What causes Bethnal Green property legal work for a purchase to seem to be so slow?
Bethnal Green conveyancing can be obstructed. Homeward Legal understand how frustrating these are and aim to minimise the effect of these delays if it is possible to do so.
How much is stamp duty and land transaction tax?
The Stamp Duty Land Tax (SDLT) is based on a trigger threshold of £125,000, followed by a calculation of increasing percentages against the price bands, which are then added together:
- Less than £125,000 = 0%
- £125,000-£250,000 = 2%
- £250,000-£925,000 = 5%
- £925,000-£1,500,000 = 10%
- More than £1,500,000 = 12%
For example, a house bought for £450,000 will trigger SDLT at £12,500 (£0 for the first £125,000, £2,500 for the next £125,000, and £10,000 for the next £150,000 as the price falls in the first three bands).
We are buying on a Bethnal Green ex-industrial site. Could the soil be contaminated by industrial waste?
With the history of industry in parts of Bethnal Green, soil contamination is difficult to avoid. Also considering issues such as groundwater contaminants like sewage and food-processing waste, contaminants affecting Bethnal Green property will be factored into an environmental search.
There are a lot of books about DIY conveyancing as a seller of a house - Is it a good economy to do the all of the legal work on my own?
Legally speaking there is no argument why a home mover cant adopt a DIY approach and complete the bulk of the legal work without assistance.
However, a conveyancer juggles a large number of tasks such as checking redemption statements and registering the new title owner most of which are more safely handled with appropriate a skilled professional.
Do I need to instruct a property solicitor who often works with by the agent?
Many agents will have referral deals with solicitors where they refer clients to them. However, if the agent is paid a fee by the solicitor, some agents may 'recommend' the firm which pays to the largest referral fee, not the law firm with the best reputation.