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If you’re in the exciting position of buying a flat, that’s great news. It represents an important step on the property ladder – perhaps your first home, or the start of a new chapter in your life. Although flats offer buyers a number of advantages, there are some important things to consider when buying a flat, before you sign on the dotted line. A lot of this information will be included in the Leasehold Information Pack that will be available to you, but it’s always good to know in advance what to look out for!
One of the costs related to purchasing a new property is Stamp Duty Land Tax – most commonly referred to as Stamp Duty. It’s non-negotiable, depending on the value of the property you are buying. If you don’t pay, or get it wrong, you face a fine from HMRC, as well as paying interest on the tax you owe
Your new home – big or small, it’s the biggest investment you’re likely to make in your life. When you’re thinking about moving, it’s really important to make sure you know everything there is to know about your new home – not just the bricks and mortar but the area where your home is situated, and anything that might affect it, now and in the future.
You might not think that the mining of shale gas is something you need to be worried about if you are moving home, but if the property you are buying is in an area where fracking has been authorised, there are a number of things you should think about before proceeding, as fracking can have an impact on house prices and on the saleability of your new home in future.
If you’re considering buying a new home, particularly a new build property, you may have come across ‘leasehold property’ for sale on new developments. There has been quite a lot of bad publicity about leasehold property.
Thanks to our love affair with property-related TV, we know only too well that getting your property ready for sale involves a good deal of primping and preening to your home.
A campaign has been launched by a group of cross party MPs who wish to relieve this pressure on ministers over Brexit by forcing a parliamentary vote as to whether the UKs plans post Brexit should be revealed. Nick Clegg has argued that the date given by Theresa May is a “huge setback to Brexit negotiations” and that nothing meaningful will happen until the end of 2017.
It is extremely hard to predict what the long-term impact of the Brexit vote will be. This is particularly the case because the result was so close, with the ‘leave’ vote winning by 51.9% to ‘remain’s’ 48.1%.
Following the UK’s referendum, which resulted in a vote to leave the European Union, many people questioned whether the right outcome had been reached. After the decision had been announced, three million people called for a second vote, however to date no such referendum has been made.
Before the in-out EU referendum of 23rd June 2016, there was a great uncertainty over the impact that each outcome could have on the UK economy, including the housing market.