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Transfer of Equity in Clerkenwell

A transfer of equity occurs when a property owner wishes to change the legal ownership of the property. Reasons include marriage, divorce and tax planning.

Homeward Legal's solicitors offer expert legal assistance with your transfer of equity.

Get an instant quote for a transfer of equity in Clerkenwell.

Remortgage Solicitors Clerkenwell

Homeward Legal's panel of solicitors carry out remortgage conveyancing for Clerkenwell clients every week.

We strive to complete your remortgage legal work quickly, so that you benefit from your new mortgage deal as soon as possible.

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The Conveyancing
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Conveyancing in Clerkenwell Q & A's

Profile photo of Lorraine Imhoff

By

Ask Lorraine a question lorraine@homewardlegal.co.uk

Updated: 15/01/17

Clerkenwell attractions and landmarks

Brixton London Windmill, Holborn Lincolns Inn Great Hall Historic Building and Temple Middle Temple Hall Historic Buildingare all around Clerkenwell.

The closest station to Clerkenwell is Farringdon. Clerkenwell's nearest airport is London City Airport. Heathrow Terminals 1 2 3 Airport is 16 miles, London Heliport Airport is 5 miles, Heathrow Terminal 5 Airport is 17 miles, Heathrow Terminal 4 Airport is 16 miles, Northolt Jet Centre Airport is 14 miles, Elstree Airport is 13 miles and London Biggin Hill Airport is 15 miles away.

Commuters are well served with Clerkenwell having good road access within 3m of the A40M.

The closest hospital to Clerkenwell is St Bartholomews London.

Q.

How do I find the cheapest Clerkenwell conveyancing quote?

A.

Many online and high street solicitors claim to offer cheap conveyancing quotes, but extra charges can inflate your solicitor's invoice. Any disbursements should be included on a Clerkenwell conveyancing quote. Our online quote calculator will generate an accurate quote for your transaction.

Q.

When buying a 1930s investment property in the middle of a conservation area, where can I find more details concerning the state of repair?

A.

English Heritage, a government body, now maintain a list of the condition (poor to good) of conservation areas.

Conservation areas in Clerkenwell are specified by the local authority (Camden) who regulate conservation area concerns from what can be demolished to the blockage of street clutter.

Q.

Will it be necessary to get a chancel search if I plan to purchase in the parish of Old Street St Luke, near Clerkenwell?

A.

Your conveyancing solicitor could advise that a chancel search is taken out, irrespective of the parish in which the home being purchased is found. In older areas of Clerkenwell, chancel repair may be apportioned on current owners of a home where

Parochial Church Councils have previously chosen not to do so, so indemnity insurance may be advisable even if liability is unlikely.

Q.

We are buying a £1037000. What will be calculated for Stamp Duty Land Tax rates?

A.

The SDLT payable will depend on the value of the house or flat. On a £1037000 property in Clerkenwell, stamp duty will be £51850.

Q.

How long on average will it take my assigned property solicitor to conduct the legal formalities on a terraced fifties property we are intending to buy?

A.

The process can take anywhere from 1 month to 12 weeks, which can be hampered by a number of issues for example the speed of the vendor's solicitor, or renegotiations.

Homeward Legal's lawyers are exceptionally proactive work towards you moving home as soon as realistically possible.

Q.

Do you recommend that we get a chancel search? I am purchasing close by rectory grounds in Clerkenwell.

A.

Where land in Clerkenwell was once owned by a lay-rector, new owners of that property may be obliged to subsidise repairs to a medieval church. As a result of the Land Registration Act 2002, interest over any affected land in Clerkenwell must be registered by October 2013. This will make it easier to identify affected property through a chancel search. Church properties in Clerkenwell include Holy Redeemer, St James and St Mark's.

Q.

Would you address taking steps to avoid paying for HMRC stamp duty?

A.

SDLT is generally payable for purchases over one hundred and twenty-five thousand pounds. Stamp duty mitigation is not recommended, as such schemes are highly expensive and , if a scheme is challenged, you can be fined up to 100% of the amount owed, in additional to the tax itself. There have been several government initiatives, such as higher thresholds for first-time buyers.

Q.

Is there a risk that our purchase will be gazumped?

A.

This describes when one buyer's offer is, following agreement, later rejected by the property seller and then selecting another purchaser's offer. The danger of getting gazumped is present in any transaction. You should instruct a fast, efficient solicitor early, and even before acceptance of an offer to reduce the chance of your transaction being gazumped.

 
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