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Conveyancing in Loughborough Q & A's

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Ask Lorraine a question lorraine@homewardlegal.co.uk

Updated: 19/07/17

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.

Which local authority is responsible for Loughborough?

A.

Loughborough is located in Charnwood Borough Council, Council Offices, Southfields Road, Loughborough, LE11 2TN, contact: 01509 263 151

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.

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

A.

Of lenders with offices near Loughborough, Homeward Legal work with the majority. Lenders and mortgage specialists in Loughborough include New Life, 121 Ashby Rd, Loughborough, LE11 3AB, M Y, 18 Devonshire Sq, Loughborough, LE11 3DT, and Mortgage Advice Bureau, 7 Swan St, Loughborough, LE11 5BJ.

Q.

Our estate agent has named the conveyancing. Do we need to use this firm?

A.

An agent can influence a solicitor they refer a large number of clients to, and can therefore to reduce delays in the conveyancing process. Such referrals should be considered carefully, as an agent may select the solicitor willing to pay the highest referral fee, not a firm with local expertise and a solid reputation.

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.

Property environmental searches may be all well and good but with recent flooding e g the widespread flooding in Sept 2012 in the East Midlands are they comfort enough to investigate sufficient information about the Loughborough flood risk area?

A.

Conveyancing searches (environmental) conducted by a lawyer in Loughborough will also include a far more detailed flood search if it is felt necessary.

If you remain nervous try to get in touch with a local resident or regional Leicestershire flood repair expert - try: Rainbow International, 3 Festival Dr, Loughborough, LE11 5XJ Tel: 01509 237743.

Q.

My partner and I are purchasing in Loughborough, and need to know if there are many areas of conservation.

A.

Conservation areas classify streets and neighbourhoods of historical merit. Your property solicitor will advise further.

 
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