Latest news at Fords Daly Legal

  • First Home Fund pilot success 9/25/2020 11:28:53 AM

    The First Home Fund ("FHF") is expected to have supported 8,000 households by April 2021. The FHF offers first-time buyers in Scotland an interest free loan of up to £25,000 for their deposit. The FHF was launhed in December 2019. First-time buyers completing purchases this financial year have until 6pm on 2nd October 2020 to apply for their FHF Award. The pilot of the FHF has been a huge success and most of our first-time buyer clients have utilised the scheme. We are glad to hear that

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  • Update on LBTT Changes in Scotland 7/12/2020 10:32:35 AM

    🏡LBTT CHANGES🏡 Revenue Scotland have confirmed here:https://www.revenue.scot/news/news/lbtt-temporary-increase-nil-rate-band-0 that the revised bands for LBTT ie the increase from £175k to £250k for when LBTT kicks in will apply to transactions with an 'effective date' on or after 15 July 2020. We have been asked by many clients if these changes will cover their transactions. In layman's terms the 'effective date' for a standard house sale/purchase is the date of settlement/entr

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  • LBTT changes in Scotland 7/9/2020 3:18:28 PM

    We are delighted to hear the Cabinet Secretary for Finance announce changes to the LBTT threshold in Scotland. At the moment, buyers are liable for Land and Buildings Transaction Tax on all purchases of £175,000 or more. First Time Buyers already benefit from an up to £600 'Relief' on purchases between £145,000 and £175,000. This is great news for the Housing Market in Scotland going forward with 8 out of 10 purchases being relieved of any LBTT payment. For purchases of

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  • Property Market Resumes... 6/28/2020 8:19:50 PM

    As we begin an extremely busy period of marketing your lovely homes we have increased our requirements to protect the safety of both our clients and those looking to view their properties.    If you're looking to view please ensure you have your finance in place (ie a mortgage agreed in principle if you're obtaining finance). If you need information on local mortgage advisors please send us a message and we can provide you with recommendations ✅   If you have a home to sell pl

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  • First Time Buyer Update - November 2018 11/1/2018 10:40:08 PM

    First time buyers will be pleased to hear the news of the First Time Buyer (FTB) Relief which was introducted by the Scottish Government during the summer.  The FTB Relief introduced by the Scottish Government has effectively raised the threshold at which a first-time buyer would pay LBTT on from £145,000 to £175,000. The good news does not stop there as the FTB relief is extended to those who choose to purchase at above £175,000, with an up to £600 relief being app

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  • Important changes to Scottish Government shared equity schemes 12/18/2017 3:29:16 PM

      Great news!   For the first time, those who are 60+ will be able to access a range of home ownership schemes offered by the Scottish Government. These can remove the requirement for a mortgage contribution and make those aged 60+ a priority access group.    The availability of this crucial housing option is something that many of our clients may be suitable for, as it is an additional priority group for the Help to Buy scheme, LIFT Open Market Shared Equity Scheme and

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