We know that buying or selling a flat or apartment can be stressful. However, when it comes to leasehold property, it is essential to get an experienced solicitor. At Banner Jones, we've helped thousands to sell their leasehold properties ranging from a variety of different circumstances.
What is a leasehold property?
A leasehold property is where you buy the property for a certain period of time (as set out in the lease), and you don’t own the land associated with the property. You'll have a legal agreement, a 'lease', between you as the 'leaseholder' and the 'landlord', also known as the "freeholder". Most commonly, flats and apartments are leasehold properties.
Leasehold conveyancing is generally more time-consuming because of the additional work involved in understanding and reviewing the terms and conditions of the lease from the freeholder or landlord.
Tips for becoming a landlord
Help To Buy ISA - How Have They Done?
Recent government statistics have revealed that the Help to Buy ISA scheme is helping first-time buyers to get on the property ladder three years earlier than they otherwise would. The result has been calculated by looking at the average age of first-time buyers both with and without the ISAs. On average, those who use the ISA to buy their first home are three years younger than those who do not, with the median age of those using the Help to Buy ISA being 27.
Property Scam – A Cautionary Tale
It’s a troubling norm of today’s society that most people will have heard a horror story about property fraud from a family member, a colleague from work or simply reading online. Importantly, these stories need to be kept in perspective: remember, the tales of properties being rented and sold without any noteworthy problems are the ones people usually don’t bother sharing! However, it’s also worth taking heed of the negative experiences of others to ensure you do everything you can to avoid falling into similar traps.
What impact will an interest rate rise have on young homebuyers’ mortgage bills?
Recent official figures have revealed that homebuyers are being lent more money by banks than at any time since the global financial crisis a decade ago, with many of the borrowers being young people for whom stepping onto the property ladder is barely affordable. As such, billions of pounds of debt which may prove unsafe is being taken on by them at a time when interest rates are expected to rise.
Need to Sort out Your Finances?
Around 50% of us make a New Year’s Resolution to 'sort out the finances’ but for most of us it's more of a wish than a firm commitment to take action. Looking at the January appointments we’ve had with wealth management clients here are the topics that we’ve discussed most often. If you’re determined to sort out your finances, these may give you some food for thought.
Bank Liable for damage to credit rating
The patient’s right to information
A woman recently won damages on behalf of her son for injuries sustained at his birth as a result of the alleged negligence of a consultant obstetrician and gynaecologist.