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Beware the Leasehold

May 09, 2017 | Residential Property

According to recent government estimates, up to four million people do not own the freehold to their own properties. Instead, many homeowners, particularly of new build homes, own their homes on a leasehold basis. This means that these homeowners own their home for a fixed period during which it is rented from the freeholder (often(Read more)

RICS Reports Lack of Impetus in Residential Sales Market

May 02, 2017 | Residential Property

The Royal Institute of Chartered Surveyors (RICS) reports a lack of impetus in residential sales market According to a recent RICS press release, the UK housing market continues to lack impetus, with data suggesting the numbers of new buyer enquiries and agreed sales in March was stagnant. Although the picture varies in different parts of(Read more)

Renting Out Your Driveway: What You Need to Know

April 25, 2017 | Residential Property

I’m thinking of renting out my driveway- what should I bear in mind? With parking space at a premium in many towns and cities and parking permits costing often in excess of £100 per week, homeowners are renting out their driveways and parking spaces to earn extra income. What should you be aware of if(Read more)

Landlords Need to Plan to Upgrade Their Properties Now

November 01, 2016 | Residential Property

The Department for Energy and Climate Change (DECC) has now published regulations which will have a significant impact upon the ability of Landlords to grant new Leases of either Residential or Commercial Property from 1st April 2018. At present, it is an offence to market, sell or let a Property without first obtaining an Energy(Read more)

Bicester – The Future of Garden Cities?

October 26, 2016 | Residential Property

Historian Dan Cruickshank discusses the history and future of garden cities, including Bicester, in this recent Radio 4 documentary. http://www.bbc.co.uk/programmes/b07z4155 HMG LAW LLP, Property and Conveyancing Solicitors in Bicester and Oxford(Read more)

Landlords: Increased Reporting Requirements

October 12, 2016 | Residential Property

HM Revenue and Customs has published six consultation documents on “Making Tax Digital”.  The proposals include quarterly filing requirements for all businesses and landlords with a turnover of over £10,000. The rules for landlords are being changed and it is proposed to introduce a cash basis for landlords without an upper limit on the gross(Read more)

Short Term Letting of Property - Is It Still a Private Residence?

September 30, 2016 | Residential Property

Many owners of flats hold their property on a long term lease – often 99 years or more.  It is common for such leases to contain a provision that the flat can only be used as a private residence.  In a recent case, the Court reached the surprising decision that an owner who advertised his(Read more)

Post ‘BREXIT’: The Only Certainty is…Uncertainty?

July 12, 2016 | Residential Property, Commercial Property, Employment, Dispute Resolution, Business Services, Wills and Probate, Family Services, Motoring and Road Transport, The Arts

Although there has been huge political fallout in the last fortnight as a result of the BREXIT vote, the long-term effect on British jobs, business and individuals is unclear. From an economic perspective, after an initial plummet from 6338 to under 6000, the stock market appears to have recovered to near pre-vote levels (FTSE 100(Read more)

Granny Flats Will Be Exempt from Stamp Duty Land Tax (SDLT)

June 03, 2016 | Residential Property

Following a change of heart by the government Granny Flats, as they are commonly known, will be exempt from Stamp Duty Land Tax (SDLT).  Originally, homeowners with self-contained accommodation designed to house elderly relatives faced being classed as having a second property under the recent changes to SDLT rules.  Sir Eric Pickles, the former Communities(Read more)

Increased SDLT When Replacing Your Main Residence

April 13, 2016 | Residential Property, Wills and Probate

Homeowners who do not manage to sell their existing home when buying a new main residence will feel the sting of the higher rate of Stamp Duty Land Tax (‘SDLT’) on their purchase.  For those who buy a replacement main residence, whilst still owning their previous home, will now have to pay the increased rate(Read more)