I cannot allow you any rest from the law. I'm back with an intestacy law change - the extended free housing advice scheme - and compulsory purchase home loss compensation limit increases. Painless and fast. Just click below.
Showing posts with label compulsory purchase. Show all posts
Showing posts with label compulsory purchase. Show all posts
Tuesday, 25 July 2023
Friday, 17 September 2021
COMPULSORY PURCHASE: displacement compensation about to rise in England
There's nothing to beat a nice bit of development - unless you are being thrown out of your home to make way for it. Where you are out because of a compulsory purchase order or public redevelopment, one of the heads of compensation to which you are entitled is for the distress and inconvenience which displacement will cause. There are limits to that compensation which are reviewed annually. The limits are going up for England when you are thrown out on or after 01 October 2021. You can bless and curse the Home Loss Payments (Prescribed Amounts) (England) Regulations 2021 (SI 2021/841).
An owner-occupier can collect 10% of the market value of their property under this head of compensation. The minimum will be £7,100 which is an increase from £6,500 and a maximum of £71,000 which is an increase from £65,000. For a tenant, there is a flat rate which will be set at £7,100 and increases from £6,500.
Subscribe to:
Posts (Atom)