Tag: Leasehold
-
Short Lease Flats Going Cheap – But Are They a Bargain?
Savvy buyers are snapping up homes with short leases at bargain prices, but experts warn of hidden costs. Analysis by Open Property Group has revealed that flats with leases under 80 years are selling for an average of £36,000 less than similar properties. That’s a hefty 12% discount! But before you rush out to grab…
-
Leasehold Shake-Up – Will it Make Buying a Home Easier?
The government has promised big changes to make buying and selling leasehold properties simpler and cheaper. But what does it mean for you? In the recent King’s Speech, the government pledged to overhaul the leasehold system, aiming to give leaseholders more control over their homes. This follows years of campaigning by groups like Propertymark, who…
-
Ditch the Leasehold and Bag Yourself a Freehold: Your Step-by-Step Guide
Ever wish you had complete control over your own home? That’s where owning the freehold comes in. This means you own the property AND the land it sits on, giving you the ultimate freedom. If you’re tired of forking out ground rent or dealing with pesky leasehold service charges, buying your freehold could be the…
-
Labour Unveils Plans to Shake Up Housing Market with New Renters’ Rights and End to Leasehold
Big changes are on the horizon for homeowners and renters alike as King Charles delivered Labour’s first legislative agenda in Parliament. The speech, marking the second King’s Speech of his reign, outlined Labour’s ambitious plans to reform the housing market with three key bills: the Renters’ Rights Bill, the Draft Leasehold and Commonhold Reform Bill,…
-
Fancy Making Extra Cash from Your Spare Room? NatWest Says You Can Now Airbnb Your Home
NatWest has become the first big bank to allow customers to rent out their homes on Airbnb without getting into hot water with their mortgage. For many people, renting out a spare room or even their whole home for a few weeks a year seems like a great way to make extra money. However, most…
-
London Mansions Selling Like Hotcakes as Super-Rich Bag Property Bargains!
The allure of London’s high-end property continues to grow in 2024, with a rise in the purchase of properties valued at over £10 million. This year has seen an impressive 9.1% increase in sales of these luxurious homes, according to a recent report from Coutts. Despite a general 3.9% dip in Prime London property prices…
-
Homeowner Rights Dampened in New Leasehold Reforms
Michael Gove, the Secretary of State for Levelling Up, is facing criticism for new legislative changes that allegedly dilute the rights of leaseholders in the UK. The Tory party’s latest leasehold bill, which was a significant pledge in their manifesto, has officially passed in Parliament as of last Friday. The bill was intended to bolster…
-
Bungalows are Back! From Retirement Havens to Family Homes
The humble bungalow, once seen as a quaint relic from the past, is now at the center of a property frenzy across the UK. Recent reports indicate that bungalows are being snapped up at prices well above the asking rates, sparking intense bidding wars among diverse groups of buyers. In hotspots like Dorset, West Sussex,…
-
London Leaseholders Hit by Rising Costs – Calls for Change
A concerning number of London leaseholders are thinking about selling their homes due to unaffordable ground rents and service fees. According to recent data from Barclays, 13 percent of leaseholders in the capital are considering this drastic step—three times the national average, which sits at just 4 percent. This startling revelation highlights a growing crisis…
-
Property Investment Basics – Making Smart Choices
Understanding what makes a property a worthwhile investment is key, whether you’re eyeing a home for yourself, a rental property, or a holiday retreat. To guide you through this complex terrain, we’ve pooled insights from experienced property investors and developers to bring you top tips on choosing a property wisely. What to Look for in…