Insights

Leasehold reform 2020

    Properties in England are most commonly sold as either Freehold or leasehold. A Freehold property is where the property owner owns the building but also the land in which it stands on, where as a leaseholder owns the property but not the land in which it is built on.   Leasehold property owners will pay a ground rent to the person or company who owns the land in...
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New Help to Buy scheme from April 2021 until March 2023

    The Help to Buy scheme is set up by Homes England to help first time buyers get on the property ladder.   It is available on Newly built properties and the builder will have registered with Help to Buy.   You need a minimum deposit of 5% and the Equity Loan from the government provides a loan of up to 20% of the property value (40% if you...
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Stamp Duty Holiday

    Stamp Duty Land Tax (SDLT) is payable if you buy a property or land in England and Northern Ireland. This is Land and Building Transaction tax in Scotland and Land Transaction Tax in Wales.   Currently SDLT is only payable on residential properties over £500,000 as a relief through the government to keep the property market moving. This is in place until April 2021.   From April 2021...
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House prices – October 2020

    People are understandably concerned with the future of property prices in the current climate with the impact of Covid-19 across the UK. The Government has bought in incentives to help to the property market to continue to thrive such as the stamp duty relief and the release of the new Help to Buy scheme from April 2021. Nationwide’s latest house price index update showed that the annual house...
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The property market in Bath and Bristol

    Property prices in the South West are high in comparison to more northern areas of the UK with the average property price over the last year in Bath at £486,525 and £323,395 in Bristol. (https://www.rightmove.co.uk November 2020).   Property prices in Easton area of Bristol have seen the biggest increase across the UK in the last decade with an increase on the average price up 120%. (https://www.theguardian.com/uk, October...
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Help for Mortgage prisoners

    According the Financial Conduct Authority’s (FCA) Mortgage market study it is estimated that around 140,000 people were unable to change to a better deal on their mortgage. There are around 250,000 people in closed mortgage books or with firms that are not regulated by the FCA but with the new rules being bought in around 170,000 of these borrowers are up to date on payments and so would...
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