See page 26 in RICS Management Code :
https://www.rics.org/globalassets/ri...ition-rics.pdf...
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Gordon999
Senior Member
Last Activity: 25-02-2021, 22:14 PM
Joined: 27-08-2008
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The valuation of a flat is adversely affected by :
(a) "wrong location" such as next door to refuse collection centre or cemetry or "up north" or "no bus service " or tower block with combustible cladding .
(b) "lease with remaining short term"...
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If OP is already charged interest at "standard variable rate", does this mean the outstanding mortgage loan can be repaid without penalty ?
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https://www.directline.com/home-cove...-is-a-stopcock
Is a Stopcock a Legal Requirement?
It is now a legal requirement for every home to have at least one stopcock. Most properties will have one, situated somewhere close to the water input from the main supply.
...
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Since you are planning to sell, you could ask three local estate agent to quote you their estimated valuation figure for :
(1) your flat with the freehold and
(2) the other leasehold flat with 64 years remaining.
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The rules on collective enfranchisement are given in the free guide which can be downloaded from :
https://www.lease-advice.org/advice-...tting-started/
Nothing to prevent you making an offer.
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I think " the proposed cupboard under the stairs" ( within your demised property ) is not an "alteration" covered under the lease.
Its a "removable partition", it is not an alteration.
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Making Tax Digital for Income Tax
Self-employed businesses and landlords with annual business or property income above £10,000 will need to follow the rules for MTD for Income Tax from their next accounting period starting on or after 6 April 2023.
Some businesses and agents are...
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https://www.gov.uk/running-a-limited-company
When a company finds it has no directors it is in breach of the Companies Act 2006, which requires a private limited company to have at least one director and a public limited company to have a minimum of two
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Send an enquiry for "buildings insurance quote" to residentsline : using the same "insured cover" as under your current policy.
It has to be for the same "insured cover " in order to compare the cost from a different insurance company .
Don't ask...
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https://boughtbymany.com/news/articl...nsurance-cost/
This website says £163 p.a for insuring a house.
Your premium at £500 for a lat is very high.
What is the insured value of your building ? and number of flats and current cost
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If the company is not trading with outside parties, it is holding the freehold title on behalf of the 3 leaseholders.
When the leaseholder is on both sides of the extension and the transaction is "done at no charge", its treated as "trading with yourself" and there is...
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You should buy a copy of the freehold title from Land Registry Online and check if the freeholder is the same party in 1991 ?
You should check the wording in the lease if any payment is specified in clause for obtaining consent for alteration.
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If the house has 2 separate property titles , then you are buying 2 properties and will be paying extra 3% sdlt on the second property.
You have to discuss with solicitor the sdlt charged on each property or if the property title for 2 bed extension can be cancelled or merged....
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Copied from website by Moneysuperrmarket.com
" How property type affects home insurance costs- People living in flats or apartments pay the highest premiums on average* for combined buildings and contents insurance, at £149.14
- The cheapest premiums on average apply to those living
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Yes.
The gross income = £58K less £16K maintenance expense
= £42K less loan interest 20% x £17K ( £3.4K)
= £38.6K less £12.5K personal allowance
= £26K @ 20% = £5.2K tax.
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