Weekly Summary 12th June 2020
House Number Plates …… last weeks announcement but slow to be circulated… there is talk of a registration for houses, giving a Unique Property Reference Number to each property, pretty similar to the method used to track cars and validate MOT, Tax and Insurance. This will be used to monitor the legal requirements for properties such as EPCs, deposit schemes, selective licensing as well as electrical and gas safety certification… so enabling letting agents and tenants, to validate, all are in place…. Could save a lot of documentation floating around…… Cost? Yet to be announced if there will be a charge – Watch This space!
Did you hope for a Stamp Duty Refund?…….. If you bought a second house from January 2017 but did not manage to sell your first one, then you will have paid the extra 3% Stamp Duty imposed on second home owners… you had three year ( January 2020) to claim that back…. Did you miss that deadline? Then you have a reprieve…
Don’t make silly offers when negotiating! ………. A London agent recently appealed to Buyers not to make silly offers on property, or buyers risk damaging their credibility with the seller and the agent. Really? Well agents would say that ‘wouldn’t they??’ … the vendor can always decline…
Post Covid Property predictions on the impact on the property market is well analysed……. Its possible to find a view on every aspect of property at the moment… sales, purchases, rentals …. Preference for out of town … preference for a garden… wherever there is data there is an analyst! This BBC article pretty well covers them all
We need First Time Buyers back….. How easy will the banks make it for those that have saved hard for their 10% deposit? Can the market move at all if we make it more difficult for them?
