If you already own, or are considering purchasing a leasehold flat, it is important for you to understand the common issues that arise. ALEP’s Honorary Secretary, Alex Greenslade, outlines the basics every would-be buyer should know.
Every other month we look in detail at what the property price reports are saying to see if we can spot what the latest trends are and look beyond the ‘headline’s to help buyers, sellers and investors really understand what’s happening to property prices and more importantly why.
My monthly property price summary looks at what all the main property price indices are reporting during the month. The indices range from Rightmove which only records asking prices through to Land Registry which is sold property prices but only tells us what has happened in the past.
In life most people agree that you get what you pay for – except in property. Here everyone seems to think that ‘all agents’ are the same, everyone ‘pays cash’ and avoids VAT when carrying out property projects and that somehow most of the property industry is in ‘cahoots’ to do consumers out of a deal.
Houses of Multiple Occupation (HMO) are often a wonderful source of rental income. In comparison to a standard buy-to-let property the rental yields can often be double. However a number of other factors need to be considered before embarking on the HMO route.
