A property chain is a link connecting many homebuyers and sellers. How does this link form? Well, suppose you are selling your home and buying a new one. The person selling to you may also be buying a new home from a third person. Similarly, the person buying from you may be selling his current …
What is a Property Chain and What Happens if it Collapses? Read More »
On July 8th 2020, Chancellor Rishi Sunak announced that the stamp duty threshold will be raised from £125,000 to £500,000 until March 31st 2021. What is stamp duty? When you buy a house or a piece of land in the UK, you are required to pay stamp duty, which is a percentage of the property price. The …
Housing Secretary Robert Jenrick has announced an extension to legal protections for private tenants in the UK for an additional four weeks. The requirement for landlords to provide six-month eviction notice periods – introduced to protect tenants affected by the COVID-19 crisis – will now continue until March 31, 2021, at the earliest. This means …
Six-Month Mandatory Eviction Notice Extended Until March 31 2021 Read More »
Whether you are thinking about selling your property or in the midst of a property transaction, the prospect as a whole can be quite daunting. Particularly when the administrative side of the sale gets underway – the complexity of which never fails to take first-time sellers by surprise. Selling a home in the UK involves …
Additional Enquiries by Conveyancers: The Importance of Honesty Read More »
When two or more people make the decision to purchase a property together, they may choose to buy the home as ‘joint tenants’ or ‘tenants in common’. But what are the main differences between these two property purchase pathways? Joint Tenants Purchasing a home with one or more other people as joint tenants mean that …
Buying a Home? Joint Tenants vs Tenants in Common Read More »
A leading solicitor at one of the UK’s longest-established law firms has issued a stark warning to property owners, for whom a new ‘game-changing’ second property tax policy could have severe repercussions. In a press release issued by MFG Solicitors, Gary Priest spoke of the potential implications of the government’s imminent Private Residential Relief overhaul, …
Property Owners Warned to Prepare for ‘Game-Changing’ Second Property Tax Changes. Read More »
The government has brought forward a new measure due to outbreak of Coronavirus which means that landlords will have to give all tenants three months’ notice if they intend to seek possession. This protection covers most tenants in the private and social rented sectors in England and Wales, and all grounds of evictions. The guideline confirms …
In what the government itself has named “the biggest change to the private rental sector for a generation”, we could be soon looking at the abolishment of “no-fault evictions” under Section 21 of the Housing Act 1988. A move that could spell bad news for landlords, though has been touted as beneficial for tenants across …
Government Seeks to Abolish S21 No-Fault Eviction Notices Read More »
Officially brought into force as of June 1st, the Tenant Fees Act has wide-reaching ramifications for both landlords and letting agents across the United Kingdom. The Act isn’t especially long, but nonetheless contains a series of extensive updates and overhauls to existing policy. Specifically, landlords and letting agents face new rules on omitted payments, default …