Mary-Anne Bowring 02/09/2020
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New "How to Lease" Guide Released
- The government has released a new guide for homebuyers, similar to the "How to Rent" guide for tenants, explaining leasehold properties in a clear and accessible way.
Leasehold Complications for Homebuyers
- Many leaseholders face issues with their freeholder or lease terms because they didn't fully understand the complexities of leasehold ownership before purchasing.
Consumer Protection and Lease Information
- The government has the power to ensure estate agents provide key leasehold terms in sales information, helping buyers make informed decisions and mortgage valuers assess properties accurately.
Push for Transparency in the Homebuying Process
- The Institute of Residential Property Management (IRPM) and others are lobbying for mandatory transparency regarding leasehold terms, encouraging better information sharing by estate agents.
How Will the Guide Help Homebuyers?
- The guide could make a real difference if estate agents are instructed to provide it to all prospective leaseholders and discuss key points to help buyers understand the terms.
Ensuring Proper Communication
For the guide to be truly effective, estate agents must actively engage with buyers, ensuring they understand the leasehold terms and can ask questions with informed responses from solicitors or agents.
Meet our Expert Property Commentators
Mary-Anne Bowring FTPI FRICS FARLA FCABE Founder/Head of Asset Management
Strategic partnerships, holistic delivery/ opportunities, growth, value engineering, thought leadership
Ian Barber MD BTR Mobilisation & Leasing
Runs HQ & site lease-up teams. Drives rent pricing, mobilisation, marketing, happy residents!
Jon Curtis MRICS Head of Building Engineering
Chartered Building Surveyor. Lectures on EWS1 & building safety. Runs CapEx programmes.
Kate Robinson MTPI MD Blocks/FM Management (London Region)
Master plan setup, ops and staffing and resident engagement. ISO45001 champion.
Lee Harle Partner Ringley Law
Plot conveyancing. Debt litigation. Group Company Secretary.
Natalie Birmingham Helpdesk Support Manager
Trainer & Helpdesk Manager: people, systems,contractors. ISO45001 supply chain accreditation.
Chris Georgalis MRICS Head of Commercial Valuation
Chartered Valuer. Rental valuations: retail, leisure. IRR modelling and valuations for secured lending. Compulsory purchase & rent reviews
Nichola Pughe MRICS Head of Residential Valuation
Chartered Valuer. Rental development & mixed use valuations, IRR modelling. Leasehold enfranchisement specialist
