Tag: Lindsays

What is Power of Attorney?

A few places still available at LifeCare’s free info event to help local people simplify the future

Thinking about what would happen in the future if our, or our loved ones, faculties deteriorated can be stressful and worrying. How would someone manage our affairs, access our accounts to set up the right care for us, or pay the bills? Without the right processes in place, an already very emotional situation can be made worse with often very serious consequences.  

Local charity, LifeCare Edinburgh understands how daunting and complex these situations can be and will next month host a free information giving event to help debunk the complexities and help people put the right practical support in place to ensure someone trusted can quickly make decisions on behalf of a loved one if they’re not able, or no longer able, to make them themselves.  

Power of Attorney is a legal document where someone – while they still have mental capacity – nominates a trusted friend or relative to look after their affairs if they later lost capacity in the event of an emergency, illness or accident.

It is not limited to people who are older or unwell, everyone needs to consider setting up a Power of Attorney at any stage of life to avoid any future complications. For example, due to having a stroke, serious accident or dementia.  

Delivered in partnership with experts from Lindsay’s Legal Services team, LifeCare will host its first information giving event designed to encourage people to stop and think about what they need to put in place to help simplify the future.  

Sarah van Putten, Chief Executive of LifeCare said “Unfortunately at LifeCare we are well aware of how stressful life can be when people don’t have the right documents in place.  No one can predict when they may face an unforeseen illness, accident or other debilitating event that may render them incapacitated.  

“As one of Edinburgh’s leading charities providing practical care support we know how emotional these situations can be at the best of times but we also know how much worse they can be when family members and loved ones are locked out of helping access the support for the people they care for. 

“Relatives can’t just walk into a bank and access your money, even if it is to pay for your care. Unless you’ve a Power of Attorney, loved ones would need to apply through court, which can be long and costly. 

“We understand that thinking about the future can be upsetting and frightening. Our free and informal information giving event delivered in partnership with Lindsays is designed to simplify matters; there will be no jargon and there will be plenty of time for questions and discussions and an opportunity to discuss any concerns with legal experts for free.”

LifeCare’s ‘What is Power of Attorney’ event, delivered in partnership with Lindsay’s, will take place at 2pm on Wednesday 1st May in the charity’s fully accessible community café, CafeLife at 2 Cheyne Street, EH4 1JB. 

Free tea and coffee will be available along with the opportunity to find out more about LifeCare’s vital services for older people and the community overall.  

The charity is encouraging people to register via Eventbrite in advance of the meeting: https://www.eventbrite.co.uk/e/lifecares-power-of-attorney-information-event-tickets-856970821797?aff=oddtdtcreator

or visit the LifeCare website https://www.lifecare-edinburgh.org.uk/

or call 0131 343 0940 to register interest.

Lindsays’ Edinburgh homes sale values hit record £106m

Hopes for a more stable 2024 as value of capital firm’s deals reach new high

A firm of solicitors and estate agents hailed a strong bounceback from political unrest as its home sales in Edinburgh reached a record £106m during 2023.

The new high was hit by capital-headquartered Lindsays despite the impact of economic turbulence and rising interest rates which hit the market.

It is the second successive year that the total value of homes sold by the firm in Edinburgh has topped £100m – having been £102m in 2022.

The total has been hailed a significant success for the firm in the face of what they describe as a “long hangover” from former Chancellor Kwasi Kwarteng’s emergency budget of 2022 and of the nervousness caused by rising interest rates and the cost of living.

Lindsays also warned that politicians north and south of the border should be aware of the impact their decisions have on people and property.

Maurice Allan, Managing Director of Lindsays’ Residential Property team, said: “These figures are a significant success for us, especially given the turbulence we saw in the market during the first half of the year. When you consider all of that, Edinburgh has really held its own.

“The consequences of political decisions have a real impact on peoples’ lives and can be long-lasting. We saw that with the emergency budget and the long hangover which followed for the property sector.

“It took time for people to work out what the impact of all of that was on their finances – and many delayed making offers on properties as a result, practically shutting down the market.

“Yet, over the course of the rest of the year, the market has proven to be fairly resilient. Supply has improved – and good houses continue to sell well. People have adapted to the financial circumstances and regained the confidence to get back into the market.

“We’re not seeing the huge offer prices over valuation that we were post-lockdown, but what we have essentially seen over the past 12 months is a market which has returned to pre-pandemic levels, which is not a bad place to be.”

Lindsays’ Edinburgh-based estate agency team operates mainly throughout the city and the Lothians.

The total number of property sales during the year was also broadly in line with the previous 12 months – with the average price of homes sold through the firm up in Edinburgh up by about 1.5% to £330,000.

And, looking forward, there are hopes of a more stable market during the next 12 months.

Mr Allan added: “While it’s always difficult to predict what might lie ahead, there are genuine signs of positivity.

“The conversations we are having signal a growing belief that interest rates have peaked. With things more stable, many of those who have been sitting on their hands because interest rates were going up and up are now starting to think seriously about doing something in 2024.”

House sales throughout the wider Lindsays group totalled £174m – with £67.9m sold through its estate agency team in Dundee.

Lindsays: Edinburgh house prices showing no signs of dropping

Solicitor and estate agents records year-on-year rise with market holding strong – and prices significantly ahead of pre-pandemic level

  • Average house prices in Edinburgh are more than £60,000 higher than before the Covid-19 pandemic, city-based solicitors and estate agents Lindsays has found.
  • And the firm says that prices across Edinburgh and throughout the Lothians show no signs of dropping – with values remaining stable and strong.

