Forbes Blog

Grab yourself a Bargain Property at Auction

We have all heard the stories of how people attend a property auction and bought a property for an unbelievably low price. The process can prove exciting and potentially profitable; however it is essential that you proceed with caution!

Once you have identified a property that you are interested in, contact the Auctioneers and arrange a viewing so that you understand what you are buying. It is essential to inspect the building yourself before the auction in case the catalogue forgot to mention the motorway flyover outside the top windows.  As and when buying any property, it is advised that you make more than one viewing as you need to be aware of every facet of the property if you are considering bidding.  Properties that fall under the hammer are often ‘sold as seen’ and with you warranting that you are buying the property subject to any defects.  If it is an older property and needs a lot of work, it is worth investing in a structural survey to check for hidden problems, however it would be prudent to remember that time really is of the essence, so you have to act fast. Read more

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Watch out for Flying Freeholds!

Flying Freeholds often rear their heads at the most inopportune moments; they are most commonly discovered when purchasing a property or part of a property. This is obviously never a good time to discover any issues, let alone ones that can impact upon the use and viability of the property. Read more

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Termination of a Lease: Before the Expiry of an Existing Lease

There are various ways in which a lease can be brought to an end. The appropriate method to use will vary dependent upon whether the lease term has passed. We will consider the different options available prior to the expiry of the existing lease in turn below.

Is there a break clause?

It may be possible to terminate the lease before the end of a fixed period, this option would only be available if the lease contains what is known as a break clause. A break clause may come in different forms, such as a rolling break which means that a lease can be terminated at any time. The lease may be terminated after a specified date or the lease may be terminated on an agreed fixed date. It is important to know which type of break clause is within the lease to ensure sufficient notice is given to the landlord. Read more

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Late payment of commercial debts: your legal rights

The late payment of invoices is one of the biggest problems businesses face according to BACS. In a 2017 study, the bank automated clearance scheme found that SMEs were collectively facing £14.2bn in late payments and commercial bad debts. While late payments from a customer can be difficult to control, the law is on your side. Here are your legal rights regarding the late payment of invoices. Read more

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The Government’s Proposals On Leasehold Reform

Over recent years there has been a vast increase in the number of leasehold properties being registered at the Land Registry. The number of leasehold properties in England and Wales has almost doubled between 1996 and 2015.

Leasehold properties can seem appealing on the surface, often being marketed at reduced prices in comparison to freehold properties, however many purchasers are unaware that these properties can attract significant ground rents payments, landlord consent fees and/or lease extension fees, making them costly in the long-run.

In an effort to crack down on any unfair practices and make housing more affordable, the Government has issued a consultation paper with a view to creating transparency and fairness in the housing market. The Government has commenced an 8 week consultation period to consider views on the following: Read more

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How to prevent late paying invoices

Customers paying late is one of the biggest issues for the UK’s SMEs. According to insurance company Zurich, the total ‘late payment debt’ for both large and small businesses in the UK now stands at £44.6 billion.

It can be hard to avoid late payment, but there are some procedures you can implement to help you minimise your risk. Read more

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Preparing for GDPR

Preparing for GDPR

The General Data Protection Regulation (GDPR) due to enter into force on 25 May 2018 is set to bring in a number of changes to the current data protection regime as set out in the Data Protection Act 1998 (DPA). The Government has confirmed that the GDPR will apply and in its latest statement of intent, the Department for Digital, Culture, Media & Sport has said a Data Protection Bill will be introduced. With stricter rules, no grace period available for compliance and with substantially higher fines, organisations should start preparing now. Read more

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The decade long campaign for normal births has been dropped by midwives

The review made by the midwifery standard body will seek to replace the word ‘normal birth’ with ‘physiological birth’. The connotations of ‘normal birth’ have long been associated with birth without medical interventions such as caesareans, epidurals and instrumental delivery.   Delivery by these means can lead to guilt and a feeling of failure for many women. There has been acknowledgement from Cathy Warwick, Chief Executive of the Royal College of Midwives that “what we do not want to do is in anyway contribute to any sense that a woman has failed because she has not had a normal birth. Unfortunately that seems to be how some women feel”.  Read more

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In defence of Lasting Powers of Attorney

Last week, a retired senior Court of Protection Judge, Denzil Lush commented that Lasting Powers of Attorney (LPAs) leave vulnerable elderly people open to financial abuse. Read more

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The Standard Commercial Property Conditions (third edition)

The Standard Commercial Property Conditions (SCPC) are a set of conditions to be incorporated into a contract for sale or grant of a lease of commercial property. Most conditions that are needed in a contract are similar and the SCPC are a set of conditions that have been drafted by an independent body to try to standardise things. The intention is that the conditions strike a fair balance between a seller and buyer. Read more

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