Blog

Who has it harder in the property market?

  • Author: David Crosby
  • Posted on: 6th November 2014
  • Posted On: Blog

This article in the Telegraph, which looks at whether first-time buyers or second-steppers have it harder, will certain divide opinion between those who want to get on the property ladder for the first time and those who are already on it. Our assessment at Crosby & Woods is that neither group has it easy for differing reasons but on balance once on the ladder, and assuming you take a long term view on growth and price increases, then it is the first time buyer who probably faces the greatest obstacles. 

However, if you look at the figures, with the… Read more

Free Ipads From Mortgage Lenders

  • Author: David Crosby
  • Posted on: 4th November 2014
  • Posted On: Blog

“This article from the BBC which reports that mortgage lenders are offering iPads to customers shows the mortgage market remains very competitive and also that it is important to look beyond the flashy ‘freebie’ and make sure the product being offered actually really is the best one for you.

“At Crosby & Woods we continue to see a local property market that is very buoyant and where sellers and buyers are both recognising the need to act decisively and to work constructively to get sales and purchases completed with the least amount of stress. One of the main causes of delay in…

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August Private Client update: Inheritance Tax - how much will you pay?

  • Author: David Crosby
  • Posted on: 11th August 2014
  • Posted On: Blog

Many of you may have seen today’s article in the news which outlines the review being undertaken by HM Revenue & Customs into schemes that have been set up to avoid the payment of inheritance tax upon death.

HMRC are considering demanding ‘accelerated payment’ where savers are using certain inheritance tax avoidance schemes.  

 

The measures are currently at the consultation stage and are a response to concern that more and more people are using trusts…

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Crosby & Woods Solicitors support the Robert Eaton Memorial Fund Charity Golf Day

  • Author: David Crosby
  • Posted on: 20th June 2014
  • Posted On: Blog

Crosby & Woods Solicitors are very proud to have been asked to help sponsor this fantastic Charity’s golf day at Mid-Sussex Golf Club on Friday 20th June 2014.

The Robert Eaton Memorial Fund (R.E.M.F.) is a Charity that was set up in memory of the late Robert Eaton, a lifelong Brighton & Hove Albion supporter, who tragically lost his life in the terrorist attacks on the World Trade Centre in New York on 11th September 2001.  The charity has supported youngsters in…

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Flats and houses – Extend your lease or become your own landlord!

  • Author: David Crosby
  • Posted on: 14th May 2014
  • Posted On: Blog

Pursuant to the provisions of the Leasehold Reform Act 1967, the Landlord and Tenant Act 1987, the Leasehold Reform Housing and Urban Development Act 1993 and the Commonhold and Leasehold Reform Act 2002, long leaseholders of flats can extend their lease, acquire the freehold of their block of flats or take over the management of their building.

As  the  lease  of  your  flat  becomes  shorter  it  becomes  less  valuable. Prospective purchasers may be put off because the lease is too short and/or because they cannot get a mortgage of such a short lease. …

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Crosby & Woods awarded Law Society’s Wills & Inheritance Quality Kitemark

  • Author: David Crosby
  • Posted on: 30th April 2014
  • Posted On: Blog

Crosby & Woods are very proud to announce that they have been accredited by the Law Society’s Wills & Inheritance Quality Scheme (WIQS). There are only a handful of firms in the region who have been given this sort after accreditation.

Greg Woods, the head of the Private Client department at the firm is warning consumers that when it comes to employing a Will writer they need to distinguish between advisors that are unregulated, uninsured and untrained.

Greg said, “Your Will is one of the most important financial and personal…

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Don’t lose confidence over the chance of getting a mortgage – Just watch what you spend your money on!

  • Author: David Crosby
  • Posted on: 28th April 2014
  • Posted On: Blog

The new mortgage application system, which comes into force fully on 26 April, ensures that lenders conduct a full affordability check on mortgage applicants.  This will have practical implications for the amount that people can borrow and the length of time that an application might take and is mainly due to the fact that under the new rules, it will be the lenders, not the borrowers, who are checked by the regulator to ensure affordability checks for mortgage repayments are being carried out properly.

The aim is to prevent any return of the pre-crisis…

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FCA Mortgage Market Review – what this will mean for clients wanting a mortgage from 26th April 2014 onwards

  • Author: David Crosby
  • Posted on: 23rd April 2014
  • Posted On: Blog

The Financial Conduct Authority (FCA) will be bringing into force new regulations regarding mortgages from 26th April 2014. The aim of these regulations is to tighten up mortgage affordability checks and as a consequence (perhaps to a degree some unintended) these will take away a significant degree of flexibility for Lenders when assessing a customer’s eligibility for a mortgage. No one wishes to go back to the time when mortgages were being given to literally anyone who asked for one and irrespective of their actual ability to repay that loan, but equally with property buying and…

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Crosby & Woods Property Advice Newsletter April 2014 - Beware of Ghost Gazumping!

  • Author: David Crosby
  • Posted on: 23rd April 2014
  • Posted On: Blog

With the property market resurgent, gazumping is unfortunately making a comeback.   Demand for housing far outweighs supply and there is a chronic shortage of homes available to buy.  The two factors that have combined to produce the new, aggressive tendency are a Bank of England that is determined to hold down interest rates and to keep on holding; and a lack of new housing stock. 

What's alarming is that stunts are being pulled that did not occur even in the property bubbles…

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Cohabitation on the Rise

  • Author: David Crosby
  • Posted on: 8th April 2014
  • Posted On: Blog

It is not surprising given the shift in public opinion that cohabitation is on the rise however, recent statistics show that cohabitation has risen significantly in the over 40’s age bracket within the last 10 years.  Although not applicable to everyone it is likely that those in their forties will have some assets and this presents potential financial difficulties that those cohabiting may not be aware of.

Here a Crosby & Woods we urge you to think carefully about your rights while cohabiting. Whether you wish to protect your…

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