Conveyancing In Willen Q & A's
We ideally need to complete on the legal work on our home in a short time frame, are you especially fast Willen solicitors ?
To be frank, some solicitors are simply ponderous which usually adds huge pressure to moving home.
With Homeward Legal, panel of solicitors will communicate end to end throughout the chain property chain (sequence of buyers and sellers) and use advanced online and IT systems to exchange on your move to your time frame.
What type of due diligence in relation to the potential risk of floods in the Milton Keynes region will the conveyancer in Willen go into detail on a Regency home we intend to purchase?
The property conveyancer makes an application for standard property environmental searches that should include Willen historical flood risk data. Also as an additional measure a solicitor in Willen might advise a more detailed (e.g. Homcheck) in-depth flood risk search.
For fast conveyancing on the purchase of a £625,000 property, what do we need to do?
Crucial to fast Willen conveyancing is to instruct a proactive and experienced solicitor. That said, there are numerous tasks you, as the purchaser, could do to speed up the legal work, such as, encouraging your solicitor to carry out searches promptly, completing all forms as soon as possible and organising your finances, including arranging a mortgage.
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.
What’s the difference between exchange of contracts and completion?
When you exchange contracts, this means that you are agreeing to all the terms drawn up within the contract made between you on one side of the transaction, and the opposite party on the other side. It is from this point that you are legally obliged to go through with the transaction (unless you want to be subject to financial and/or legal penalties).
The completion of contracts is the point where you officially take over ownership of the property, receive the keys and can move in. All monies are transferred between the various parties and the conveyancing solicitor contacts the Land Registry to register the change of ownership to you.
Confused by the jargon in conveyancing? Let Homeward Legal's straightforward and clear service help guide you to as early a completion as possible. Try our online quote generator or call us on 0800 038 6699.
Are the any areas of conservation in Willen likely to affect us?
Areas considered to be of historical merit, like stretches of canals, may be defined as conservation areas. Your property solicitor will advise further and discuss the relevant responsibilities you would be taking on by purchasing in a conservation area.
If I’m renting out rooms in my house, do I need to appoint a solicitor?
No, you don’t, because there is no legal imperative for you to do so. However, it’s not as straightforward as simply leasing out a room to a renter because there are certain provisions that must be met in order to protect you as the renter and the person renting the room.
This depends on the room and where it is in the property, state of the plumbing, insurance, and a number of other factors. You’ll also need to draw up a tenancy agreement to ensure demarcation and rights for both parties. While you won’t necessarily need a solicitor involved, it’s worth contacting a letting agency who will have the experience and knowledge to ensure you have everything in place. Be aware that any advice you seek from professionals may come with a fee, so it would be worth shopping around first.
Should I organize a private purchase of items on the Fixtures and Fittings form?
This would be very unwise as the Fixtures and Fittings Form (TA10) forms part of the contract, and it lists all the items that the seller is planning to leave at the property with an agreed price for anything they want money for.
To try to organise a private sale outside of this clear and controlled process may result in difficulties later on in the process, which is precisely why this form is in place. If you want something to remain that’s not listed on the Fixtures and Fittings Form, raise a query through your solicitor so that negotiations may be formally carried out.
Worried about what your responsibilities are in the legal side of your move? Let Homeward Legal help with their experience and low fixed fees. Call our team now on 0800 038 6699.