The use of Search Insurance
The Council of Property Search Organisations (CoPSO) has today written to the Law Society, The Society of Licensed Conveyancers (SLC), CILEx, BLG and CA and provided them with a note setting out when Search Insurance may be used as prescribed in the Search Code. With delays in the provision of searches now being a major […]
Welsh Land Transaction Tax shock increase
Starting today (22 December), a 1% increase in Land Transaction Tax (LTT) – the Welsh equivalent of Stamp Duty Land Tax – on second homes has begun. Meaning second-home owners pay a 4% levy when they buy homes up to £180,000. For homes bought over £1.6m, LTT increases to 16%. The change has been made […]
Stamp Duty: Why it might pay to wait and not rush to meet the deadline on March 31st
The Stamp Duty deadline is approaching on March 31st, with many potential buyers rushing to find a home before then to help increase savings on their property. However, it might pay to wait until after the Stamp Duty Holiday ends in March, and not rush to buy a property before then. There are many reasons […]
Extending SDLT holiday “critical” for the economy and property sector
The managing director of bespoke property search firm Index West Midlands says it is “critical” the government succumb to pressure to extend the Stamp Duty Land Tax (SDLT) holiday beyond 31 March next year “for the sake and future of the economy and the property sector”. “As the country has battled the consequences of lockdown […]