How much is the council tax on a Fifties converted property in Brierley Hill?
In general, the conveyancing report on title should provide the Dudley council tax band. The correct charges for properties in Brierley Hill are set out in detail at the Dudley local authority site. At the time of authoring (19/07/2012) rates are:
- Band A - £848.00
- Band B - £990.00
- Band C - £1,131.00
- Band D - £1,273.00
- Band E - £1,555.00
- Band F - £1,838.00
- Band G - £2,121.00
- Band H - £2,545.00
How can I buy the freehold of the building in which I’m purchasing a flat?
When you buy a leasehold flat (usually for a lease lasting a long time), it means that you don’t own the building or the land on which it is built. If you want to buy the freehold of the building (either yourself or with other flat-owners), you’ll need to meet a few legal criteria before that can happen (such as the number of flats, the purpose to which the majority of the building is put to, and the number of flat-owners willing to by the freehold).
One additional point to note is that the shorter the lease on any flat, the greater the price of the freehold is likely to be.
You should talk to other residents about your plan as well as finding out how much the freehold will be and getting a professional valuation. Once you are in a position to move ahead, you’ll need to appoint a solicitor to manage the legal aspect of the planned purchase.
Homeward Legal's solicitors are well-versed in dealing with all types of freehold and leasehold purchases. So call us now on 0800 038 6699 and we'll guide you through the process and assign you to one of the best solicitors.
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.
The home I’m buying has been empty for two years; what questions should I be asking the solicitor, the estate agent, and the surveyor?
If a home has been empty for a considerable period (such as the two years mentioned here), there’s usually a reason for it. There is estimated to be around a quarter of a million properties in the country that have been empty for more than 6 months.
The primary reason is that the owner hasn’t the funds to renovate the property, or they’ve started gutting the place and run out of money to take it further, or perhaps there’s been a significant problem (e.g. fire or flood are common instances). Most likely, these properties will come up at auction.
Your estate agent will be aware of its history if the property is on their books, so you can find out a lot from them, the council will have an empty property officer, and the Land Registry will have information on the deeds. As far as the solicitor is concerned, they will establish the position on the property as part of the conveyancing, while the surveyor will have experience of checking out such properties, with the advice that you order a Building Survey (the most detailed of the options) to check out its structural integrity. Note that mortgage lenders will be more reluctant to offer a loan on such homes.
Ultimately, the ball is in your court and, if you want to pursue buying such a property, you need to be prepared to do the research, which can take up a lot of time.
The moving process can be bewildering and stressful. Let Homeward Legal look after the legal side of things for you and we'll guide you through the process from start to end. Call 0800 038 6699 to find out more.
Is a PI contribution a disbursement or fee?
A quote will list all disbursements and fees. This cost is a fee not a disbursement, and should be included in a quote.
In what ways does the Brierley Hill property lawyer advise me on the potential risk of a flood in the Brierley Hill area?
A necessary component in the conveyancing procedure carried out when buying a property involves the solicitor making an application for property environmental searches that offer specific information regarding Brierley Hill flood risk area. A significantly more detailed set of searches, such as the Landmark search, may be advised by a property solicitor in Brierley Hill if in the event that the enviro. search show a risk of flooding.
Do I need a chancel search? We are purchasing in Brierley Hill.
Owners of property proximate to a medieval church are expected to fund repairs, as a result of chancel repair liability. As a consequence of a recent Act, interest over any affected land must be registered by October 2013. This will make it easier to identify affected property through a chancel search. Brierley Hill church properties include Brockmoor Hawbush St. Paul and St Michael.