The very latest news and views from Ashley James Solicitors
In the Budget on 22 November 2017, the Chancellor of the Exchequer announced a relief from stamp duty land tax (SDLT) for first time buyers. The relief will apply from 22 November 2017 to purchases of residential property for £500,000 or less, provided the purchaser intends to occupy the property as their only or main […]
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Below is a really useful guide from The BBC regarding the financial decisions involved in buying or renting a property. Buying a property is one of the biggest financial decisions most people will make and this guide provides useful information which will assist you. It is worth taking some time to read this guide. BBC […]
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The Government are considering implementing new measures to prevent gazumping What is gazumping? Gazumping is when a buyer has had an offer to purchase a property accepted by the seller but before the sale is completed the seller accepts another offer from a different person and refuses to sell to the original buyer. Is it […]
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Plans to ban leaseholds on new-build houses in England The Government are proposing bans on Leasehold houses with large ground rents under new proposals. In some cases ground rents double every 10 years making them escalate quickly. The proposals are subject to an 8 week consultation and will apply only to England. The proposals will […]
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You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England, Wales and Northern Ireland. The current SDLT threshold is £125,000 for residential properties and £150,000 for non-residential land and properties. You pay the tax when you: buy a freehold property buy a new or […]
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The BBC article below describes and important difference between Freehold and Leasehold houses. http://www.bbc.co.uk/news/business-38827661 With Leasehold houses you will pay a ground rent to the freeholder (normally once or twice a year). In some cases you may also pay a rent charge or service charge which is a payment used for the upkeep of common […]
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All clients should be extra vigilant when transferring funds to the bank account of their solicitors. A recent case which is linked below shows how things can go badly wrong. https://www.theguardian.com/money/2017/jan/14/lost-67000-conveyancing-scam-friday-afternoon-fraud-legal-sector-email-hacker In this case emails were hacked and this led to the deposit funds being sent to the wrong account. Our guidance is to ensure […]
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All homeowners should be vigilant when it comes to Land and Property they own especially when you are in a high risk category Take this example in the press recently http://www.bbc.co.uk/news/uk-england-manchester-38080102 Stockport identity fraud victim’s £500k home put on market. A Homeowner was shocked to find his property for sale on an auction site. Luckily […]
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How to Find a property: Research the area to ensure you are happy with it. Find a property by using Estate Agents and the Internet. Instruct a solicitor at this stage. Many people wait until they have found a property before instructing solicitors. We recommend that you do this when you first intend to buy […]
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All property owners should be vigilant about property fraud. Property fraud can affect anyone but you should check if you fall into one of these high risk areas your identity has been stolen previously you rent out your property you live overseas the property is empty the property is not mortgaged There are various types […]
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