Now that we have had time to digest the White Paper that was released by the Government, lets look at the major changes that will soon be introduced: The End of the Section 21 Notice A long-trusted tool for a landlord will soon be ending. This will mean that assured and assured shorthold tenancies will […]
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Prior to subletting your leasehold, review your leasehold agreement to confirm if you are allowed to rent out your leasehold property. Make sure to not violate any rules when subletting your lease as most lease agreements set out that leaseholders require freeholders' consent to sublet. Subletting Your Leasehold Leaseholders can sublet the entire or part
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Selling a leasehold property is not quite straightforward and requires a little more planning and some extra documents. Owning a leasehold property means that you own the property but not the land it sits on. Flats, houses, and new builds are mostly leaseholds in the UK. Selling a leasehold property means transferring the lease to
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Selling a freehold property is comparatively easier and hassle-free than the sale of a leasehold property. Sellers desire a smooth sale process and the best possible price. For this to happen, instruct your qualified legal representation about the sale of the freehold to proceed with the matter further. Knowing the process of a freehold sale
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In simple terms, refinancing involves replacing the existing loan with a new one. Refinancing a property is a sound financial move to pay off the original mortgage loan and take out a new loan or consolidate the debt. The process of refinancing is pretty similar to the traditional mortgage process. Here is a step-by-step guide
Due to the rising house prices in the UK, most first-time buyers rely on gifted deposits to purchase a residential property. Some parents and relatives help family members to get on the property ladder. The majority of property purchasers use the gift of cash to support their home purchases. Purchasing with Gift A gifted deposit
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Grant of the new lease is the lease extension granted to the lessee that will either take immediate effect or start on a future date. Lease agreements are highly complex and long-term, therefore, both parties should understand their obligations before agreeing to the terms of the lease. Granting a new lease requires the landlord and
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Upon purchasing a new property, the buyer is bound to pay additional expenses besides the purchase price. Along with legal costs and agent commission, the property owner might have to pay the Stamp Duty Land Tax (SDLT). Stamp Duty Land Tax is the tax payable by the buyer on property transactions over specific prices in
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