When buying a new property, most people spend a tremendous amount of time, thought, effort and emotion in choosing the right property. It can take many hours of scrutinising the internet portals for suitable properties, carrying out viewings and deliberating before finally making a decision as to which property would make the perfect home. After the excitement of having an offer accepted comes that anxious period of uncertainty before contracts are exchanged and the knowledge that the purchase is a definite reality.

Once a sale has been agreed it seems everything goes quiet whilst the legal conveyancing process is undertaken. It usually takes around five or six weeks to get to the point when contracts are exchanged. In this digital age one would have thought it ought to be done more quickly but house sales in some areas actually take considerably longer due to delays in one of the key steps involved in a house purchase; the local authority searches.

A search is normally instigated by the buyer’s solicitor and its purpose is to check whether there are any issues that might adversely affect the property or its immediate surroundings such as planning applications, road schemes, statutory controls, environmental hazards. The length of time it takes for a search to be returned is something of a lottery and depends on which council area the property is located in.

The variation in response times of different authorities is extraordinary. For example Wiltshire County Council (South) are currently taking a staggering 42 days before a search application is actioned. It is little better in West Wiltshire, however if one heads over the county border into North Dorset or Hampshire’s New Forest, the picture is very contrasting where search results are returned after only five days.

The problem is not down to the quality of the staff dealing with search requests, indeed they are often very helpful and dedicated people, but that there are simply not enough of them at a time when council leaders are slashing budgets.

How can the problem of search delays be mitigated? Here are some ideas:-

– A seller might chose to put searches in hand ahead of a sale being agreed. They cost circa £125 but have a limited shelf life of up to six months before they need to be renewed.

– If a buyer requires a search, they should pay their solicitor the necessary fee and instruct them to apply for the searches without delay.

– Some solicitors appoint third party agencies to carry out searches, check if this is the case because they can sometimes take longer.

– Subject to the approval of a mortgage lender, a buyer might consider taking out insurance (about £50) before the searches come back to allow contracts to be exchanged.

– Communicate. Make sure at the outset that everyone involved in a sale, including those up and down a chain are aware that there may be a delay in matters progressing so that there is a realistic expectation of timing.

The long waiting time for property searches can have a serious impact on the progress of a sale, jeopardising whether it reaches a conclusion and affecting the ability of home owners to move when they need to. This does not help the stress levels of buyers and sellers but also affects the fluidity of the local property market and the local economy.

We’ve had a good run so far this year and while we have a record number of buyers on our books there simply isn’t the supply of properties that we would expect.

The traditional complaint heard from those looking to buy good quality village and rural property in South Wiltshire and North Dorset is that there is nothing around. This is why our books are normally crammed with ready and often desperate buyers who will jump at the first sign of an attractive period house. This year it is even worse though and there is no rhyme or reason for it.

We would have expected the decisive Election result to pave the way for greater confidence and while it has done so in terms of buyer sentiment, people just aren’t putting their properties on the market. Whether it is an anomaly and the Autumn market will produce greater volume, one doesn’t know.

One reason is often that owners want to find something to move to before doing so, but this leads to a classic catch 22 because if there is nothing to market then there is nothing to view. Their concern may be that they will be put under pressure to move, but the owner of a good house should always be in the driving seat in a strong market. They may also not want to have scores of viewers disrupting their lives until absolutely necessary, which is understandable, but a simple solution is for an agent to market quietly to a select number of able and flexible buyers.

The property market is a funny beast and because it is regionalised it is never an easy one to call. There are no local concerns to influence decisions and no wider economic problems to rock the boat (although Europe is bubbling), so what is happening at the moment is mystifying. We can only hope that once the holidays are over there will be some fresh impetus and demand can be satisfied…as much as it ever is.

