If you are a flat owner, you ought to be aware that your lease only gives you the right to occupy your flat for the term of your lease. As that term decreases, your flat diminishes in value, and a “short lease” can affect the mortgageability and saleability of the flat. One solution to the …
Continue reading “Yes, you can still get a lease extension!”
We are living though unprecedented times and the effects of Covid-19 are far reaching both personally and commercially. Although the Coronavirus Act 2020 has introduced limited protections to tenants from possession proceedings, the statutory restrictions imposed during lockdown do not prevent rents falling due under a commercial lease. Our top tips for landlords and tenants …
Continue reading “Commercial leases – Rent during Covid-19 – Top tips”
The new measures seek to provide support for both residential and commercial tenants during these unprecedented times. It enacted a series of provisions which restrict landlord’s regaining possession of both residential and commercial property during the Coronavirus pandemic. Residential The notice period given to a tenant before possession proceedings has been increased to 3 months, …
While many in the UK’s countryside will be looking forward to the 12th of August, really not so glorious if you’re a red grouse, those with business in mind are likely to be more focused on 31st October. With a new British Prime Minister and Ladbrokes’s odds of a ‘no deal’ Brexit now 6/4 those …
Continue reading “Rural Properties & Rural Businesses”
A concerning statistic from NAEA Propertymark. This article on City A.M. highlights the some of the many pitfalls that can, unfortunately, be associated with leasehold properties. It is vitally important to seek expert professional advice when purchasing a leasehold property, or when extending a lease. If you already own a leasehold property you may be aware …
Continue reading ““62 per cent of leasehold homeowners felt that they were mis-sold a leasehold”.”
What has changed? From April 2018, the regulations concerning Energy Performance Certificates (EPCs) changed for rental properties (and commercial properties). The aim was to reduce wasted energy and costs for the tenant, help lower greenhouse gases and improve the condition of certain properties. The Minimum Energy Efficient Standards (MEES) requirement for residential properties let on …
Continue reading “EPC Requirements for Rental Properties”
SDLT replaced Stamp Duty in 2003. Instead of being a tax on documents, SDLT is a tax on land transactions and broadly covers the purchase or transfer of land in England. Once considered a relatively straightforward property tax, the introduction of the higher rate brought with it layers of complexity. The higher rate 3% on …
Continue reading “Stamp Duty Land Tax (SDLT), seek specialist relief advice”
For homeowners, equity release lending is becoming more popular than ever for those who want to extract some wealth from their property. But what is it and why are more people choosing to go down this route? Equity release is a way of accessing the money which is secured in your property. It is available …
Continue reading “Equity Release”
Chapter I of the Leasehold Reform, Housing and Urban Development Act 1993 (LRHUDA 1993) entitles qualifying tenants of flats, through a nominee purchaser, to collectively enfranchise their building by purchasing the freehold. This entitlement includes acquisition of the interest of a tenant under any lease of common parts of the building, where the acquisition of …
The modern world is a complicated place and nowadays family structures can be based on a multitude of different models. Gone are the days when only a husband and wife held a property jointly together. We are seeing the rise of co-ownership between friends and families in greater numbers than ever before. Many bring different …
Continue reading “Co-owning Property – How to protect your share”
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