Barnsley Building Society is going to be our lender, is there anything we need to consider?
House buyers should be aware that some lenders have reduced the number of firms on their approved panel. This can mean increased legal costs for house purchasers. Homeward Legal are able to act for all large mortgage lenders, ensuring that an additional conveyancer will not be required to act for your lender.
Would you advise taking action to get out of paying for stamp duty in Hereford?
Stamp Duty Land Tax is due on residential property valued at over one hundred and twenty-five thousand pounds. We strongly advise against any stamp duty avoidance. These schemes are highly expensive and HMRC may challenge a scheme up to six years later. There have been a number of government-sponsored schemes, on the other hand, such as relief for buyers in 'disadvantaged areas'.
To complete on our purchase ASAP, can we aim for fast legal work?
Contacting a proactive conveyancing solicitor is key a fast conveyancing transaction. Ask these questions when identifying your conveyancer:
- Was there a delay delivering a quote?
- Do they use email?
- Do they order searches immediately?
Will my Hereford conveyancer conduct official or personal searches on my home purchase?
Your solicitor will make a recommendation as to the most appropriate course of action, depending on things like lender requirements. For personal searches, the property solicitor will consider a local search agent, for instance, PPSEARCHES LLP, The Red House, Eaton Bishop, Hereford, HR2 9QT Tel: 01981 251476.
Will my conveyancing solicitor in Hereford advise me on the risk of floods to properties in Hereford on a Regency property I am intending to buy?
A conveyancer will conduct standard formal conveyancing searches, which include Hereford area flood risk data. In addition the Hereford conveyancer will often advocate a more involved (e.g. Landmark) detailed search.
If I am purchasing near a priory in Hereford, would you advise that we get a chancel search?
Chancel liability repair costs can run into £100,000s, which owners of affected property will be compelled to pay on demand to the Hereford Church council. A chancel search confirms that such a liability exists. Liability is more common in some parts of the country. Your conveyancing solicitor can provide more details. Hereford church properties include St Nicholas, St Peter w St Owen, All Saints and Cathedral.
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.