Capital Gains Tax – Beware The Transition Period
Christopher McNeill says: beware the transition period at the end of the tax year in which both reporting systems might apply to the sale of residential property. After 5 April 2020, any CGT due must be paid and reported within 30 days of the disposal of residential property being completed using the new online “real-time” […]
New Homes Ombudsman To End Shoddy Developments
The government are ploughing ahead with plans to introduce a New Homes Ombudsman. The government statement claimed the Housing Secretary is set to ‘clamp down on shoddy housebuilders’ by offering the new independent ombudsman increased powers to protect homeowners. Following concerns about redress and the time it takes developers to rectify issues if homeowners of […]
Housing Sector Crisis Solved By 2035
Estimates suggest that the current housing crisis gap will not be closed until 2035, based on the current speed of new build completions. The BBC has produced a briefing paper on the state of the housing sector, claiming that the current crisis is set to take 15 years to solve, and that is if the […]
January Mortgage Approvals Fall Slightly
First-time buyer activity increased in January whilst mortgage approvals fell slightly in the opening month of 2020. Small deposit borrowers, usually made up of FTBs gaining their first rung on the ladder by acquiring lower priced property, increased from 25.5 per cent in December to 26.7 per cent in January. This key demographic had 17,623 […]
500,000 Trapped In Unsafe Homes
Over half a million people could still be living in unsafe buildings clad in flammable materials. The analysis of apartment buildings by The Association of Residential Managing Agents (ARMA), found that the number of apartment blocks that had previously passed building control, are now housing more than 500,000 people. As more dangerous materials are added […]
Gap Between Buying And Renting At Its Lowest In A Decade
The overall gap between UK homebuying and renting has reduced to a 10-year low, according to the latest research conducted by Halifax. Although the research reveals that renters are still having to pay 18% more in specific areas of the UK. Homeowners in the UK are typically saving 3 per cent on average (£227 annually) […]