New EWS1 Agreement Featured Image

Almost 450,000 homeowners set to benefit from new EWS1 agreement

According to ‘Property Industry Eye’, owners of flats in buildings without cladding will no longer need an EWS1 form to sell or re-mortgage their property, following a new agreement reached between the government and the Royal Institution of Chartered Surveyors (RICS). Regulations introduced to improve fire safety following the Grenfell fire had inadvertently left flat owners trapped in near-unsellable homes. After the Grenfell tragedy in June 2017, the rules implemented meant that mortgages for flats in buildings over 18m tall would only be approved if they had passed an External Wall Fire Review (EWS1) survey. However, the government and RICS have…

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Why is There a Health and Safety Section in My Service Charge Budget Featured Image

Why is there a Health and Safety section in my Service Charge budget?

Click on the video below to listen to Property Manager, Jamie explain why there is a Health and Safety section in the Service Charge budget.     “The Health and Safety section in your Service Charge budget will mainly cover the costs for both the Health & Safety and Fire Risk Assessment to be carried out.  It is vital that a risk assessment is carried out in your block to highlight any potential hazards and to rectify them accordingly, so the block is fully compliant with all health and safety regulations.”  

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Health and Safety Risk Assessment Featured Image

Health and Safety Risk Assessment

Click on the video below to listen to Property Manager, Lewis explain why a Health and Safety Risk Assessment needs to be carried out.     “The duty to comply with the Health & Safety and Fire Regulations falls on the landlord or the person responsible for the management of the building. This could be a Managing Agent, a Residents Management Company, Residents Freehold Company or a Right to Manage Company. But failing to carry out a Risk Assessment at certain intervals, you are leaving potential health hazards unresolved which over time could have a detrimental effect on the building…

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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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Do you think Commonhold will come into play in England and Wales Featured Image

Do you think Commonhold will come into play in England and Wales?

Listen to Property Manager, Lewis discuss his thoughts regarding Commonhold.     “Currently, no! There are little incentives that offer developers a good enough reason to choose Commonhold over Leasehold from a financial prospective. Unless this changes, there is no clear sign of an increase to the current amount of Commonhold owned properties in England and Wales. However, it is something that the Law Commission is reviewing and will be publishing their reports on.”

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Fraudsters nearly stole a property featured image

Fraudsters nearly stole a property!

  An article in the Daily Mail today tells the story of one lady’s property title fraud… “My four-bedroom house in South London is my most valuable asset. I bought it for £345,000 in 2002 and it is now mortgage-free and worth about £850,000. But I never dreamed that one day a fraudster would be so bold as to try and steal it from under my nose. I did not even think it would be possible for anyone but me to transfer ownership to another person – yet that is exactly what happened. And while it seemed to be easy…

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Health and Safety update Featured Image

Health and Safety update!

Health & Safety is the one thing that keeps property managers awake at night. It’s a constant worry and no property manager can be complacent – no matter how pro-active you are, there is always a risk. At BW Residential Ltd we are lucky to have the help and advice of Dom Maree. He is a Property Management Health & Safety Specialist, with qualifications in all the right areas together with a great understanding of the constraints within which property managers have to work. We find his risk assessments helpful, understandable and practical. Read his latest Bulletin by clicking the…

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Can I sublet my flat? Featured Image

Can I sublet my flat?

Click below to listen to BW Residential Property Manager, Lewis Hood talk about subletting your flat and whether you would be in breach of your contract or not.     “Your lease will provide details on whether you are permitted to sublet your flat.  The majority of leases will allow you to sublet but you will often need permission from the freeholder.  We would recommend reading your lease and contacting your freeholder to gain permission before subletting your flat.  As if you do not get permission, you will be in breach of your lease.”

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Unfair leasehold arrangements Featured Image

Unfair leasehold arrangements.

  An interesting article was published recently regarding a government backed pledge to stop leaseholders being trapped in unfair and costly deals.  Companies such as Taylor Wimpey and Barratt Homes have already signed the government-backed pledge, which commits them to doing away with onerous ‘doubling clauses’ that can result in ground rents soaring exponentially over a short period of time. The freeholders who have signed, have committed to changing the terms of leases for those who are affected. Other industry bodies such as Managing Agents have also put their names down, vowing to act fairly and transparently in their dealings…

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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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