Do you work with many lenders with offices in Prestwich?
Of lenders with local branches around Prestwich, Homeward Legal work with the bulk of them. Prestwich lenders and mortgage specialists include Prestwich Methodist Church, Bury New Rd, Prestwich, Manchester, M25 1AR, Kay Consulting, 39 Bury New Rd, Prestwich, Manchester, M25 9JY, and Parker Mortgage Services, 26 Prestwich Pk Rd South, Prestwich, Manchester, M25 9PE. The solicitor handling your conveyancing transaction can carry out any relevant lender-imposed searches or checks.
How much is stamp duty and land transaction tax?
The Stamp Duty Land Tax (SDLT) is based on a trigger threshold of £125,000, followed by a calculation of increasing percentages against the price bands, which are then added together:
- Less than £125,000 = 0%
- £125,000-£250,000 = 2%
- £250,000-£925,000 = 5%
- £925,000-£1,500,000 = 10%
- More than £1,500,000 = 12%
For example, a house bought for £450,000 will trigger SDLT at £12,500 (£0 for the first £125,000, £2,500 for the next £125,000, and £10,000 for the next £150,000 as the price falls in the first three bands).
Should we choose a firm of solicitors named by my estate agent in Prestwich?
Your Prestwich agent will recommend a conveyancer, however, these referrals must be carefully considered, as some agents choose the conveyancer who pays out the highest referral fee, not a firm with local expertise and a solid reputation.
For a fast conveyancing process on the purchase of a £290,000 home, what do we need to aim for?
Finding a proactive, diligent solicitor is the key to moving faster. There are several things you as the purchaser can also do, such as, promptly answering your solicitor's questions (by email if possible), calling or emailing the solicitor, and chase them if you suspect any delays and arranging your mortgage offer.
Can I hold off paying out for stamp duty to the Revenue?
We strongly advise against any form of stamp duty reduction scheme. These schemes are costly and very risky. There have been a range of legitimate initiatives, however, such as disadvantaged area relief. A conveyancing solicitor should confirm whether you are eligible.
DIY conveyancing without the help of a conveyancing solicitor in Prestwich appears to be becoming possible when buying a house. Would it be viable ?
There are no arguments why a buyer cannot conduct majority of the conveyancing without the help of a trained property solicitor in Prestwich.
That said, a conveyancer in Prestwich typically handles a significant number of roles from such as chasing notices/share certificates and locating planning docs some of which are more safely handled with appropriate a qualified solicitor. Fundamentally have a go conveyancers do not have the applicable cover which all firms and their solicitors are liable to be required to pay for.