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Conveyancing in Loughborough Q & A's

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Ask Lorraine a question lorraine@homewardlegal.co.uk

Updated: 15/10/17

Transport and public service information if you’re buying or selling residential property in Loughborough -

By road: Loughborough is served by the A6, A60 and A512. By rail: The nearest train station is Loughborough. By air: East Midlands Airport is 9 miles from Loughborough.

Hospital: Loughborough, Hospital Way, Loughborough, LE11 5JY. Council: Charnwood Borough Council (www.charnwood.gov.uk).

Attractions: Great Central Railway, Loughborough Carillon, Grace Dieu Priory, Bridge Graffiti Mural, and Watermead Country Park.

Q.

I need to find a low-cost conveyancing estimate, as we are on a tight budget for the purchase of a mid-terrace house in Loughborough.

Unlike many firms, Homeward Legal provides a quote and not an estimate. The other firms tend to have other costs and disbursements hidden in the terms and conditions. Homeward Legal believes that all costs and fees should be clearly laid out, be appropriate and fair.

To this end, this is what we give you when you use our services to obtain a conveyancing quote. Try our quote calculator, or call our team of conveyancing experts on 0800 038 6699 to discuss your needs.

Q.

Our estate agent in Loughborough has told us to use a solicitor he works with for the conveyancing. Are we obliged to use this firm?

No, not at all. An agent can influence a solicitor they refer a large number of clients to, and can therefore potentially reduce delays in the conveyancing process. But such referrals should be considered carefully, as an agent may select the solicitor willing to pay the highest referral fee, rather than a firm with local expertise and a solid reputation.

Q.

We are using a lender based in Leicestershire, and need to know which Loughborough lenders you work with. Which panels are you on?

Of the lenders with offices in and around Loughborough, Homeward Legal works with the majority of them. We can also work on their behalf should they need legal representation during the process of offering you a mortgage, thereby ensuring that you won’t have their legal fees passed on.

Lenders and mortgage specialists in Loughborough include:

  • New Life Financial Planning, 121 Ashby Road, Loughborough, LE11 3AB
  • MY Mortgage, 18 Devonshire Square, Loughborough, LE11 3DT
  • Mortgage Advice Bureau, 7 Swan Street, Loughborough, LE11 5BJ
Q.

Are pre-completion searches disbursements or fees?

For some legal firms, it may not be clear if an itemised charge is a fee or a disbursement. The costs for searches are disbursements and not fees, and this expense is passed on to the buyer at cost.

At Homeward Legal, our straightforward approach to detailing the conveyancing quote makes the distinction completely clear.

Call our skilled conveyancing team on 0800 038 6699 to arrange a fixed-fee quote, backed up by our ‘No Move, No Fee’ guarantee.

Q.

How much is the council tax on a Fifties, detached, Band C property in Loughborough?

You should be given information regarding the house’s council-tax band and the rate charged for the tax year within which the contracts are exchanged. This will all be presented within the conveyancer's title report. The latest tax rates for residents of Loughborough are listed on the Charnwood council website (see the public information section at the head of these FAQs). For the 2016/2017 tax year, the rates are as follows:

  • Band A - £1,036.44
  • Band B - £1,209.18
  • Band C - £1,381.92
  • Band D - £1,554.66
  • Band E - £1,900.15
  • Band F - £2,245.63
  • Band G - £2,591.10
  • Band H - £3,109.32

Retrieved on 21 February 2017

Q.

The purchase of my Loughborough flat is scheduled to complete in the next few weeks. How is the stamp duty on it assessed?

The Stamp Duty Land Tax (SDLT) rate that will be due will depend on the property's value (i.e. the price it was bought for). If your flat was purchased for under £125,000, you will not have to pay any stamp duty. An example of the duty owed would a charge of £2,419 on a property bought for £245,950. 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.

How long can we reasonably expect it to take our assigned conveyancer to finish the legal process for a terraced home in Loughborough that we intend to buy?

