The Prime Minister, Boris Johnson, announced plans to extend the right to buy to millions of people who rent from housing associations. In a speech this week, Mr Johnson said that he wants 2.5 million people who rent housing association properties to have the chance to buy their homes at a discount. The government, under Margaret […]
A judge has awarded a retired atomic energy engineer a £1 million pay out after he ruled the man’s sister had committed ‘fraudulent calumny’ in order to disinherit her brother from his father’s estate. David Whittle brought the case against his sibling accusing her of influencing their dying father by telling a series of lies, […]
The Leasehold Reform (Ground Rent) Act 2022 comes into force on 30 June 2022 (except for retirement properties where it will not come into force before 1 April 2023). In one of the most significant changes to property law in recent years, the act will put an end to ground rents for new and qualifying […]
Anyone who watched the recent ITV drama, Our House, will know the perils of a fraud known as title or registration fraud. In which the fraudster impersonates a home-owner in order to sell their property. While the storyline of the ITV drama was far-fetched however registration fraud is a real crime and poses a real […]
Freehold-owners of buildings are selling space above leasehold flat-owners’ heads for millions of pounds thanks to new rooftop extension rules. Permitted development rights Permitted development rights, that the government approved in August 2020, mean that up to two new storeys of flats can be built on top of existing residential blocks, or commercial buildings, without […]
HMLR’s Property Alert service tells you if anyone applies to make changes to your property’s details, including someone taking out a mortgage against it or making an application to change ownership.
According to The Office for Budget Responsibility’s forecasts, tax receipts accumulated from IHT will rise from £5.1billion in 2019-20 to £6 billion in 2021-22.
With the UK average house price now £258,000, the furlough scheme coming to an end, rising energy costs, and the end of the stamp duty holiday, many fear the housing market will go from boom to bust. Early signs suggest this is not the case. While house price growth slowed in September to 0.1 per cent, areas of the country, particularly the Northwest, still appear to be an active market.
A deed of variation (DOV) – is a legal document usually drawn up by a solicitor that allows you (if you are the beneficiary of an estate) to make changes to a will, in the name of the deceased, after their death.
When you set up the trust, you nominate trustees who will decide how to deal with the assets in the trust. The term ‘discretionary’ means that the trustees have no right to the assets until such time as they are appointed to them – in other words when the trust comes into effect on your death
House prices in England rose at their fastest pace since 2004 last month after the chancellor, Rishi Sunak, extended stamp duty relief on property purchases, a Nationwide survey suggests. Property prices in England rose by 2.1 per cent in April. Compared to April 2020 this is a rise of 7.1 per cent. The survey suggests […]
The government will offer incentives to mortgage lenders in a bid to bring back 95% mortgages which have all but disappeared during the Coronavirus crisis.
The Chancellor, Rishi Sunak, is considering extending the stamp duty holiday for a short period according to a newspaper report today. The Daily Telegraph, quoting an unnamed government source, says the Treasury may extend the stamp duty holiday deadline of 31 March 2021 by as much as six weeks– taking it to mid-May. The move […]
The government has extended the deadline of the current Help to Buy scheme. COVID-19-related delays of up to eight months meant that buyers of yet-to-be-completed new build properties were at risk of being unable to complete on the purchase before the end of the Help to Buy Scheme. History of Help to Buy In the […]
Introduced last year as a response to the pandemic, the chancellor’s tax concession means no stamp duty land tax (SDLT) is paid on the first £500,000 of a property sale. However, all rates are set to return to their pre-pandemic thresholds on 1 April. For buyers this will mean the end of a tax saving […]
It is not uncommon for clients that have written Wills with a firm to move house and relocate to other parts of the country. Due to these circumstances and the passage of time, clients may forget where their Will is stored or lose the copy of their Will, making it increasingly difficult for their loved […]
Delays in the building of new homes caused by the Covid-19 pandemic may mean thousands of property buyers will lose out if their homes are not ready before the end of the current Help to Buy loan scheme. The government launched the Help to Buy equity loan scheme in 2013 offering loans of up to 20 […]
Those looking to secure a new mortgage are experiencing problems as lenders struggle with demand and deal with pandemic-related staff absences. Mortgage lenders are finding it hard to cope with the excess demand for their products as buyers try to complete on their house purchase before the stamp duty holiday ends on March 31. Stamp […]
The Tory government faces a backbench rebellion over the plight of residents stuck in blocks of flats who face crippling bills to remove flammable cladding. Backbenchers are calling for an amendment to make it illegal for housing developers to pass on remediation costs to leaseholders. They are close to obtaining the 44 Conservative party member signatures […]
A record number of people have set up buy-to-let limited companies in 2020 despite problems with the housing market caused by the pandemic. Landlords created 41,700 buy-to-let firms last year, a 23 per cent increase from 2019. The number of buy-to-let companies has more than doubled since 2016 following the government’s introduction of tax changes […]