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Archive for the: Property category

The 5 Day Conveyance

Posted by on April 6th 2016 in Blog Posts, Property

The 5 Day Conveyance

Due to the rise in stamp duty for second home and buy to let properties on 1st April, Kitsons saw a huge rise in conveyances going through by 31st March.  One particular transaction took just 5 days to process. 

The property in question was a holiday let in Cornwall and was being sold to an investor.  As a previous client of Kitsons, we used our facility of scanned history documents from the database to collect the searches and relevant information to complete in the record time of 5 days.

If you are looking to buy or sell a property, please do not...

Important Changes to Section 21 Notices

Posted by on September 21st 2015 in Blog Posts, Litigation, Property

Residential Landlord and Tenant

The Deregulation Act 2015 (“DA”)  received its Royal Assent on 27th March and has changed the law regarding how landlords can use a section 21 notice.

The main changes come in on 1st October 2015.

One of the aims of the DA was to prevent landlords using Section 21 notices to evict tenants in retaliation for complaining about the condition of the property.

The new laws now state that from 1st October, if the landlord serves a section 21 notice on a tenant in response to complaining about the condition of the property, the tenant can report the matter...

SDLT Changes: How Will It Affect You?

Posted by on December 3rd 2014 in Blog Posts, Property

SDLT Changes: How Will It Affect You?

From 4 December 2014 (effective from midnight tonight) Stamp Duty Land Tax (SDLT) rates for residential properties will only apply to the part of the property price that falls within each band.

It was announced in today’s Autumn Statement that the old ‘slab’ system will be replaced so home buyers pay the tax at gradually increasing rates on tranches of the total value of the property – similar to income tax – rather than a single rate on the whole transaction, eliminating the steep jump in tax paid when properties cross, for example, the £250,000 threshold.

Buyers will pay no stamp duty on...

Lease Permitted Use Restrictions Can Breach The Competition Act 1998

Posted by on September 1st 2014 in Blog Posts, Property

The Central London County Court has ruled that a user restriction in a lease breaches the Chapter I prohibition in the Competition Act 1998.

The Chapter I prohibition prohibits certain agreements that are deemed to be anti-competitive. These include agreements that have an effect on trade and restrict competition. Since 6 April 2011, the Chapter I prohibition has applied uniformly to all land agreements without exception, in just the same way as it applies to any other type of agreement.

Article 9(1) of the Competition Act contains criteria for agreements to be exempt from the Chapter I prohibitions.

It is relatively common for...

Tenants Beware - Break Clause Date and Rent Refunds

Posted by on August 29th 2014 in Blog Posts, Property

In the recent case of Marks and Spencer plc v BNP Paribas Securities Services Trust Company (Jersey) Limited and another [2014] EWHC 1279 (Ch) the Court of Appeal considered whether a tenant who has exercised a break right should be refunded rent and other payments relating to the period after the break date.

Generally for a break notice to be effective, a tenant will have to ensure that the rent and other payments (eg. insurance rent, service charge, interest etc) are paid up-to-date in accordance with the terms of the lease. This may well include paying the rent and...

Estate Agents and Sellers - Property Information Legislation Changes

Posted by on June 10th 2014 in Blog Posts, Property

Estate Agents and Sellers - Property Information Legislation Changes

Estate agents and house sellers now have a duty to inform potential buyers and even potential property viewers about certain information that may affect their decision to purchase a property and land.

The Consumer Protection from Unfair Trading Regulations (SI 2008/1277) (‘CPR’) came into force on 26 May 2008, and these Regulations primarily deal with business-to-consumer practices. In addition the Business Protection from Misleading Marketing Regulations 2008 (SI 2008/1276) (‘BPR’) came into force on 26 May 2008 and primarily deal with business-to-business advertisements and activities.

In light of the Property Misdescriptions Act 1991 repeal taking effect on 1 October 2013, and effectively...