Category: Transfer of Equity
Can I pull out of a house sale or purchase if I want to?
If you decide partway through the conveyancing process that you no longer want to proceed, you may be able to pull out without sanctions. Pulling out of a sale or purchase before contracts are exchanged is possible, although you are likely to be liable for some of the costs that you have incurred, such as...
1 in 10 millennials plan to buy an investment property within a year
Research by insurer Aviva has found that 10 per cent of UK adults aged between 35 and 45 plan to buy an investment property within the next 12 months. With strong demand for rental properties and some shortage of available homes as stock levels have decreased, buying a property to rent out is looking attractive...
House prices in UK rising at fastest rate for five years
With the chancellor’s extended Stamp Duty holiday continuing to buoy the property market, the country’s biggest mortgage lender has reported that house prices are rising at their fastest pace in five years. Halifax says that there was a 1.4 per cent increase in the cost of an average home in April 2021, meaning a new...
Research reveals which street names are most popular with buyers
New research into street names has found which type of road name is most popular with buyers and which streets are the priciest. Lucky homeowners living in a street ending with ‘Hill’ or ‘Garden’ have the highest average home prices, according to a study by estate agent comparison site, GetAgent.co.uk. The research looked at trends...
Landlords selling private rental properties
Recent figures have revealed an increase in landlords selling their properties in the private home rental sector. Online property company Zoopla’s House Price Index report shows that the number of homes for sale that were previously rented has steadily increased throughout the past year. The south east and London show the biggest increase, with 13...
Increase the value of your home by £50,000 in less than 48 hours
Research carried out by Rated People has found a number of quick fixes for home sellers that could result in substantially higher offers. With the Stamp Duty holiday extended until the end of this month, buyers may have a little more money to spend on a property. To maximise the purchase price, Rated People’s Home Improvement...
Stamp Duty surcharge introduced for overseas property buyers
On 1 April 2021, the government introduced a new Stamp Duty Land Tax surcharge of 2 per cent for buyers of homes in England and Northern Ireland who are from outside the UK. This means that overseas buyers will be required to pay an additional 2 per cent on top of the standard level of...
Buying or selling a leasehold property
If you are buying or selling a leasehold property, you may find the conveyancing takes slightly longer than normal. The reason for this is the added information that will need to be provided. Most houses are freehold properties, while flats are usually leasehold. When a property is leasehold, the freehold is owned by the landlord...
Working around the clock to meet property market surge
There has been a renewed surge in demand in the property market due to the Stamp Duty holiday deadline extension which is placing a huge strain on all UK conveyancing firms. The extension of the holiday deadline by three months does deliver much needed reprieve to UK conveyancers and clients, but it ultimately does not...
