by Saqib Khan | Apr 17, 2025 | Business, Conveyancing, General, Landlord and Tenant Law, People
The tariff’s that President Donald Trump has imposed on all countries is now having a dramatic effect on the world’s markets. we address this below in our article.
Economic Uncertainty
o Tariffs create uncertainty in global markets. This uncertainty can lead to reduced investor confidence, which can affect property market stability.
o Businesses may delay investment decisions, and consumers may become more cautious with significant purchases like property.
Impact on Interest Rates
o Tariffs can influence inflation. If tariffs lead to increased costs for goods, it could push inflation higher.
o Central banks, like the Bank of England, may respond by adjusting interest rates. Changes in interest rates directly affect mortgage affordability and, consequently, property demand.
o There is also the possibility, that due to the Tariffs, that the bank of England may lower interest rates to stimulate the economy. This would have the opposite effect, and make mortgages more affordable.
Effects on the UK Economy
o The UK’s economy is intertwined with global trade. Tariffs could disrupt supply chains and impact UK businesses, potentially leading to slower economic growth.
o A weaker economy can reduce consumer spending power and affect property demand.
Potential for Mortgage Rate Fluctuations
o As financial markets react to tariff-related uncertainty, there could be fluctuations in mortgage rates.
o Changes in swap rates, which influence mortgage pricing, could lead to variations in mortgage affordability.
Key Considerations for KhanMather Clients
Legal Implications
o Tariffs can affect international contracts and business transactions, potentially leading to legal disputes.
o KhanMather can advise clients on the legal implications of tariffs on their property investments and business dealings.
Property Investment Strategies
o Clients should be aware of the potential risks and opportunities that tariffs may create in the property market.
o KhanMather can provide guidance on navigating legal and contractual complexities related to property transactions during times of economic uncertainty.
Economic Monitoring
o It’s crucial to stay informed about economic developments and policy changes that could affect the property market.
o KhanMather can help clients stay updated on relevant legal and economic changes.
In Summary
While predicting the precise impact of tariffs is challenging, it’s clear they can introduce significant economic uncertainty. This uncertainty can ripple through the property market, affecting demand, affordability, and investment decisions. KhanMather can play a vital role in helping clients navigate these complexities and protect their interests.
If you have any questions regarding the above, please contact Hannah @ KhanMather on 0161 850 9911.
by Saqib Khan | Apr 1, 2025 | Conveyancing, General, Landlord and Tenant Law
Here at KhanMather, we understand that buying or selling a property is one of the most significant transactions in anyone’s life. It’s a process filled with legal intricacies, and staying ahead of the curve is crucial. That’s why we’re keeping a close eye on the government’s proposed changes to the TA6 form, set to be implemented in 2026.
What is the TA6 Form?
For those unfamiliar, the TA6 form, officially known as the Property Information Form, is a vital document in residential property transactions in England and Wales. It’s completed by the seller and provides crucial information about the property to the buyer. This includes details about boundaries, disputes, planning permissions, and environmental matters. It’s designed to ensure transparency and help buyers make informed decisions.
Why the Change?
The government’s decision to introduce a new TA6 form in 2026 stems from a desire to modernise the process and address evolving concerns in the property market. Key drivers include:
• Enhanced Transparency: The aim is to provide buyers with more comprehensive and accurate information, reducing the risk of post-completion disputes.
• Environmental Considerations: With increasing focus on climate change, the new form is expected to incorporate more detailed questions about energy efficiency, flood risks, and other environmental factors.
• Digitalisation: The government is pushing for greater digitalisation in property transactions, and the new TA6 form will likely align with this trend.
• Leasehold reform: With the ongoing leasehold reform, it is likely that leasehold properties will have more detailed questions.
What Can We Expect?
While the exact details of the new TA6 form are yet to be finalised, we anticipate the following:
• Expanded Environmental Questions: Expect more in-depth inquiries about energy performance certificates (EPCs), flood risk assessments, and the presence of potentially hazardous materials.
• Updated Boundary and Dispute Information: The form may include more specific questions about boundary disputes, rights of way, and other neighbourly matters.
• Improved Digital Integration: The new form may be designed for easier digital completion and submission, streamlining the transaction process.
• More detailed questions concerning leasehold properties: Due to the upcoming leasehold reform, it is likely that leasehold properties will have more detailed questions.
• Cyber security questions: With the rise of cyber crime, questions may be added to confirm that the seller has taken steps to secure their personal information.
What This Means for You?
For sellers, it’s crucial to start gathering relevant information well in advance of 2026. This includes ensuring your property’s documentation is up-to-date and addressing any potential issues that might arise during the disclosure process.
For buyers, the new TA6 form should provide greater peace of mind, offering a more comprehensive understanding of the property’s condition and history. However, it’s essential to seek professional legal advice to fully interpret the information provided.