Lindsays has revealed that the average price of homes it sold through its Edinburgh office in the 2022-23 financial year was £322,250. That compared to £259,893 in 2019-2020. The firm’s average price in 2021/22 was £314,798.

After two years of unprecedented activity since the nation emerged from the first coronavirus lockdown in 2020, its estate agency team says volumes have returned to pre-pandemic levels.

Maurice Allan, Managing Director of Lindsays’ Residential Property department, said: “We’ve read lots of headlines about house prices dropping. We’re not seeing that. Edinburgh – as with other parts of Scotland – is bucking the trend that’s being reported elsewhere.

“We’re not in a market where prices are dropping. In fact, it’s a market that’s pretty solid. Family houses are continuing to enjoy strong attention and are going for real premiums.

“After a couple of quite remarkable years, we are seeing the market return to more normal levels of activity, last seen really in 2019.”

Property prices rose rapidly as the market intensified amid incredible demand following the lockdowns.

Activity began cooling in the face of political and financial instability last year, which saw interest rates – which had been at historic lows for a number of years – increase, coupled with the rising cost of living.

But this has not led to a drop in prices across Edinburgh and the Lothians.

Mr Allan added: “For the vast majority of properties, prices are holding up well. What we’re not seeing now, however, are the extremes that we experienced in a relatively small part of the market when competition was at its most intense.

“We are not finding that properties are selling below their home report valuation. And properties are selling. Finance is still available for people – and many people still have healthy deposits.

“The issue is not whether people are worried about being able to afford to move, it’s whether they can find the right property to suit their circumstances, whether that be needing a bigger home, downsizing or relocating.

“If they can find the right property to move to, they will put their current home on the market. It’s a supply and demand issue.

“Most people are trading in the same market. So, if someone finds the right home and they are ready, we are finding they just go for it.”

In Dundee, where Lindsays’ estate agency team also operates, the average prices of homes sold in the 2022-23 financial year was £205,790. That compared to £161,786 in 2019-2020. The firm’s average price in 2021/22 was £181,849.

The current Bank of England interest base rate is 4.25%. Some mortgage market analysts have stated that they expect mortgage rates to gradually decline throughout the year, even if interest rates go up.

According to solicitor estate agents’ collective ESPC, the average selling price of property across Edinburgh, the Lothians, Fife, and the Borders rose 1% to £270,284 during January to March this year.

Its members recorded the average property achieving 102.8% of Home Report valuation at sale.

Edinburgh business become Scotland’s first employee-owned childcare firm

OWNERSHIP of an Edinburgh childcare company has been handed over to its 150 dedicated staff in what is believed to be a sector first in Scotland.

Kidzcare has announced its transition to employee ownership with 100% of the company shares now placed into an Employee Ownership Trust (EOT) by owner Anne-Marie Dunn who co-founded the successful business in 2001.

The childcare specialists operate four nurseries, four breakfast clubs and six after-school clubs for children, offering options across Edinburgh, from Portobello to Bruntsfield and Fox Covert.

Ownership Associates, a specialist adviser to businesses considering establishing an EOT, provided support to the Kidzcare owner and employees throughout the process in what is believed to be the first business in the Scottish childcare sector to transition to employee ownership.

Anne-Marie Dunn said: “I’m delighted to be able to reward these dedicated and loyal employees by gifting them a share of this brilliant business. The staff at Kidzcare have supported me throughout this journey and I couldn’t reconcile myself to the idea of passing it on to anyone else.

“As I looked to withdraw from the business, I wanted to find an option that rewarded and empowered the staff into the future. As soon as I heard about employee ownership, I was instantly convinced that this was the vehicle to make it happen.

“By becoming employee owned, I am confident that Kidzcare’s values of safety, child development, fairness and kindness will continue, greatly benefiting the children we look after and the people who look after them.”

The business turns over £3 million a year and provides high quality childcare for more than 500 children a day around the city.

Anne-Marie added: “Our current HR Manager, Julie MacKenzie, who has been with us for more than eight years will take more of a managing director role as I gradually step back in the next few months.

“We have planned for a seamless transition so the business can smoothly enter its next chapter, and crucially, we are in control of how that happens best for all stakeholders.

“The transition into employee ownership has been very easy.  Business transactions like this can be daunting and complicated but I have been so lucky to have a team of experienced advisors in Lindsays and Ownership Associates. They have guided me every step of the way.  Nothing was a problem for them.”

Carole Leslie of Ownership Associates, who has worked on the transition of more than 80 businesses to the succession model, said: “It has been a great experience assisting Kidzcare to make the move to employee ownership. It was clear that this was the obvious option for the company and I’m certain the firm will fast see the benefits of this model of ownership.

“It has provided an exit plan for Anne-Marie, potentially life changing differences to her staff, and most importantly ensured that the quality of care for children remained at the heart of the business.

“This is a shining example of the business model benefiting everyone involved in the company. It also highlights the strong positives it can have on an industry like childcare.”

Douglas Roberts of Lindsays added: “Kidzcare has a brilliant reputation in Edinburgh and it was an honour to help the company with the legal aspects of its move to employee ownership.

“Parents trust the staff at Kidzcare to look after their children and Anne-Marie trusts her loyal employees to keep the values and high standards of Kidzcare. It was clear that employee ownership was ideal for Anne-Marie’s succession plans and I’m sure Kidzcare will hugely benefit from being employee owned.”

Ownership Associates works exclusively within the employee-owned sector, supporting companies on their move to employee ownership and working with established employee-owned businesses enabling them to maximise the ownership advantage.

For more information on Kidzcare, please visit: https://www.kidzcare.org/