News: Stamp duty holiday extended until the end of June

What does it mean for you? In the Budget, today, the Chancellor has confirmed that the stamp duty holiday on properties priced up to £500,000 has been extended by three months until the end of June. In addition, the holiday will also apply to properties priced up to £250,000 until the end of September 2021! The extension provides relief for buyers who were unlikely to complete their transactions before the original March 31 deadline. With a tax cut now available for buyers until September, this should also help to ensure…

New: Law Society calls for review of end of SDLT holiday to prevent sales collapsing

The Law Society has made a press release that calls for urgent action to prevent the end of the temporary increase in the residential SDLT nil-rate band. This is due to end on 31 March 2021, resulting in possibly, thousands of aborted sales. The Law Society is urging people to write to their MP to call for action. It has also suggested three possible options for the government to address the problem: Extend the temporary increase in the SDLT nil-rate band, thereby providing more time for buyers to complete transactions.…

Blog: How to take advantage of the stamp duty holiday

If you are in the process of buying a property, you may have considered whether you will be able to take advantage of the stamp duty holiday, allowing you to save up to £15,000 on your property purchase. In this article, we look at how to take advantage of an extension of the stamp duty holiday and the potential impact for buyers and sellers on how transactions will proceed. Stamp duty holiday - demand and delays The stamp duty holiday was introduced to stimulate the property market and means that…

News: Avanton is to tackle London’s housing crisis

The build-to-rent (BTR) group Avanton is to tackle London's housing crisis with massive plans to increase its landbank in the capital. The Avanton Group is to tackle London's housing crisis and has acquired a £500M fund to be utilised over a three-year period and will target the purchase and development of sites across London boroughs, including Islington, Southwark, Wandsworth, Wimbledon, Hammersmith, Lambeth, Camden, and Brent. The group seeks to acquire sites with values of between £20m to £100m, providing for 300 to 1,000 units per development.  Avanton is targeting up…

News: Housing Secretary – extended support for renters during the pandemic

On 14 February 2021, the Housing Secretary, Robert Jenrick, published a press release announcing extended support for renters during the pandemic. The measures that currently protect residential tenants from eviction in England, subject to certain exemptions, will continue until 31 March 2021. Renters will continue to be supported during the ongoing national lockdown restrictions, with an extension to the ban on bailiff evictions. The Current Regulations prevent attendance at a house in England for the purpose of executing a writ or warrant of possession or delivering a notice of eviction,…

Blog: The beginning of the end of leasehold 

Leasehold property owners are set for important changes in the coming months. The Government is planning to grant new rights on lease extensions and ending ground rent, which signals the beginning of the end of leasehold and this form of ownership. The government has indicated there will be a shift to ‘commonhold’ on the horizon, but the benefits to householders are likely to take time to filter through. Nearly all flats and some houses in England and Wales are owned on a leasehold basis, giving the owner the right to…

Have a pet and need to rent?

If you have a pet and need to rent, you will no longer struggle to find properties Under the new Model Tenancy Agreement, announced by Housing Minister Rt Hon Christopher Pincher MP, on the 28th January 2021, landlords will no longer be able to issue blanket bans on tenants with pets. Instead, consent for pets will be the default position, and landlords will have to object in writing within 28 days of a written pet request from a tenant and provide a good reason. The pandemic has led to an…

Cohabiting property ownership disputes

What happens when a failed relationship gives rise to cohabiting property ownership disputes? Separation is never easy, but if you and your former partner own property together, the situation can be even more complicated. If you have been living with a partner, but you are not married, the legal term is ‘cohabitation’. When cohabitees separate, they are not afforded the same protections in law as married couples who are getting divorced. This can be difficult, as, for many cohabiting couples, there is little difference in practical terms. In this article,…

The construction industry to adapt to be more energy efficient

Tony Chauhan, Property Partner at Bowling & Co Solicitors comments on the Government's response to the consultation on Future Homes Standard (FHS), and consults on Future Buildings Standard. He explains that "the changes are going to have a positive impact upon the environment and will require the construction industry to adapt to be more energy efficient in the way they build. This will mean more cost and careful planning for construction methods." Background: In October 2019, the Ministry of Housing, Communities and Local Government (MHCLG) published a consultation on the…

Long leases for London’s tenants

Sadiq Khan leads the way with long leases for London's tenants looking to get on the shared ownership property ladder. Affordable Housing Programme The Mayor of London, Sadiq Khan, has outlined plans to sell shared ownership homes delivered as part of his new Affordable Housing Programme with long leases for London's tenants on a standard 999-year lease term. Sadiq is determined that London leads by example and sets the benchmark for higher standards for leaseholders across the UK.  The new expectation, which was set out in a letter written by…

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