How KhanMather Can Help?
At KhanMather, we’re committed to staying abreast of all legal developments in the property sector. Our experienced solicitors can:
• Provide expert guidance on the new TA6 form and its implications.
• Assist sellers in completing the form accurately and efficiently.
• Advise buyers on interpreting the information provided in the form and conducting thorough due diligence.
• Navigate any potential disputes that may arise during the transaction.
Looking Ahead
The introduction of the new TA6 form in 2026 represents a significant step towards a more transparent and efficient property transaction process. We encourage both buyers and sellers to stay informed and seek professional legal advice to ensure a smooth and successful transaction.
If you have any questions about the new TA6 form or any other aspect of property law, please don’t hesitate to contact Hannah at KhanMather on 0161 850 9911.
We’re here to help you navigate the complexities of the property market with confidence!
by Saqib Khan | Mar 27, 2025 | Conveyancing, General, Landlord and Tenant Law
The UK Government is making significant changes to property ownership, with the aim of abolishing the traditional leasehold system for flats in England and Wales. The goal is to make commonhold the standard tenure.
What’s Changing?
• Ban on new leasehold flats: The main proposal is to stop selling new flats under leasehold agreements.
• Commonhold as the new standard: Instead, commonhold ownership will become the norm. This means homeowners will own their flats outright, without a separate freeholder.
What Does Commonhold Mean for Flat Owners?
• Collective Ownership: Flat owners will collectively own and manage the entire building.
• Direct Control: You’ll have direct control over maintenance and related costs, eliminating ground rents.
• Part of an Association: When you buy a home, you’ll automatically become part of a commonhold association. This group will oversee the building’s management, either directly or by hiring a managing agent.
In Summary:
These changes aim to give flat owners more control and security over their properties by moving away from the leasehold system.
by Saqib Khan | Mar 13, 2025 | Conveyancing, General, Landlord and Tenant Law, Litigation, People
Purchasing a new-build home is often envisioned as a seamless transition into modern living. However, numerous homeowners across the UK have encountered significant challenges with unfinished estates, leading to frustration and legal concerns.
Common Issues Faced by Homeowners
Residents in various new-build developments have reported a range of issues, including:
• Unfinished Roads and Pavements: In Shrewsbury, homeowners on the Lilly Hay estate, developed by Taylor Wimpey, have been waiting up to five years for the completion of roads and pavements. The lack of proper infrastructure has resulted in uneven surfaces and potholes, posing safety risks and causing damage to vehicles.
• Non-functional Street lights: At Tadpole Garden Village in Swindon, residents have expressed frustration over non-functional street lights, contributing to safety concerns and an increase in local crime rates.
• Structural Defects: Some homeowners have discovered significant structural issues post-purchase, such as the absence of cavity-wall insulation, leading to increased energy costs and discomfort. Legal avenues, like the Defective Premises Act 1972, may offer recourse in such situations.
Legal Protections and Remedies
Homeowners facing these challenges have several legal protections and remedies available:
• Consumer Rights Act 2015: This act ensures that services provided, including construction work, must be performed with reasonable care and skill. If a developer fails to meet these standards, homeowners may be entitled to remedies such as repairs, replacements, or financial compensation.
• Defective Premises Act 1972: Under this act, homeowners can claim damages against developers for substandard work that results in defects, especially if building regulations have been breached. The Building Safety Act 2022 has extended the limitation period for such claims to 30 years, allowing homeowners more time to seek redress.
• New Homes Quality Code: This code mandates developers to provide clear and accurate information about the property. Failure to disclose significant details, such as the erection of large structures near homes, can lead to compensation claims, as seen in Newcastle where a couple was awarded £700 after a 40-foot fence was built outside their property without prior notice.
Steps for Homeowners
If you’re experiencing issues with your new-build property:
1. Document All Issues: Keep detailed records of defects, including photographs and correspondence with the developer.
2. Communicate with the Developer: Report problems promptly and allow the developer an opportunity to address them.
3. Seek Legal Advice: If issues remain unresolved, consult with one of our solicitors to understand your rights and potential legal actions.
4. Utilise Dispute Resolution Services: Engage with independent schemes or ombudsman services designed to handle disputes between homeowners and developers.
Conclusion
While new-build homes offer the promise of modern amenities and design, it’s crucial for homeowners to be vigilant and informed about their rights. Should issues arise, legal frameworks are in place to protect consumers and ensure that developers meet their obligations.
At Khan Mather Solicitors, we are committed to assisting homeowners in navigating these challenges and securing the homes they were promised.
by Saqib Khan | Mar 6, 2025 | Conveyancing, General, Landlord and Tenant Law
Buying a new home is one of the biggest decisions you’ll ever make. Amidst the excitement of finding the perfect place, it’s easy to overlook crucial checks that could save you from future heartache.
