Wed 03 Jul 2013

Scotland to get fairer Stamp Duty system – why not England?

Property transactions will be subject to a fairer taxation regime from April 2015, following the passing of the Land and Buildings Transaction Tax (Scotland) Bill by the Scottish Parliament. But homebuyers in England and Wales are not going to see any change.

Up until now the same Stamp Duty Land Tax (SDLT) legislation has applied in both England and Scotland. But in 2012 the UK government agreed to devolve various tax-raising powers to the Scottish Parliament, including power to introduce its own taxation system for property transactions.

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Mon 01 Jul 2013

House price increases set to continue in July 2013

The latest figures for UK house prices continue to show a modest upward trend, with experts predicting that is likely to continue. There are signs that there is an increase in demand, but a lack of properties for sale in some parts of the country is fuelling a rise in prices.

Nationwide Figures

Figures from Nationwide Building Society show an overall rise of in 0. 3% in June. They also show that the annual rate of house price growth increased to 1. 9% in June - the fastest pace since September 2010.

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Fri 14 Jun 2013

RICS Survey shows improved house sales in Q2 2013

A recent market survey carried out by the Royal Institution of Chartered Surveyors (RICS) has revealed good news for the property sector.

According to RICS, the total number of residential properties sold in the last quarter in the UK was at its highest level in nearly 4 years.

Over the period of March to May 2013, more homes were sold than in any quarter since January 2010.

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Thu 13 Jun 2013

Leasehold Valuation Tribunal replaced by new Property Chamber

The new First-tier Tribunal (Property Chamber) will be taking over the work currently carried out by the Leasehold Valuation Tribunal (LVT) as from July 2013. The LVT deals with a wide range of work relating to leasehold property, such as valuations on enfranchisement and lease extension cases, as well as disputes about service charges and other property management matters.

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Thu 06 Jun 2013

Mortgage rates falling thanks to Funding for Lending scheme

The Bank of England says that mortgage rates have fallen following the introduction of the government’s Funding for Lending (FLS) scheme last year. Mortgage lenders have to borrow money themselves to fund mortgages, so the less they have to pay to borrow the lower the interest rates they need to charge to home-buyers.

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Wed 05 Jun 2013

Things to think about before buying a property near the sea

Many people like the idea of a seaside home. But when looking for such a property, think twice about how it might be affected by flooding from the sea, or the damage that can be caused when heavy gales blow salt-spray and sand far inland.

While any form of flooding is bad news, flooding by the sea or any form of salt water is really bad news for buildings. Salt water can cause long-term damage to concrete and brickwork, and corrodes metal. It is particularly likely to cause serious damage to electrical systems.

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Tue 28 May 2013

New Law Society advice on flood risk for home buyers.

Last year’s wet weather brought regular pictures of flooded homes to out TV screens. But it is not just prolonged wet spells that can cause flooding. Many homes are also at risk from rising sea levels and other causes.  

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Thu 09 May 2013

New Property Information Form aims to make Conveyancing quicker


The Law Society hopes that the updated Property Information Form will make Conveyancing transactions easier and faster for sellers and buyers alike.

The Property Information Form is an important part of the Conveyancing process. The responses, often called 'replies', given by sellers to the questions on the form give buyers and their Conveyancing Solicitors a wide range of important information about a property.

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Tue 07 May 2013

Do I own that fence? Identifying property boundaries


Homeowners often want to know who owns which of the fences or other boundaries round their property. But Conveyancing Solicitors often find it difficult to give a definite answer.

There is no common law requirement for a property owner to fence their property. Likewise there is no rule of general law preventing an owner from erecting fences, walls or hedges within their own property boundaries – although there may be restrictions in planning law.

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Fri 03 May 2013

Your home extension could violate a covenant, even with planning approval


Why you could still get into trouble over an house extension even if planning rules are relaxed 

Government plans to relax planning restrictions on building home extensions have been in the news lately. But even if current restrictions are amended, many homeowners may still be prevented from building an extension because of a covenant affecting their property.

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