Blake Morgan's Residential Property Spotlight
Welcome to Blake Morgan's latest edition of Residential Property Spotlight, bringing you a round-up of the topics most relevant to you and your clients. Shining a light on developments in the residential property market.
How to sell a flat with a short lease
How do I sell a flat with a short lease? If this situation is sounding familiar, it’s likely that all is not lost. Blake Morgan looks at your rights and how you could be entitled to an extension of 90 years in addition to the remainder of the existing term.
Japanese Knotweed - The neighbour from hell
Japanese Knotweed is a non-native invasive species and is the most invasive plant in the UK. It grows rapidly, the roots are extremely wide spreading and can penetrate foundations and concrete, so can cause considerable physical damage to buildings and land. This will affect the value, marketability and insurability of property. Blake Morgan looks at two cases which serve as a reminder that you owe your neighbour a duty of care, so should always take reasonable steps to minimise the risk of Japanese Knotweed encroaching onto neighbouring property, to avoid the risk of any claim.
Looking to bag a bargain at auction? How to avoid the pitfalls of the auction house
March 2018 saw auction houses reporting increased year-on-year sales within the UK residential property sector. With auction transactions appearing to be on the rise, Blake Morgan outlines some top tips for buying a property at auction.
Reservation agreements: A way to reduce failed transactions or yet another obstacle to homebuyers?
The government recently published the outcome of its consultation on improving the home buying and selling process and one of the resulting proposals was the introduction of reservation agreements. Blake Morgan explores whether they are a way to reduce failed property transactions or yet another obstacle to homebuyers.
Speed dating for property partners
Would you buy a house with a complete stranger? With younger generations struggling to climb the property ladder, first time buyers are turning to 'speed dating' to find the perfect property partner. But any people buying together, whether strangers or not, need to carefully look at the issue of co-ownership. Blake Morgan looks at what you need to consider.
SDLT First Time Buyers’ Relief
Starting from the day of the Budget on 22 November 2017 relief from Stamp Duty Land Tax (SDLT) has been available for first time buyers paying up to £500,000 for a residential property within England, Wales and Northern Ireland completing on or after Budget Day. Blake Morgan's stamp duty land tax specialist explains the more complex parts of the rules that may catch people out regarding the relief, with examples.
If you have any queries or would like further information on how we can help you, please contact your usual Blake Morgan adviser.