Please give reasons why the purchase conveyancing process in Westbury Park goes on for so long?
The conveyancing process will sometimes potentially be delayed, we, however, seek to minimise the cost of these delays by driving the transaction forward. Common delays can include waiting for a mortgage offer.
Can you recommend how to defer paying stamp duty in Westbury Park?
SDLT commonly must be paid on property sold for more than one hundred and twenty-five thousand pounds. Stamp duty reduction should be treated with extreme caution, as such schemes are costly and very risky. There have been a number of official schemes, however, such as higher thresholds for first-time buyers, and your solicitor will advise if these may apply.
What are the benefits of an online solicitor against a high street firm?
Many commentators and bloggers have suggested that you get so much more from online conveyancers because they have access to state-of-the-art applications to manage their cases and use the latest communication technology.
However, there is nothing stopping high street conveyancing firms from adopting such technology. And they will have a wealth of experience and knowledge of the local area that they can bring to bear on your transaction.
It all comes down to what they offer and how they go about their business. You should get a selection of quotes and read through the terms and conditions in detail to understand the comparisons between what they offer and how much they are going to charge you for the service.
If you choose Homeward Legal, you not only get an experienced proactive solicitor but also access to the latest technology and local knowledge. Call us now on 0800 038 6699 to find out more.
What is stamp duty and land transaction tax?
Stamp Duty Land Tax (SDLT) is a proportion of the final sale price of a property payable to HMRC by the buyer. The current trigger threshold is for any property priced at £125,000 or over (unless you’re a first-time buyer, in which case you pay less or no tax for properties priced at less than £500,000). Your solicitor will handle the transfer of the tax as part of the final tasks on your conveyancing.
In Scotland, buyers have to pay Land and Buildings Transaction Tax and, in Wales, the Land Transaction Tax is triggered at properties priced over £180,000.
In all cases, the amount payable is based on a sliding scale as the price goes up as a proportion of that range added together than an overall flat tax amount or percentage. So, the higher the price goes up, the greater the amount of tax you have to pay.
The estate agent has suggested a lawyer. Will it be easier to instruct this firm?
Your agent will suggest a solicitors firm, however, such referrals must be carefully considered, as an agent may decide to recommend the conveyancer who pays out the highest referral fee, not the most appropriate choice.