Can I change a Leasehold to Freehold?
If you are a leaseholder, then there is the option of attempting to purchase the freehold of your property. If your property is flat, you may be able to buy a share of the freehold, which you would own alongside the other flat owners. If the property is a house you may be able to […]
The Pros and Cons
There are a lot of potential problems with leasehold ownership. The additional costs and charges can be significant, with the terms of some leases seeing ground rent double every couple of years. As a result, what appears at the outset to be an affordable extra charge can end up costing a huge amount. The service […]
What is a Leasehold?
Leasehold is rather different. You effectively lease ownership of a property for a specific period. This tends to be over a long period but can vary from anywhere between 40 to 999 years. You will have a contract with the freeholder of your property, which sets out precisely what you are responsible for. There are […]
What is Freehold?
Owning a property on a freehold basis means you own not just the building itself, but the land it stands on. You are responsible for looking after everything to do with the property, from your possessions inside, to the walls and roof of the building’s outside structure. As a result, if you want to make […]
Your investment strategy
Buy to Let (BTL) properties deliver a monthly return on investment whilst your property continues to appreciate in value year on year (Capital Appreciation). As such the correct choice of property, once on the market, will provide you with an immediate, and monthly, source of income that recoups your initial outlay, offsets any monthly expenses […]
What is a UKGA HMO?
UK government agencies (UKGAs) act on behalf of the Government’s Home Office in securing accommodation for ‘persons at risk’. There are 3 such UKGA’s that represent the entire country in sourcing and managing rental properties, with lease terms of, typically, 5 years. Though the rental yields are lower than that of Retail HMOs, a UKGA […]
What is a Retail HMO?
A Retail HMO caters to the private market – primarily the professional and student sectors. Typically such HMOs require a Leasing Agent to source and manage tenants and oversee the upkeep of the property. The rental yields are significantly higher than that of a UKGA HMO, though the cost of appointing a Leasing Agent must […]
Retail HMO or UKGA HMO?
It is estimated that there are now somewhere in the region of 2.7M landlords in the UK, and the expectation is that this number will continue to grow. The fastest area of growth in the Buy-to-Let market is in the HMO sector. The UK Government defines an HMO as one whereby: At least three (3) […]
Freehold or Leasehold?
UK homeowners have two main options: freehold and leasehold. With freehold, you own the property and land. With leasehold, you own the property for a fixed period of time but not the land it is built on. Homeownership comes in two main forms in the UK: freehold and leasehold. Understanding the difference between the two […]