Recently, the annual budget has been the precursor to several changes to the buying and selling of houses and the property market as a whole.
Conveyancing solicitors in North Wales can answer questions on these amendments and will anticipate that they will be busier than ever when intended planning reforms are implemented, allowing more houses to be built and increasing national housing stock.
Other matters such as stamp duty will also have an impact on the housing market. New and first-time home buyers, for example, will no longer have access to reduced stamp duty rates. Another change is the reduction of the threshold for paying this tax, which will change from £250,000 to £125,000, meaning more house buyers will be liable for paying these additional monies.
Legal experts can also provide help with matters such as the Freehold Reform Act 2024. This covers freehold and leasehold status with the intention to eventually phase out the concept of new leasehold homes. This change is likely to affect people living in flats or apartments who would normally have to pay often large sums of money for costly extensions to their leasehold.
Solicitors in Porthmadog might provide advice to those looking to buy to rent to consider the changes to the Renters Rights Bill, and how this will strengthen the rights of those renting their properties.
Make an appointment to see one of our legal experts here at Bennett Smith Solicitors today and have a discussion about buying or selling your property.
