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The Leasehold Reform (Ground Rent) Bill:...

Posted in Conveyancing on 1st Sep 2021
On 13 May 2021 the Leasehold Reform (Ground Rent) Bill was published by the government. The proposed law was drawn up to reform the law surrounding leasehold properties and specifically the issue of onerous ground rent clauses. If the bill becomes law, it will ban freeholders from charging ground rent to leaseholders in some new leasehold agreements, such as newly built residential properties. If you are not familiar with the term ‘Ground Rent’, this is a charge contained within a lease that is payable by the leaseholder to the freeholder. Ground...

“Marriage Value” and the 80-year cut off...

Posted in Conveyancing on 24th Aug 2021
What is 'Marriage Vale' Marriage Value is the monetary increase in the value of a residential leasehold property following an extension of the lease. It makes sense that a lease extension will result in an increase in the value of the leaseholder’s interest. The more years left on the leasehold, the longer a leaseholder can inhabit the demised premises, the more valuable the leaseholder’s interest. It is also true that the value of the landlord’s own interest will fall, since the landlord will not enjoy use of the demised premises for longer. However,...

The Home Buying Process

Posted in Conveyancing on 10th Aug 2021
What you need to know So, you have chosen to purchase a house in the UK! Congratulations, you are living in an exciting period in your life. It may also be stressful, particularly if you do not know what to anticipate. That is why we have written this article to guide you through each stage of the home buying and re-mortgage process. We understand how essential a house is in your life. Budget How much can you afford to pay each month on a mortgage? Although you could go to a bank and be pre-approved for a house loan, it is generally preferable to...
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