February legal news.
Well we cannot believe it is the last week of February next week. The weather is getting milder and spring is in the way.
Here are some legal news items.
Conveyancing: Stamp duty holiday
Currently until 31st March transactions at under £500,000 are exempt from stamp duty. However there are so many factors in the transactions including waiting for Lenders and searches that there is a likelihood that many will not complete in time.
However, even after 31st March first time buyers are still exempt from stamp duty up to £300,000.
Interest rates on mortgages are also still low so look at the cost of mortgages against what a rental would cost.
There are pressures on the Chancellor to extend the stamp duty extension so we are waiting for the budget on 3rd March?
There are still delays in applications for Probate and these also have an impact on the property market
All Divorce cases have to be applied for online now. The procedure is actually quite straightforward and good timing when we are mostly home based and not using paper and post so much.
Unfortunately it seems there has been an increase in divorces
Contact our team on 0238214880 for advice.