Blog: The beginning of the end of leasehold 

Leasehold property owners are set for important changes in the coming months. The Government is planning to grant new rights on lease extensions and ending ground rent, which signals the beginning of the end of leasehold and this form of ownership. The government has indicated there will be a shift to ‘commonhold’ on the horizon, but the benefits to householders are likely to take time to filter through. Nearly all flats and some houses in England and Wales are owned on a leasehold basis, giving the owner the right to…

Stamp Duty Land Tax: 2% surcharge for non-UK residents

In the Spring 2020 Budget the government confirmed that non-UK resident who bought residential property in England and Northern Ireland will be subject to an increased rate of Stamp Duty Land Tax (SDLT). A surcharge of 2 percent will be imposed on transactions with an effective date on or after 1 April 2021. A non-resident residential purchase (for more than £40,000) of a major interest in land, where the buyer is (or, if there is more than one buyer, includes) a person who is non-resident. On 26 October 2020, HMRC…

COVID-19 update: Protections from forfeiture for non-payment of rent

In October, our blog explained how commercial tenants should act without delay when applying for relief from forfeiture from non-payment of rent. A further update to this is that business tenants affected by COVID-19 will continue to benefit, until 31 March 2021, from: Protection from forfeiture for non-payment of rent. This will bring the length of time business tenants have been given support from the threat of eviction to one year. Restrictions on landlords recovering unpaid rent by the exercise of commercial rent arrears recovery. If you would like any…

Property boom as home and overseas buyers rush to beat the deadline 

Property buyers are fighting off the pandemic to catch a new home before stamp duty goes back to its normal rate.  For overseas buyers, the race is even more important, as the rate will carry an additional surcharge for them from April. As part of the range of measures to provide economic support through the Covid-19 pandemic, the Government introduced a temporary holiday for Stamp Duty Land Tax (SDLT) on the first £500,000 of purchases, but this will come to an end on 31 March 2021, when it will revert…

Renewing a commercial lease – what can be negotiated?

Most lease renewals are governed by the Landlord and Tenant Act 1954, and the rules can be complicated and confusing. However, if your commercial lease is up for renewal, you want to ensure you get the most favourable terms for your business. In this post, we look at the key things to negotiate when renewing a commercial lease to help you understand what terms you might be able to change. How do I renew a commercial lease? If you would like to renew the lease on your commercial property, you…

What happens during a Sale of a Commercial Property

It's important when selling a commercial property, that you are aware of the process and documents required to complete the transaction and to satisfy the buyer. We have provided a brief summary of the steps taken by us as your solicitor when dealing with the sale of a commercial property: Step 1 After we have been instructed and the heads of terms have been agreed, we will prepare a draft contract which we will send to the buyer’s solicitor for approval. We will also provide up-to-date Land Registry title documents…

Interview with Huseyin Youssouf of our Commercial property department

Interview with Huseyin Youssouf, Partner in our Commercial property department Q: How long have you worked at Bowling & Co? A: Since 1 January 2000, 19 years and counting. Q: What areas of law do you mainly deal with? A:Commercial property/ Finance, Businesses, High street shops, hotels, care homes, golf course as well as the usual plethora of investment properties and Residential property Q: What aspects of law first attracted you to the profession? A: From the outside it seemed like a prestigious, respected and well rewarded profession. I was…

Sign of the times – do you need planning permission for a sign?

Everyone knows that you may need planning permission if you’re extending your house, adding a new building to your business complex, or even putting up a large wall. But did you know that you may also need permission for a sign? It all depends on how big the sign is, and whether it’s an illuminated design or a simple temporary banner. If you want to display an advertisement on the front of your property that’s larger than 0.3sq metres then you might need to apply for advertisement consent. That’s not…

Where there’s a Will, there’s a way

When thinking of making a will, the idea of a Victorian lawyer taking down the last instructions at the bedside still springs to mind for many people. And the 19th century lawyer would find things pretty much as they were if they time travelled to 2017, but a major change to how people can say what should happen after their death is likely to happen soon. If the proposals from the Law Commission get the go ahead, the law is likely to catch up with technology, and in future we…

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