First-Time Buyers Paying 12% Help to Buy Property Premium
First-time buyers (FTBs), using Help to Buy, paid an average of 12% more for their property when compared with independent buyers. According to the data, collated by Reallymoving.com, the 44,000 FTBs using Help to Buy that requested reallymoving for quotes on home services, paid £303,000 for their new home in February. In comparison, first-time buyers […]
Will The Recent 14-Point Pledge End Onerous Leasehold Terms?
Written by Beth Rudolf, Director of Delivery at the Conveyancing Association On the face of it, we recently had a very positive step forward in terms of helping existing leaseholders, with the announcement by Housing Minister, James Brokenshire, that 40 house builders/developers had signed up to a 14-point pledge designed to ‘end the practice of […]
SRA Report Criticises Conveyancers’ Communication With Buyers
The SRA’s recent Residential Conveyancing Thematic Review was damning reading for the handful of conveyancing firms that were failing to provide adequate information to their clients concerning the different types of property ownership and potential buyer implications. According to the report, 23% of the firms that were targeted and formally observed did not explain the […]
Frustrated New-Build Owners Demand Retention Scheme
90% of new-build home buyers believe the only way they can ensure developers rectify snags and home defects is to withhold a significant amount of the property’s value. Persimmon are the first of the developer juggernauts to present buyers with a ‘snagging retention’ process. Under their new scheme, buyers will be able to keep hold […]