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Navigating Changes in Property Taxation: An Overview of Recent Updates

Mar12

Navigating Changes in Property Taxation: An Overview of Recent Updates In the dynamic landscape of property taxation, staying informed about legislative changes is paramount for property owners and investors alike. Here, we delve into the latest updates impacting property taxation in the UK.   Capital Gains Tax (CGT) Adjustments The realm of Capital Gains Tax (CGT) is witnessing adjustments, particularly concerning residential property sales. Effective from April 6, 2024, the higher rate of CGT applicable to residential property gains will be reduced from 28%

March 12, 2024
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Buyer, Seller, Sealed Lips: Why Direct Communication During Conveyancing Process Can Be Risky

Feb04

As you may know, buying or selling a property is a thrilling, yet stressful process. With legal complexities and emotions running high, it is often tempting to reach out to the other party directly to smooth things over or seek some answers. But there is no need to rush. While open communication is generally great, direct contact between buyers and sellers can cause serious issues during property transactions. Here’s why: Misinformation Mayhem: Buying and selling property involves many complicated legal rules.

February 4, 2024
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Exploring Property Ownership: Freehold, Leasehold, and Share of Freehold

Dec22

Exploring Property Ownership: Freehold, Leasehold, and Share of Freehold When venturing into the realm of property ownership, one of the most important decisions you’ll face is the type of ownership that best aligns with your needs. In England and Wales, there are three main types of ownership: freehold, leasehold and share of the freehold. Each type of property ownership has its own advantages and disadvantages, so it’s important to understand the key differences before making an informed decision. This blog post

December 22, 2023
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Understanding Source of Funds and Source of Wealth in UK Property Transactions

Nov15

In the dynamic world of property transactions, the meticulous examination of the source of funds and source of wealth is paramount. RSL LAW, equipped with extensive expertise, delves into these crucial concepts to provide clarity and guidance for buyers navigating the intricate landscape of the UK real estate market.   Source of Funds: Unveiling the Origins of Purchase Capital When venturing into a real estate purchase in the UK, buyers are obligated to disclose the origin of the funds earmarked for the transaction.

November 15, 2023
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RENT TO RENT AGREEMENTS

Oct04

The words spoken by every aspiring or well learned property investor in the market today… A property strategy which is becoming increasingly popular in the UK property market. It’s an attractive approach aimed at the potential investors who may not have sufficient capital to purchase investment properties outright or some experienced property investors who simply wish to creatively expand their property portfolio by providing them with: – A flow of rental income which builds up a nest egg for bigger investments. High returns

October 4, 2023
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LEASE OPTIONS

Sep20

Lease Options are here to revolutionise the ways in which you buy Investment Property. The Lease Option Magic combines renting and buying into one unique package.   HERE’S THE LOWDOWN, You start with a lease agreement, just like renting any property, it covers rent, the duration of your stay, the lease term, and who handles repairs. However, alongside the lease agreement you also get the “Option” to buy the investment property at a fixed price during or at the end of your lease

September 20, 2023
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Coronavirus increases demand for expensive real estate

Oct05

Traditionally, sales of more expensive homes have always been slower than sales of other properties. However, this year, according to the UK’s largest real estate website Rightmove, homes worth £ 1 million or more are selling at the fastest pace since 2014 and are the leaders in the real estate market. The number of sales of such houses has more than doubled, and in general, the number of agreed transactions in the real estate market has grown by 61% compared to

October 5, 2020
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Selling a residential property – the Timeline

Sep25

If you’re selling a residential property, these are the steps you’ll need to take. The timeline below assumes there is not a chain on the property. Putting your property on the market – Week 0 The first step to selling your property is putting it on the market. Normally, this is done via an estate agent who will advertise your property, arrange viewings and put up a ‘For Sale’ sign outside your house. During this stage, people will come to your property for

September 25, 2020
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Buying a residential property – whether you’re a first-time buyer or not, here is the Timeline for your purchase

Sep25

Finding a property – Week 0 When you’re purchasing property, you’ll likely want to view multiple properties to make sure you find the perfect house or flat. If you do, take a look at our property search guide. In the UK, this process generally takes 8-12 weeks, at the end of which you’ll make an offer on a property. Making an offer – Week 8-12 Once you’ve made an offer on a property and it has been accepted, it’s time to sort out the

September 25, 2020
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Buying a new-build- what if you can’t complete your purchase?

Mar26

The legal process involved in buying an apartment in a new development differs significantly  from the purchase of an existing property from an individual seller. It is often the case that, at the time of exchange of contracts, when your signed contract is sent to the seller and you receive the seller’s signed version,  construction of the building and your apartment is not finished. Completion of construction normally takes place at a later date and is confirmed by a certificate sent to your property agent and your solicitors, together with a notice

March 26, 2020
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