Will we have to pay for Stamp Duty Land Tax on our Leicester home?
Stamp Duty Land Tax has to be paid for any property valued at over £125,000. The amount will be based on the value of your property, going up in bands, which can be seen on the HMRC website. While HMRC previously offered buyer tax relief schemes, these were ended in 2013.
How will my Leicester solicitor find out if my property is at risk of flooding?
A critical component of the conveyancing procedure involves your conveyancing solicitor conducting property conveyancing searches.
These important searches will include inquiries into the status of nearby water and drainage sources, as well as details of the historical flood risk in Leicester.
Read our detailed article on flood searches to learn more.
If you are buying in Leicester, do you need to get a Chancel Liability Search?
Chancel Liability repair costs can run into £100,000s, which owners of affected properties will be compelled to pay to the Leicester Church council on demand. A Chancel Repair search will confirm whether liability for Leicester properties is likely to exist. Church of England properties in the local area which may give rise to chancel liability include St Peter’s, Knighton St John the Baptist, The Holy Apostles and Braunstone St Peter.
Is vanadium soil contamination an issue in Leicester?
Steps are taken across Leicester and the surrounding region to identify any existing soil contamination. An Environmental Search will factor contaminants in, including metals and others such as chlorinated solvents and water contaminants such as bleach. This information will help you to make an informed decision on the purchase of your property.
The home I’m buying has been empty for two years; what questions should I be asking the solicitor, the estate agent, and the surveyor?
If a home has been empty for a considerable period (such as the two years mentioned here), there’s usually a reason for it. There is estimated to be around a quarter of a million properties in the country that have been empty for more than 6 months.
The primary reason is that the owner hasn’t the funds to renovate the property, or they’ve started gutting the place and run out of money to take it further, or perhaps there’s been a significant problem (e.g. fire or flood are common instances). Most likely, these properties will come up at auction.
Your estate agent will be aware of its history if the property is on their books, so you can find out a lot from them, the council will have an empty property officer, and the Land Registry will have information on the deeds. As far as the solicitor is concerned, they will establish the position on the property as part of the conveyancing, while the surveyor will have experience of checking out such properties, with the advice that you order a Building Survey (the most detailed of the options) to check out its structural integrity. Note that mortgage lenders will be more reluctant to offer a loan on such homes.
Ultimately, the ball is in your court and, if you want to pursue buying such a property, you need to be prepared to do the research, which can take up a lot of time.
The moving process can be bewildering and stressful. Let Homeward Legal look after the legal side of things for you and we'll guide you through the process from start to end. Call 0800 038 6699 to find out more.
What’s the difference between exchange of contracts and completion?
When you exchange contracts, this means that you are agreeing to all the terms drawn up within the contract made between you on one side of the transaction, and the opposite party on the other side. It is from this point that you are legally obliged to go through with the transaction (unless you want to be subject to financial and/or legal penalties).
The completion of contracts is the point where you officially take over ownership of the property, receive the keys and can move in. All monies are transferred between the various parties and the conveyancing solicitor contacts the Land Registry to register the change of ownership to you.
Confused by the jargon in conveyancing? Let Homeward Legal's straightforward and clear service help guide you to as early a completion as possible. Try our online quote generator or call us on 0800 038 6699.
Do you appoint reliable solicitors who look after the conveyancing for residential auction properties in Leicester?
Yes - Our firm do frequently receive instructions from buyers and sellers who want to auction their properties.
We have worked with some of the country’s top auction houses including including Auction House London, Acuitus, Allsop (Commercial), Allsop (Residential), Award Property, Brendons Auctioneers, Barnett Ross, Countrywide Property Auctions, and Drivers and Norris.
Most lawyers will usually advise bidders to appoint an auction-experienced lawyer far in advance of the actual auction, so they have access to a detailed review of the property in good time. Following the auction, your personal lawyer will make preparations for the transaction to conclude within 28 days, as typically required by the conditions of sale.
I am buying in Leicester, and have had a quote from you. Are there any extra costs?
Homeward Legal do not charge any additional charges for conveyancing in Leicester. Know that some firms only provide estimates disguised as quotes. The bill you receive on completion can be much greater.