Lenders relaxing rules on indemnity insurance for local searches

Lenders relaxing rules on indemnity insurance for local searches

Since the COVID pandemic began the processing of local searches by local authorities has slowed considerably and, in some cases, has ground to a halt. An alternative to a full local search result is the availability of indemnity insurance but most lenders will only...
Leasehold Reform

Leasehold Reform

The Law Commission has published its leasehold reform report and amongst its recommendations are the following: An improved form of Commonhold ownership. Commonhold was introduced about twenty years ago but never took off. It enables leaseholders to own the freeholds...
Capital Gains tax changes for residential property

Capital Gains tax changes for residential property

A reminder that the rules for paying Capital Gains tax after selling qualifying residential property are changing from 6th April 2020. From this date, any UK resident must inform HMRC about the gain and the tax must be paid within 30 days of completion. This...
Stamp duty surcharge for overseas buyers in 2020 budget

Stamp duty surcharge for overseas buyers in 2020 budget

The Chancellor has announced in his budget of 11th March that there will be a 2% stamp duty surcharge on the purchase of property by non-resident overseas buyers. The change will come into effect on 1 April 2021 and is payable in addition to the three percent...
Digital mortgage services reaches milestone

Digital mortgage services reaches milestone

The Land Registry has announced that the 7000th re-mortgage deed was signed and registered digitally in February 2020. This follows the registration of the first digital mortgage in April 2018. This service was introduced by the Land Registry to reduce paperwork and...
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