New notice periods: Introduced 1st of September

notice Tenants may now be provided with 6 months notice period. If you are a buy to let landlord you may need to give your tenants 6 months notice. Prior to seeking possession through the courts in most cases, including  section 21 evictions and rent arrears under six months, you will likely need to give 6 months notice period to your tenants to help ensure renters are protected throughout the winter... Carry on Reading

Periodic Tenancy

Periodic Tenancy: Agreement Signed A period tenancy is a tenancy agreement which runs through on a periodic term such as weekly or monthly. A periodic tenancy is a tenancy that extends from one month to the next, or less often, from one week to the next. Periodic tenancies can run on a quarterly basis or even a yearly basis, but normally, most periodic tenancy’s run a monthly basis. When dealing with short term agreements, this... Carry on Reading

Lease Option Agreement

A lease option agreement is a contract which gives the tenant an option purchase the property at the end of their rental period. The landlord will let the property to the tenant who as an option to purchase the property after an agreed time has passed. The option can be used with both residential and commercial lets. The tenant and landlord make a legal agreement, where the tenant has the option... Carry on Reading

Shared Ownership Mortgage

Shared ownership mortgages help buyers who can't secure the full mortgage. If you want to get a property but can only secure part of the mortgage, a shared ownership mortage might help. In this situation you would get the amount of the home you do get a mortgage on and pay rent on the remaining percent. You can buy the remaining percent at a later point when you are able to secure a larger... Carry on Reading

Mortgage in Principle

A mortgage in principle is commonly a certificate that basically says how much money a lender likes to borrow to buy a home. If you are willing to make a proposal about a property, a mortgage will basically show that you are serious and able to buy. A fundamental agreement, also known as a "decision in principle," is a "mortgage obligation" or "fundamental mortgage... Carry on Reading

Shop for Sale

A shop for sale isn't always the first thing to think of when investing in a property or real estate. There is a wide range of outlets, from street shops and country shops to department stores and supermarkets. And they are an important part of the UK's global commercial real estate industry. It is an industry that can be full of long hours and lots of difficult work. You’re going to... Carry on Reading