New rules on income tax relief for let residential properties will have a huge impact on small landlords. The Government announced that an additional 3% surcharge would be added to Stamp Duty / LBTT for those who own second homes and would be applied as of April 2016.
It is not just mortgage costs that you need to consider, there are a number of other major upfront costs associated to buying a property. From legal fees and surveys, to deposits and removal costs, have a look at our handy guide to find out what it really costs to buy a house.
There continues to be a high demand for properties in Edinburgh, and together with a spike in the value of city properties, it makes it a very attractive market for sellers.
With an increasing number of first time buyers finding it difficult to get on the property ladder, many are turning to buying with their friends. If you are buying a property with a friend or a family member, with the purpose of investing together, you should always make sure you have the appropriate agreements set up in advance.
Whether it is setting up a Will, financial planning in case you or your relative needs long term care or to go into a nursing home, or having a Power of Attorney in place, the time to take action is the present, before you need it. McQueen Legal, members of Solicitors for Older People Scotland, is currently offering a 10% discount on Wills and Power of Attorneys.
From saving a deposit to getting a mortgage to then getting your keys to your very first property, buying for the first time can be an exciting, and somewhat daunting, process. With years of experience finding clients their dream home, McQueen Legal has put together their top tips for those new to the process.
Angela Laird, advises on what costs you need to account for when buying a home.
Less CompetitionThere are fewer properties on the market at this time of year therefore it stands to reason that from a selling perspective there is less competition. Buyer demand will be focused on what is available- including your own home! If you wait until the New Year or spring, many sellers will have the same idea and your property may not stand out the same, especially if two or three others…