Stamp Duty holiday is a welcome boost to the Housing Market
The Chancellor of the Exchequer, Rishi Sunak, has announced Stamp Duty savings on properties up to the value of £500,000.00.
Stamp Duty will not be payable on property purchases by first time buyers or those purchasers replacing their main residences below the value of £500,000, provided completion takes place before 31 March 2021. The changes are effective from today, 8 July 2020.
Good news for the Housing Market
The housing market rebounds as sales increase by 137% according to a recent article in The Times. The paper also reports that more homes were sold last week than this time last year and buyer demand is 54% stronger than it was before the market was frozen on March 27.
Richard Donnell, director of research at Zoopla, the property portal, said that sales had risen by 137% since the market reopened on May 13. “The rebound in housing demand is not solely explained by a return of pent-up demand,” he said. “Covid has brought a whole new group of would-be buyers into the housing market. Activity has grown across all pricing.”
So whether you're a first-time buyer looking for Help to Buy support, remortgaging or selling and buying to move onto your next home, we are here to help you and ensure it is stress free. You will feel reassured knowing that you are being well advised and kept informed each and every step of the way.
Government announces new Divorce Law to end the Blame Game
On 9 April 2019 the government announced the long awaited changes to divorce law. For too long, divorcing couples have had to blame the other’s behaviour, or adultery, if they did not want to wait two years with consent, or five years without.
The highly publicised case of Owens highlighted the difficulties couples faced. She had petitioned for divorce after 40 years of marriage on the grounds of her husband’s behaviour which she found unacceptable. The husband defended and the case went to the Supreme Court where her appeal was rejected because of the current law. This meant that she would have to wait until they have been separated for 5 years.
The most senior Judge in the UK, Baroness Hale, was involved in the case and called for the laws to be overhauled as they were unjust. A public consultation resulted and new legislation will now be introduced to Parliament updating our 50 year old divorce law.
The current regime has been shown to increase conflict in an already difficult and emotionally turbulent period. This can adversely impact any children. Justice Secretary David Gauke said:
“While we will always uphold the institution of marriage it cannot be right that our outdated law created or increases conflict between divorcing couples”
The new proposals include:
- Replacement of the need to provide evidence of ‘fact’ of behaviour or adultery with a statement of irretrievable breakdown being the sole ground for divorce
- Retention of the two stages of decree nisi and decree absolute and the minimum 6 weeks and 1 day between
- Introduction of a period of reflection with a 6 month time frame (20 weeks) from divorce petition to finalisation
- The option of a joint application for divorce
- Removal of defended divorce
Currently there are over 100,000 divorces in England and Wales each year (ONS2018) with behaviour being the most common fact. Statistics show that children are adversely affected. The impact is often felt in the wider family with children losing contact with the family of the parent they don’t live with. These changes hope to minimise that conflict and help families move forward in the most positive way possible.
Janice Leyland is a highly experienced family lawyer and a member of Resolution. Resolution members are committed to reducing conflict and agreeing to work in a non-confrontational way that puts the interests of children first.
If you are considering divorce, take specialist legal advice on your particular issues. As well as the divorce, there are arrangements for the children to be considered, and agreed where possible, and financial matters to be resolved. This can be complex and lengthy, and early advice is vital to protect your interests and ensure a fair outcome.
To discuss how we can help resolve your particular issues, please telephone for an appointment on 01905 727700 or email firstname.lastname@example.org.
We’re delighted to have been shortlisted for the Worcestershire Law Society Awards 2020.
The shortlisted nominees are Elizabeth Rimell for Solicitor of the year, Dawn Hodgkins for Administrator of the year and Georgia Watkins, Paralegal of the Year. The winner will be announced at the forthcoming Legal Awards dinner on the 7th May.
Fingers crossed and well done to all of those shortlisted!