Article Category: Property – Insight & Opinion

Queen’s Speech 2021: Changes to the Planning System

On 11th May, changes to the planning system were announced in the Queen’s speech as the UK government set out its plan to help build 300,000 new homes per year and increase home ownership. This will involve the ‘biggest shake up to the planning system in 70 years’ as the  government indicated that its focus… Read more »

Misrepresentation in Property Transactions

mental health awareness week - woman stressed at work

With the news that property transactions rocketed by “over 48% in February 2021”, buyers should be aware of their rights should problems arise with the property once completion has taken place. What can you do if you’ve become a victim of misrepresentation during a property transaction? “Caveat Emptor” aka Buyer Beware The basic position when… Read more »

How Would a Rise in Capital Gains Tax Affect Residential Properties?

Chancellor, Rishi Sunak, announced in his 2021 Budget that the Capital Gains Tax (CGT) rate would be left unchanged. From a property perspective, CGT applies to the profit made on the selling of buy-to-let properties and second homes. The threshold for CGT currently stands at £12,300, and the rate stands at 28% for higher rate… Read more »

Budget 2021: Business Rates Relief Extended Until March 2022

How does the extension of the business rates relief affect the commerical propert market?

Business rates represent one of the largest costs for businesses occupying commercial properties, many of whom have undoubtedly been acutely affected by the COVID-19 pandemic. With that in mind, the Government announced in its Spending Review that it had decided to freeze the business rates multipliers in 2021/2022, with the intention of benefitting and providing… Read more »

Budget 2021: Stamp Duty Holiday Extension and Mortgage Guarantee

Keys for new home - stamp duty holiday extension and mortgage guarantee scheme announced in latest budget

In an attempt to mitigate the effects of the COVID-19 pandemic, Chancellor Rishi Sunak announced an extension to the Stamp Duty Land Tax (SDLT) holiday, along with a new mortgage guarantee. Stamp Duty Land Tax (SDLT) Holiday Extension The stamp duty holiday on property purchases below £500,000 has now been extended for 3 months until… Read more »

Thinking of Raising Funds by Refinancing Your Property?

refinancing commercial property

Over the last few months, there has been a significant increase in the number of new instructions received whereby we are being asked to act for clients who are raising funds by refinancing and securing loans against existing properties that they own. This increased demand to raise monies may be caused by any number of… Read more »

Changes to the Statutory Lease Extension Process for Residential Flats

Signing of a lease extension agreement

On the 7th January 2021, the Housing Secretary, Robert Jenrick, announced that under proposed Government reforms, leaseholders (tenants) will be given the right to extend their lease by a maximum term of 990 years at zero ground rent. These proposals come off the back of a Law Commission report in July 2020, which set out… Read more »

Lockdown and Permissive Access for Landowners

Permissive access for landowners

In the past, landowners could use public rights of way to provide ‘permissive access’ over the land for the benefit of local residents to use for walking, cycling or horse riding, for example. This was so that it came within Countryside Stewardship Schemes run by Defra and managed by Natural England. Permissive access provided landowners… Read more »

How RPI Reforms Could Affect Commercial Property

tablet showing graph of RPI

Retail Price Index (RPI) is the oldest measure of inflation in the UK and is used widely across the economy and in financial contracts. However, the means by which it is calculated no longer meets current international statistic standards. This has meant that RPI has not been classed as an official statistic since 2013 because… Read more »

COVID-19 and Its Impact on the Commercial Property Market

The COVID-19 pandemic has had an enormous impact on most businesses. As for the property sector, the stamp duty holiday appears to have played a part in strengthening the residential property market, which has encouraged many developers to continue to locate strategic sites. Entrepreneurs are closely monitoring distressed assets and, with budgets stretched, investors and… Read more »