Transfer of Equity Explained
Equity is commonly used to mean the amount of money a property owner has tied up in that property. It is often described as positive, meaning more money than when they brought the property if the price has gone up,…
How Do You Sell a Shared Ownership House?
Selling a shared ownership house or flat can be an easier and certainly faster process than selling a wholly owned property, but the steps required in order to do so differ greatly, which can make the process confusing. But how…
Residential Property Update
HM Treasury met earlier this week to discuss, amongst other things, the current Stamp Duty deadline of 31st March 2021. At the very beginning of the COVID-19 pandemic last year, the UK housing market took an instant hit as investors…
Stamp Duty Land Tax Changes
By Amy Cornelius Stamp Duty Land Tax: Important changes to timescales for filing returns From 1 March 2019 the period of time to file a Stamp Duty Land Tax (“SDLT”) return, and pay any SDLT due, will reduce from 30…
Planning Application Restricted to Preserve View
On our densely populated island, there is a pressing need for available land to be put to sensible use and, where restrictive covenants lurking in title deeds prevent that happening, they can be modified. In a case on point, a…
Amendments to the higher rate of SDLT for additional dwellings
In the Autumn 2017 Budget, the government announced that it was granting relief from the higher rate in certain cases. The changes apply to transactions with an effective date (normally completion) of 22 November 2017 or later. In short, the…
Stamp Duty Land Tax: relief for first time buyers
From 22 November 2017 first time buyers paying £300,000 or less for a residential property will pay no Stamp Duty Land Tax (SDLT). First time buyers paying between £300,000 and £500,000 will pay SDLT at 5% on the amount of…
Court Unwilling to Force Family Home Sale
Taking legal advice when borrowing for any purpose is important, as a recent case in which a wife faced the possibility of the sale of her home when her husband was made bankrupt shows. When he faced financial difficulties in…
Neighbours’ Row Over Garden Shed Costs £140,000
Disagreements between neighbours can usually be resolved with a little legal advice and goodwill on both sides. However, in one case where that sadly did not happen, a homeowner was left facing a six-figure legal costs bill after an abortive…
Homeowner Overturns Gypsy Encampment Planning Permission
It is sometimes said that objectors’ opinions are not given enough weight in planning decisions. However, in one case, a determined homeowner obtained specialist legal advice and succeeded in overturning planning permission for a gypsy encampment that spoilt his views…