Residential Property

Section 21

Abolition of Section 21 – New Grounds for Possession

  Back in June 2022 the Government published its White Paper ‘A Fairer Private Rented Sector’. This document has stirred much debate but unusually it seems to have fairly wide political approval. The Royal Assent of the Bill is unlikely to happen before the end of the first quarter of 2024 which would mean the…

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pictons property app

High Uptake of Pictons Property App

  Pictons recently launched its innovative conveyancing app for residential property clients. The uptake of the app has been fantastic with approximately 85 % of residential property clients now using the app. The app offers considerable benefits for clients including live updates and notifications saving time normally spent on emails and phone calls. It also…

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leasehold changes

Leasehold changes set to benefit up to 4.5 million people

  The government has recently announced that it plans to give leaseholders the right to extend their lease to 990 years. Currently houses occupied under a lease can only extend their lease once for 50 years, whilst flat leases can be extended as often as required, with a zero ground rent for 90 years. Furthermore,…

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House Moves Still Permitted During 2nd Lockdown

House Moves Still Permitted During 2nd Lockdown

  Despite the recent announcement of a second ‘lockdown’ in England, Robert Jenrick, Secretary of State for Housing, Communities and Local Government has said that the housing market would still be able to operate. All involved in the conveyancing process will of course have to operate using Covid secure practices however, it has been confirmed…

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stamp duty

Stamp Duty Holiday Announced – Pictons Ready to Respond

  The Government has announced that to boost the property market, there will be a temporary stamp duty ‘holiday’ on the first £500,000 of all residential property purchases in England and Northern Ireland where the property is the main residence. This will apply throughout 2020 coming to an end in March 2021. Stamp duty is…

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couple buying a house

Property Market Opens for Business – Pictons Ready to Respond

  The government has recently announced that estate agents can now re-open, viewings can be carried out and removal firms and conveyancers can restart operations. This is all subject to the social distancing and health and safety regulations that are now in place. The BBC has estimated that there are approximately 450,000 buyers and renters…

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auction gavel

Property Auctions – opportunity or risk?

  Property auctions could be set to rise as we come out of the pandemic. The impact of the lockdown may require property owners to change strategy and seek to dispose of stock superfluous to requirements.  Many pubs and restaurants if unable to trade until December could be severely impacted and investment owners may look…

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housing market

COVID-19 and the Housing Market

  Reasons to be optimistic in the mid-term? One positive is that low interest rates should be available for a while and will likely be held low until the economy recovers. Although it is possible we could see some inflation as a result of quantitative easing, it is unlikely to happen quickly with businesses being…

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new house keys in hand

House Prices on the Move

Recent statistics suggest that the housing market is showing price increases across the country. The North appears to be leading the way although the London area also saw increases. Interestingly there are some quite strong regional disparities with property values increasing by 300% more in Yorkshire as in south-east England. Information from the Land Registry…

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key in hand

Leasehold Property in the Spotlight

The leasehold sector has recently been in the spotlight again following a Competition and Markets Authority (CMA) investigation. The findings suggest that some buyers continue to be unclear as to the nature of their purchase and subsequent costs that they may incur. The CMA said some homeowners found themselves in “serious traps” after being misled…

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