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Archive for November 2018

Most new homes to be sold as freehold – leases capped at £10

Most newbuild homes will in future be sold as freehold, while leases will be capped at £10.   The new measures are part of a government clampdown on unfair practices in the housing market.   Communities Secretary James Brokenshire has launched a consultation on plans to improve the leaseholder sector, which will bring an end…

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Court orders sisters to pay £325,000 to dead father’s partner

Two sisters have been ordered to pay their dead father’s partner £325,000 from his estate, worth approximately £1m.   The court heard that James Redmond had made a will 20 years ago leaving everything to his two daughters.   However, since making the will he had formed a relationship with Carole Anne Taylor after meeting…

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Stamp duty boost for first-time buyers of shared-ownership homes

Stamp duty for first-time buyers of shared-ownership homes costing up to £500,000 has been abolished by Chancellor Philip Hammond.   Shared ownership is the system in which a person owns a percentage of a property, typically between 25 and 75%, and a housing association owns the rest. The scheme makes it possible to buy all…

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‘Giveaway budget’ but no rise in inheritance tax allowances

Chancellor Philip Hammond surprised political commentators by producing what’s been described as a “giveaway budget” featuring tax cuts and increased public spending.   While many people will welcome the increase in personal tax allowance and extra funds for services like the NHS, there was also some disappointment that there was no increase in inheritance tax…

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