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 »
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 »
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 »
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 »
Buying and selling a residential property can be stressful and time-consuming without the help of a property lawyer from the outset. Andrew Clark, Partner in the Property team, outlines how sellers can help to speed up the property transaction process and explains the how a proactive property lawyer can help ease the pressure of, not… Read more »
The COVID-19 restrictions which were put in place in March are slowly being eased. New guidelines state that the buying and selling of residential properties is now allowed, as long as social distancing measures are followed. Andrew Clark, Partner in the Property team, shares his thoughts on how the outbreak has impacted the property market… Read more »
We are pleased to announce that conveyancing is moving again. On the 12th May 2020, the Government announced that the COVID-19 lockdown restrictions would no longer apply to the process of moving house from Wednesday 13th May 2020. Our conveyancing team has been working extremely hard throughout the lockdown period, progressing cases for clients to ensure… Read more »
A fundamental piece of advice for home sellers is: don’t wait until after you find a buyer to instruct a solicitor. With the Coronavirus lockdown in place, this advice stands true now more than ever. Many of our clients have recently asked: can I still sell my home during lockdown? Sellers may assume that nothing… Read more »
Gathering the right documents for your Solicitor at the start of selling your house could save time, delays and expense. Providing your identification documents (ID) and instruction forms quickly will enable your solicitor to open a file for you and conduct their compliance checks. Gather your funding information at the outset. Solicitors are required by… Read more »
As the government pledges to build one million homes nationwide over the next three to five years, they have also developed incentives to help potential buyers make a purchase. Schemes such as ‘Help to Buy’ have assisted first time buyers and those struggling to get on the property ladder. First time buyers also have a… Read more »
