Embarking on a buy-to-let property investment journey is an exciting step towards building what will hopefully become a lucrative property portfolio. However, the legal landscape for buy-to-let properties is significantly more complex than a standard residential purchase.
You are not simply buying a home; you are acquiring a business asset, and that distinction brings with it a host of extra legal, financial, and tax considerations. That is why obtaining transparent and detailed buy-to-let conveyancing quotes from specialist property solicitors like ours is a critical part of the process. By understanding the tasks involved in purchasing a buy-to-let property, and the costs implications, you can budget accordingly.
Please call us free now on 0800 059 0600 or complete a Free Online Enquiry and a member of the team will get back to you soon.
“Professional friendly advice from start to finish”
What Makes Buy-To-Let Conveyancing Different?
While the core conveyancing steps, such as searches, contract exchange, and completion, mirror those involved in a traditional conveyance, the due diligence and regulatory scrutiny involved in a buy-to-let transaction are far greater. A specialist buy-to-let conveyancer focuses on advising clients on the unique risks and liabilities associated with purchasing buy-to-let properties and becoming a landlord.
Examples of the types of matters on which our buy-to-let conveyancing solicitors will advise you include the following:
Stamp Duty Land Tax
Additional properties attract a higher rate of stamp duty land tax. Our buy-to-let conveyancing solicitors will advise you on the tax implications of your proposed purchase and file the stamp duty land tax return with HMRC on your behalf, ensuring the deadline is met and avoiding fines.
Leasehold Restrictions
For leasehold flats, our buy-to-let conveyancing solicitors will scrutinise the lease for clauses that could severely impact your investment, including service charge provisions and subletting restrictions.
Property Title And Covenant Review
Covenants are legal rules dictating what can and cannot be done on the land in question. Our buy-to-let conveyancing solicitors will check for any covenants that might impact your investment, such as restrictions on alterations.
What Do Buy-To-Let Conveyancing Quotes Include?
Our buy-to-let conveyancing quotes clearly break down the costs you can expect to incur in connection with your transaction.
Broadly speaking, your fees will fall into two main categories: Legal fees and disbursements. Understanding these is key to budgeting for your investment.
Legal Fees
Your legal fees are our professional charges for the work we undertake in connection with your matter. While we are committed to keeping our costs as low as possible, the fees associated with buy-to-let transactions may be slightly higher than standard residential work due to the added complexity.
Disbursements
Disbursements are the third-party costs you will incur during the course of your buy-to-let purchase. Examples of some of the disbursements you may need to pay include the following:
- Local authority searches. These essential searches check for any local development or enforcement notices that could affect rental value or future planning.
- Environmental & drainage searches. These crucial searches uncover flood risk, contaminated land, and sewer locations, all of which can have a marked effect on your proposed purchase.
- Land Registry fees. You will likely need to pay Land Registry fees in connection with your purchase, including the fee to register yourself as the new legal owner of the property.
What Should You Look Out For In Buy-To-Let Conveyancing Quotes?
When reviewing your buy-to-let conveyancing quotes, it is important to remember that the cheapest quote is not always the best option.
Buy-to-let conveyancing transactions are complex, and the consequences of getting it wrong can be severe. A specialist buy-to-let conveyancing solicitor will painstakingly carry out the due diligence required to safeguard your investment, flagging risks that a generic conveyancer might miss. Our expertise on stamp duty land tax, lender requirements, and landlord compliance can save you tens of thousands of pounds in future tax bills or legal liabilities.
At Johnson Astills, all of our quotes, including our buy-to-let conveyancing quotes, are transparent, itemised, and prepared by a specialist team that understands the intricacies of buy-to-let conveyancing transactions. It is our firm policy to keep our costs incredibly competitive to ensure that as many people as possible can access our legal advice and support.
If you have any queries about your buy-to-let conveyancing quote or any other aspect of your transaction, our friendly, approachable team is always on hand to address them and offer the advice and reassurance you need. We have offices in Leicester and Loughborough, and we are proud to serve clients in our local communities and further afield. We actively embrace cutting-edge technology, so you can liaise with us in a way that suits you, be that online, over the phone, or in person.
Please call us free now on 0800 059 0600 or complete a Free Online Enquiry and a member of the team will get back to you soon.
“Great communication and first class service.”
