Category: General
Sharp increase in properties on market in January
Research conducted by Propertymark has revealed that the number of homes put on the market in January rose dramatically after three months of declining figures. Looking at its own branches, Propertymark said that new instructions per branch were up from 5 to 9. The number of potential buyers registering was double that in December, after...
Average age of first time buyers has risen to 32
A report released by the UK’s biggest lender, Halifax, reveals that the age of first time buyers rose by three years over the past decade. The average age for a first time buyer is now more than 30 in every region of the UK. This is despite the fact that purchases by first time buyers...
What do searches reveal and why are they needed in a house purchase?
If you are buying a property, your conveyancer will carry out a number of searches on your behalf. We take a look at the searches you will be advised to have and why they are necessary. A property is a big investment and it is important to ensure that there will not be any nasty...
Tax loophole on second homes to close
The government plans to introduce new rules preventing second homeowners from falsely claiming that their property is a holiday let. Secretary of State for Levelling Up Michael Gove has said that holiday lets will need to be rented out for at least 70 days per year to qualify for business rates. Otherwise, they will be...
Landlord safety obligations
Landlords are required by law to carry out certain safety checks and ensure that their properties comply with health and safety regulations. Failure to do this is not only a breach of the law, it could invalidate landlord insurance. Full details of a landlord’s responsibilities are set out in the government’s Housing Health and Safety...
Understanding cyber security risks in conveyancing transactions
The government has announced that it is consulting on ways of improving cyber security for British business after a number of high-profile attacks. The conveyancing industry has long been wary of cyber attacks and cyber fraud in an area of law where large sums of money are routinely transferred. We take a look at how...
Government tells developers to fund unsafe cladding removal
The minister for Levelling Up, Housing and Communities, Michael Gove, has written to the residential property developer industry setting out the government’s approach to building safety. In a letter intended to resolve the cladding crisis, he offers a window of opportunity to the industry to work with his department in negotiating a settlement that will...
New build homes to have electric vehicle chargers from 2022
The Prime Minister has announced that as from 2022, all new build homes in England will have to have electric vehicle (EV) charging points. The new law means that up to 145,000 new charging points will be created each year. The legislation will also apply to newly built supermarkets, places of work and buildings that...
Rents in UK ‘rising at fastest pace in 13 years’
Private sector rents in the UK are rising at the fastest pace since 2008 according to property portal Zoopla. With strong demand and limited supply, rents in September reached 4.6% higher than the previous year, with average monthly rent standing at £968. Not including London, UK rents rose 6% in the year, a 14-year high...
