is there anything we need to consider?
Over the last two years, some lenders are now reducing the size of their 'solicitor panel', which may result in greater conveyancing costs for buyers. Homeward Legal can act for the majority of mortgage lenders so that the buyer will not have to pay the lender's legal fees.
How long does it take to move house?
Those new to buying property are often surprised by how long the process can take from start to finish. There are several factors that come into play when determining how long your transaction will take from having your offer accepted to moving into your new home: The number of people involved in the chain (the shorter it is, the easier to manage and therefore shorter in duration potentially), problems with one or more buyers in the chain getting a mortgage offer, communication, management and many others.
The greatest time that needs to be set aside is for the conveyancing, which is the complex legal process of transferring ownership of the property from seller to buyer, replicated along the entire chain. Typically, the conveyancing can take an average of between eight and twelve weeks to complete, so, in reality, you should be thinking in terms of months.
However, if you appoint a results-focused and proactive solicitor, who will do everything possible to reduce the length of time, including talking to everyone involved in the chain, pushing for swift return of forms and documentation, and using modern technology to drive the process forward, you will stand a better chance of the conveyancing being a lot shorter. And the earlier you appoint them, the quicker they can get started on your transaction.
Looking for great conveyancing where our solicitors work hard to deliver your completion as early as possible? Call Homeward Legal on 0800 038 6699 to find out how low our fees are.
A right of way on the property I’m buying is redundant, but how do I get it removed from the deeds and registry?
A right of way through the grounds of a property is probably an inheritance before other building in the vicinity occurred that has since made the passage through redundant.
But, while having the right of way registered with the deeds means that feasibly someone could insist that they use it (as their public right), but, if they can’t access where the right of way originally led, it makes it a pointless activity.
It’s so unlikely that anyone will want to do this that you have to weigh up the cost of the legal process to get the right of way officially removed against not proceeding. However, if you are at all worried, talk to your solicitor so that it can be investigated further as part of the conveyancing, at which point they can guide you on the appropriate action and the associated costs (this will be in addition to the standard fees for the conveyancing and your solicitor will advise of this additional cost).
Homeward Legal's solicitors provide transparent quotes, detailing what is included in the fees and disbursements and will help with estimates for additional legal work. So, now is the best time to get your conveyancing under way on 0800 038 6699.
In what ways does a solicitor in Adwick le Street report on the risk of local flooding to properties in Adwick le Street?
A crucial part of the legal due diligence procedure involves your solicitor carrying out conveyancing and environmental searches that give specific information about the potential Adwick le Street flood risk area data. As an additional measure means that the property lawyer in Adwick le Street may suggest a more detailed specialist local Adwick le Street area flood search.
How does a Help to Buy scheme work for me?
This government-sponsored scheme aims to assist homebuyers with three ways of purchasing a property:
- Help to Buy ISA - if you are a first-time buyer and don’t own any other property (anywhere in the world), and you don’t have another cash ISA opened in the same tax year, when you buy your first home, the solicitor will apply for the government bonus on your behalf when closure of your Home to Buy ISA used to buy the property is confirmed.
- Help to Buy: Equity Loan - if you have no other property and are buying a newly-built home, the government will provide 20% of the cost of the house (up to a maximum of £600,000), leaving you with the saved 5% deposit and a 75% mortgage to cover the remainder. This is open to current homeowners and first-time buyers, and the home cannot be sublet nor can it be used in a part-exchange deal.
- Help to Buy: Shared Ownership - if your household earns less than £80,000, you could be eligible for this scheme, which allows you to buy between 25% and 75% of the home’s value, while the government pays the remainder on which you would then pay rent.
(information retrieved from HM Government’s Help to Buy website on 16 April 2019).
Contact the Money Advice Service, the government’s Help to Buy website, or your local ‘Help to Buy’ agent for more information.
What do we need to calculate SDLT, how much should it be on a £589000 residence?
Stamp Duty Land Tax in Adwick le Street will depend on the house's value. On a £589000 house or flat, stamp duty will be £23560.*
*Correct November 2012