Category: Buying Freehold
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Rent Charges
If you are buying or selling a property, you might have come across the term ‘rentcharge’ either referred to within the title deeds of the property or mentioned by your conveyancing solicitor. But, what is a rent charge? In this article, we will take a look at what they are, how they are used in…
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Freehold Maintenance Obligations
When purchasing a freehold property, one would be forgiven for thinking that there will be no additional freehold maintenance obligations. Unless experienced it personal, the majority of people assumed that maintenance obligations and payments are linked to common parts of leasehold properties through service charge or equivalent. In actual fact, it is not uncommon to…
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Estate Rent Charge and New Build Properties
With the government attempting to curb unscrupulous developers and freeholders charging exorbitant sums of money for leasehold service charges also known as an estate rent charge, it appears they have now turned their attention to the new-build freehold market. A silent revolution is going on which no one seems to know much about, least of…
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Latest Changes to Leasehold Properties
The Current Rules On Leasehold Properties Under current rules, house leaseholders can only extend their lease once for 50-years with ground rent. Compare this to flat leaseholders who can extend as often as they wish at a ‘peppercorn’ or zero ground rent for 90 years. The changes announced in January 2021 by the Housing Secretary…
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Tax considerations when purchasing or selling a property
Whether you are purchasing or selling residential or commercial property there are several types of Tax that may need to be paid. Since tax may not be payable until after the sale has taken place, it’s important that you know what the bill is going to be before you commit to the transaction, so you…
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Buying the freehold
Many individuals who lease a flat are not aware that they can buy the freehold from the landlord. If the landlord is thinking of selling the property, he must first give the leaseholders the right of first refusal, or, if enough of the leaseholders want to buy the freehold, they can group together and force…
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Lease of Life! – Buying a Leasehold Property
If you read our recent summary on having pets in leasehold property then welcome to our follow up article on leases generally. If you are buying or have bought a leasehold property (probably a flat) then here is some important information on what it means to be a leaseholder Every lease is unique. Leases within…
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How to Buy the Freehold of Your Home
Buying a freehold of your property also known as, leasehold enfranchisement has gained the attention of media over the years. Leaseholders can now easily make a claim due to recent changes in the law. In line with falling property prices, this is an ideal situation for leaseholders to capitalise on their investment. However, this aspect…
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Buying a Leasehold Property? Read On…
It is a really interesting to listen to the various justifications people make when it comes to buying a leasehold property. To break it down, it is quite important to understand the difference between a Freehold and Leasehold Property is. Buying a Freehold property means that you own the property/any land etc. In essence the buildings…
