user_14547

Registered with Property118.com
Monday 24th July 2017


Latest Comments

Total Number of Property118 Comments: 200

silversurfer2017

11:36 AM, 7th April 2021
About 6 days ago

Ground Rent makes property an AST?

Reply to the comment left by Mike Newman at 07/04/2021 - 10:26
I doubt it is driven by the mortgage provider as they would always step in and clear any arrears rather than forfeit the property. Rather I think it is driven by an overzealous buyer who is perhaps buying leasehold for the first time, done lots of research about the problems of buying leasehold and has found and latched on to this quirk in the legislation that under very extreme and very unlikely circumstances you could forfeit your property because you are in arrears in your ground rent, even though it's just a few hundred pounds. Reassure the buyer that this is an extremely unlikely scenario rather than waste money on an indemnity policy.... Read More

silversurfer2017

8:44 AM, 7th April 2021
About 6 days ago

Ground Rent makes property an AST?

IMO this is just a theoretical problem with relatively low value ground rents. I know of no cases where properties have been repossessed by the freeholder because low value ground rents have not been paid. (in the case of a mortgaged property the lender would step in and pay the arrears). In any case, bear in mind that by the time the ground rent reaches £250 p.a. leasehold reforms will have removed this anomaly of the 1998 Housing Act.... Read More

silversurfer2017

11:41 AM, 16th March 2021
About 4 weeks ago

Communal "garden grab"?

This potential “garden grab” is further complicated by the fact the development is in a conversation area.
So definitely a talking point!... Read More

silversurfer2017

11:33 AM, 16th March 2021
About 4 weeks ago

HMO in private residence?

Reply to the comment left by MargaretM at 16/03/2021 - 10:31
But it it just the one lodger not two lodgers unless they are a couple. You can let the one lodger or couple have the use of two rooms, maybe using the other bedroom as a separate lounge. You can't go down the multiple lodger route that's why I suggested the Airbnb option, which also means you don't have to provided cooking facilities. Most Airbnb booking are for 7 days or less. With Rent a Room you are really providing a home for someone for several months duration. They will not expect to watch TV all the time sitting on their bed, they will want a couple of armchairs, (one for a visitor). They will want to cook at least one meal per day, maybe two if they like to start the day with a full English. With only one kitchen are you going to have 1st and 2nd sittings or be sociable and eat with your lodger? I don't think you have ever done Rent a Room yourself or you would realise the potential problems.... Read More

silversurfer2017

10:21 AM, 16th March 2021
About 4 weeks ago

HMO in private residence?

With rent a room you have a lodger. You have to let them use your kitchen to prepare meals unless you make the bedroom more of a self contained bed-sit with cooking facilities . You have to let your lodger entertain visitors at least on an ocoasinal basis. With Airbnb you do not have to provide cooking facilities. Just a kettle, mugs, spoons, tea and coffee just like you would expect in a hotel room.... Read More