One such check, particularly relevant in the UK, is assessing the flood risk of your potential property. At KhanMather Solicitors, we understand the importance of thorough due diligence, and we’re here to guide you through this essential process.
Why is Flood Risk a Concern?
The UK is increasingly experiencing extreme weather events, making flooding a significant risk for many homeowners. Flooding can cause devastating damage to property, leading to costly repairs, insurance disputes, and emotional distress. Therefore, understanding the potential flood risk before you buy is paramount.
How to Check for Flood Risk:
1. Environment Agency Website: The Environment Agency provides flood maps online, allowing you to check the flood risk for specific areas using postcodes. These maps indicate areas at risk of flooding from rivers, the sea, and surface water.
2. Property Information Form (TA6): Sellers are legally obliged to disclose any known flood history of the property through the TA6 form. Carefully review this document and ask your solicitor to raise any necessary enquiries.
3. Local Authority Searches: Your solicitor will conduct local authority searches, which may reveal information about flood risk and drainage in the area.
4. Flood Risk Assessments: For a more detailed assessment, consider commissioning a professional flood risk assessment. This will provide a comprehensive report on the property’s vulnerability to flooding.
5. Check Insurance Availability: Contact insurance providers to get an idea of the cost and availability of flood insurance for the property. This will give you a realistic picture of the potential financial implications.
What Can KhanMather Solicitors Do to Help?
Our experienced conveyancing team at KhanMather Solicitors can assist you in the following ways:
• Reviewing the TA6 form and raising enquiries with the seller’s solicitor.
• Conducting thorough local authority searches.
• Advising on the need for a flood risk assessment.
• Explaining the implications of any flood risk identified.
• Ensuring your interests are protected throughout the conveyancing process.
Don’t Let Flooding Wash Away Your Dreams
By taking proactive steps to assess flood risk, you can make an informed decision about your property purchase and avoid potential future problems. Contact KhanMather Solicitors today for expert legal advice and a smooth conveyancing experience.
Remember: Prevention is always better than cure. Don’t let the excitement of buying a new home overshadow the importance of essential checks like flood risk assessment.
If you have any questions regarding any future property purchase, please contact Hannah on 0161 850 9911.
by Saqib Khan | Feb 27, 2025 | Business, Conveyancing, General, Landlord and Tenant Law
The recent unexpected interest rate cut by the Bank of England has sent ripples through the financial world, and the UK property market is no exception. Here at KhanMather, we understand that these changes can be confusing, so we’re here to break down what this cut means for homeowners, buyers, and investors.
What Happened?
The Bank of England’s Monetary Policy Committee (MPC) has lowered the base interest rate. This decision is primarily aimed at stimulating economic growth but how does this seemingly macro-economic move affect the bricks and mortar of our homes and investments?
Impact on Mortgages:
• Existing Mortgages: For those on variable rate mortgages, this cut is likely good news. You should see a reduction in your monthly payments, although the exact amount will depend on the terms of your individual mortgage agreement. Contact your lender to understand how the rate cut will affect your specific payments. Fixed-rate mortgage holders won’t see an immediate change, as their rates are locked in for the fixed term. However, when it comes time to remortgage, they may find more competitive rates available.
• New Mortgages: Lower base rates typically translate to lower interest rates offered on new mortgages. This could make borrowing more affordable, potentially increasing demand in the property market. For first-time buyers, this could be a welcome opportunity to get onto the property ladder. However, it’s crucial to remember that affordability assessments still apply, and lenders will carefully scrutinise applications.
Impact on the Housing Market:
• Increased Demand: Lower borrowing costs could stimulate demand for property, potentially leading to increased competition and upward pressure on house prices. This could be particularly noticeable in certain areas where demand already outstrips supply.
• Market Confidence: A rate cut can sometimes signal a lack of confidence in the economy, which could have a dampening effect on market sentiment. However, the primary motivation for this cut suggests that the Bank is acting proactively to support growth, which could ultimately bolster confidence.
• Investment Properties: Lower interest rates can make buy-to-let investments more attractive, as the cost of borrowing is reduced. This could lead to increased activity in the rental market.
What Should You Do?
• Review Your Mortgage: If you’re on a variable rate mortgage, contact your lender to understand how the rate cut will affect your monthly payments. If you’re nearing the end of a fixed-rate term, start researching the best remortgage deals available.
• Consider Your Options: If you’re thinking of buying a property, now might be a good time to explore your mortgage options and get pre-approved. However, don’t rush into any decisions. Carefully assess your financial situation and ensure you can comfortably afford the repayments.
• Seek Professional Advice: Navigating the property market can be complex, especially with changing interest rates. At KhanMather, our team of experienced property law specialists can provide you with expert guidance and support throughout the process. Contact us today for a consultation.
If you wish to discuss the above or require additional information, please contact Hannah on 0161 850 9911.
