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…
Most commentators now see us heading into a toughening economic climate which may well result in reduced demand for goods and services. This is compounded by the strains placed on many businesses who have had to restrict activities due to the recent virus outbreak. We have seen the Government take action to keep people…
It’s been a strange and challenging time for many of us. Every person has gone through their own lockdown experience with their own distinctive set of challenges ranging from illness, to child care and on to a sense of isolation. The loss of contact with friends and family has been a particularly hard burden…
A bill introducing “no-fault” divorces in England and Wales has passed through the House of Commons with a likelihood of it becoming law as early as July. Currently one person can start divorce proceedings immediately by alleging unreasonable behaviour, desertion or adultery against the other party. A ‘fault based’ divorce is therefore the only…
Businesses have responded very quickly to a fast changing economic and social environment. As a result of this many are having a good look at what they do and how they do it. Which in turn has involved a review of a wide range of practices and relationships. Many of these are supported by…
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…
The Prime minister recently outlined a change in status from ‘stay at home’ to that of ‘stay alert’. This represents the first step in the easing of restrictions, a process that we are told could be halted or reversed depending upon the control of COVID-19 within the general population. Further details are expected and…
Businesses large and small are currently looking at ways to borrow more to see them through the current lockdown. The recently announced ‘Bounce Back Loan’ scheme helps small and medium-sized businesses to borrow between £2,000 and £50,000. Under this scheme the Government will guarantee 100% of the loan and there won’t be any fees…
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…
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…