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Important changes to HIPS from April 6 2009 As you may or may not be aware the rules are changing regarding Hips from the 6th April 2009, the main changes are: 1. The ending of temporary ‘First Day Marketing’ (FDM) rules, which allow homes to be marketed without a HIP providing a commitment, is made to get…
Q. Please can you advise me what the term ‘Bona Vacantia’ means? A. The term “Bona Vacantia” literally means vacant goods and is the legal name for ownerless property, which by law passes to the crown. The Treasury Solicitor is the Crown’s Nominee for the purposes of the administration of the estates of persons who…
Q. We have just read the HIP report on the house we have agreed to buy and discovered that the current vendors have built an extension over a public sewer, after making further checks we have discovered that the vendor never sought permission to build over the sewer from Thames Water prior to the build,…
Q. Having rented for the last couple of years I am now starting to think about buying especially since the prices seem to have dropped so much over the last year. What sort of costs to purchase am I likely to incur as a first time buyer? A. Its good to see your thinking ahead…
Q. I have been marketing my property for sales for several months now and have still not sold. My agent has said it’s the price so I agreed to bring the price down to my bottom line in order to establish some interest and encourage an offer at least. I have now at last received…
Q. I need to sell my house and particularly in this time of uncertainty with us all looking at ways to tighten our belts, and with agents fees eating into a substantial amount of my profit I’m wondering if selling my place privately would be advisable? A. It is possible to sell your property privately,…
Q. The tenants I currently have in occupation have been fairly reliable and stress free throughout the last year of their tenancy, that given I’m currently discussing a possible renewal for a further 12 months with my managing agent but I’m hugely disappointed to be told that they are asking for a significant rent reduction,…
Q. I am thinking of knocking a wall down in my house as well as making some other alterations. I’m sure I won’t need planning permission for all the changes I intend to make but how can I be sure, and who should I speak to if planning permission is needed? A. Certain types of…
Q. I have seen a beautiful cottage in the countryside which I am definitely considering buying but the agents details mention the property has a ‘flying freehold’. Firstly what is this and is there likely to be any problems in the future with this type of property? A. A flying freehold exists where a part…
Q. So what impact if any has the reduction in interest rates by the Bank of England had on the current property market? A. Buyer enquiries are on the rise but banks remain tight-fisted. Time for the Government to introduce a mortgage guarantee system, says RICS… The time has come for the Government to take…
