When selling your home, you may recall the expression ‘buyer beware’. But what does this mean, and is it still relevant today? ‘Historically, the buyers in a conveyancing transaction have been responsible for satisfying themselves on a property’s suitability,’ explains Chloe Smart, a Director and the Head of Residential Property with Landsmiths Solicitors. ‘Nowadays though,…

Commercial tenants will know that the rent they pay is only one part of the overall cost of occupying their premises. A service charge is another significant cost and, unlike rent, it can fluctuate from year to year depending on what the landlord intends to spend on maintenance and other services. Commercial tenants keen to…

Nearly 10 per cent of land in England and Wales has never been registered at HM Land Registry, usually because the owner bought the property a long time ago or inherited it. ‘If your property is not registered, this should have little or no impact on you on a day-to-day basis. However, it could put…

Charities enjoy favourable tax status but must follow a range of statutory rules, and this includes obligations in regard to leasing premises and property transactions. The trustees must take care to follow the proper process if they want to sell or let their land or use it to secure borrowing. ‘There is also a possible…

As mortgage interest rates remain high, more homeowners are struggling financially. While a repossession is a last resort for lenders, the number of them is increasing and the trend looks likely to continue. However, it is an ill wind which blows nobody any good. If your own finances are sound, buying a repossessed property could…

In challenging economic conditions, commercial property landlords must be prepared for tenants to hit financial difficulties and for some to go out of business. If your tenant becomes insolvent, there are legal restrictions on the kind of action you can take which will be different depending on the type of insolvency process your tenant is…

Rising interest rates have dominated the headlines recently, with the Bank of England estimating a million households could see their monthly mortgage repayments increase by £500 over the next three years. If you are affected, you may even be thinking about giving up your property so you will no longer have the burden of a…

No commercial landlord wants their property empty. A vacant unit costs money in repair, insurance, and business rates, without producing any income; and it could be vulnerable to vandalism or squatters. Getting a short-term occupier into your property is a great way to keep it ‘alive’ and bring in rent while you look for a…

A home with outside space appeals to many of us, but it may be hard to find somewhere affordable with a garden and, even then, you may not want the responsibility of its upkeep. A balcony or roof terrace could give you that much coveted al fresco space without the maintenance headache. ‘It is certainly…

In a bumpy market, it pays to be well-prepared before you put your commercial property on the market. Your solicitor will help you to be ready for the kinds of questions you should expect from prospective buyers as they and their solicitors carry out due diligence checks. The more potential problems you can spot and…

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© Landsmiths Solicitors is a business name of Landsmiths Legal Limited, a private limited company registered in England and Wales under Company Number 12544060 VAT Registration No: 372 8281 77. Landsmiths Legal Limited is authorised and regulated by The Solicitors Regulation Authority firm no. 802873, with its registered office at Stoney House, 26-30 Stoney Street, Nottingham, NG1 1LL. Its Directors are Rachael Briggs, Vikhen Moothia and Chloe Smart.

You can find out more about the Solicitors Regulation Authority including their contact details and professional conduct rules on their website: www.sra.org.uk

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