Commonhold is an alternative to leasehold ownership and the idea behind it is that it allows a person to own a freehold flat, and be a member of the company which owns and manages the common parts and structure of the building. It was first introduced in 2002 but has...
When selling a leasehold property, particularly in a professionally managed block of flats, the managing agent needs to supply information that is required by the buyer’s solicitor and will charge a fee for doing so. This fee varies but it usually amounts to a few...
The Government has stated that it wishes to trial reservation agreements this year and it is developing a standard reservation agreement to reduce the number of failed property transactions. The Government is commissioning ‘behavioural insight’ research to help...
Matt Prior of the Ministry of Housing Communities and Local Government confirmed on 6th November that the Government is likely to introduce measures requiring sellers to provide more information up front about their property before it goes on the market. This is...
The Ministry of Housing, Communities and Local Government has now published a summary of responses to the call for evidence and set out measures to be taken by the Government to make improvements to the selling and buying process in England. These include: Creating a...
Following the tragic fire at Grenfell Tower last year, at least 130 private apartment complexes have failed cladding tests. The leaseholders of one of these complexes, the 95 apartment Citiscape complex in Croydon, may face a bill running into hundreds of thousands of...
