If you are planning to make home improvements to your property, you may need a party wall agreement before you can start the build. The Party Wall etc Act 1996 is the relevant legislation that comes into force for certain types of building works that affect (and potentially cause damage to) a wall or structure
It certainly does appear that the stamp duty holiday has had a profound effect on the property market. The ‘holiday’ was introduced in the early days of the Covid-19 lockdown and has seemingly fuelled a property buying spree across the country. The lower rate of stamp duty means significant savings for homebuyers, and this has
The COVID-19 pandemic has taken the whole world by surprise. In the UK, we’ve experienced the largest economic downturn in 300 years as a result, with the economy shrinking by nearly 10% in 2020. Against this bleak background, Bank of England forecasts for economic recovery are surprisingly encouraging, predicting a whopping 7.25% growth in 2021.
Responsible home buyers know that the best way to fully understand the asset they are about to invest in comes through the help of a property survey, and that’s where a Chartered Surveyor can add real value. Foundation Surveyors are members of the Royal Institution of Chartered Surveyors (RICS), which enables our team to offer
Recent statistics show that less than 1/3 of homebuyers get an independent survey before buying a property. The other 2/3 presumably rely solely on their mortgage valuation for peace of mind. If the lender approves the loan, having inspected the property, surely it must be in reasonable condition. This is an unfortunate misunderstanding that can
Buying your first home is an exciting time, but don’t get carried away without checking that the building you are about to invest in represents good value for money. A property purchase may well be the most expensive transaction you will ever make. Just as you wouldn’t buy a car without giving it a thorough
If you are the owner of a residential leasehold property, it is in your financial interest to have at least a broad understanding of lease extensions to enable you to take advantage of your statutory rights and safeguard your investment. Leasehold property is a depreciating asset When you buy a leasehold property (typically a flat),
The Party Wall Act 1996 serves as a framework for preventing and resolving party wall disputes. Building owners who are considering starting work on or near a party wall must give adjoining owners notice of their intention. For their part, adjoining owners get a say in what works are carried out, the opportunity to agree
Are you considering building works that fall within the scope of the Party Wall Act 1996? Or have you received a Party Wall Notice to inform you of proposed works that may be affecting your property? Unsure about what to do next? As experienced party wall surveyors, Foundation Surveyors should be your first port of
Our last post discussed how Leaseholders can apply for an extension of their lease, under the Leasehold Reform, Housing and Urban Development Act 1993. Unfortunately, this only applies to eligible Leaseholders (which we also covered in our last blog). To recap, a qualifying Leaseholder needs to: Own a long lease (originally granted for 21 years