Generally speaking these days if you own a flat and the remaining length of the lease is anything less than 75-80 years then you should consider extending the length of the lease. Indeed if at all possible you should extend it before the remaining term dips below 80 years since after that the cost of extending is likely to be higher.
Generally speaking these days when a developer builds a new housing development he will include in the conveyancing documents things known as “restrictive covenants”. Basically these are rules about how the property can be used. They remain binding on the property for ever and therefore do not just have to be complied with by the first people who buy the property but by all subsequent owners as well.
It is the question that everyone asks and lawyers always find really difficult to answer. Everyone seems to know that the conveyancing process can be slow and uncertain.
In the budget back in November 2017 the government announced an important change in stamp duty (SDLT) as it affects first time buyers.
We are all guilty of it.
We have found the property we want to buy and we just want to get on with organising our lives and buying furniture and other stuff to go in it.
If you own a flat and want to sell it then you need to remember that the process will be more complicated than it would be with a freehold house.
Second properties which are let by the owner or empty properties (for example where the elderly owner is now living in a nursing home) are particularly vulnerable to property fraudsters.
Anyone considering building a new property or extending their existing property needs to give consideration to the possible impact of their proposals on neighbouring properties, and the "right to light".
Landlords are being advised they cannot afford to ignore changes to energy efficiency laws, as debate continues about the likely impact of reforms on the rental sector.
Britain’s decision to leave the European Union (EU) has already had a noticeable ripple-effect on the country’s housing market – and the future could hold numerous complications for homeowners and first-time buyers.
Last December, British homeowners tapped into a staggering combined property wealth of £837 million – marking the largest amount of equity withdrawal over the Christmas period in the last nine years. According to property experts, 2015’s historic low interest rates encouraged homeowners to remortgage on to a cheaper deal, with the average equity figure withdrawn via re-mortgaging per person sitting at a very healthy £30,361.