Feathering new nests for fledglings

Exam results have been released and new students know where they will be heading for university.  Following the relief of results day, the next big headache for parents is often the search for accommodation, whether for first-timers or returning students. Faced with high rental costs, shortages and sometimes poor-quality student digs in many cities, increasing numbers of parents are investigating the option of buying property instead of renting, but the different options can make it a minefield.  Explained Property legal expert, Jeremy Lewis of Bowling & Co Solicitors: “For parents…

Bonus for shared ownership buyers

First-time buyers who bought a shared ownership property in the last twelve months should check if they are due a refund on any Stamp Duty paid That's because when Chancellor Hammond extended Stamp Duty Relief available to first time buyers of shared ownership property in his Autumn 2018 budget, he also applied the extension retrospectively to any qualifying transactions that took place between 22 November 2017 and 29 October 2018. Since November 2017, relief has been available to first time buyers of shared ownership property who opted for the full…

Legal Tips and Help

Buying or selling a property can be an emotional roller coaster and lawyers use a lot of technical terms, so much so that it can be difficult to follow what they mean and at a time when you are trying to deal with the ups and downs of buying or selling a property, this is not a good recipe for keeping calm. To bring clarity to the puzzle of conveyancing “speak” we at Bowling & Co try our level best not to bombard you with lots of confusing legal terminology.…

UK sees first time buyer Mortgages rise as buy-to-let slows

Conveyancers as well as Lenders across the nation have experienced the detrimental effects the new Stamp Duty Land Tax (SDLT) rules, which came into force from 1 April 2016, have had on the Buy-to-Let market. The new SDLT rules impose higher rates of SDLT on purchases of additional residential properties, the higher rates being 3% above the standard SDLT rates. This has deterred home owners from increasing their property portfolio in the UK as the rules also apply to properties owned abroad. One may argue the SDLT uplift on purchases…

What is Post-completion and how long does it take?

If you have ever sold or purchased a property you may be familiar with the concept of "Completion". For those who have not done so, completion is the date on which the parties to a transaction physically move to their respective properties, once the solicitors have sent the funds and these have been received. As far as a seller or purchaser is concerned that is the end of the matter for them, as they are either moving onto their new home or receiving a balance in their bank account. For solicitors,…

Stamp Duty Land Tax reform

In the final Autumn Statement before the general election next year, the Chancellor, George Osborne has announced an overhaul of Stamp Duty Land Tax (SDLT). At present, stamp duty is calculated as a percentage of the whole property with an increased rate triggered by being only a pound over the relevant threshold. The new measures introduced with effect from 4 December 2014 fundamentally change the way in which SDLT rates will be applied to the purchase price of properties. The new stamp duty rate will be calculated as follows: 1.…

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