Buying a house with an annexe and Stamp Duty Land Tax
Before you bid for a houses with an annex you need to carefully consider the amount of Stamp Duty Land Tax (SDLT) you will have to pay; it is complicated.
Legal Updates
Leasehold Reform (Ground Rent) Act 2022 – Royal Assent
In 2018, the then Secretary of State for Housing, Communities and Local Government, Sajid Javid announced a “crackdown on unfairly sold practices” that would include setting ground rents on new long leases to zero and working with The Law Commission to make the process of purchasing a freehold or extending a lease of a flat “much easier, faster and cheaper”.
Significant Changes for Landlords and Tenants being Introduced by Renters (Reform) Bill
A new Bill which will fundamentally change the way renting residential property in the UK works is currently going through its second reading in the House of Commons.
If enacted, Assured Shorthold Tenancies will be scrapped and all new tenancies will be Assured Periodic Tenancies. The Section 21 ”No fault” process for recovering possession will no longer exist and so landlords will only be able to recover possession by using the existing Section 8 procedure and proving their ground for recovery of possession. It is proposed that new grounds for recovery of possession will be added including where the landlord wishes to sell the property.