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Property

Property

Is the UK's EU Referendum Good News or Bad News for the House Building Sector?

James Jack

In last week’s briefing note we looked at the potential options available for UK Financial Services if the “Leave” vote wins on 23 June 2016.  Today we look at how the Scottish house building sector may be affected in the run up to the referendum and beyond.


Before 23 June 2016

The very fact that the referendum is looming creates uncertainty which in turn can delay decision making and impact on wo

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LChalmers

The Private Housing (Tenancies) Bill: The Students Will Be Getting Out Of Bed After All

Peter Chambers

 

Along with many in this sector, we called for a change to the treatment of student accommodation. The good news is that the Bill is to be amended and PBSA will be exempt from the new rules in the same way as accommodation provided by academic institutions.

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LChalmers

New Homes for Scotland Boss Sets Out Plan of Action for Tackling Housing Crisis

Scott Peterkin

Nicola Barclay took over from Philip Hogg earlier this week as chief executive of Homes for Scotland, the home building industry body. In doing so she has also set out her plan of action for tackling the country’s housing crisis. 

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Burness admin

Empty Property Rates – Salt In The Wounds

It was felt by many that the Scottish budget, announced on 16 December by John Swinney, was broadly neutral and, depending on your view, a missed opportunity or welcome refrain by not increasing the Scottish rate of income tax (SRIT).   

The announcement of a 3% supplement to LBTT rates for certain properties, including second homes and buy-to-let investments, did hit the headlines.  That was said to be to keep Scotland in line with England – although LBTT rates differ from SDLT rates down south.   

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LChalmers

This Isn't Just Any Lease Dispute...

M&S are famous for their impressive ad breaks, but it is landlords who will be pleased to see the outcome of their high profile “break” with BNP Paribas.  Yesterday the UK Supreme Court confirmed that, in the absence of an express term in the contract, a tenant is not entitled to a refund of rent paid for a period after a break date.

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LChalmers

Aberdeen City Region Deal – Critical For Future Prosperity

Of all the City Deals emerging in Scotland, the Aberdeen City Region Deal is probably the one which carries the greatest potential for re-setting the economic future of its area.

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LChalmers

The Private Housing (Tenancies) Bill: Nothing To Make Students Get Out Of Bed

Peter Chambers, Partner

Yesterday the Scottish Government published the much anticipated Private Housing (Tenancies) Bill and at the same time key figures in the private rental sector met in Edinburgh for a day long conference.  While the prospect of more regulation for this sector has been on the cards for some time, the publication of the Bill has given us a broad outline as to what to expect.  The Housing Minister, Margaret Burgess, is hopeful that the changes will give tenants “security and stability in their home and community” and that landlords will be reassured that “their tenants will treat thei

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LChalmers

Programme For Government: A Mixed Bag For The Housing Sector?

On Monday the Scottish Government announced its Programme for Government, which contained proposals of interest to house builders, investors and landlords alike.  Burness Paull recently published articles in two national newspapers detailing the expansion of build for rent and the institutional private rental sector (PRS) schemes in Scotland.  The Programme for Government is likely to have a big impact on both of these areas.

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LChalmers

Build For Rent Is The New Kid On The Block

Richard Rennie

Where do you stay? That’s very much a Scottish question – “stay” needs replaced by “live” to make sense in the rest of the UK. But for a growing number, they are not staying but moving, and the private residential letting market is adapting in response.

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LChalmers

Will Institutional PRS Schemes Have Rigsby Shaking In His Slippers?

Gavin Paton

Readers of a certain age will recall the “Rising Damp” sitcom from the 1970s with the wonderful Leonard Rossiter playing the hapless live-in landlord, Rigsby. Part of its popularity was undoubtedly because many of the themes had a firm footing in reality: grubby, substandard flats with landlords charging rents that were far too high. While some “Rigsby” landlords may still exist today – are their days numbered?

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LChalmers