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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Why do we need to contribute to a Reserve Fund Featured Image

Why do we need to contribute to a Reserve Fund?

Click on the video below to listen to Property Manager Jamie, explain why you need to contribute to a Reserve Fund.     “Your lease will dictate whether monies can be collected for a Reserve Fund. And if the lease confirms a Reserve Fund can be collected, then this will enable the Freeholder and their agent to plan financially for future works such as exterior or interior re-decorations. When the Reserve Fund is sufficient and major works can be carried out, the leaseholders may avoid any additional charges to cover the works.”

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Why do leases need extending? Featured Image

Why do leases need extending?

Listen to Property Manager, Jamie Fisk discuss why leases need extending.     “Your lease is granted for a set period of time and at the end of that period, the property is handed back to the freeholder.  By extending the lease, you are increasing the time you remain the leaseholder of the property before it’s handed back to the freeholder.  Often increasing the lease comes with a premium and there is a formal procedure to follow in order to extend the lease.”

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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 Ground Rent? Featured Image

What is Ground Rent?

Listen to Property Manager Jamie Fisk, who will explain what ground rent is in his short video below.    

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What is a Section 20 Notice? Featured Image

What is a Section 20 Notice?

Click below to listen to Property Manager Jamie Fisk explain what a ‘Section 20 Notice’ 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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5 ways to fire your Freeholder (or Property Management Company)

If you want to make a change to the management of YOUR building, here are 5 ways you can get rid of – or fire your Freeholder or Property Management Company.   Have you ever found yourself saying something like …..   “They do little or nothing to maintain the property – and if they do lift a finger, they charge an absolute fortune for a bad job”?   We hear people saying something similar to us regularly. And who are they talking about? The people managing the building where they own a leasehold flat. Someone is not doing their…

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