Is a survey required when buying a property, irrespective of its condition?
It is advised that you arrange a RICS survey. There can be a range of issues that have a negative impact on a property, such as cracked roof tiles. Such issues will not be considered during the conveyancing work itself.
If there are outstanding works approved in the planning consent, can I still use it?
Generally speaking, planning permission legally has to have an expiry date, which is usually for a period of three years from approval for the building work to start (and not necessarily complete, unless the consent has a suitable caveat).
This means that the consent is against the property and the intended construction rather than the person who made the application. As such, if the planning consent remains within the expiry period, the agreement is transferrable to the new owner of the property.
Your solicitor will be able to provide further advice, once enquiries with the local authority have been satisfactorily completed as part of the conveyancing.
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.
What is the best point to one make arrangements with the removals people?
The ideal way is for buyers to wait before instructing the removals company until such time as you have formally agreed an absolute date which occurs once final contracts are signed. Try Vale Removals & Deliveries, Cambria House/Penarth Rd, Cardiff, CF11 8TW Telephone: 029 2071 0039.
For fast conveyancing to buy a £999,000 residence, how could we speed up our conveyancing process?
Firstly, instructing a proactive lawyer is the key to a fast conveyancing transaction. Additionally, there are numerous tasks you as the buyer can do, including, if you intend to get a house survey, doing so as early as you can, completing all forms as soon as possible and encouraging your lawyer to carry out searches promptly.