News
General Permitted Development Rights
Householders currently enjoy significant permitted development rights which largely remove the need to apply for planning permission for someone looking to alter or extend their home within certain ‘permitted development’ levels.
Under Planning legislation as a general rule all developments require planning permission. However, certain types of development are low impact and it is considered unnecessary for those people wishing to carry out such developments to make an application for planning permission. The permitted development rights therefore save time and resources by ‘automatically’ allowing certain types of development thereby reducing the burden on the householder and council alike. .
Stamp Duty Land Tax Threshold raised to £175,000
Stamp Duty Land Tax is to be axed for one year on properties costing less than £175,000 in an effort to provide a boost to the housing market.
The increase in the level at which Stamp Duty Land Tax is paid (from £125,000 to £175,000) comes into effect on Wednesday 3rd September 2008 for a period of twelve months.
Energy Performance Certificates for Rented Properties
From 1st October 2008 all landlords in England and Wales will be required to provide an Energy Performance Certificate for their property. Failure to do so will incur a £200 penalty.
Under new legislation, landlords without an EPC cannot market their property to prospective tenants.
A Helping Hand on the Property Ladder
As the property market continues on its downward trend and mortgages become harder to secure, parents may be caught up in the decision of whether to assist their children in purchasing their first home.
First time home buyers are finding it increasingly difficult to raise funds for a deposit and the associated costs in purchasing and parents are often the first port of call when the ideal property is found.
Every Cloud.....
Over recent weeks you cannot have escaped stories in the press predicting doom and gloom for the property market. There is no doubt that over recent months there has been a tailing off in the level of activity in the property market generally. However, it is not all bad news.
With property prices stabilising and settling at a less inflated level than we have seen in recent years, now is a good time to consolidate, to make those improvements to your home which will make them more valuable and more marketable when the market does pick up. This is particularly true for leasehold properties.
Rights of Light Seminar - 4 June 2008
On 4 June Ashworths held the latest in their series of developer orientated seminars.
The seminar was presented by Andrew Frances, a leading Barrister specialising in Rights of Light claims.
Home Information Packs
The Government has recently announced that Home Information Packs (HIPS) are to be extended to 1 and 2 bedroom properties from 14 December 2007. This announcement follows the magnificently poorly managed introduction of HIPS for larger properties earlier in the year.
You now need a HIP before your property can be marketed, regardless of whether it is a small flat or a larger house.
