If you are considering buying a commercial property, it is up to you to find out as much as possible about the property and the surrounding area before you commit yourself. You will need a solicitor to carry out formal searches of public data and look at any legal issues, but you must also look…
The Government’s 2024 Spring Budget saw significant changes to the way property is taxed, including the imminent abolition of multiple dwelling relief. This will primarily affect investors looking to buy multiple properties at the same time, however, it could also affect you if you are buying a property that comprises more than one unit, such…
The most successful commercial landlords take an active approach to managing their properties, and there is more to this than making sure the building is well-maintained. It is also important to check that your tenants are not causing a nuisance to others or acting illegally, as if you do not enforce the tenant’s obligations in…
Research suggests that nearly a third of recent sellers have suffered gazundering, which property pundits attribute to a downturn in the market. But, in some areas, the lack of suitable properties means there is still fierce competition for homes, with buyers trying to outbid each other via gazumping. ‘It is certainly a challenging time to…
If you take a lease of business premises, your landlord may ask you to ‘contract out’ of statutory rights that apply to business tenancies. Before making that decision, you need expert legal advice to understand what rights you are giving up and how that might affect your business in the future. ‘If your business is…
When selling your home, you may recall the expression ‘buyer beware’. But what does this mean, and is it still relevant today? ‘Historically, the buyers in a conveyancing transaction have been responsible for satisfying themselves on a property’s suitability,’ explains Chloe Smart, a Director and the Head of Residential Property with Landsmiths Solicitors. ‘Nowadays though,…
Commercial tenants will know that the rent they pay is only one part of the overall cost of occupying their premises. A service charge is another significant cost and, unlike rent, it can fluctuate from year to year depending on what the landlord intends to spend on maintenance and other services. Commercial tenants keen to…
Nearly 10 per cent of land in England and Wales has never been registered at HM Land Registry, usually because the owner bought the property a long time ago or inherited it. ‘If your property is not registered, this should have little or no impact on you on a day-to-day basis. However, it could put…
Charities enjoy favourable tax status but must follow a range of statutory rules, and this includes obligations in regard to leasing premises and property transactions. The trustees must take care to follow the proper process if they want to sell or let their land or use it to secure borrowing. ‘There is also a possible…
As mortgage interest rates remain high, more homeowners are struggling financially. While a repossession is a last resort for lenders, the number of them is increasing and the trend looks likely to continue. However, it is an ill wind which blows nobody any good. If your own finances are sound, buying a repossessed property could…