Articles in ‘Property Disputes’ Category

Owning a leasehold property can be a very complex and daunting venture both for the inexperienced and the most experienced of property owners. Failure to comply with any restrictive covenants contained within a lease can lead to avoidable and unfortunate repercussions due to the leaseholder not fulfilling their obligations.

Exchanging contracts on a house sale can be a highly exciting, but also a stressful time. But what will happen if for whatever reason you fail to exchange? In this blog which originally appeared in The Financial Times, Zainab, our head of the London residential property team explains what this could mean for the house sale?

Philip Hammond’s budget speech this week confirmed proposals announced by the Prime Minister last month to introduce an additional stamp duty land tax (SDLT) surcharge on UK residential property bought by foreign buyers.

The rules surrounding chancel repair liability can be traced back hundreds of years – however the ancient liability remains just as relevant to homeowners and buyers today.

There is no denying that in recent times the headlines relating to the London property market have been less than positive.

Headline after headline describe the capital’s property market as ‘fragile’ and ‘stagnant’ – and yet it’s housing market is often considered the envy of every other major city in the UK (and the world). So what exactly is going on with the London property market?

The Law Commission has published its eagerly awaited proposals on their options for reforming the law on valuation in the acquisition of the freehold of leasehold properties and lease extensions.

The Law Commission was tasked with exploring options to reduce the cost of lease extensions and freehold purchases. This not only has legal implications but also political implications as by making the process cheaper for leaseholders, freeholders could lose out.

The creation of online search portals for buying homes was a game changer for people looking to buy a house but it also changed the landscape for estate agents. But has this change marked an improvement in how we buy and sell houses? 

After only 27 days in the role, Chancellor of the Exchequer, Rishi Sunak is ready to reveal his first ever budget, the UK’s first in over 18 months and first as a Non-EU member state in over 40 years. Although no one can be certain what will be inside the famous red box, from the Prime Minister and Chancellor’s comments within the last few months, it is likely we will see Stamp Duty Land Tax (SDLT) take the stage in some way.

With the property market now in the spotlight our Residential Property team have a few thoughts on how to keep the transaction secure and limit the financial risks. Keeping yourself virus free is one thing, but if you are not careful your sale and purchase could become a costly victim of the virus too.

Due to the current COVID-19 pandemic, the Government has taken drastic action to protect citizens. One promise it has given is that social and private tenants will not be evicted during these times of hardship. However, the temporary emergency legislation, the Coronavirus Bill (“the Bill”) actually says something a bit different.

While the government is supporting tenants by preventing them from being forced out of their homes during the pandemic there is no exemption from paying rent. Tenants are reminded that they do not have a right to pay a reduced rent or no rent. They remain under a legal obligation to pay rent in full.

Whilst the housing market is in lockdown, there may be opportunity to get your house in order to speed up selling your home when the restrictions lift.