What is stamp duty and land transaction tax?
Stamp Duty Land Tax (SDLT) is a proportion of the final sale price of a property payable to HMRC by the buyer. The current trigger threshold is for any property priced at £125,000 or over (unless you’re a first-time buyer, in which case you pay less or no tax for properties priced at less than £500,000). Your solicitor will handle the transfer of the tax as part of the final tasks on your conveyancing.
In Scotland, buyers have to pay Land and Buildings Transaction Tax and, in Wales, the Land Transaction Tax is triggered at properties priced over £180,000.
In all cases, the amount payable is based on a sliding scale as the price goes up as a proportion of that range added together than an overall flat tax amount or percentage. So, the higher the price goes up, the greater the amount of tax you have to pay.
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.
What do I get for my money from an estate agent?
A good estate agent will be able to bring their local knowledge into your transaction and reduce the amount of stress you might experience as part of the whole moving experience.
Although it might seem that agents do very little for their clients, they will help you set the sale price for your home by using their knowledge of similar properties, a large part will involve marketing your home by expressing it in its best light online and through fliers, phone calls and emails, etc., they will conduct viewings with ay interested potential buyers, manage the negotiations on the offers as they come in and, by law, they will also have to take all necessary steps to ensure the buyer is serious about entering into the contract to purchase the property when an offer is made.
However good you believe your chosen estate agent to be, you should take time to read through the terms and conditions thoroughly to understand what you’re paying them and what you’re going to get for your money.
What can contaminate land in Blackfriars, and should they be an issue?
Several contaminants caused by natural and human-influenced issues may affect land in Blackfriars. Contaminants such as proximity to scrap yards will be detailed in an appropriate search.
What length of time should it take my property solicitor to carry out all of the conveyancing work for a maisonette in a Thirties home we are buying?
It can take anywhere from one month to twelve weeks contingent on a number of factors, for example the efficiency of the vendor's property lawyer, or the turnaround of searches. Homeward Legal's lawyers are exceptionally focused on pushing transactions through, completing the legal process as quickly as realistically possible.
When we are purchasing a Blackfriars house close to parish land, is it recommended that we get a chancel search?
There are fifteen thousand parishes across the UK. Owners of property within some of these may be required to subsidise the repair of a local church. A number of sources are used to identify liability, including maps of Blackfriars's parish boundaries. Blackfriars Church of England properties where chancel liability may apply include St Andrew-by-the-Wardrobe.
Might my conveyancing charges incorporate any extra fees?
Homeward Legal do not hide any hidden extra costs for any reason. Some solicitors' firms will give a low estimate, not an accurate quote, meaning that you could pay much more when you complete.
What can the fees for searches come to?
With Homeward Legal, clients are charged no more than £249 for Blackfriars searches. Searches are paid out to a 3rd party, and will be charged at cost.