BuyingWiz

Should I rent?

The advantages and disadvantages of renting or buying somewhere to live

2008 Property Investor Show (UK)

This year’s Property Investor Show will be held in Manchester from 9-11 May. Entry is free for visitors and you can book tickets online (see link below). This exhibition is the property event for serious investors. So if you are considering buying residential or commercial property for investment purposes – in the UK or abroad [...]

Should I buy a house with a ground-floor bathroom?

Is an unconventional bathroom location a reason not to consider buying a house?

One building, three leaseholds – what to do?

The ins and outs of consolidating leaseholds in a converted house.

Property ownership in England and Wales

An explanation of the most common forms of property ownership in England & Wales – and their respective pros and cons.

Shared Freehold Ownership

An explanation of the ins and outs of shared freehold ownership – very common in flat conversions.

Lease extension on Freehold property

Sharon writes:

I am purchasing 1 of 6 flats in a conversion property (due to exchange this week). I am buying a share of the freehold but the lease is 71 yrs now. My solicitor said that as we are not renewing the lease at the same time there may be a problem with this after and if we can’t renew it the flat may be unsellable.

Is this the case and what are the obstacles that may prevent us from renewing it? All the flats have 71 yrs and nobody has applied to renew yet.

Completing and Moving In

All that remains after exchanging contracts is to pay over the money needed to buy the property, less any deposit already paid at exchange, on the agreed date. Your solicitor will get the mortgage funds direct from the lender and the remainder (if any) from you, and then pass it all on to the seller. [...]