Scotland
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Movers & Shakers
New Chairman for The Scottish Property Federation
Andrew Sutherland, Joint Managing Director of Miller Developments, has been announced as the new Chairman of the Scottish Property Federation (SPF).
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Latest property news
Scotland leads the way in conveyancing with seven-days-a-week service for buyers
The weekend has always been every agent’s nightmare when a sale is going through the final stages as conveyancing solicitors down tools for a – probably – well-earned rest. But that is set to change in Scotland after a conveyancing firm announced that it is to begin a seven-days-a-week service to help buyers gain the competitive edge. Unlike other conveyancing firms including those in England and Wales that offer online case tracking and call-centres over the weekend, Edinburgh and Glasgow-based Gilson Gray says it will offer a full service including ‘live’ partners on hand to give advice. Weekend legal advice is a key differentiator in Scotland. There solicitors are the first port of call for buyers hoping to make an offer and, therefore, waiting for a whole weekend for their offices to open can be a disadvantage. Gilson Gray’s service will be offered to private purchasers at first before being rolled out to housebuilders, developers and mortgage brokers, who will be able to help their customers get ready to buy a property faster. “Traditionally, people look at a range of properties over the weekend and if they see one, they have to wait until the Monday to contact their solicitor…
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Latest property news
Scottish letting agents welcome new regulation
The Letting Agent Code of Practice Regulations will come in to law in Scotland in January 2018. Measures within the code include setting up a Letting Agent Register.
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Latest property news
Heavy regulation has been good for Scottish rental market
Heavy regulation of the Scottish rental market in recent years has been a good thing for all concerned, says housing charity Crisis Scotland. After a clamp down on landlords and agents over the past ten years which has included four pieces of legislation, Crisis Scotland claims that all the potential downsides claimed by agents and landlords have failed to materialise. This has included increased responsibilities for and regulation of landlords and agents including an end to ‘no fault’ tenancy terminations, a Repairing Standard to enforce minimum property quality, strict HMO legislation, landlord registration and a ban on letting fees. Neil Guy (pictured), policy and practice manager at the charity, says the legislation has not restricted the growth of Scotland’s privatge rented sector (PRS) over the past ten years and that it has expanded faster than England’s, according to Scottish government housing data. Agents generally agree that the market is robust; for example Fiona Hindshaw of Clyde Property last month said that the “the general consensus across the board in Scotland is that the lettings market [during the final quarter of 2016] demonstrated continued strength and growth when compared to the same period in 2015 and we expect to see this growth…
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Associations & Bodies
Scottish lettings regulation – ARLA launches initiatives
A series of promotional packages will help agents to gain qualifications.
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Latest property news
CKD GALBRAITH OPENS IN CUPAR
CKD Galbraith in Scotland celebrated its 10th anniversary in Fife with the launch of its new Cupar office.
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Latest property news
New training available in Scotland
A new best practice training programme has been launched for letting agents in Scotland and is designed to provide essential learning and a CIH qualification in preparation for a new registration scheme for agents currently in development by the Scottish Government. The ‘Let Well’ training programme, created in Scotland specifically for the Scottish private rented housing sector, was developed by Landlord Accreditation Scotland (LAS) in partnership with the Chartered Institute of Housing (CIH), and was launched at CIH Scotland’s annual conference in Edinburgh last week. The programme is also expected to benefit those working in local authorities, housing associations and other organisations with an interest in the Scottish private rented sector. John Blackwood (left), chair of LAS, said: “LAS is committed to growing professionalism and achievement of the highest standards among letting agents and landlords and we are delighted to be collaborating with the CIH on the Let Well programme. “The new programme will not only assist participants to satisfy the Scottish Government’s new registration requirements, it also highlights for employers an individual’s commitment to best practice and high professional standards as a housing professional in letting.” With the Scottish PRS growing ever larger, ensuring that professionals associated with the…
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Features
What next for Scottish property?
Scottish independence may have failed but major changes still lie ahead for the country's property market.
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Housing Market
Scottish Government revises property tax after UK stamp duty changes
Deputy First Minister John Swinney has announced a series of changes to the Land and Buildings Transaction Tax (LBTT) – which will replace stamp duty for homebuyers in Scotland – following Chancellor George Osborne’s amends to stamp duty in his Autumn Statement in December. Among the headline amendments, is the fact that homes in Scotland worth up to £145,000 will not now attract any tax, up from the previously proposed £135,000. For sales between £145,000 and £250,000, a tax rate of 2 per cent will be applied, with the introduction of a new rate of 5 per cent between £250,000 and £325,000. Mr Swinney had previously planned a tax rate of 10 per cent on residential properties sold for between £250,000 and £1 million – prompting concerns that those acquiring family homes could be hit. However, the 10 per cent rate will be applied to properties valued between £325,000 and £750,000. The top rate of 12 per cent – which was previously going to apply to residential properties worth in excess of £1 million – will now take effect from £750,000. The Deputy First Minister defended the Scottish national Party’s (SNP) decision to change the taxes following the Chancellor’s surprise…
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