It is unfortunate that many home-buyers and -sellers have horror stories about the length of time the conveyancing process takes. It is notoriously slow and a lot of people simply expect that to remain the case for their own purchase or sale. The duration of the conveyancing can be anything from three weeks to three months, with any delays usually being caused by slow responses elsewhere in the chain, or a reliance on traditional but slow communication methods such as letter-writing. With the experienced solicitors at Homeward Legal, every purchase is handled as fast as possible, without compromising on service, using solicitors who are highly proactive in their communication and fact-finding.

We aim to complete the conveyancing work within six weeks.

Call us on 0800 038 6699 to obtain a fixed-fee quote with our ‘No Move, No Fee’ guarantee. Or use the online quote calculator.

Q.

Property environmental searches are all well and good, but, with the recent flooding (e.g. the widespread flooding in Sept 2012 in the East Midlands), are they thorough enough to divulge sufficient information about the Loughborough area flood-risk?

Conveyancing searches (including environmental) are conducted by a lawyer in Loughborough on your behalf. Such a search will assess the historical experience of flooding associated with your property and its environs. If that level of risk is deemed too high, a far more detailed flood search can be ordered, if it is felt to be necessary, for small cost (around £20).

If you remain nervous try to get in touch with a local resident or you could call a regional Leicestershire flood repair expert:

  • Rainbow International, 1 Festival Drive, Loughborough, LE11 5XJ Tel: 01509 215858
Q.

If we are intending to buy in the parish of Frisby on the Wreak, will we need a chancel search?

A.

A Loughborough conveyancing solicitor might recommend a chancel search, irrespective of the parish in which the home being purchased is found. Although some Parochial Church Councils have chosen to exact chancel repairs on the current owners of affected property, it is not possible to be certain that a parish which has not imposed liability will not be so in future. In the event that chancel liability may apply, your solicitor might recommend insurance rather than pulling out of the purchase.

Q.

What can I do to get out of paying SDLT?

A.

Stamp Duty Land Tax is generally due on houses priced at over 125,000 pounds. Stamp duty mitigation should be treated with extreme caution in Loughborough, as such schemes are expensive and , if the scheme fails, you may be charged a penalty of up to 100% of the stamp duty amount owed.

Q.

Bookshops and the web have an abundance of very helpful books about do it yourself conveyancing. Do I have to use Loughborough solicitor ?

A.

It can certainly possible for you to do the legal work yourself. The truth is however that a solicitor is familiar with a large array of assignments such as approving contract and checking that the contract package is in order many of which require experience. Nonetheless solicitors are obliged to have cover that ultimately protects you in the event of failures.

Q.

When I am buying on the same road as a 13th Century priory in Loughborough, do we need to get a chancel search?

A.

In Loughborough, where land was once owned by a lay rectors, new owners of that property may be obliged to contribute towards the cost of repairs to church property in the locality. Parochial Church Councils in Loughborough must register their interest over property by October 2013, simplifying the chancel search process. Church of England properties in the local area include All Saints, Emmanuel, Nanpantan St Mary-in-Charnwood and St Peter.

Q.

Do your panel of solicitors advise on the conveyancing for residential property auction properties in Loughborough?

A.

Our property lawyers frequently act for auction buyers and sellers. We usually suggest auction buyers to select a SRA regulated lawyer prior to the property auction to give enough time for a detailed report of the auction pack. Following the date of the auction your appointed conveyancing lawyer is wholly able to concentrate on speedily finishing the legal work in the usual 28 days as required .

Q.

How much is the council tax on a Fifties detached Band C property in Loughborough?

A.

You should be give information the houses council tax band with the conveyancer's title report. The latest tax rates for residents of Loughborough are listed at the Charnwood council website. On (05 June 2012) rates are as follows:

  • Band A - £977.00
  • Band B - £1,139.00
  • Band C - £1,302.00
  • Band D - £1,465.00
  • Band E - £1,790.00
  • Band F - £2,116.00
  • Band G - £2,442.00
  • Band H - £2,930.00

Q.

Will the fixtures and fittings form list items like a dishwasher?

A.

In the main, fixtures are fixed items, such as door handles to walls, floors or ceilings and cannot be easily removed, whereas fixtures are free-standing items, like aerials and satellite dishes. Completion or agreement of a fixtures and fittings form is unfortunately often left to the last minute, when a dispute may jeopordise the transaction.