Hennessy Bowie Solicitors News

The latest legal news from Hennessy Bowie & Co

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Recent blog posts

One in six second steppers in Scotland are contemplating turning to the bank of mum and dad to plug the gap between the value of their first home and the cost of the house they would ideally move to, according to the latest research from Bank of Scotland.

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The Law Society of Scotland is to set up a working group to look into Scotland's residential conveyancing practice and procedure with a view to enhancing and developing the process to meet the needs of home buyers in the 21st century.

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Home-ownership is the long-term tenure of choice for most Scottish adults, according to findings released by the Council of Mortgage Lenders based on a survey undertaken by YouGov.

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The Scottish housing market remained broadly stable last month, with both activity and house prices showing some encouraging signs, according to the latest RICS Housing Market Survey.

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The ability of key public sector workers to purchase their own home continues to improve and is approaching the level achieved ten years ago before the house price boom, according to recent research from Halifax.

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According to the latest figures released from the Nationwide, the price of a typical home in the UK declined by 0.1% between March and April, but was 0.9% higher than April 2012. This means that the typical UK home is now worth £165,586.

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Posted by on in Conveyancing

The average house price of new build property in the UK has increased by 12% over the past five years with the average price now at £233,822. This is 9% higher than the UK average house price for all properties, according to analysis from Halifax.

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The Office of Fair Trading (OFT) has launched a study into the 'quick house sale' market and is calling for people who have used, or considered using, these businesses to contact the OFT about their experiences.

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Around 88% of estate agents think a well maintained home next door will increase the sale value of a property, according to new research from Churchill home insurance.

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Posted by on in Conveyancing

House prices in the first three months of 2013 were 1.2% higher than in the final three months of 2012, according to the latest Halifax House Price Index.

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Posted by on in Conveyancing

The annual expense of owning and running a house has increased by £179 over the past year, according to new research by Halifax. It now stands at £9,590, an increase of 1.9% on the previous year, but still less than the 2.7% rise in consumer prices over the same period.

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Posted by on in Conveyancing

Home affordability for city dwellers in Scotland has improved by nearly a quarter since 2008, according to the Bank of Scotland Affordable Cities Review. The average price when buying a city home in Scotland (£159,450) stands at 5.15 times gross annual average earnings – 22% below the peak of 6.57 in 2008. 

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Good news for those of you looking to take out a mortgage this year - house purchase lending increased by 11% in January when compared to the previous year. This makes it the highest January total since 2008, according to new figures from the Council of Mortgage Lenders (CML).

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Posted by on in Conveyancing

The housing market in the UK, and in Scotland, is showing a few positive signs, according to new figures from the Royal Institute of Chartered Surveyors (RICS) and the Scottish Government.

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Posted by on in Conveyancing

It is sixteen percent more expensive to rent a home in the UK than to buy one, according to new research by the Halifax. The banking group highlights falls in house prices and associated costs, together with a big increase in rents, as being behind the findings.

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Posted by on in Conveyancing

Remortgaging activity in the UK is still subdued, despite the fact that standard variable rates (SVRs) have generally been higher than fixed rates since August 2011, according to new research from Lloyds TSB.

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Posted by on in Conveyancing

Fewer homes are changing hands for over a million pounds in Scotland, according to the latest figures from Registers of Scotland. These show that 141 homes were sold for seven figures in Scotland last year.

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Posted by on in Conveyancing

The number of first-time buyers reached its largest yearly total in five years, according to new data from the Council of Mortgage Lenders (CML). This shows that 216,200 first-time buyers became homeowners in 2012 - the first time the annual total has exceeded 200,000 since 2007.

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