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leasehold property

Interview with Laura Gill of our Residential department

Interview with Laura Gill of our Residential Property department Q: How long have you worked at Bowling & Co? A: I joined the firm approximately 18 months ago and work in the Residential team.  Q: What is the typical time frame for a property transaction to take, from start to finish? A: That's a tough question! It really depends on the type of property transaction. The average would be, say 6 to 8 weeks for a freehold property and around 8 to 12 weeks for a leasehold property. However, those average timescales…

To make your home your castle, be sure who owns the drawbridge

The Government has announced plans to tackle unfair leaseholder arrangements on new build properties, but in the meantime, as the Spring housing market gets into full swing, it’s worth understanding the difference between freehold and leasehold property. Increasing property prices and high population densities have seen a big increase in the number of leasehold properties across the country, as houses are split into flats and new apartment blocks are built, so there are now 1.4 million leasehold houses across England. And while leasehold arrangements are generally seen as a simple…

Protecting your assets: extending your lease

Many people who own a leasehold property will – at some point - face having to make a difficult decision about whether or not they should extend their lease. With an aging and growing population and with the continuing trend of developers building blocks of flats, this question can only become more prevalent. The first question that will, naturally, spring to cross one's mind is: how? Followed closely perhaps by: it is worth the time and expense? In an era where most people look for ways to create wealth, extending…

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