Whilst the current Stamp Duty Land Tax threshold is £125,000 for residential properties, there are different rules if you’re buying your first home in the Government’s attempt to help people get on the property ladder.
The Government introduced the Help to Buy ISA on 1 December 2015. The aim was to assist first time buyers in making the expensive leap onto the housing ladder.
The ground rent payable on a leasehold property has started to cause concern amongst lenders and property professionals.
Recent changes in Stamp Duty Land Tax (SDLT) rates may have caused confusion as to what rates apply in certain circumstances, not least when purchasing farms and estates.
Every month we answer frequently asked questions from across the practice and bring them together to help bring clarity to your legal needs. Each of the sections below lead off to a more comprehensive bank of information.
The government’s manifesto committed to reforming and modernising the conveyancing process.
Q. We want to help our 20 year old daughter buy her first flat, but we’re worried about putting such a valuable asset directly in her name. Is there anything we can do to protect the property until she’s a bit older?
The Chancellor, it seems, has taken a dim view of individuals taking advantage of low interest rates to buy property to rent out, and obtain income tax relief for the interest on borrowings used to purchase those properties. The new rules, which will see tax relief restricted to the equivalent of basic rate tax on the finance costs of purchasing buy to let properties, are to be phased in over three years starting from 6 April 2017. The full restriction will therefore apply to interest payments from 6 April 2020.
Associate, Samuel Davies from our Residential Conveyancing team speaks to the Financial Times about Help to buy Isa's.
Q. My buyer’s solicitor has asked me to provide any FENSA certificates. What are these certificates for?
The Solicitors Journal reports on Thomson Snell & Passmore's recent significant promotions within the firm.
We are pleased to receive, for another year, the accolade from eprivateclient of being listed as one of the Top 25 Law Firms in the UK.
Q. Was there any good news for SMEs in the Budget?
A. Whilst not transforming the landscape for SMEs, there was certainly some good news. The Chancellor looked to shift some of the tax burden onto large corporates, giving him some room to assist smaller businesses.
Landlords renting out residential properties are facing challenges as a result of new legislation being introduced on a number of fronts. Here are a few of the changes coming your way.
Tunbridge Wells attracts property buyers not just for being located in the Garden of England, it is also home to roughly 3,000 ‘listed buildings’, with many more located throughout the South East. This article covers what a ‘listed building’ is and the implications of buying such a property.
Following the mortgage industry and Land Registry decisions to dematerialise title deeds to properties in the early 2000’s, there has been a huge rise in property related fraud. The idea behind the decision was to save money on production and storage costs, as well as time producing documents. No longer are owners required to produce an actual Land or Charge Certificate, which were only issued by the Land Registry. Instead, all that is required is a copy of the Registry’s electronic copy of the title.
A recent High Court decision has highlighted the importance to buyers of only proceeding to exchange of Contracts after their building survey has been reviewed and understood.
Guy Hollamby, Partner at Thomson Snell & Passmore talks about his career and achievements leading one of the largest and most experienced residential property teams in the South East.
Leading South East law firm Thomson Snell & Passmore last week saw solicitor Samuel Davies awarded the Kent & East Sussex (Junior Lawyer Divisions) Achievement Award for Trainee Solicitor of the Year 2014.
Solicitor Rachel Taylor at Thomson Snell & Passmore writes about preparing for your big day.