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).
Which local authority looks after Bruton?
Bruton is located in South Somerset District Council, Council Offices, Brympton Way, Yeovil, Somerset, BA20 2HT, phone: 01935 462 462
Is it hard to sell a property located in a conservation area?
A conservation area is designated and managed by the local authority to ensure the unique nature of the location is maintained by placing restrictions on changes to the buildings, street furniture and green spaces to protect the architectural or historical interest of everything within the conservation area boundary.
Because of this resistance to change, this usually means homes in conservation areas are more attractive to buyers, and, as such, there may be a premium to pay over properties outside such areas. Because of the attraction of such property, they will usually sell well and quickly. However, there will need to be greater checks by the buyer’s solicitor to verify that your property conforms to the conservation area restrictions, which may add extra time to the duration of the conveyancing.
Homeward Legal's solicitors have a great deal of experience working with sales and purchases in conservation areas, so why not give our team a quick call on 0800 038 6699 right now to find out what we can do to help your plans?
Will you need searches for chancel liability? I am buying in Bruton.
There are fifteen thousand parishes in England and Wales. Property owners within some of these may be required to pay for the repair of a local church. As a consequence of a recent Act, interest over any affected land must be registered by October 2013. A conveyancing solicitor will be able to advise as to whether a chancel search is necessary, and recommend suitable insurance. Churches in Bruton where chancel liability may apply include St Mary the Virgin.
We plan to buy a home in the parish of Theale. Is a chancel search appropriate?
The Bruton conveyancing solicitor could advise a chancel search, whichever parish in which the home being purchased is found. In older areas of Bruton, chancel repair dues can be collected on current owners of a home where parish councils may have spared previous owners or tenants. For property in the parish of Theale, it is not safe to rely on the historical behaviour of the parish council alone as a guide.
In regards to the major flooding in Sept 2012 in South West England we are concerned that flood risk searches might not be thorough enough?
Flood searches carried out by your conveyancing solicitor in Bruton should also include the more in depth Landmark flood search if it is felt necessary.
You could also speak to a local resident for that more assurance.
May our property legal fees have any additional costs?
No. Our solicitors never charge any hidden extra fees. Some websites offer unrealistically low 'quotes' which are in fact estimates, which they will not be required to adhere to.