Estate Agent e-news

Budget reaction

Napthens - November 22nd 2017
The abolition of Stamp Duty for first time buyers purchasing properties up to £300,000 is to be welcomed. According to the UK House Price Index for May 2017, the average property value in the UK was £220,713, so this will definitely generate some movement from the bottom up. The change will assist some downsizers as well.
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Leasehold property – is there a problem?

Napthens - October 24th 2017
There has been a lot of press coverage recently, mostly negative, in relation to owning leasehold properties.  As a result, some prospective purchasers feel nervous about the thought of buying a leasehold property, or are put off altogether. Reforms to leaseholds have been proposed, and it is hoped that these proposals will move forwards, particularly the issues current leaseholder face.
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Probate sales – what you need to know

Napthens - August 30th 2017
In order to sell a property where either one or both of the joint property owners has died, it is vital to be aware of the documents and process required. Knowledge of the situation and preparation is key to ensuring a smooth sale. An understanding of the process will also assist in the management of expectations.
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Buyer beware! Lease provisions to be aware of

Napthens - July 25th 2017
If prospective buyers are looking to purchase a leasehold property, whether a flat or a house, it is essential that they review the lease terms as early as possible. The lease may contain certain restrictions and regulations which could potentially affect whether the buyer actually wants to proceed. It is no good for the buyer or the seller to get close to an exchange of contracts, spending time and money on the conveyancing process and then suddenly discover that the lease prevents the buyer from dealing with the property as they would like.
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How many years are left on the lease? Is this relevant?

Napthens - May 25th 2017
When selling a leasehold property, one of the first questions you will ask your seller client is, what is the length of the lease term? You will usually provide details of the lease term within the sales particulars, and the length will have a direct impact on the market value of the property
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What is Japanese Knotweed?

Napthens - April 27th 2017
Japanese Knotweed arrived in Britain in 1850 as an ornamental plant, labelled “Plant number 34” in a box of 40 Chinese and Japanese varieties that were delivered to Kew Gardens. It is a strong-growing perennial.
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