No Move, No Fee Truro Conveyancing Solicitors
Are you are buying or selling your home, and need Conveyancing Solicitors in Truro? Find out how to get the best No Move, No Fee conveyancing for your Truro move.
Conveyancing - Buying a property in Truro
Caveat emptor (buyer beware), was the legal principle of English property law. The 2008 Consumer Protection Against Unfair Trading Regulations (CPRs) have effectively abolished this rule, however, and it remains the duty of a buyer's legal representative to carry out due diligence on a planned purchase.
A Truro conveyancing solicitor will give advice once their enquiries are complete, make practical suggestions and register the title in the new owner's name.
The content below examines those parts of the legal process for conveyancing solicitors in Truro that necessitate specialised skills.
- Conveyancing solicitors in Falmouth
- Conveyancing solicitors in Newquay
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- Conveyancing solicitors in Cornwall
Your Truro conveyancing solicitor must be lender-approved
Property purchasers may choose from many mortgage lenders, from a financial institution like the Dudley Building Society, to a major lender such as RBS. Before you select a Truro conveyancing solicitor, whoever you choose, it is very important that you make sure that they can act for your lender.
Your lawyer may be unable to act for your lender, because some lenders will only work with a restricted group of law firms that meet strict selection criteria.
In this case, the lender will require a different solicitor firm to act in their interests, and you will be expected to pay this alternative lawyer's fees. The additional work can mean the process takes much longer.
Quittance Conveyancing are approved members of all lender panels.
- Lloyds Bank
- Barclays Bank
- HSBC Bank
- The Royal Bank of Scotland
- Santander Bank
- Nationwide Building Society
- Halifax Bank
- All UK lenders
Residential Property Searches (Cornwall Council)
Property searches are questions asked of various bodies by Truro conveyancing solicitors to help uncover relevant information about the property being purchased. They include:
|Local Authority (LA) search||contains information about the property and surrounding area held by Cornwall Council|
|Drainage & Water search||confirms who is responsible for the upkeep of the water pipes and drainage that serve the property.|
|Environmental search||identifies nearby landfill and contaminated land sites (within 500 metres), and if there has been any historic flooding or mining subsidence.|
|Chancel repair liability||describes the insurance to protect against any liability to the local parish for repairs.|
Additional searches, such as a Crossrail search or an agricultural search, may also be advised subject to the outcome of the initial searches.
The typical lead time for property searches delivered by Cornwall Council is 8 weeks, so personal (as opposed to official) searches will be faster.
Checking planning status
Official Entries will also be sourced from the Land Registry by the conveyancing solicitor acting for the purchaser, helping to evidence planning issues. Examples of these include a restrictive covenant against certain alterations or outbuildings missing from the title plan.
Cornwall Council Council Tax
Council tax is calculated by Cornwall Council on property value and the number of people living in the property. The occupier of a property in Valuation Band D, for example, would owe annual council tax of £1,772.
Conveyancing solicitors in Truro will inform a purchaser of the property's tax band once they are made aware.
If the property is unoccupied for 2 years or more, an additional premium of 50% may be applied to the council tax. Single person discount reduces the tax due to 75% which would equal £1,329.
Other discounts and exemptions may also apply, for example where the home is empty or unfurnished for a maximum of 60 days or if the property is occupied by someone who is seriously mentally impaired. A new property is assessed by the Valuation Office Agency and allocated a council tax banding.
|Band||Cornwall Council Tax (2018)|
Could I be overpaying council tax?
To challenge your banding contact:
Valuation Office Agency
The Valuation Office Agency should reassess a property's band on request. Councils prefer that this be done within six months of buying a property.
Stamp Duty on Truro properties
When purchasing a home, SDLT will probably need to be paid if the property is valued at over £125,000.
Quittance Conveyancing will complete the SDLT1 form for you at the point your purchase completes.
The following table illustrates SDLT examples for average properties in Truro:
|Average selling price (2017)||SDLT|
|Average price (detached)||£397,962||£9,898.10|
|Average new build||£274,054||£3,702.70|
Following a change in April 2016, a surcharge of 3% is applied for purchases of additional property. For example, if a homeowner bought a second home in Truro for the average price of £307,006 the SDLT would be £24,560.48.
Stamp duty relief for first-time buyers in Truro
Since the budget announcement in 2017, if you are a first-time buyer, you only pay stamp duty on property valued at over £300,000 with reduced rates up to £500,000.
Truro conveyancing solicitors will confirm an accurate calculation is made.
Buying a flat? Leasehold conveyancing in Truro
The risks associated with buying a leasehold flat in the UK are well publicised. Increasing ground rents, unreasonable lease extension premiums and unfair developer practices are but a few of the many traps lying in wait for an uninformed purchaser.
If you intend to buy a house or flat with a lease, a experienced conveyancing solicitor in Truro will address aspects of leasehold, including service charge records from the last three years, sinking funds and dealing with freeholders.
Our leasehold conveyancing solicitors will make sure that you are fully-informed regarding your decision to buy a leasehold property.
Buying a 'New Build' property in Truro?
