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Property & Litigation

Shared ownership homes to become easier and quicker to sell

It could soon be easier for people in shared ownership homes to sell their property. The government funded schemes enable people to buy a share in a property, with a registered housing provider owning the rest. Typically, a purchaser may buy a 50% share in the home with the option of increasing their stake if and when they can afford to do so. Under the current system, when someone wants …Read More

First-time home buyers get 20% off

New homes are to be offered at a minimum 20% discount to first-time buyers under the age of 40. The Starter Home initiative is a government scheme to help young people on to the housing ladder and encourage construction firms to build more homes. It’s hoped that up to 100,000 buyers will benefit. The initiative is being made possible by a change to the planning system. The idea is to …Read More

Changes to mortgage laws will further protect borrowers

Banks must now adhere to a new set of rules when considering someone for a mortgage as the government tries to prevent borrowers over-stretching themselves as some have done in the past. Under the new legislation, most borrowers will be given advice from a financial expert before they take out a mortgage. This will give consumers a better understanding of how much they can afford to borrow, taking into account …Read More

Now you can save thousands when building your own home

Now you can save thousands when building your own home People building their own homes could save thousands of pounds following the government’s decision to exempt self-built accommodation from the Community Infrastructure Levy. Developers have to pay the levy to local councils to help with the cost of the infrastructure needed to support new buildings.

Social tenants to receive more help to buy their homes

Social tenants to receive more help to buy their homes The government wants to make it easier for tenants to purchase their homes by improving the Right to Buy scheme. Currently, council tenants who want to buy their homes can qualify for a discount of up to 60%, depending on how long they have lived in the property. This is to rise to 70%. The maximum sum that can be …Read More

Help to Buy Scheme

Helping first time buyers onto the property ladder…. Help to Buy scheme helps 15,000 people to own a new home The Help to Buy: equity loan scheme has so far helped more than 15,000 people to own a new home. The government scheme came into effect on 1 April 2013 and applies to new build properties only. To qualify, you need a minimum deposit of 5%. The government will then …Read More

Squatting has become a criminal offence in England and Wales.

It follows on from a public consultation last year on options for dealing with squatting and better protecting homeowners. The new offence will be punishable by a maximum prison term of up to six months, a maximum £5000 fine or both. Previously, the only option was to seek a civil court order to regain possession of the property, which could be time consuming, expensive and stressful. Justice Minister Crispin Blunt …Read More

Owning Property in Joint Names

This article is taken from the Land Registry’s website and aims to clarify the two types of Joint Ownership of property. If you own your property jointly, either as a married couple, partners or friends, you will have chosen one of two kinds of ownership. You will own your property as either beneficial joint tenants or tenants in common. This is the case whether you own the property as freeholders or leaseholders. …Read More