Conveyancing
Conveyancing is the transfer of the legal of a property from one person to another.
When you buy or sell a property you will instruct a conveyancing solicitor or conveyancer to undertake the legal transfer of the property. Your conveyancer will organise searches, make necessary checks, ensure transfer of funds and organise payment of stamp duty. Most buyers and sellers are eager to get to Exchange (legally binding) and Completion (transaction complete) as they are seen as the key stages of a property sale or purchase. READ MORE >
Searches
Searches are thorough checks done on the property. They typically include environment, drainage and water, HS2 and Land Registry. Searches will highlight any problems that may arise like potential for flooding and major developments in close proximity (e.g. HS2). Although not essential, your conveyancing solicitor will recommend them to safeguard your interests. If your property is mortgaged, the mortgage lender may insist on them. READ MORE >
Stamp Duty SDLT
SDLT or Stamp Duty Land Tax is a tax paid directly to the government in England and Northern Ireland. In Scotland it is known as LBTT Land and Buildings Transaction Tax and in Wales LTT Land Transaction Tax.
It is a complicated calculation based on property value and your status as a buyer. For example as a first time buyer you may be exempt. You solicitor or conveyancer will advise on the sum to be paid.
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