Tag: Leasehold
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The £7,000 Service Charge: Could You Still Sell the Flat?
Service charges in older tall buildings can exceed £7,000 a year on average. Buyers need to understand the current bill, reserve fund, major works and future saleability before exchange.
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Can a defective lease stop you selling or remortgaging your flat?
A lease defect may go unnoticed for years, only to emerge when you try to sell or remortgage. Here is what the problem can mean, how it may be addressed and why the records from your original purchase could matter.
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Renters’ Rights Act 2025: Proactive Steps
With the Renters’ Rights Act Information Sheet 2026 now published, conveyancers have a unique window to add value to their clients and future-proof their own precedents. The goal is simple: ensure your Buy-to-Let (BTL) clients are compliant by the 31 May 2026 deadline, avoiding the new £7,000 local authority fines. The Precedent Audit: Quick Wins…
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Santander Conveyancing Panel: Important Update to Ground Rent Requirements
For firms on the Santander Conveyancing Panel, staying aligned with the lender’s evolving criteria is essential to ensuring smooth completions and avoiding post-offer delays. Santander has recently updated Part 2 of the Lenders’ Handbook, specifically under Section 5.14.9, introducing new benchmarks for acceptable ground rent provisions. As leasehold reform continues to be a focal point…
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Lender Updates Leasehold Policy
MPowered Mortgages updated their P2 policy for leasehold properties, setting strict guidelines for ground rents, maintenance charges, and property valuations. Legal firms handling CQS should be aware of these changes.