“Housing Crisis”! “Deposits hit £80,000”! “First Time Buyers priced out of the market”!, scream the latest headlines. It’s little wonder that so many people trying to make the leap onto the property ladder are disillusioned when they are bombarded with the media outcry. However, delve a little deeper and you’ll see it’s not so black and white, there are two sides to every story;

As announced in the Autumn statement, 1st April 2016 is to bring about some radical changes in the application of Stamp Duty in residential Conveyancing transactions. In an attempt to combat the age old problem of housing stock being purchased by investors and landlords therefore preventing first time buyers from entering the property market, the changes are set to hit where it hurts...in the pocket!

The beginning of December 2015 saw the launch of a new Government backed scheme aiming to help those trying to get on to the property ladder for the first time. People struggling to save for their first home are now being offered a help-to-buy ISA which will give them a cash boost towards the deposit on their first home. As with the traditional cash ISA, interest will be free of both income and Capital Gains Tax, but the really good news is that the Government will also top up the savings in these accounts.

If you ever hear anybody talking about buying their first home it is almost always accompanied by a look of wild excitement and fear. With so much to consider it is no wonder first time buyers have lots of questions about the process. Which house to buy? North facing or south facing garden? Driveway or garage? New-build or flat? Solicitor’s fees, stamp duty, deposit – the list is endles

The first Conservative only Queen’s Speech in nearly two decades brings with it the news that the Conservative Government are to extend the Right to Buy Scheme. First introduced in the 1980’s, the scheme has allowed council house tenants to buy their properties at a discount and now the Conservative Government want to extend the scheme to 1.3 million housing association tenants as well. When the Housing Bill becomes law, as outlined in the Queens Speech, housing association tenants will acquire the same rights as council tenants to buy their properties at a discount.