The average price for Truro new build property is £61,400, based on data from the Land Registry. 5 brand new properties have been bought in Truro in 2018 so far.
A new-build conveyancing solicitor in Truro must be familiar with Truro-specific factors and the added complexities of new build, like checking planning conditions have been fulfilled and advising on mortgage offer flexibility for delayed completion.
Quittance Conveyancing deliver an impartial appraisal of the legal title of the house or apartment, scrutinising contract factors like problematic leasehold terms and an assessment of other risks, such as regional infrastructure plans (e.g. HS2).
Cornwall Conservation areas
Whether you are planning to buy a character cottage or a Victorian terraced house, if the property is in a defined conservation area, your plans to develop the property might not be accepted by Cornwall Council.
Called Article 4 directions, these constraints could include possible restrictions on solar panel positioning, restrictions on the addition of cladding or restrictions on side or 2 storey extensions.
If a property is in breach, the local planning authority can instruct the owner to 'undo' the recent changes, even if the previous owner was responsible for the changes.
Your conveyancing solicitor will address whether your planned purchase is located one of Truro's conservation areas.Back to top
Truro conveyancing solicitor fees and costs
No Move, No Fee conveyancing in Truro
Conveyancing solicitor fees are the costs you pay conveyancing solicitors in Truro for the legal work involved in moving home.
How are Truro conveyancing fees calculated?
Some conveyancing solicitors in Truro carry out the legal work on a price per hour basis, whereas others work on a fixed fee (or 'No Move, No Fee'). Our solicitors work on fixed legal fees (known as 'No Sale, No Fee' or 'No Move, No Fee'), with no hidden extras. Your quote will explain what you will pay when your sale or purchase goes through.
What are disbursements?
In addition to the legal fees you will also have to cover any 'disbursements'.
Disbursements are the third-party costs that your conveyancer will pass on to you at the end of the conveyancing process. These include costs like bankruptcy searches or leasehold information packs.
How much will the total Truro solicitor conveyancing fees be?
Though conveyancing fees in Truro will be the same as anywhere else in the UK, there can be variation in the disbursements required. For example, additional region-specific searches, e.g. utilities searches, may be needed and Local Authority Search fees can vary.
For a standard conveyancing transaction, the conveyancing fee we quote is the fee you pay. With Quittance, there are no hidden fees or nasty surprises. To calculate the conveyancing fees for your move, try our conveyancing fees quote calculator: Click here
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Conveyancing - Selling a property in Truro
The legal work involved in a property sale is normally less troublesome than when purchasing. For a house purchase, the responsibility is on the buyer to make sure that the house or flat is legally sound.
On the other side of the transaction, conveyancing solicitors in Truro acting for the vendor effectively just answer the buyer's solicitor's questions.
What can sellers do to help your sale go through?
Homes will often come with legal issues (such as restrictive covenants or a complex 'Green Deal') which may slow or frustrate the sale process.
Property experts usually advise that vendors face such issues head on and fix them.
- The Essential Conveyancing Guide for Sellers in 2018
- Selling a Green Deal property? What you need to know
- Dispute with a neighbour? What to do before selling your home
For more conveyancing advice for sellers click here.
The legal work for a leasehold property is significantly more involved compared to a freehold house.
Truro conveyancing solicitors will also carry out additional work, for example approaching the managing company for service charge accounts, through to details of common parts management.
It is strongly advised that the vendor contact a property lawyer as soon as possible to reduce delays associated with leasehold property and, in particular, dealing with managing agents.
What if you are acting for the other side?
A conveyancer who is regulated by the CLC can act for both sides. However, SRA rules restrict a single conveyancing solicitor from working on behalf of both sides in a property sale.
If you are buying or selling a property in Truro, and a Quittance conveyancing solicitor is acting for the other side, you may wish to contact a law firm in Truro to carry out your legal work.
Local Truro conveyancing solicitor directory
- Brains Solicitors, 29 Lemon Street, Truro, Cornwall, TR1 2LS
- Carlyon & Son With John Rabey & Co, 78 Lemon Street, Truro, Cornwall, TR1 2PZ
- Murrell Associates Limited, 14 High Cross, Truro, Cornwall, TR1 2AJ
- Pender Law Limited, 11 High Cross, Truro, Cornwall, TR1 2AJ
- Braydilks, 33-34 Lemon Street, Truro, Cornwall, TR1 2NR
Conveyancing - Remortgaging a property in Truro
By far the most common reason people remortgage a home is to get a more affordable interest rate. There are any number of other reasons to remortgage, such as moving from a standard variable rate (SVR) to a fixed-rate, or consolidating loan repayments.
A good conveyancing solicitor in Truro will complete the conveyancing quickly, helping you get onto the lower rate earlier. With the Bank of England base rate now at 0.5% (May 2018), fast conveyancing can be a critical factor in getting onto your new rate as quickly as possible.
The property lawyer conducting the legal work should also be able to act for your preferred lender. Our conveyancers are on all major lenders' panels. So no matter whether you are changing to an offset mortgage with the NatWest or to a discounted-rate mortgage with the Leeds Building Society, our remortgage team can assist.