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How Do We Set Up a Commonhold?

Commonholds are a relatively new way of holding property and will be attractive to some flat owners who wish to take the ownership and management of the freehold of their block of flats out of a management company. They may also become increasingly common in...

Stamp Duty Land Tax and Second Properties - The Basics

Stamp Duty Land Tax (SDLT) was brought in to replace the old 'stamp duty' and has been complex since its inception. Among the transactions subject to SDLT are residential property sales. Levied at a rate of 2 per cent on purchases of £125,001 to...

Buying Abroad - Considerations

More than 400,000 UK citizens own properties abroad. If you are thinking of joining them, here ar some of the main issues: as well as it being essential to take independent and high quality legal advice, there are several other considerations you should be...

Leaseholders' Right to Manage

Since 2003 qualifying leaseholders have had the right to take over the management of their block of flats from their landlord, under provisions made under the Commonhold and Leasehold Reform Act 2002 . Leaseholders who take advantage of this right have more...

Fact Sheet - Disclosure to Mortgage Lenders of Incentives for Buyers

This fact sheet provides guidance for those involved in the development of residential properties whether new builds or conversions of existing properties . On 1 September 2008, the Council of Mortgage Lenders (CML)  introduced new procedures in...

Repossessions - the Duties of Mortgage Lenders

When mortgage arrears are serious and/or there is a breach of the mortgage covenants, the lender will usually seek an order for repossession of the property. Once it has possession, it will normally sell it with vacant possession. If this course is taken, it...

Bank of Mum and Dad Lending Issues

Tthe 'bank of Mum and Dad' is  unsurprisingly one of the leading sources of finance for house purchase – it was estimated that 300,000 mortgage deposits were provided by parents of property purchasers in 2016. The survey, sponsored by the Centre...

Planning Law Basics

Whether you are planning to refurbish and sell a house or to construct a whole new apartment block, almost all your plans will be governed by planning laws and any local restrictions. Planning restrictions are more stringent in conservation areas, for...

Selling Your Property at Auction

In recent years, increased mobility and growing rates of home ownership have meant that ever-larger numbers of people nowadays inherit properties from relatives who lived many miles away. Similarly, many buy-to-let properties have been purchased in areas...

What is a Tenant's Improvement?

The law allows any tenant (with some exceptions) who has lived in a property for more than three years under a lease of more than 20 years to apply to the Landlord to purchase the freehold. The purchase price is based on the open market value of the...