Category: Transfer of Equity
What is collective enfranchisement?
If you own a flat with a long lease (granted for more than 21 years) you have the right to purchase the freehold of the building. This is referred to as collective enfranchisement. Where a landlord or management company owns the freehold of a property that contains flats, the flat owners will be required to...
Buying a building plot
If you want to build your own dream home, the first step is buying the right plot of land. There is a lot to consider before you agree to a purchase and it is vital that all of the preliminary work is done to ensure that your build goes as smoothly as possible. There are...
Kwarteng announces Stamp Duty cut effective from today
LPL, like other conveyancers around the UK, are preparing for another peak in services demand as the announcement that stamp duty land tax (SDLT) would be cut as part of Kwasi Kwarteng’s mini-budget 2022. This is a permanent cut which is effective from today, so it’s no surprise that Rightmove’s traffic soared within an hour...
Nearly half of UK house buyers lose possessions during their move
Research carried out by insurance company Admiral has found that nearly half of home movers lose items during their house move, some of them valuable or irreplaceable. The insurer teamed up with removals experts to look at the extent of the problem and list some tips to avoid it. The study found that 47% of...
Advising utility companies and other authorities that you are moving home
If you are moving home, you will have a long list of organisations to contact. We take a look at how to advise the local authority and utility companies of your new address and avoid the potential difficulties and penalties that could arise if this isn’t done properly. As soon as you exchange contracts and...
The value of all UK property – and who could afford to buy it
Residential property market analysts at TwentyCi have been having some fun looking at the total value of all of the property in the UK and asking how much of it some of the world’s richest individuals could afford. The UK currently has just under 31 million residential properties, with the average property price standing at...
Joint buyer sole proprietor mortgages
With increasing financial input from parents and other family members to help young people onto the property ladder, joint buyer sole proprietor mortgages are a popular option. We take a look at how they work and what they entail. For many young people, buying their first home would be difficult without financial support from parents...
Options for silver movers
For those who are at the stage in their lives where they no longer need a large home, there are a range of options available. Moving to a smaller property can offer substantial benefits and the chance to live in a vibrant community with help available for the future. Many older couples end up living...
Exchange of contracts checklist
Once contracts are exchanged in your house purchase, you are legally bound to go ahead with your move. This is the point at which you will need to start seriously organising everything in readiness for completion day. Our checklist sets out some of the main issues to deal with. Insure your new property You should...
