Shared ownership was introduced to give lower-income families and key the opportunity to get on the housing ladder. Shared ownership, ie: initially owning between 25 and 75 per cent of your home, can open the door to home ownership but depending on your stake and whether or not you intend…
It will soon be possible for leasehold property owners to buy the freehold of their property more easily under plans for an overhaul of a stressful and costly system currently in place. At present as a leaseholder, you must wait two years before buying the freehold to your property and…
It is reported that Bank of England governor Mark Carney has told a cabinet meeting that house prices could drop by 35 per cent in the event of a no-deal Brexit. Clarifying these comments he said a housing slump was used as a worst-case scenario in for British banks. Mr Carney, who…
Changes to the Regulatory Arrangements and Code of Conduct – How to comply with the new regulations resulting from the CMA recommendations In December 2016, the Competition and Markets Authority (CMA) Published its Legal Services Market Study. It highlighted problems of transparency of price and quality and that consumers did…
The average UK property transaction takes on average almost 7 weeks longer than expected due to the absence of conveyancers, according to new research. 30% of homebuyers experienced an average delay of 6.4 weeks because their conveyancing solicitor was not in the office. 25% were not informed when their lawyer…
Property prices in the UK are falling both monthly and annually, with an average value of £214,745, according to the latest lender index. Price growth in the 12 months to August 2018 fell to 2% from 2.5% in July and month on a month values were down by 0.5%, the…
UK house prices picked up In July, rising at its quickest since November, the Halifax has said. Halifax says prices during May, June and July rose by 3.3% compared to last year, with the average cost of a house hitting a record £230,280. Prices in July rose a higher-than-expected 1.4% from the month…
The number of property sales agreed per branch of estate agents rose from eight in May to nine in June, the summer transactions are completing, says the NAEA Propertymark’s June Housing Report. However, this is 18% lower year-on-year than when agents agreed a total of 11 sales per branch. Sales…
The building industry in England and Wales needs to increase the construction of new homes by almost 82,000 per year to meet Government target of 300,000 per year by the mid 2020s. This will deliver a huge boost to the British economy raising building activity by 74% in the last…
The uncertainty surrounding Brexit has driven up the cost of overseas property, according to Hargreaves Landsdown Currency Service. Despite house prices in Spain still being 16% lower than they were in 2010, British buyers do not particularly benefit thanks to the falling pound. The drastic decline in the price of…
