Conveyancing Solutions

Conveyancing Solutions Launches ‘Skype’

admin — Fri, 24 Apr 2009 11:08:03 +0000

We all love something for nothing. With our new service you can now call Conveyancing Solutions for free from your computer and never have to worry about the cost, time or distance!

It’s really easy to call Conveyancing Solutions from Skype . Add us to your contact list and click on our name. To call Conveyancing Solutions for nothing, simply click the green button. This will start the call and you can talk for as long as you want, whenever you want for free. Read more about Skype here.

New Rules for Home Information Packs (HIPs)

admin — Mon, 06 Apr 2009 08:11:31 +0000

On the 6th April 2009, new rules came into force which means that home owners must have a Home Information Pack (HIP) in place before putting their property on the market. Previously, sellers could simply order a HIP before erecting a for-sale sign.

Vendors must also set out extra details in a new questionnaire, including Council tax band, structural alterations, flood risk, parking arrangements and lease details (for leasehold properties)

Interest Rates Cut to 3%

conveyancing-solutions — Thu, 06 Nov 2008 11:32:56 +0000

The Bank of England has today cut the interest rate from 4.5% down to 3%, much bigger than expected. The rate is now at it’s lowest since 1955, and the 1.5% cut is the most dramatic since a 2% reduction in 1981.

The Priminister has asked all banks and building societies to pass on the interest rate cuts to their mortgage holders. Lloyds TSB has promised to pass on the rate cut in full to its variable rate mortgage customers.

LLoyds TSB Announce HBOS Takeover

conveyancing-solutions — Thu, 18 Sep 2008 08:14:39 +0000

Lloyds TSB has announced details of its £12.2bn takeover of HBOS after Britain’s biggest mortgage lender lost half its market value in the past week and the government backed a deal. The deal values shares in Halifax Bank of Scotland at 232p each, and could lead to cost savings of £1bn a year.

Lloyds confirmed jobs would be lost as a result, but but played down claims that up to 40,000 staff faced the axe. Lloyds said the new bank would continue to use HBOS’s headquarters in Scotland and would focus on keeping jobs there.

Nationwide Announces Merger

conveyancing-solutions — Mon, 08 Sep 2008 09:32:00 +0000

The Nationwide Building Society has announced plans to merge with two of its smaller rivals, the Derbyshire and Cheshire Building Societies, after they individually approached the Nationwide to help them survive the economic climate and seek protection for their borrowers and savers.

Small lenders are under increasing strain with the credit squeeze and rising mortgage defaults and both firms said they expected to make a loss in the first six months of 2008 as a result of the declining UK commercial and residential property market.

The merger is expected to be completed by the end of 2008, subject to approval by the Financial Services Authority and the Office of Fair Trading, and will create an organisation with almost 15 million members.

Government Offers ‘Free’ Loans to First Time Buyers

conveyancing-solutions — Tue, 02 Sep 2008 09:59:38 +0000

The Government has today announced a package to help first time buyers onto the property ladder and, hopefully, kick-start the stagnant housing market. The new measures will form part of an emergency rescue package for hard pressed home buyers.

As well as shared equity schemes to help first time buyers, the Government has introduced interest free loans (called HomeBuy Direct) which will go towards part of the value of a newly built property. First time buyers with a household income of under £60,000 can now borrow up to 30% of the market value of their new home interest free, funded by the state and developers. Once the five year interest free period is over, homebuyers will be asked to pay a fee, although no more details of this was provided at the time of writing.

Who is eligible?

You must be a first time buyer, with under £60,000 household income and a clean credit record.

On top of this intitiative, the Government has also today said that it is suspending stamp duty for properties worth up to £175,000, which is £50,000 more than the current threshold. The suspension will come into force on Wednesday 3rd September, and be in place for one year.

Together with falling house prices, there is no better time to get onto the housing ladder.

Chancellor Announces 12-Month Stamp Duty Holiday

conveyancing-solutions — Tue, 02 Sep 2008 09:01:48 +0000

A stamp duty holiday was today unveiled by Chancellor Alistair Darling to help struggling home buyers through the credit crunch. For a period of 12 months, properties worth up to £175,000 will be exempt from stamp duty land tax. This is a temporary raise of the current threshold from £125,000 to £175,000.

The latest house price figures from Nationwide Building Society put the average cost of a home in the UK at £164,654, below the new stamp duty threshold. It will save buyers up to £1,750 when they purchase a house.

Currently, those buying properties between £125,000 and £250,000 pay one per cent in stamp duty. For homes more than £250,000, it jumps to three per cent of the entire purchase price. Homes worth more than £500,000 incur a four per cent rate.

Stamp duty rakes in £6.5 billion for the Treasury - with Londoners paying by far the biggest burden.