If you’ve been thinking about buying a leasehold property but have been put off because of the ground rent charges, you no longer need to let that stop you from going ahead with your purchase. From 30th June, ground rent cannot be charged on new residential leases.
Here at PGM we have an expert conveyancing team so you can rest assured that your transaction will be in safe hands. We understand that what you want is simply to be in your new home, and it is our job to make that happen as swiftly and as smoothly as possible.
During these difficult times, many parents will be worried about the impact that the Coronavirus is having on existing child arrangement orders and future hearings.
If your property is still leasehold, the clock is ticking. If you have less than 60 years left to go on your lease you should seriously consider buying the freehold.
The Secretary of state for housing, communities and local government James Brokenshire has written to the Competition and Markets Authority and the Solicitors Regulation Authority in an effort to tackle issues with the leasehold market.
From April 1 the Welsh Assembly Government introduced its own Land Transaction Tax (LTT) replacing Stamp Duty Land Tax (SDLT). This means that England, Scotland and Wales each have their own separate regime for taxing the acquisition of land.
Recently we have dealt with a number of clients who have purchased the freehold title to their property. The problem with leasehold properties is that every year the cost of the freehold will increase and as the term of the lease diminishes even further, the price will escalate quite dramatically.
Chancellor Philip Hammond has abolished stamp duty for first-time buyers on properties worth up to £300,000 and on the first £300,000 on properties worth up to £500,000 in higher-value areas, such as London.
Recent reports have shown that first-time buyers now require an average of £33,000 for a deposit on a house. Understandably, young people are finding it extremely difficult to save this amount of money - so, what can they do?
