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Transfer of Equity in Monkseaton

A transfer of equity occurs when a property owner wishes to change the legal ownership of the property. Reasons include marriage, divorce and tax planning.

Homeward Legal's solicitors offer expert legal assistance with your transfer of equity.

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Remortgage Solicitors Monkseaton

Homeward Legal's panel of solicitors carry out remortgage conveyancing for Monkseaton clients every week.

We strive to complete your remortgage legal work quickly, so that you benefit from your new mortgage deal as soon as possible.

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Conveyancing in Monkseaton Q & A's

Profile photo of Clarisa McMahon

By

Ask Clarisa a question hl@syntarsus.co.uk

Updated: 09/12/16

Local area services and health information

The nearest train station to Monkseaton is Cramlington, around 6 miles away and the nearest airport to Monkseaton is Newcastle Airport (10 miles).

Q.

Noted Monkseaton interest

A.

St Mary Lighthouse Lighthouse, Tynemouth Priory and Castle English Heritage and Rising Sun Country Park are near to Monkseaton.

The most convenient hospital for Monkseaton is North Shields, North Tyneside General.

Q.

How do I find affordable conveyancing in Monkseaton?

A.

Both high-street and online solicitors promote so-called 'the cheapest conveyancing', but additional charges can inflate your final bill. Your quote should, in addition, define costs to be paid to third parties, including search providers, (disbursements).

Q.

Is there anything we can do to avoid paying SDLT rates?

A.

Stamp Duty Land Tax is usually payable on property priced at over one hundred and twenty-five thousand pounds. Homeward Legal do not advise conveyancing clients risk any stamp duty avoidance, as such schemes are highly expensive and HMRC may challenge a scheme up to six years later meaning that the full stamp duty amount will then be due. There have been several government-sponsored schemes, on the other hand, such as relief for buyers in 'disadvantaged areas'.

Q.

How long should conveyancing legal work take?

A.

In general, the length of time needed to transact a property does vary, affected by several factors. With our property specialists, every sale is undertaken with the utmost care and speed.

Q.

What kind of scrutiny into the risk of possible flooding in the Tyne And Wear region will a Monkseaton property lawyer examine?

An essential step in the conveyancing protocol involved in buying a home involves your conveyancing lawyer conducting conveyancing searches that set out detail regarding risk of flooding in Monkseaton. In addition a Monkseaton conveyancing solicitor might possibly propose a more involved (e.g. Landmark) specialist flood search. At the time of writing (03/02/13) reports on the Environment Agency don’t reveal any active flood warnings in Monkseaton.

Q.

Bank of Scotland is our mortgage lender - is there anything I need to consider?

A.

Until recently, almost all conveyancing solicitors could act for the large mortgage lenders. Some lenders have reduced the number of firms on their approved panel, potentially creating higher legal costs for buyers. Homeward Legal will act on behalf of the majority of lenders, ensuring that an additional solicitor will not be required to act for your lender.

Q.

We are buying on a ex-industrial use land. Could the soil be contaminated by industrial waste?

A.

Policies are in place to control pollution, waste, water and chemical contamination. The local authority for Monkseaton will be able to provide more detail on cases of contamination.

Q.

How is SDLT calculated in Monkseaton, how much should we pay on a £61000 home?

A.

The rate of stamp duty you must pay will depend on the valuation. On a £61000 house or flat, stamp duty will be £0.

Q.

Flood searches may be fine but in light of recent weather changes such as the extensive flooding in Sept 2012 in North East England are they actually good enough to establish enough about the risk of flooding in Monkseaton?

A.

The solicitor in Monkseaton will consider apply for environmental searches if the standard searches spots a significant risk Monkseaton area flood risk

You can get in touch with a next door neighbour for additional comfort if you are still worried.

 
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