Why is a single storey home not always necessarily a bungalow? Most people would think they are one and the same thing but this is not actually the case. Although the accommodation of many bungalows are set out on just one level and can therefore be correctly described as single storey homes, not all single storey homes are bungalows. It is difficult to precisely define the difference between the two, rather like what makes one property a cottage and another a house; it really comes down to style and design.

The word bungalow originates from India and the term ‘bangalo’ referred to a house built in the Bengal style which were usually small, detached, one storey and often with a wide veranda. Initially a term adopted by British sailors in the 1690’s to describe a hovel, as the British Raj expanded they became ever more extensive and rather grand homes used by officials who by the late 19th and early 20th centuries began replicating them on their return to these shores. Their numbers proliferated in Britain and America in both suburban and rural settings with their style amended to suit the vernacular and in this country were often designed to the Arts and Crafts style in vogue at the time. Bungalows and single storey homes still remain hugely popular today although they only account for around 10% of the UK’s housing stock.

A bungalow is not necessarily limited to being just a single storey high as in the case of chalet bungalows which have a second floor, albeit one that is smaller than the ground floor and built into the eaves. This is a particularly common form of construction in the USA where the various states have their own specialist designs.

Historically in this country, other than those properties belonging to the nobility, most homes were single storey, rather like crofters cottages in the Highlands or Ireland. If you look carefully at some old cottages, you can see that they were built at different stages, sometimes with stone elevations at ground level and a brick faced upper floor. This was because stone used to be widely available and cheap before the industrial revolution saw the advent of the mass production of brick.

Nowadays, single storey homes often tend to be either older buildings such as former agricultural barns that have been converted to domestic use or ultra-modern, contemporary homes built to a style that would not be associated with a bungalow.

Although normally known for selling more traditional country cottages and village houses, Rural View has recently agreed the sale of two single storey homes in the South Wiltshire area. One a former cow barn requiring updating near Sutton Mandeville whilst the other is a superbly presented property in Brixton Deverill that was once part of a range of bull pens. Both properties created terrific interest demonstrating the demand for this type of construction.

The recent budget has been described as one of the most progressive for years and one of the headline grabbing changes relates to the passing on of family homes and inheritance tax. From April 2017 if you own a property worth up to £1m you will be able to leave it to children or grandchildren completely free of inheritance tax. The following is taken from the Daily Telegraph’s report on the existing rules and how the new proposals will work.
In his budget speech on the 8th July 2015, Chancellor George Osborne announced that he will raise the inheritance tax (IHT) threshold from £325,000 per person to £500,000. This means that married couples and civil partners will be able to pass on assets worth up to £1m, including a family home, without paying any IHT at all.

Thousands of home owners have seen the value of their properties soar in recent years, particularly in London and the south east, thanks to a buoyant property market. This has raised concerns for many about the amount of tax their estate will incur after their death.

What are the rules now?

IHT is currently levied at a rate of 40pc on the value of an estate above the tax-free threshold, which has been frozen at £325,000 per person since 2009. Married couples and civil partners are entitled to double the allowance, passing on assets to their children or other relations worth up to £650,000 before a tax charge is triggered.

How will this change?

The Government will add a “family home allowance” worth £175,000 per person to the existing £325,000 tax free allowance from April 6, 2017. This means that individuals can pass on assets worth up to £500,000, including a home, without paying any IHT at all. For married couples and civil partners, the total is £1m. This additional allowance will be gradually withdrawn for estates worth more than £2m. The Conservatives first mooted its plan to raise the IHT threshold in 2007 and it was included in its 2010 manifesto. However the Liberal Democrats quashed any changed to IHT during the Coalition government.

What if I downsize my home?

Anyone who wants to downsize to a smaller property will be eligible for an “inheritance tax credit” so that even if they sell an expensive property they will still qualify for the new threshold providing the bulk of the estate is left to direct descendants. This is an attempt to encourage pensioners to free up larger properties for growing families.

How much will I pay?

Hargreaves Lansdown has calculated how these changes will affect you, depending on the size of your assets.

Single person

Married couple