Blogs



Fri 22 Mar 2013

Help to Buy – how the budget plans will help

 

If you want to buy a new home, the first part of the Help to Buy scheme announced in the budget could help, even if you aren’t a first-time buyer.

The new arrangements will help all would-be buyers who do not have a large deposit available, and will appeal to people who already own a home but want to move – perhaps in connection with a new job, or to buy a bigger property as their family has grown.

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Fri 22 Mar 2013

Help to Buy - Budget promises help for homebuyers but no change to stamp duty

The Help to Buy package announced in his budget speech today by Chancellor George Osborne should be interesting news to anyone hoping to buy a home, not just first-time buyers.

But it’s ‘jam tomorrow’ for homeowners who want to buy an existing property rather than a new one, as the part of the package intended to help them will not come into operation until January next year.  

The Chancellor has regrettably still not made any move to reform stamp duty land tax, despite repeated calls from many quarters.

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Mon 18 Mar 2013

Signs of growth in house sales as mortgage lending figures show January increase

Figures from the Council of Mortgage Lenders show lending for house purchase reached its highest January total in five years. This looks like an encouraging start to the year for the property market.

38, 300 mortgages were completed for house purchases in January, an increase of 11% compared to January last year. The total value of mortgage lending for January was £5. 7 billion, compared to £5. 2 billion in January last year.

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Fri 15 Mar 2013

What is meant by 'Permitted Development'?

Under Town and Country Planning legislation “development” is defined as “the carrying out of building, engineering, mining or other operations in, on, over or under land, or the making of any material change in the use of any buildings or other land. ”

This is a very wide definition, and to avoid the need for homeowners to have to apply for planning consent for minor works, The Town and Country Planning (General Permitted Development) Order 1995 (as amended) sets out a schedule of works which are deemed to be permitted without needing consent.

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Fri 15 Mar 2013

Why can’t local councils do something to provide quicker replies to local searches?

Waiting for replies to local searches still appears to be one of the most frequent causes of hold-ups when buying a home, according to many Conveyancing Solicitors. Why this should continue to be the case is something of a puzzle - some local councils just don’t appear to realise the need to provide a quicker service for homebuyers.

Anyone buying a property is advised to have a local search carried out. If a buyer is getting a mortgage, then a search will invariably be required by the lender, so Conveyancing Solicitors are obliged to do searches in most cases.

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Fri 15 Mar 2013

Don’t lose the plot – checking title plans before buying a house

Including a plan of the property in all registered titles is one of the better features of modern conveyancing. When buying any property, be it studio flat or country estate, buyers should always take care to check that the title plan correctly shows what they think they are buying. If you are not sure, tell your Conveyancing Solicitor so that a further check can be made.  

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Fri 08 Mar 2013

New Land Registry advice on joint home ownership

 

Joint home ownership can be a minefield, yet few homebuyers are made fully aware of the potential problems. To clarify the situation, the Land Registry has recently published an updated guide, jointly with the Law Society, for Conveyancing Solicitors.

The guide particularly stresses the need for joint buyers to be clear at the outset exactly what their shares and rights in the property are to be, and for this to be properly recorded.

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Mon 04 Mar 2013

House prices rise in 2013 – but not for the whole country

 

There has been a small average increase in home prices, according to latest figures from both the Land Registry and Nationwide Building Society.  

The Registry’s figures, which are based on completed property sales, show a monthly price increase of 1. 0 per cent for January. This brings the average house price in England and Wales to £162, 441.

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Thu 28 Feb 2013

Land Registry initiative could mean quicker conveyancing searches.

The Land Registry has just announced a scheme which it hopes will provide quicker and cheaper Conveyancing searches. Searches with the local council are an essential part of the home-buying process, but at present Conveyancing Solicitors may have to wait several weeks to receive replies – some councils are notorious for their delays.  

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Thu 28 Feb 2013

A fresh look at Rights of light

 

Rights of light may not be a subject to worry most homeowners, but a recent article in the Daily Telegraph gave the impression that this was yet another hallowed property right under attack from the government.

The subject of the article’s wrath is a consultation paper just published by the Law Commission, looking into the way the law relating to rights of light operates at present, and suggesting possible amendments. The Commission is a statutory independent body to keep the law under review and to recommend reform where it is needed.

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