Tag: solicitors

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.

Thorntons Solicitors launch charity will campaign this month

Cash for Kids is expected to receive a five figure sum again this year from Thorntons Solicitors as the beneficiary of the firm’s Charity Wills Campaign.

Taking place across its offices in Fife, Dundee, Perth, Angus, Edinburgh and (for the first time in the campaign’s history) Glasgow, Thorntons won’t charge a fee for Wills written throughout September. Instead, the firm asks clients to make a fee equivalent donation to Cash for Kids.

Murray Etherington, Partner and Head of Wills, Trusts and Succession at Thorntons, said: “If you take part in our Charity Wills Campaign this September, you’ll not only be looking after your own future, but helping the most disadvantaged children in your area receive access to essential and life-changing funds.

“People may assume that they don’t need a Will. But if you own property, have savings, are responsible for children or other dependents, then you should put one in place. It’s also important keep any existing Wills up to date, and we have created an easy, eight step guide to lead customers throughout the process. During the campaign clients can make their Will from the comfort and safety of their homes with consultations taking place virtually.”

Now in its 25th year, Thorntons’ Charity Wills Month has raised more than half a million pounds for Cash for Kids since it launched, supporting local children and organisations within the communities Thorntons operates. In 2020, Thorntons’ first virtual campaign raised £60,000 for the charity.

The suggested donation is £200 for a single Will and £250 for a couple making Wills together. Donations will go to the Cash for Kids fund closest to where the client lives, meaning children in their local area will directly benefit from any money raised.

Victoria Hendry, Cash For Kids Radio Forth Charity Manager, said: “We are thrilled to be working with Thorntons again on their Charity Wills initiative. To say this campaign has been a success over the years would be an understatement.

“Through Thorntons’ innovation, commitment and hard work – along with the generosity of their clients-  this campaign goes from strength to strength and supports more local children every year.

“When the pandemic hit, we wondered if Thorntons would be able to run this campaign. However, moving Charity Wills to virtual appointments worked brilliantly and we are so glad to be involved in this way again in 2021. We really are so delighted to be the beneficiary of this wonderful campaign and we cannot thank the team at Thorntons and their clients enough for their support.

“We have managed to help thousands of local children live a happier and fuller life thanks to Charity Wills month. We can’t wait to see it grow even more this year.”

The majority of Scots don’t have a will, poll reveals

Almost 58% of people in Scotland do not have a will, a new survey has revealed.

A poll carried out by will-writing campaign Will Aid found that nationally 56% of the population did not have paperwork protecting their loved ones in the event of their death.

But the statistics demonstrated that in Scotland the problem was even greater.

Peter de Vena Franks, campaign director for Will Aid, said: “It can be very difficult for some people to have conversations about death and dying but with this comes a sense of peace because you are making important decisions that can protect your loved ones when you die.

“The last year has shown us how fragile life can be and the survey has revealed just how much of an impact the coronavirus pandemic has had on the mindset of people. We have all had to learn lessons about how to protect ourselves better – with handwashing, mask-wearing and social distancing. A will is just an extension to this.

The study showed that coronavirus had prompted more than 55% of Britons to confront the inevitability of death and think about ways to protect their loved ones after they are gone by either writing a will or reviewing their existing will.

Fifteen per cent of those interviewed said they had written a will or made changes to their will this year as a result of the pandemic. A further 35% said they were actively looking to get a will drawn up this year or make changes to their existing paperwork as a result of the Covid-19 outbreak.

Mr de Vena Franks said: “Will Aid provides the perfect opportunity for people to get their paperwork in order. Not only does it bring peace of mind, it also directly helps to fund the life-saving work of nine of the UK’s best-loved charities.”

Will Aid runs for the month of November. Solicitors volunteer their time to charity to write wills for members of the public. Instead of paying the usual fee for the will, the recipient is asked to make a voluntary donation to Will Aid.

The suggested voluntary donation for a basic Will Aid will is £100 for a single will and £180 for a pair of mirror wills.

Will Aid raises money for nine of the UK’s best-loved charities: ActionAid, British Red Cross, Christian Aid, NSPCC, Save The Children, Sightsavers, Age UK, SCIAF (Scotland) and Trocaire (Northern Ireland).

Mr de Vena Franks said: “There are still so many people in the UK who do not have a will and this does need to be addressed. After all, a will is the best way for a person to make an active choice about inheritance and estates, not to mention make decisions on the guardianship of underage children.”

According to the research, 56% of adults don’t have a will in the UK. More than half of all parents with children under the age of 18 also have no will which means, in the event of their death, a court would make decisions on the guardianship of their children.

Of those interviewed, twice as many people would make a will as a result of a health scare than they would as a result of having a child.

Those who wish to book an appointment with a solicitor to make a will in November can do so from September onwards via our website or by calling us on 0300 0309 558.

Will Aid solicitors will be following the most up-to-date government health advice to ensure that face-to-face meetings remain safe. Many firms will be able to write wills at a distance via a phone or online consultations. Some firms will only be offering their services remotely. Participating firms can be contacted directly for more information.

For more information www.willaid.co.uk.