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Category: OWNERSHIP
OWNERSHIP
Understanding Peppercorn Rent
In the UK, the term “peppercorn rent” is often encountered in property leases, particularly in older contracts. It may sound unusual, but peppercorn rent has a long history and serves a specific purpose in property agreements. This article explains what peppercorn rent is, its historical context, and its relevance in modern property leasing. What is… Read more
Understanding home reversion plans
A Home Reversion Plan is a type of equity release scheme available in the UK that allows homeowners, usually those aged 65 or older, to sell part or all of their property to a reversion company in exchange for a lump sum payment or regular income, while retaining the right to live in the property… Read more
Extending a property lease
In the UK, lease extension allows leasehold property owners to extend the length of their lease, providing greater security and potentially increasing the value of their property. The ability to extend a lease depends on certain criteria and is governed by specific legal processes outlined in legislation, primarily the Leasehold Reform, Housing and Urban Development… Read more
Understanding flying freehold in property law
Understanding Flying Freehold in UK Property Law Flying freehold is a somewhat obscure but important concept in UK property law. It refers to a specific type of ownership arrangement where part of a freehold property overhangs or underlies another freehold property. This can occur in various scenarios, such as in older buildings where parts of… Read more
Marriage values explained
In leasehold property transactions in the UK, “marriage value” refers to the potential increase in the overall value of a property when it is extended or enfranchised. This concept typically applies to leasehold properties with leases that have a remaining term of less than 80 years. When a leaseholder extends their lease or enfranchises (buys… Read more
Freehold vs Leasehold – understanding property ownership
When it comes to purchasing property in the UK, prospective buyers are often faced with the choice between freehold and leasehold ownership. Understanding the differences between these two forms of property ownership is essential for making informed decisions and navigating the complexities of the UK property market. Let’s explore the key characteristics of freehold and… Read more
Green party announce their housing policy for July election
The Green Party’s housing policy for the July 2024 UK election emphasizes creating sustainable, affordable housing while prioritizing environmental and social considerations. Key aspects of their policy include: Overall, the Green Party’s housing policy aims to address the housing shortage in the UK through sustainable practices, enhancing affordability, and supporting community development. Read more
Housing policy for 2024 election from the conservatives
The Conservative Party’s housing policy for the upcoming UK election focuses on increasing homeownership, supporting renters, and addressing the housing supply shortage. Key elements of their policy include: The Conservative Party’s housing policy is designed to increase the supply of new homes, support homeownership, improve rental conditions, and ensure that housing development is sustainable and… Read more
What is labour’s housing policy for the upcoming election?
The Labour Party’s housing policy for the upcoming UK election includes a comprehensive plan aimed at tackling the housing crisis and ensuring access to affordable and secure housing for all. Key elements of their policy include: Labour’s housing policy focuses on increasing the supply of affordable housing, protecting renters, supporting first-time buyers, and ensuring that… Read more
Liberal democrats unveil housing policy ahead of election
The Liberal Democrats’ housing policy for the upcoming UK election focuses on addressing the housing crisis through several key measures: The Liberal Democrats’ housing policy aims to create a fairer, more sustainable housing market that provides affordable and secure homes for all. Read more