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Transfer of Equity in The Park

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 The Park

Homeward Legal's panel of solicitors carry out remortgage conveyancing for The Park 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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The Conveyancing
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Conveyancing in The Park Q & A's

Profile photo of Clarisa McMahon

By

Ask Clarisa a question hl@syntarsus.co.uk

Updated: 11/01/17

Collingham station is approximately 3 miles from The Park. The closest airport to The Park is Gamston Airport (12 miles). Tollerton Airport is 19 miles and away.

Newark is a nearby hospital.

Q.

We need to find the cheapest conveyancing solicitors in The Park. What do we need to check for?

A.

The lack of clarity surrounding this point catches out many homeowners, and can leave them paying far more in conveyancing fees than they budgeted, and many firms claim to offer 'the cheapest conveyancing quotes', however extra costs will be included in the solicitor's terms of engagement. Excited homeowners, eager to get underway, often ignore this small print when they instruct. Your The Park conveyancing quote should, in addition, define any disbursements. Extras listed in the solicitor's terms ought to be clearly defined. They only apply in cases where the lawyer must perform additional tasks for you, which could not be anticipated at the start of the process. Homeward Legal quotes offer a clear statement of your legal fees for a standard conveyancing transaction.

Q.

What investigation concerning the potential risk of floods in the Nottinghamshire area will the conveyancing solicitor in The Park look into for a residential house we are going to buy?

A.

An experienced residential property lawyer will apply for formal conveyancing searches that will include The Park flood risk area data information. A substantially more thorough flood search (most likely a Landmark Database search) may be proposed by your property lawyer in The Park, if in the event that the environmental search identify flood risk to the property. The most recent (23/02/13) publication on the UK Environment Agency do not reveal any flood warnings in the The Park area.

Q.

If we are buying in The Park on the same road as a rectory, do you need to get a search for chancel liability?

A.

Property owners in an area near a medieval church are expected to fund repairs, as a result of chancel repair liability. Parochial Church Councils in The Park must register their interest over property by October 2013, simplifying the chancel search process. A conveyancing lawyer will be able to advise further.

Q.

How do I avoid paying SDLT?

A.

SDLT commonly must be paid on houses sold for over £125,000. Homeward Legal do not advise clients get involved with any stamp duty avoidance, 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. There have been a range of official schemes, however, such as relief for buyers in 'disadvantaged areas'.

Q.

When in the process do we need to find a conveyancing solicitor?

A.

Whether you are buying or selling in The Park, as soon as possible, as the legal work can commence very early in the process. A number of sources recommend postponing instruction until an offer has been firmly agreed, but delays can risk the other side pulling out, particularly in uncertain market conditions.

Q.

We are buying on a brownfield site. Is the soil likely to be contaminated by waste minerals like tin (Sn)?

A.

Extensive measures are taken on a national level to resolve soil contamination. Metal contamination of soil in The Park is more likely to occur near ex-industrial or waste handling sites. Data on other contaminants, like groundwater contaminants like landfill leachate and disinfection by-products, will also be included in an environmental search.

Q.

How much can our searches be?

A.

Conveyancing searches in The Park ranges in cost. These searches are charged at cost.

Q.

For a fast completion on the purchase of a £855,000 house, what should we get to speed up our conveyancing process?

A.

Finding a proactive, diligent solicitor is essential to fast conveyancing. There are several things you, as the purchaser, can also do to get moving sooner, such as, encouraging your solicitor to carry out searches promptly, answering any queries raised by your solicitor as soon as possible and getting your mortgage offer in place.

 
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