Frequently Asked Questions (FAQs) for Buyers and Sellers in Residential Conveyancing
1. How long does the process of buying or selling a property take? The length of the conveyancing process can vary depending on factors like the complexity of the transaction and whether the chain is long or short. On average, it can take between 8 to 12 weeks to complete the process. However, transactions involving
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Understanding the New 5% Higher Rates Stamp Duty Surcharge and the Main Residence Exemption
Effective Date: 31st October 2024 As of 31st October 2024, the higher rates of Stamp Duty Land Tax (SDLT) for individuals purchasing additional properties have increased to a 5% surcharge, up from the previous 3%. This additional surcharge applies to those who already own one or more residential properties and are purchasing an additional property.
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