Why does conveyancing take months to complete?
South East London conveyancing could be delayed, we, however, seek to minimise their consequences whenever feasible. Common delays may include a slow firm acting for the lender.
the Co-op is going to be our mortgage lender, what do we need to check?
Purchasers should be aware that, recently, a number of lenders have opted to reduce the size of their 'solicitor panel'. Homeward Legal, however, will act for many UK mortgage lenders to ensure that you will not need to pay the lender's legal fees.
Should we order a chancel search if we plan to purchase in the parish of Westminster St Margaret?
Regardless of the South East London parish you are purchasing in, the solicitor may suggest that a chancel search be ordered. In older areas of South East London, chancel repair dues can be collected on the owners of a building where parish councils may have spared previous owners or tenants.
As a result of the fact that 2012 was second wettest year since on record we are asking if environmental searches won't be sufficient?
Flood risk searches applied for by the property lawyer in South East London should also include a far more specialist search (Landmark) if the risk is deemed significant.
If you are concerned why not approach a local resident.
We are buying a £901000 property in South East London, how is stamp duty calculated?
The Stamp Duty that is payable will rely on the valuation. On a £901000 property, stamp duty will be £36040.*
*This information correct as of August 2012
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).