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Q. Can you explain what purpose a ‘reserve fund’ or ‘sinking fund’ serves? A. Many leases provide for the landlord to collect sums in advance to create one or more reserve or ‘sinking’ funds. The purpose of such funds is to build up a sum of money to cover the cost of irregular and expensive…
Q. After a bidding war that resulted in sealed bids, I managed to secure my dream property, everything seemed to be going well and my survey was carried out and that came back fine. I had a shock today though as I had an email from my estate agent saying unfortunately the Vendor had decided…
I have good news to report this week. It appears that things are finally starting to return to what was once considered ‘normal’. The last couple of weeks have seen buyers back out in force. We are seeing a good mixture of applicants right now ranging from cash overseas buyers to teams of first time…
Q. With regards to home improvements and general decoration is there anything I should avoid considering I will want to sell next year? A. Great question! Of course we all have different tastes and styles when it comes to interior design, and certainly some of us are way more flamboyant and adventurous than perhaps our…
Q. I’m looking to buy in canary wharf and wondering whether I’m best to opt for one of the many new homes available or go for a resale in one of the older developments? A. Good question and one that’s often asked. It very much depends on what is important to you as a buyer.…
Q. What is a Covenant? A. There are two types of covenant – a Lease and a Land Covenant. If you are looking at purchasing a leasehold property you would without doubt be entering into a lease agreement with the freeholder/landlord to lease the property for a fixed number of years. This may be 99 years,…
Q. I’m buying my first property and very excited but at the same time apprehensive as the sellers of the house I am buying now need to find a property themselves. I have asked how long this will take but my agent is telling me they can not say. I have suggested exchanging as soon…
Many potential buyers that I’ve taken out recently have voiced concerns on the area of canary wharf and whether or not it’s still a great place to invest/live in considering the amount of new build both completing and still being constructed. Many feel there could be more supply than demand in the months to come?…
Q. I’m buying my first property and my solicitor has just sent me a cop of the Lease can you explain to me what a Lease is? A. A lease is a contract between the leaseholder and the landlord giving conditional ownership for a fixed period of time. It is an important document and leaseholders…
Q. My next door neighbour is building an extension that I am not happy about, I have heard about the ‘Right to Light’ Act can you tell me more? A. One of the most common Right to Light issues are extensions, but can be anything that blocks light including garden sheds etc Right to Light…
