Home-buyers who turn to the “bank of mum and dad” and increasingly the bank of grandparents to buy their home to prepare for the all eventualities, as generous family members tighten their belts. Many people have no choice but to turn to parents or other family members to help raise a deposit for a house
With the stamp duty holiday for first-time buyers buying properties under £250,000 due to end on March 24, there could be a rush to buy amongst first time buyers. With lending from the major banks still cautious, first time buyers will inevitably turn to other sources, such as family members, for help to beat the
Three councils have lost their appeal for a judicial review of the Coalition Government’s decision to scrap the need for planning permission when converting single dwellings into houses in multiple occupation (HMOs). The need for planning permission was introduced in April 2010 by the last Labour Government after it had conducted a consultation with interested
Investors buying properties consisting of two or more flats could be spending far more than necessary if they don’t take advantage of a Stamp Duty Land Tax (SDLT) relief introduced in the Finance Act 2011. The change rectified the situation whereby if an investor bought a property containing several flats from the same seller, the
Ministers have announced plans to boost the construction industry and help people to buy a new home. The two key measures are a £400m ‘GetBritainBuilding’ fund and a scheme in which the Government will provide indemnity for mortgages of up to 95% of the value of new houses. The Prime Minister, David Cameron, described the
The Government has announced a number of reforms to end unfair practices which it says have been holding back Britain’s pubs. The proposals have been put forward by the Department for Business, Innovation and Skills (BIS) and are in response to the Select Committee’s Report on Pub Companies. They set out the details of a
The High Court has made it clear that having a business reputation is not enough to justify the protection of a trading name – the business must also be able to show that it has customers in the UK. The issue arose in the case of two online dating agencies. One was a free service
The Office of Fair Trading (OFT) has warned that consumer landlords are still being presented with potentially unfair terms in contracts with some letting agents. The warning follows the enforcement case last year against Foxtons for breaching the Unfair Terms in Consumer Contracts Regulations 1999 (UTCCR). Foxtons agreed to amend some of its terms concerning
The Government plans to release enough public land to build 100,000 new homes. Housing Minister Grant Shapps is urging developers to come forward to take advantage of this new opportunity which could help create 25,000 jobs by 2015. Mr Shapps has told Government departments with significant land banks that by this Autumn, they must publish
It is now four years since tenancy deposit protection schemes were introduced yet some people still don’t realise they are a legal requirement, according to the Residential Landlords Association (RLA). The RLA says it still gets calls from landlords and managing agents who have misunderstood the schemes and how they work. One landlord thought he