First-Time Buyer Relief for LBTT and General Exemptions
The Land and Buildings Transaction Tax is something which must remain at the forefront of your mind when purchasing a property in Scotland. It is the tax you pay when you purchase a property. However, if you are a first-time buyer, you are exempt from paying LBTT up until a certain purchase price, which is […]
The Uniqueness of Conveyancing
As it is nearly Christmas time, a Christmas analogy seems apt. Every conveyance is unique like a snowflake. Each presents unique issues to be addressed. Cladding is a significant issue with modern buildings, due to concerns regarding fire safety. Buildings with cladding are difficult to insure and may prove problematic in securing mortgage funds. It […]
Understanding LBTT & ADS When Purchasing a Property
Correct as of the 1st of April 2024 LBTT – Land and Building Transaction Tax – is the Scottish equivalent of Stamp Duty Land Tax (SDLT). LBTT is a tax applied to residential and commercial land and buildings transactions, however I will be focusing exclusively on residential transactions. The rates of LBTT are dependent upon […]
The Devil’s in the Detail
Congratulations, you’ve bought the home of your dreams. A new build property with a drive way. It’s your property, so you can do anything you want with it. Right? Well, no actually. Or more accurately it depends upon your title burdens, particularly with new build properties. Restrictions on parking are a good example. Take the […]
Purchasing a Listed Building in Scotland
When searching for a new home, do you find yourself drawn to, unique, charismatic, older, and characterful properties? If so, then you may find yourself falling in love with a listed building. Listed buildings enhance Scotland’s charming landscape and stand as reminders of great parts of the country’s history and rich heritage. All different shapes, […]
Register of Persons Holding a Controlled Interest in Land
The Register of Persons Holding a Controlled Interest in Land (RCI) was launched on the 1 April 2022. This new register, which is managed and maintained by the Registers of Scotland, was established as a result of The Land Reform (Scotland) Act 2016 (Register of Persons Holding a Controlled Interest in Land) Regulations 2021. The […]
Top Tips for Reducing Stress While Purchasing Your Dream Home
Purchasing your dream home sounds exciting, right? Well, it certainly is. However, the process of purchasing a property can be equally as stressful and the current competitive market has exacerbated the potential for stress. Not to mention that buying a home is one of the biggest financial commitments you will ever make. The excitement […]
The Additional Dwelling Supplement Increase in Scotland
There are various reasons why you may consider purchasing a second residential property. Maybe you are looking to invest in a buy-to-let property, or maybe you would like to have a holiday home to escape to on the weekends and during the holidays. However, it is important to be aware that owning additional property in […]
Getting on the ‘property ladder’: A guide for the first time buyers in Scotland
Buying a property is typically the biggest purchase that a person makes in their life and doing it for the first time can be especially daunting and confusing. While algebra continues to be taught in schools, knowledge of the process when it comes to buying a property is normally a case of learning on […]
Japanese Knotweed and Residential Property
Garden predators are taking root in the courts, as householders take action to fight off plant invaders that can be highly destructive and undermine property values. Japanese Knotweed is a highly invasive, aggressive and fast-growing plant which can cause structural damage to buildings, with roots that can spread several metres. Proprietors are starting to […]