Your home is usually the most valuable asset you own. That is why it is important that decisions about buying or selling property are properly made. It is also important that the process is as smooth and stress free as it can be.
Our conveyancing specialists deal every day with people who are buying or selling their homes or other property. Some clients are first-time buyers with limited experience and funds. Others are further up the property ladder or are looking for investment property. Whatever your situation, we will help you to complete as quickly as possible.
Moving house can be exciting, and it is frustrating when things appear to be moving slowly. We will keep you informed about the progress of your case every step of the way. You will be given the direct contact details of the person handling your case, and you can track the progress of your sale or purchase at any time of day or night with our conveyancing online monitoring service.
You do not need to be local to use Hegarty Solicitors. We can handle your entire transaction by phone and email but of course we are happy to meet face to face if you prefer.
We can also help you to put in place arrangements for the future – a co-habitation agreement or will, for example - because everyone needs the peace of mind that comes from knowing your investment is protected no matter what the future brings.
Stamp Duty Land Tax (SDLT)
If you purchase a property for over £125,000 you will have to pay Stamp Duty Land Tax to HMRC. The tax is charged at increasing rates for each portion of the price:
- Nothing on the first £125,000 of the property price
- 2% on the next £125,000
- 5% on the next £675,000
- 10% on the next £575,000
- 12% on the rest (above £1.5 million
- Higher rates for additional properties - additional 3%
From 1 April 2016 the rates for Stamp Duty Land Tax (SDLT) will be higher if you buy an additional residential property for £40,000 or more in England, Wales and Northern Ireland.
Further information can be found in the Guidance note - Stamp Duty Land Tax: higher rates for purchases of additional residential properties
There are different rules if you’re buying your first home. You get a discount (relief) which means you pay less or no tax in certain circumstances. Further information about Stamp Duty Land Tax can be found here.
Our online conveyancing calculator quote details the SDLT payable, however should you wish to find out the stamp duty payable without obtaining a quote for the conveyancing work you may do so from the HMRC calculator here: HMRC calculator
Important note about Wills
When you buy or sell a property it is a good time to think about making or updating your Will.
Why do I need a Will?
Your property is usually the biggest asset you hold, and so it makes sense to have a professionally drawn up Will in place to make sure your assets are divided up in accordance with your wishes.
Having a Will is particularly important if you are buying property jointly with someone else. You can own a property jointly as tenants in common or as joint tenants. As tenants in common you own a share of the property and are therefore able to pass on your share in the property in your Will. If you buy the property as joint tenants, your co-owner automatically gets your share of the property when you die, however, if you are unmarried or not in a civil partnership and do not have a valid Will in place, the remainder of your assets will pass to your children or to your parents or brothers and sisters. For more information take a look at our Wills section here.