14 May 2010 by Sarah Davies

Coalition Conveyancing

Well it’s finally over, and we have a new coalition government! We’ve heard the policies but what does that mean for you if you are thinking of moving home and what are the implications for the conveyancing process as a whole? Here is a brief look at the issues that were contained in the Conservative and Liberal Democrat manifesto relating to buying and selling your home:

Conservative

  • Maintenance of the Stamp Duty Land Tax threshold of £250,000.00 for first time buyers and making it a permanent change (it currently expires on 24 March 2012)
  • Abolition of Home Information Packs
  • Promotion of ‘Shared Ownership’ schemes whereby you own a percentage share of your property and rent the remainder
  • Construction of more affordable housing

Liberal Democrat

  • Introduction of ‘Safe Start’ mortgages which would be government backed loans protecting borrowers from the collapse in lending from banks and building societies
  • Change to the powers of the courts when dealing with repossessions so that mortgage lenders cannot repossess unless it is absolutely the last resort
  • Bringing the 250,000 empty homes in the UK back into use
  • Closing Stamp Duty Land Tax loopholes
  • Introduction of a new ‘class of use’ to second homes so that local authorities have the power to control the number of homes owned by holiday makers

Now that we have a coalition, it is unclear which of the above policies will be implemented. So far with regard to conveyancing, the coalition agreement only mentions the abolition of Home Information Packs (Energy Performance Certificates will be retained). As to the other issues in the two manifestos, we will just have to wait and see how our Lib/Con government will agree as to who’s policy is best before we can be sure what other changes will be made to housing, moving home and the conveyancing process.

4 May 2010 by Lynne Burdon

We have today launched a new comprehensive solution for our Private Clients

We have today launched a new comprehensive solution for our Private Clients.

7 May 2010 by

It’s decision making time or else…

Are you a tenant of a property under a lease which is simply too large for your purposes or one you no longer need, or do you need to reduce rent, rates and other liabilities.

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