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Conveyancing in Isle Of Wight Q & A's

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Ask Lorraine a question lorraine@homewardlegal.co.uk

Updated: 13/10/17

Transport and public service information if you’re buying or selling residential property on the Isle of Wight -

By road: The Isle of Wight is served by the A3020, A3054 and A3055. By rail: The nearest train stations are Haven Street, and Shanklin. By air: Isle of Wight (Sandown) Airport is 13 miles from Cowes, while Southampton Airport is 38 miles (but includes a ferry trip). By sea: The nearest ports are Cowes, Fishbourne, Ryde, Ventnor, and Newport.

Hospital: St. Mary’s, Parkhurst Road, Newport, PO30 5TG. Council: Isle of Wight Council (www.iwight.com).

Attractions: Osborne House, Isle of Wight Zoo, The Needles, Alum Bay, Carisbrooke Castle, and Cowes Maritime Museum.

Q.

Will my quote from Homeward Legal introduce any extra fees throughout the conveyancing process for a purchase on the Isle of Wight?

No. Homeward Legal never hides any extra costs for conveyancing. What you see is what you get with us, which means that you’ll be able to manage the legal bill throughout your move. Try our quote calculator, or call our team of conveyancing experts on 0800 038 6699 to discuss your needs.

Q.

Are there any designated conservation areas on the Isle of Wight?

These areas indicate neighbourhoods of architectural merit or historical significance, and, for the Isle of Wight, Brading, Carisbrooke and Godshill are among the conservation areas that have been established. Living in a conservation area can mean properties are easier to sell, but the restrictions can also make repairs more costly or time-consuming. A property solicitor will confirm potential liability for unauthorised works that might have been carried out at your new house.

Q.

What is the council tax on a period, detached, Band F dwelling on the Isle of Wight?

The Isle of Wight Council is responsible for setting the council tax rates across the island. The latest rates are available on their website (see the public service section at the head of these FAQs for a link). Your conveyancing solicitor will contact the council and determine the band and associated rate that you will have to pay. The charges for the 2016/2017 tax year were:

  • Band A - £1,074.98
  • Band B - £1,254.15
  • Band C - £1,433.31
  • Band D - £1,612.48
  • Band E - £1,970.81
  • Band F - £2,329.15
  • Band G - £2,687.46
  • Band H - £3,224.96

Retrieved on 1 March 2017

Q.

Moving to a house and living on a small island for the first time, should we be concerned about the flooding potential on the Isle of Wight.

Your conveyancing solicitor will initiate a number of standard searches, one of which is the environmental search. This also includes an assessment of the flood-risk on the Isle of Wight. If the results indicate the level of risk to be significant, your solicitor will order a more in-depth, inexpensive (around £20) search.

Q.

Is an environmental search a fee or disbursement?

It is not always obvious whether a charge is a disbursement or fee, particularly with the different technical language used by solicitors. An environmental search charge is a disbursement and not a fee, and is passed on to the buyer at cost. Homeward Legal’s quotes make the distinction between solicitors’ fees and disbursements very clear, so you will be able to manage the legal expenditure during your move. Use our online quote calculator, or call us on 0800 038 6699 for a fixed-fee quote reinforced with our ‘No Move, No Fee’ guarantee.

Q.

The estate agent has told us to use a firm of solicitors in Cowes for the purchase of our flat, but should I feel compelled to appoint this firm?

Both agents and mortgage brokers may recommend a firm of solicitors. However, if they are paid a referral fee, there

is a risk that the agent may suggest the solicitor willing to pay the highest referral fee, and not the most suitable for your needs. Why not try Homeward Legal’s quote calculator or call us on 0800 038 6699 for a fixed-fee quote. We work hard at getting a speedy transaction concluded, without compromising on service.

Q.

How is stamp duty calculated? And what should we budget for a £756,950 residence on the Isle of Wight?

The Stamp Duty Land Tax (SDLT) rate due will depend on what you bought your property for. If your building was purchased for under £125,000, you will not have to pay any stamp duty. But, in the example cited, the duty owed would be £27,848 on a property bought for £756,950. Note that the government’s budgeting and housing policies may change the rate or the trigger value. You might wish to use a stamp duty calculator like the one at www.stampdutycalculator.org.uk.

Q.

I need a mortgage for my mid-terrace house on the Isle of Wight, but which lenders do you work with?

The Homeward Legal partnership has solicitors with great experience of working with all the major lenders approved by the Council of Mortgage Lenders. A number of mortgage specialists operate on the Isle of Wight, including:

  • Thinking Finance UK Ltd., 26 Westhill Road, Ryde, PO33 1LQ
  • Mortgage Force, 11 The Brambles, Apse Heath, Sandown, PO36 0PX
  • Mortgage Helpline, 6 Lincoln Way, Bembridge, PO35 5QL
Q.

How will my conveyancing solicitor in Isle Of Wight advise us on the risk and history of flooding around Isle Of Wight?

A.

A necessary component in the legal process of buying a property involves a conveyancer carrying out environmental searches that provide you with specific information on the subject of Isle Of Wight flooding.

Q.

We are buying on a new development brownfield site. Can the top-soil still be contaminated?

A.

There are regulations in place in order to manage soil contamination. Various bodies hold data on land contaminants affecting Isle Of Wight, including local authorities.

Q.

I would like to know which Isle Of Wight lenders your solicitors work with. Whose panels are you a member of?

A.

Of lenders with local offices in Isle Of Wight, Homeward Legal work beside many. Local mortgage lenders and brokers include Thinking Finance UK Ltd, 26 Westhill Rd, Ryde, PO33 1LQ, Mortgageforce, 41 High St, Wootton Bridge, Ryde, PO33 4LU, and Langham Associates, 9a Glebe Park Avenue, Havant, PO9 3JR.

Q.

Is a building survey a good idea when purchasing a property in Isle Of Wight?

A.

The Royal Institution of Chartered Surveyors strongly advise that you arrange an inspection. A wide range of defects can negatively affect a property, for example cracked roof tiles. These will not be reported on by a solicitor.

Q.

Food risk searches are fine but considering climate change for instance the catastrophic flooding in the UK in April 2012 are they sufficient to identify enough about the evolving Isle Of Wight area flood risk?

A.

Flood searches handled by the solicitor in Isle Of Wight will also include a far more in depth Landmark flood search if the risk is deemed significant.

If you are concerned you might try to contact a neighbour of the property.

Q.

Does the Isle Of Wight conveyancer apply for any property on the Isle of Wight Victorian terraced property I am intending to purchase?

A.

The standard legal protocol will be to get Local Authority, Drainage and Water Search and Environmental, and possibly specific local searches, which might include Chancel Search.

Q.

Is an environmental search a fee or disbursement?

A.

Disbursements and fees should be clearly stated on a quote, with all potential additional costs clearly stated. This charge is a disbursement not a fee, and is passed on at cost.