Leasehold

Important Leasehold Reform News Featured Image

Important leasehold reform news!

Millions of leaseholders will be given the right to extend their lease by a maximum term of 990 years at zero ground rent, the Housing Secretary Robert Jenrick has announced today (7 January 2021). The changes, making home ownership more secure, will mean that a leaseholder can extend their lease on their home but will no longer pay ground rent to the freeholder which could save them thousands of pounds.  This reform also applies to all new retirement properties and forms part of the biggest reform to English property law for forty years.  Under current rules, leaseholders of houses can…

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Leasehold in London needs changing Featured Image

Leasehold in London needs changing!

  An article in Show House yesterday gave the views of the Mayor of London, Sadiq Khan, who has launched a new guide to help London leaseholders while at the same time stepping up his calls on ministers to overhaul the system of leasehold for homebuyers in the capital. An estimated third of London’s homes – and over 90% of new-build housing – are owned on a leasehold basis. The Mayor has called for wholesale reform of leasehold, including a long-term shift toward alternative tenures such as commonhold. In the meanwhile, he is working to ensure London’s leaseholders have access…

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What is the difference between Freehold and Leasehold? Featured Image

What is the difference between Freehold and Leasehold?

Listen to Property Manager, Lewis Hood, who in the short video below, will explain the difference between Freehold properties and Leasehold properties.  

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What is a RTM - Right to Manage? Featured Image

What is a RTM? (Right to Manage)

Click below to listen to BW Residential Property Manager, Lewis Hood for more information.    

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What is a licence to alter? Featured Image

What is a licence to alter?

Watch our short video to understand what a licence to alter is.    

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A guide to leasehold featured image

A guide to leasehold

Please read this guide for more information on leasehold.  

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What is a lease featured image

What is a lease?

Click below to listen to BW Residential Property Manager, Jamie Fisk for more information.   

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What is a Residential Property Lease Agreement? Featured Image

What is a Residential Property Lease Agreement? And What Does it Cover?

Your Residential Property Lease Agreement (the lease) is an important document and is quite unique to you and your property.   The lease sets out exactly what you have bought, what is exclusively yours and what is shared, what services the landlord must deliver and what proportion you must pay. The wording of leases can vary from property to property and you will always need to refer to the specific wording of your own lease, which details what you have agreed. Some typical things to look for within a lease are: Length of Lease This is known as the term.  The…

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Law reform needed to help leaseholders take control of their buildings Featured Image

Law reform needed to help leaseholders take control of their buildings

Housing Secretary James Brokenshire has asked the Law Commission to look at improving the laws which allow leaseholders to manage their own buildings.   The legislation on Right to Manage is meant to put power in leaseholders’ hands and stop abuse, by allowing some leasehold property owners to take over the management of a building. But issues with the law have stopped its usage becoming widespread. And those who have taken up the option have found delays, costs and uncertainty. Now, as part of wider efforts to build a country that works for everyone, Mr Brokenshire has tasked the government’s…

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Section 20 – What is it? Featured Image

Section 20 – What is it?

Section20 – What is it?  Your lease might make reference to a variety of terms that you will need to understand before you purchase a leasehold property. Here we explain what is meant by one of them, so; What is a Section 20 (S20)? The S20 is a clause within the Landlord and Tenant Act 1985 which was passed to ensure fair procedures and costs are followed in relation to works being undertaken in your building. Why is a Section 20 Necessary? If a landlord (Including Residents Management Companies and Right to Manage Companies) wishes to carry out work to…

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