Conveyancing In Bowness On Windermere Q & A's
Which local authority is responsible for Bowness On Windermere?
Bowness On Windermere is located in South Lakeland District Council, South Lakeland House, Lowther Street, Kendal, Cumbria, LA9 4UF, contact: 0845 050 4434
What are searches, and how do they differ from a survey?
Searches are a set of enquiries carried out by your surveyor to various authorities such as the local council, HM Land Registry, etc., and focuses on the impact of the local area on your potential enjoyment of living at the property, while a survey (a HomeBuyer Report or Building Survey) is focused on the structural integrity of the home and its permanent outbuildings and constructions.
While each may throw up similar issues (such as missing planning consents or boundary issues), they are very different and achieve very different purposes.
Our solicitors at Homeward Legal are willing and happy to explain anything you don't understand in the conveyancing, because you need to know what you're getting for our competitively-priced fixed fee. Call our team on 0800 038 6699.
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).
I f I read up on handling the legal work as a seller of a home. Would it be sensible to carry out the legal conveyancing process without any help?
Should you desire t use the various books to steer you, you can do the bulk of the conveyancing without the help of a specialist solicitor in Bowness On Windermere .
Of course lawyers would argue this is a dangerous idea as DIY lawyers are taking risks without relevant indemnity insurance which all legal practices are obligated to have.
Should I get my short lease extended before selling?
Buyers are becoming increasingly wary of buying leaseholds with less than 90 years to run because, first, the cost of increasing a leasehold is becoming far more expensive, and, second, mortgage companies are becoming increasingly reticent to lend money to buy leases that have dropped below the 80-year mark (indeed, this will be one of the criteria that they set to ensure their investment is protected).
As a result, buyers will often insist that the leasehold be extended back up to the 99-year or 125-year typical thresholds before going ahead and buying it. So, as the current leaseholder, you will almost certainly be expected to do the legal work required to extend the lease to a level that buyers will be happy with.