Leasehold

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…

Read More
Furness House Featured Image

BW Residential Ltd have taken on another property to manage.

        BW Residential Ltd have taken on another property to manage from a long standing client – ‘Furness House’ which is situated in the centre of Redhill, Surrey. Previously an office, this building has just been transformed into 71, one and two bedroom bespoke apartments over four floors. If YOU would like BW Residential Ltd to manage your building, please call us on 02380 847111.

Read More
Fraudulent EWS1 Forms Featured Image

Fraudulent EWS1 Forms

Which? magazine have just published a disturbing and important article, advising that scammers are signing off fraudulent EWS1 forms, sometimes adopting real Chartered Surveyor identities. The article sets out the many serious implications of fake EWS1 forms – the forms needed before a flat can be sold where a building has cladding (in the wake of the Grenfell Tower fire).  This is a very serious matter and all managing agents, leaseholders and conveyancers are currently on high alert to spot fake forms. The Institute of Residential Property Management (IRPM) has reminded its members that they must NOT sign off EWS1 forms…

Read More
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…

Read More
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.”

Read More
What is the difference between Leasehold and Commonhold ownership Featured Image

What is the difference between Leasehold and Commonhold ownership?

Click on the video below to listen to Property Manager, Jamie discuss the difference between Leasehold and Commonhold ownership.     “The difference with Commonhold is the individual property owners own everything. There is no landlord or freeholder to worry about. Each property owner becomes a member of the Commonhold Association, which owns and manages the shared part of the property, under a set of rules approved by the association. Under leasehold ownership, this is limited by time. Once the lease is expired, it will revert back to the landlord.”

Read More
Case Study of BW Residential Ltd Featured Image

Case study of BW Residential Ltd

Click here to read how BW Residential Ltd were approached for a case study by award winning software company ‘Inform Direct’.  ‘Inform Direct’ provides a cost-effective, comprehensive solution for property management companies offering a company secretarial service to their clients.  

Read More
What is Commonhold Featured Image

What is Commonhold?

Click on the video below to listen to Property Manager, Lewis discuss what Commonhold is.     “Commonhold is a type of property ownership which was introduced with the overall aim to replace leasehold by simplifying the system where a set of rules will apply to any commonhold property. To date, there are approximately fifty blocks of flats which are commonhold properties in England and Wales.”

Read More
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.”

Read More
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.”

Read More