Changes to shared ownership ‘will help more people buy a home’
November 11th 2020The government is planning changes to the shared ownership scheme to make it easier for people to buy more of their own home, including allowing them to buy in 1% increments. Linsey Hayes Conveyancer provides an update. At present, they have to buy an increased share in 10% chunks, which can be as much as £45,000 each time. This process of increasing the stake until the property is bought outright…
Surge in house sales as stamp duty holiday comes into effect
September 28th 2020There has been a large increase in house sales following the introduction of the Stamp Duty Land Tax (SDLT) holiday. By Sam Bulman, Conveyancer After a 14.5% rise in July, residential property transactions in August rose a further 15.6% as more people decided to buy a new home. The increase came after Chancellor Rishi Sunak announced a stamp duty holiday for residential properties worth up to £500,000, effective from 8th…
Tribunal modifies covenant to allow landowner to build house
September 21st 2020A landowner has succeeded in getting a restrictive covenant modified to enable him to build a second house on a small plot. By Jonathan Carroll Director and Head of Agriculture Mr Neil Sheppard owned a detached house on a 1980s housing estate. He bought the property in 2010, subject to restrictions on the title imposed by a conveyance in 1985, made between the developer and the original buyer. The restrictions…
Affordable homes scheme to be extended by a further year
August 24th 2020The Affordable Homes Scheme, which is designed to get more families on to the property ladder, is being extended for a further year because of the coronavirus pandemic. Linsey Hayes Residential Conveyancer provides an update. It’s estimated that the building of 53,000 new affordable homes has stalled due to delays in the construction industry caused by lockdown. The Government is stepping in to safeguard funding and make sure these homes…
New proposals to improve the buying and selling of homes
August 18th 2020New proposals have been put forward by industry insiders to improve the process of the buying and selling of homes. Elizabeth Crouch Associate Solicitor & Head of Residential provides an update. The Home Buying and Selling Group (HBSG) – made up 120 organisations advising the government – has drafted a memorandum for the “smooth operation of the residential property market in the UK”. The proposals, in what would be a…
New building sites to help housing market recover after Covid-19
July 20th 2020The government’s housing agency, Homes England, has acquired 19 sites across the country that will be used to build 5,000 new homes. Matthew Bibby Solicitor in our property team provides an update. The land is worth a total of £180 million. It’s hoped the new homes will help boost the housing market following the Covid-19 crisis. Many of the sites were acquired in the lead-up to the financial year-end as…
Homes England provides new guide to Help to Buy scheme
July 6th 2020Homes England has issued a new updated guide to the Help to Buy equity loan scheme, which has helped thousands of people get on to the property ladder. Linsey Hayes Residential Conveyancer provides an update. These are some of the main points covered. With Help to Buy, you can buy a new home on a new build development with assistance from Homes England in the form of an equity loan.…
Property sales pick up as estate agents and conveyancing services get back to work
June 5th 2020RESIDENTIAL property sales are on the move again across Cumbria and Northumberland, prompting conveyancing services to bounce back. Cartmell Shepherd Solicitors conveyancing department reports that activity has returned much quicker than many expected. “While it was quiet during the initial stages of lockdown, now that estate agents are open again activities have picked up significantly” said Elizabeth Crouch Head of Residential Property at Cartmell Shepherd Solicitors. Several estate agents are…
Advice for home Help to Buy customers during Covid-19 outbreak
June 2nd 2020Sam Bulman Conveyancer in our Residential Property team provides some useful advice for Help to Buy customers. Homes England has issued advice for Help to Buy: Equity Loan customers on how they can proceed with purchasing a home during the Covid-19 outbreak. It says that many people are worried because the situation seems so uncertain. In response, it has published a document containing the answers to some frequently asked questions.…
The Impact of COVID19 on Property Transactions
April 15th 2020Jonathan Carroll, Director and Head of Property & Agriculture helpfully explains the potential effects of #COVID19 on property transactions. For those buying or selling property, or who are already committed to a move, the COVID19 pandemic has brought some challenges. Fortunately, with good legal advice and a bit of common sense from the parties most of those challenges can be managed. “It’s important to stress that you need to follow…
