property market

The UK's Largest Money-Laundering Prosecution: Why Your Solicitor Needs to Know Your Source of Funds What did this case involve? On Tuesday 4th March 2025, four individuals were sentenced for their involvement in a £266 million money laundering scheme tied to Fowler Oldfield, a Bradford-based scrap jewellery business. The scheme, one of the largest in UK history, was exposed after an investigation by West Yorkshire Police's Economic Crime Unit. The defendants, Gregory Frankel (11 years, 8 months), Daniel Rawson (10 years, 10 months), Haroon Rashid (10 years), and Arjun Babber (11 years), were convicted after laundering criminal cash through [...]

The Essential Guide to Understanding Your Auction Legal Pack Buying a property at auction offers great deals and unique opportunities, however there is also the element of risk, so understanding the auction legal pack is the key to you being well informed before placing a bid on a property. As you enter into a binding contract the moment the hammer falls, and there’s no going back, it is also especially important to carefully go through each component of the legal pack, keeping an eye out for any quirks to avoid surprises later down the line. Here at Attwells, our [...]

Budget Update From Our Recent Property Recruit, Solicitor Kelsey Greenwood-Penny The first Labour Government Budget in 14 years was delivered as part of a historic speech given by Chancellor Rachel Reeves on Wednesday, but what exactly does this mean for the property market? The announcements can be divided into three parts as follows: Stamp Duty Land Tax (SDLT) SDLT is a tax payable when purchasing property. The amount of tax is determined by the value of the property and how many properties are owned. The changes mean that if you are purchasing a second property, the SDLT surcharge applicable [...]

The State of the UK conveyancing market 2024 The UK housing market is ever-changing, and the past two years have been challenging. Economic issues like house prices, rising interest rates, and severe transaction declines have impacted the conveyancing market. The impact on the market in 2023 Falling transaction volumes and interest rates:2023 was a rollercoaster year for conveyancing due to economic complications, which resulted in overall transactions falling by 21%, especially in the greater London region, this being a drop of 22%. In addition, the market faced rising interest rates, which were the highest in 15 years, which left [...]

House prices took a dip in March, marking the first decline in six months, as per the latest figures from Halifax. The lending institution reported a 1% decrease in prices, attributing it to the impact of higher mortgage rates on affordability for potential buyers. On average, house prices dropped by approximately £2,900 to £288,430. Nevertheless, Halifax noted that despite the monthly decline, house prices were still higher compared to the previous year. March showed a 0.3% increase in prices from the same time last year, although this was a slowdown from the 1.6% annual rise witnessed in February. Kim [...]

Are you considering putting your home on the market? Spring might just be the perfect time to do so! As the weather warms up and nature bursts into bloom, here are five compelling reasons why listing your home for sale in spring could be a fantastic decision: Ideal Weather: Spring brings with it mild temperatures and longer days, providing the ideal backdrop for showcasing your home. With sunshine casting a warm glow on your property, potential buyers will be able to appreciate your home's exterior and landscaping in its best light. Kerb Appeal Blooms: One of the undeniable charms [...]

The proposal of stamp duty cuts by the government has created considerable debate among experts, leaving many home buyers and sellers giving thought to the potential implications. While opinions may vary, it's evident that grasping the outcomes of these cuts is vital for anyone contemplating a property transaction in the near future. If implemented, stamp duty cuts could offer home buyers a chance for savings on their property purchases. By reducing the upfront costs associated with buying a home, these cuts would effectively lower the barrier to entry into the housing market, potentially making homeownership more accessible for many [...]

The demand for home ownership in the housing market has been on the rise, offering an alternative path to homeownership for many individuals. Recognising the need for better-informed decisions in this complex process is a significant development that has taken place with the establishment of the New Shared Ownership Council. This council aims to empower people seeking shared ownership, ensuring they have the knowledge needed to navigate this unique homeownership opportunity. In this blog post, we will delve into the role of the New Shared Ownership Council and how it contributes to a more informed homebuying experience, we will [...]

In May 2023, the Renters (Reform) Bill (the “Bill”) was announced by the Secretary of State for Levelling up, Housing and Communities, Michael Gove (the “Secretary of State”). The Secretary of State’s declared intention for the Bill is to “make provision changing the law about rented homes, including provision abolishing fixed term assured tenancies and assured shorthold tenancies; imposing obligations on landlords and others in relation to rented homes and temporary and supported accommodation; and for connected purposes.” One of the proposed changes that the Bill is seeking to implement, is the abolition of what is called Section 21 [...]