Polski Dzial House Price Index Reveals Scottish House Price Rise
The latest House Price Index has revealed that the average property price in Scotland in May 2016 was £141,142. This was an increase of 4.0% on the previous year and an increase of 2.8% when compared to the previous month. In comparison, the UK house price average was £211,230, which was an increase of 8.1% […]
Buy-to-let Borrowing Mortgages Increase Significantly
New figures from the Council of Mortgage Lenders have revealed that landlords took out 45,000 mortgage loans before the introduction of the new stamp duty increase in April. The number of loans in March rose by 142%, with buy-to-let loans up a whopping 88%. The increase in the number of buy-to-let loans was up over […]
Tenant Information Pack
From From 1 May 2013, a landlord will have a legal duty to provide new tenants with a tenant information pack will have to be provided for all new assured and short assured tenancies. This includes the renewal of existing tenancies where the landlord and tenant draw up a new lease. A tenant information pack […]
The Green Deal and its implications for Sellers and Purchasers & Landlords and Tenants
The Green Deal is established by The Energy Act 2011 and applies to Great Britain but not to Northern Ireland. The aim of the Green Deal is to improve the energy efficiency of residential and non-residential properties and enables householders to obtain energy efficiency improvements to their property (whether owned or tenanted) without having to […]
Reform of Stamp Duty Land Tax for Scotland
The Scottish Governments has introduced the Land and Buildings Transaction Tax (Scotland) Bill which is set to replace the current Stamp Duty Land Tax system currently operating in Scotland on land and property transactions. The proposed Land and Buildings Transaction Tax will take effect from April 2015 and will be a more progressive tax structure, […]
Decrease reported in the average price of homes in Scotland – Update from our Property Lawyers
Registers of Scotland have reported that the average price of a home in Scotland has dropped by 1.5% compared to the same period a year ago. In the third quarter (October to December) of the financial year 2012/2013 values for residential property averaged at £154,810.Meanwhile the number of properties changing hands over the same period […]
First time buyers’ relief from Stamp Duty Land Tax
The window of opportunity for first time buyers to benefit from relief from stamp duty land tax in transactions with considerations not exceeding £250,000 will close on 24th March 2012. Stamp duty land tax is ordinarily payable on the purchase of residential property at the rate of 1% for considerations over £125,000 but not exceeding […]