Claiming a stamp duty refund

Moving House Replacing a main residence For someone owning a second home before April 2016, the higher rates of stamp duty should not apply if they wish to move house. In this case as long as an individual has replaced their main residence at the end of the moving process, final stamp duty liability will…

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Homeowners overtaken by First-Timers

The number of first time buyers over the past year has overtaken the number of home movers for the first time in more than a decade. Over the past 12 months, the number of first-time buyers reached 345,000, according to latest figures from the Council of Mortgage Lenders (CML), the highest number since the start…

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rate interest Held

Interest rates held at 0.25%

The Bank of England left the base rate unchanged at 0.25% in it’s May meeting, but warned that rising living costs and falling wages will mean “challenging” times for many households this year. Members of the Bank’s Monetary Policy Committee, which sets interest rates, voted by 7-1 to keep rates the same, despite higher inflation….

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Leasehold Vs Freehold

If you’re looking to buy a home, it’s vital to understand the difference between buying a property which is freehold, and one which is leasehold. Let us explain the differences between the two, and the financial implications for homebuyers. Freehold When you purchase a freehold property, you’re essentially buying it outright. That means you can…

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House Price growth drops for second month

House prices fell by 0.4% in April, according to Nationwide Building Society’s latest House Price Index, the second consecutive month that prices have dropped. Annual house price growth dipped to 2.6%, the building society said, with the average house price in the UK now at £207,699. Annual growth is now at its weakest pace for…

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stamp duty pension freedoms

Stamp duty pension freedoms

Stamp duty pension freedoms, With the election fast-approaching, the Times reported that, once again, the Government is coming under pressure to change the stamp duty system. Recent figures from HMRC revealed a £1 billion increase in the amount raised in 2016/17, to a staggering £11.7 billion. There has also been a 30% in the number…

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