Chancellor Rishi Sunak delivered the 2021 Budget, which extended several Coronavirus support schemes and outlined plans for the country’s post-pandemic recovery.

With less than a week to go until the next Budget, on 3rd March 2021, speculation is rife as to what Chancellor Rishi Sunak may announce. With the pandemic affecting the country for more than a year, there are likely to be numerous Covid-related support measures announced.

Coupled with operations restrictions, the stamp duty holiday has slowed almost every part of the conveyancing process. Surveyors, mortgage lenders, search agencies and conveyancing lawyers are struggling to meet demand which means that the average property transaction completion time has increased from 12 weeks to 16 weeks. As a result, current new buyers are unlikely to meet the March 31st deadline to take advantage of the stamp duty holiday.

Separation is never easy, but if you and your former partner own property together, the situation can be even more complicated.

You may not be aware that you do not have to pay Capital Gains Tax when selling your home, but the detail of the rules are a little more complex than this though.

Residential property contracts will be governed by the Law Society’s standard conditions of sale. These conditions do not include any provisions to expressly cover the event of a pandemic or epidemic, or otherwise the death or serious illness of a party.

While every transaction is different, it will generally take 2-3 months from the date a buyer is found to the buyer getting the keys, i.e. completion. Taking into account that lead-in time, there is logic in sellers still trying to get their house sales tied up now, and we continue to be instructed on new deals.

Moving house can be stressful at the best of times, but the current unsettled situation surrounding Coronavirus brings with it a set of new challenges and uncertainty.

A concern for a property owner with vacant land and buildings is the possibility of third parties taking up residency on that land or within a building.

The Government has announced plans to tackle unfair leaseholder arrangements on new build properties, but in the meantime, as the Spring housing market gets into full swing, it’s worth understanding the difference between freehold and leasehold property. 

Buying your home is probably the most expensive investment that you will ever make so it pays to get the right advice. As one of the oldest and largest firms in the South West, we aim to provide you with a swift and expert service at a competitive price.

A child may feel torn between both parents or angry and one or both parents for the relationship breaking down. Every situation will be different and depend on the unique circumstances of the family unit, but it should be everyone’s concern that the children are protected from any animosity between the parents.