What we've been up to recently and the latest industry news

Help to Buy: Equity Loan scheme 2021-2023

First time homebuyers who meet affordability and lending terms can borrow an equity loan of up to 20% (40% in London) of the sale price of a new build home.

Applications for the Help to Buy 2021-2023 scheme can be made from Autumn 2020.

To learn more about these Help to Buy updates visit - The Help To Buy Website Here

We are pleased to report that the 3rd Quarter of 2020 has been characterised by the sustained resurgence of the property market. Not only have we maintained the increased levels of sales from Q2, but the wider market has shown its resilience with price rises being reported as growing at the fastest rate since 2016.

Click here to read our Quarter 3 2020 Market Update 

Get in touch to discuss new land opportunities or if you want to see how we can assist you with your new homes schemes.
0208 702 9999 | info@pedderdevelopment.com

RECORD YEAR AT PEDDER DEVELOPMENT CONSULTANCY

• Advised and transacted on over £100 million of new homes so far in 2020
• Instructed on 25+ new homes schemes across South London
• Sold out of 16 schemes since Jan 2020
• Currently advising & transacting on over £50 million of land deals
• Moved to new larger office in Queen’s Road Peckham due to expanding team

We specialise in South London new homes sales & marketing and maximise both sales values and pace for our clients.

We provide a thorough, professional and expert service that cannot be matched by our competitors.

Get in touch to discuss new land opportunities or if you want to see how we can assist you with your new homes schemes.
0208 702 9999 | info@pedderdevelopment.com

The whole issue of developer contributions has been a challenge throughout my time in the property industry. First Lord Falconer’s tariff proposal; then the Optional Planning Charge, followed by the deeply flawed proposals for a Planning Gain Supplement; and finally the compromise proposals for a CIL.

Follow the link here to read the full article by Liz Peace

On the 6th August 2020 the Government released a white paper for consultation, Planning for the future, which sets out plans to overhaul outdated planning system and reform the way the country builds:

• Government sets out plans to overhaul outdated planning system and reform the way the country builds
• Plans to streamline process, cut red tape and harness technology to deliver homes faster
• Valued green spaces protected for future generations, with more building on brownfield land
• Building beautiful homes with communities at heart of new planning system
• 30% discount through First Homes, with an emphasis on key workers

To read full Whitepaper click here >> 

To read the full Press Release click here >>

Residential Rates on purchases from 8 July 2020 to 31 March 2021

If you purchase a residential property between 8 July 2020 to 31 March 2021, you only start to pay SDLT on the amount that you pay for the property above £500,000. These rates apply whether you are buying your first home or have owned property before.

You can use the table to work out the SDLT due:

Property or lease premium or transfer value	SDLT rate
Up to £500,000	Zero
The next £425,000 (the portion from £500,001 to £925,000)	5%
The next £575,000 (the portion from £925,001 to £1.5 million)	10%
The remaining amount (the portion above £1.5 million)	12%

From 8 July 2020 to 31 March 2021 the special rules for first time buyers are replaced by the reduced rates set out above.

Use the SDLT calculator to work out how much tax you’ll pay.

Higher rates for additional properties

The 3% higher rate for purchases of additional dwellings applies on top of revised standard rates above for the period 8 July 2020 to 31 March 2021.

The following rates apply:

Property or lease premium or transfer value	SDLT rate
Up to £500,000	3%
The next £425,000 (the portion from £500,001 to £925,000)	8%
The next £575,000 (the portion from £925,001 to £1.5 million)	13%
The remaining amount (the portion above £1.5 million)	15%

Our primary concern is the health of our colleagues, clients, customers and our community, we have prepared for this by establishing new methods of working in line with government guidelines. We are not medics but we want to do all we can to keep the property market moving forward safely.

 We have implemented changes in working practices to minimise the risk of infection. We have established best practices to ensure that we are the safest property services company to interact with in south east London. We already have Cyber Essentials certification (https://www.ncsc.gov.uk/cyberessentials/overview) and are now focused more than ever on safe social interaction allowing business to be transacted in confidence.


    This includes but is not limited to:

• Reverting to our 50:50 workforce split working from home on and off that were in place prior to lockdown 
• Daily employee health and wellbeing checks and temperature monitoring
• Frequent hand washing 
• If any colleague is isolated, a thorough return to work check list is completed to ensure wellbeing 
• Thoroughly washing or sanitising hands prior to any interaction
• Installing hand sanitiser pumps in all offices for staff and public use 
• Asking clients and customers to disclose their wellbeing prior to any valuations or viewings
• Maintaining social distancing guidelines at all times
• Ensuring our offices are compliant with social distancing measures 
• Maintaining optimum hygiene levels in public/communal areas
• Practicing respiratory hygiene measures- Catch it, Kill it, Bin it
• Adhering to all government guideline on valuations and viewings including carrying out viewings when properties are vacant Increasing the use of virtual tours and increased photography to allow us to move straight to a ‘second / final viewing’
• Availability of PPE for added protection and reassurance
• Extensive internal and external COVID-19 policies and practices
• Staying updated and informed

New regulations will give greater freedom for buildings and land in our town centres to change use without planning permission and create new homes from the regeneration of vacant and redundant buildings.

Read the full press release here:

https://www.gov.uk/government/news/pm-build-build-build

The Pedder Group employees have been getting involved in run for heroes!

Run for heroes is a fantastic fundraiser which centers around people getting their daily exercise while raising money for our Nhs.

The idea of the challenge is;

• You run / walk 5k 
• You donate £5 via the run for heroes just giving page 
• You nominate 5 friends (or in our case colleagues) to take part in the run for heroes challenge 

If you are able to, please get involved in this fantastic challenge. They have nearly hit their target of 3.5 million!

https://uk.virginmoneygiving.com/fundraiser-display/showROFundraiserPage?userUrl=RunForHeroes&pageUrl=5