Raeside Chisholm Solicitors Blog

Recent research has shown that economic uncertainty caused by the Corona Virus has led to more people investing in property. Data shows that property investors bought twice as many homes in the first quarter of 2021 as they did during the same stage last year.  In fact, investor purchases increased by 111% year on year and there were 63% more homes sold in the UK during the first three months of 2021.

Previously many Estate Agents had indicated that in their view house price growth would remain flat this year, as the economy floundered after the successive Covid lockdowns and the end of furlough.

After closing to new applications in October 2020, the First Home Fund is reopening and will be available for purchases from 1 April 2021 and completed before 31 March 2022. This article will look closely at how the scheme works, the eligibility requirements and provide you with all of the key information you need to know.

The most affordable towns and cities in Britain to buy a property have been revealed, with Scotland dominating the rankings.  Zoopla have published their findings, which they have based on calculations on house price to earnings ratios, using two-earner households on average salaries for the local areas.  In the whole of the UK, towns in Ayrshire have dominated the list with Kilbirnie and Cumnock ranking in third and fourth place respectively.

The Finance Secretary, Kate Forbes, has indicated that a tax cut for Scottish homebuyers will end as planned on April 1^st, despite an extension in the Westminster budget. The starting point for Land and Building Transaction Tax (LBTT) was increased during the first lockdown. Unlike the position in England however, this is not going to be extended to mirror the Stamp Duty cut extension in England and Northern Ireland, on the basis that the cut has already “achieved” its goal of supporting the recovery of the residential property market.