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Monday, 6 June 2016

How to buy the freehold to your lease

Once you have lived in your leasehold property, you may decide that you like the area and property enough and have the finances in place to purchase the freehold to the property. The difference between leasehold and freehold is that as a leaseholder you only own the right to occupy the building during the length of the lease but as the freeholder you own the property outright. This article will explain the process of buying the freehold to your leasehold property.

New legislation has made the process of buying the freehold to your leasehold property easier and it’s also possible to do it as a group of leaseholders who lease individual flats within one building. To have the legal right to buy the freehold you must meet certain requirements; if you do you can force the freeholder to sell the freehold to you. Alternatively, you can negotiate with the freeholder and purchase the freehold by mutual agreement.

Wednesday, 11 May 2016

13 leaseholder rights

If you own or plan on owning a leasehold property it is important that you understand the legal nature of this type of property ownership.

The ownership of a leasehold property is very different to owning the freehold, as our article ‘The difference between leasehold & freehold’ explains in detail. This article will focus on your rights as a leaseholder, which should be outlined in your leasehold contract with the landlord. 

One of your simplest rights is that you will have the right to peaceful occupation of the property for the duration of the lease, called ‘quiet enjoyment’. Contractually, you also have the right to expect the freeholder to maintain, repair and manage any shared parts of the building. Shared areas are parts of the property that you do not own as part of your lease but have the right to access. Shared parts of the building are likely to include the exterior of the property, the entrance hall and staircases. There are many other rights that the leaseholder has and should be aware of.

Monday, 2 May 2016

Top tips for new business investors

Investing in a business is a great way to increase the return on your savings but it is also risky and without the correct preparation you could lose all of the investment. You should also pay particular attention to how you can invest in businesses as there are many options and variables that could affect your decisions. If you are interested in business investing, the following tips should hopefully help you make decisive decisions.

Don’t gamble
It is vital that you research the business you are interested in to evaluate how successful the business is likely to be and whatever you do, do not make snap decisions. There are several aspects of a business that you should look into. The first should be the size of the market for the product or service the company is offering. You need to ensure that the market is big enough for the company to grow sufficiently to see a return on your investment. Your next challenge is to appraise the managers of the business to ensure the company has the right people to drive the business forward.

Tuesday, 12 April 2016

Investing through crowdfunding

When exploring how to invest in businesses you will discover that there are many methods available and you should not overlook the option of investing through a crowdfunding website. There are two types of crowdfunding. The most common campaign is where a business offers people a product (often at a discount) or gift in return for their money. The second form of crowdfunding is where businesses offer equity shares in return for their money.

Thursday, 7 April 2016

How to extend your leasehold’s length

In a previous article we explained the difference between owning a leasehold and owning a freehold. This article looks specifically at how to extend the length of a leasehold if you own one.

If you have bought a leasehold to a property, you own the right to live in that property for a specific number of years. Eventually however, your lease will run out and the ownership will return the freeholder. Additionally, if you have less than 60 years left on your lease it will be almost impossible to remortgage which will drastically reduce your ability to move home. Therefore you should avoid allowing your lease to drop below this threshold.

Friday, 18 March 2016

2 major benefits of buying a leasehold

It can be very difficult getting on the property ladder and because of the expense involved many people choose to rent instead.

Becoming a leaseholder could be a better solution. In a previous article we explained the difference between buying a freehold and a leasehold; freehold is where you own the property and the land outright and leasehold is where you lease the property from the freeholder for a particular period of time.

However, if you are considering buying a leasehold property you should make sure that you choose a property with a long lease otherwise you can expect the value of your lease to quickly decline.

Friday, 4 March 2016

Negotiating investment terms

Before you begin looking for an investment opportunity it’s important you know how to invest in a business. Once you are ready to make an investment in a business you must remember that the negotiation process is the start of a long-term business relationship so it’s crucial that the partnership gets off on the right foot.

Both parties should have the similar long term objectives and therefore the investment should reflect this and ideally it should be balanced. Previous experience within the industry you are investing in counts for a lot and most businesses will be looking for expertise as well as capital value.

Monday, 22 February 2016

Selling your home but want to back out?

Selling your home can be a difficult decision to make and you may have some doubts about whether you are making the right choice. In previous articles we have discussed the process of buying and selling property and this article will focus on what you should do if you want to retract the sale of your home. 

There are many reasons that you may wish to stop the sale of your property but it’s important that you make this decision as early in the selling process as possible. If you decide to pull out before the contracts are exchanged you will only have to pay your solicitor or your licensed conveyancers fees and the expenses of your estate agent. Estate agents will usually take their fee once the sale is complete but make sure you check their terms and conditions because you may still have to cover their advertising, ‘for sale’ board fees and any other costs they may incur. If you have instructed a solicitor or a licensed conveyancer to start the conveyancing process you will probably have to pay them for the work they have completed to date or you may have to pay an agreed fee dependent on the arrangements you make with these firms.

Wednesday, 3 February 2016

How to find great businesses to invest in

It can be very risky investing your hard earned cash in a business but there are ways you can reduce the risk and increase the chance of finding the next big thing.

The very nature of investing means that you must be prepared to lose as well as gain money. However, carefully considering the qualities of a business and using your previous experience of the market sector can help you make an informed decision which should increase your chance of success.

Wednesday, 20 January 2016

How to get the best investment agreement

There are many methods of raising capital for your business but securing an investment can be very difficult. This sometimes leads to businesses rushing into deals because they are keen to get hold of any investment without first taking the time to step back and assess the implications of the investment agreement and, critically, understanding the terms. Therefore, from an early stage you should make sure that you fully understand the investment deal that is on offer, take legal advice from a specialist team and pay particular attention to the key terms.

One of the most fundamental terms will refer to the amount of equity shares the investor wants in return for their investment. Most investors will ask to have equity shares in the company they are investing in and this can be anything from 1% to 51% or more. 51% would be a majority share and would mean the investor has control of the business but most investors do not want this so would usually pitch their equity share return between 15% - 30%.  That would allow sufficient remaining equity to enable the business to obtain further investment at a later date.

Tuesday, 12 January 2016

How to re-negotiate after a property survey

The process of buying and selling property can be fraught with stress and frustration.  As a seller, there is nothing worse than receiving a survey report for your property that is essentially a long list of expensive repairs. It can add additional stress to the process as you are likely to be worried that your buyer may pull out, but their first approach is likely to be an attempt to re-negotiate the price.

In some instances, where the report only shows minor repairs, you may be able to persuade the buyer to stick to the previously agreed price. However, survey reports don’t always make this easy to achieve.

Wednesday, 6 January 2016

An overview of winding-up orders

If you find yourself in a situation where a company owes you money and is refusing or unable to pay then, with the help of a solicitor, you may be able to petition the court for a ‘wind-up’ order.

In England and Wales  a wind-up order can be served to a company if their total debts to you equate to more than £750. With legal counsel you also need to be able to prove that the company is unable to pay the debts and serve specific forms to the court.

Evidence of the company being unable to pay their debts could be a certificate of personal service or substituted service which includes details of the services you provided to the company and details of your requests for payment.  It could also be a statement from a bailiff’s company to inform you that they cannot recover assets of enough value to cover the debt in question. This helps to demonstrate to the court that your previous attempts at recovering the debt have been unsuccessful.