George Osborne unveiled a shock tax change in 2015 which will remove landlords’ ability to deduct the cost of their mortgage interest from their rental income when they calculate a profit on which to pay tax. Continue reading →
A survey by the Royal Institute of Chartered Surveyors (RICS) showed house sales continued to fall in the three months to the end of July, whilst the number of new instructions and buyer enquiries also dropped. Prices have fallen in London, the West Midlands, East Anglia and the North of England, but surveyors are forecasting that house prices and sales will rebound and increase over the next year. Continue reading →
In the last 2-3 years there have been a number of changes to the UK tax rules applying to the purchase of UK properties. The changing tax rules and how they interact gives rise to options and solutions to suit the client and his particular circumstances and requirements. One size does not fit all, and clients should be assisted as far as possible to make the right decisions. Continue reading →
Healys is pleased to announce that they are attending MIPIM Cannes 2016 from 15 – 18 March.
We have been attending the real estate event for a number of years and are looking forward to the networking and business opportunities at this year’s event.
Representing Healys will be three of our Partners;
If you would like to schedule a meeting with one of the team during the event, please contact Raana Malik on 020 7822 4187 or email Raana.Malik@healys.com.
Perhaps it is only a matter of time before residential conveyancing solicitors become exclusively used solely by the buy-to-let investor.
This, it would seem, is the outlook provided by a recent survey by Halifax which looked at the property aspirations of young people in the UK.
According to the mortgage lender, more than half of all young people living in rented accommodation (56%) had no plans to become active in the property purchase market, with only 43% saving for a deposit.
However, perhaps the most stark statistic taken from the survey is the 82% of people living in London who say that they will probably never be able to own a house, and given that the average property price in London rose by 17.4% last year, they may well be realistic in thinking that they will never need the services of a residential conveyancing solicitor.
“While there has been an increase in first-time buyers in the last 12 months, at the same time there is also a growing group of young people who believe they won’t be able to get a mortgage,” commented Craig McKinlay, Mortgages Director at Halifax.
He added, “This difference between the reality and their perception needs to be addressed urgently if we are to prevent people from giving up on getting on the housing ladder.”
However, interested parties will not yet be fooled into thinking that the house sales market is dead, just look at the speed with which well-priced properties move from the estate agents’ marketing sheets and you will soon see that buying and selling of family homes is still, for the time being, alive and thriving.
For more information about the services provided by Healys LLP residential conveyancing solicitors, click here.