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Author:   Bryan Pickup ,  Wyn Derbyshire
Publisher:   Spiramus Press
Imprint:   Spiramus Press
Dimensions:   Width: 15.70cm , Height: 2.20cm , Length: 22.60cm
Weight:   0.567kg
ISBN:  

9781907444012

ISBN 10:   1907444017
Pages:   384
Publication Date:   15 July 2010
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Out of Print
Availability:   In Print  
Limited stock is available. It will be ordered for you and shipped pending supplier's limited stock.

Table of Contents

INTRODUCTION 1 CHAPTER 1 THE PROPERTY SYSTEM IN ENGLAND AND WALES 5 The big picture 5 The legal framework 5 Some history 6 The Crown Estate 9 Freehold and leasehold 10 Why leasehold rather than freehold? 11 Typical lease terms 14 Leasehold issues 16 Other forms of ownership 24 Land Registration 26 Freehold title issues 31 CHAPTER 2 BEING A TENANT 35 The big picture 35 The legal background 36 Assured Shorthold Tenancies 37 Finding a tenancy 37 The terms 41 Legal responsibilities 42 How to reduce risk 49 Signing on the dotted line 50 The form of tenancy agreement 50 The landlord’s obligations 51 Standard clauses 52 Future contact 52 Tenancy extensions 52 What if there are problems? 52 What to do at the end of the tenancy? 53 CHAPTER 3 BUYING A PROPERTY 55 Buy or rent? 55 Research 58 House price reports 58 The Bank of Mum and Dad 60 What do I want? 62 Finding ‘The One’ 64 Making an offer 74 Buying from new 77 Buying at auction 78 Valuations and surveys 80 The chain 85 Choosing and using a legal adviser 87 The legals 95 Up to exchange of contracts 95 After exchange of contracts 99 Completion day 101 After completion 102 Post transaction review 103 Joint tenants and tenants in common 103 Special schemes for first time buyers 106 ‘Home Buy’ 108 Right to buy 112 ‘Squatters’ rights’ 114 CHAPTER 4 SELLING A PROPERTY 119 The right approach 119 Choosing your timing 119 Stage 1 - Marketing 119 Choosing an agent and setting a price 120 Agency terms 123 Selling at auction 125 Presenting the property 125 Viewings 127 Choosing and instructing a solicitor 130 Instructing your solicitor 131 Stage 2 ‒ Deciding 133 Offers and how to assess them 133 Decision time! 134 Exchanges of property 136 Exclusivity or lock out agreement? 136 Stage 3 – Getting to exchange 137 Managing the process 137 The legals 139 The chain 141 Stage 4 – Getting to completion 142 Stage 5 - The Great Moving Day 143 CHAPTER 5 MORTGAGES, TAXES AND PENSIONS 145 Mortgages – origins and growth 145 The basic mortgage 146 Mortgages and interest rates 147 Payback time 150 Tax 160 Stamp duty 160 Income tax 163 Capital gains 165 Income from commercial property 168 Property and pensions 168 CHAPTER 6 LOOKING AHEAD 173 Introduction 173 Death, debt, defects, dementia, disputes, divorce 173 Death 173 Debt 179 Defects 191 Dementia 198 Disputes 211 Divorce 224 CHAPTER 7 BUY-TO-LET 229 The big picture 229 Why ‘buy-to-let’? 230 Ups and downs 231 2010 onwards 232 The golden rules 233 Where? 234 What property? 234 Buy at the right price for renting 237 Budgeting 239 Finding a tenant 241 Finding an agent 241 What kind of letting? 242 Tenancy agreements 242 The terms of the letting 243 Letting a property ‒ legal requirements 246 Assured tenancies 247 Holiday lettings 247 Letting to students 249 What is an HMO? 251 Managing your ‘buy-to-let’ 252 Managing the tenancy 252 Managing the property 256 CHAPTER 8 INVESTING IN COMMERCIAL PROPERTY 259 The big picture 259 Ups and downs 260 Investment options 260 Health warnings 261 Market risk 262 Property risk 262 Rental risk 263 Product risk 263 Tax risk 264 Characteristics of the UK commercial property market 265 Leases 265 Methods of commercial property investment 266 Direct investment 266 Shares 266 Collective investments 267 REITs - why do they matter? 272 Thumbnail sketches 276 CHAPTER 9 PROPERTY DEVELOPMENT 279 The big picture 279 Guidelines 280 What does ‘buy well’ mean? 280 Adding maximum value 281 Controlling costs 282 Selling well ‒ marketing, presentation and setting 283 Regulatory controls on development 283 Permitted development 285 Class A ‒ extensions and improvements 286 Class B ‒ roof extensions 287 Class C ‒ roof alterations 287 Class D ‒ porches 287 Class E ‒ outbuildings, enclosures, swimming pools and oil and gas containers 288 Class F ‒ hard surfaces 288 Class G ‒ chimneys, flues and soil and vent pipes 288 Class H ‒ microwave antenna 289 Solar panels 289 Making a planning application 289 Penalties for breaching planning controls 291 Requirement for Building Regulations consent 292 What the building control service is for 292 What the building control service is not 293 The Building Regulations 293 Amendments to the BR 2000 294 Applying for Building Regulation approval 295 Local authority building control service 295 Full plans application procedure 295 Building notice procedure 296 Approved inspectors 297 Regularisation certificates 297 Enforcement 298 Enforcement notices 298 Injunctions 298 Prosecution (section 35 and 35A, Building Act 1984) 300 Time limits 300 The future of Building Regulations 301 Green issues and property development 302 The big picture 302 Incentives for Energy Production 305 CHAPTER 10 BUYING ABROAD 307 Deciding what you want 310 Finding what you want 313 Buying it 314 Budget 315 Plan 315 Process 315 Buying from a developer v buying second hand 319 The role of the notary 321 The pain in Spain 323 Raising the money 327 Tax 328 France - sale and leaseback 330 Timeshare and fractional ownership 331 Co-ownership and running costs 333 Spain 335 France 338 Portugal 341 Italy 343 Switzerland 345 (Southern) Cyprus 347 Florida 349 Dubai 351 South Africa 353 AFTERWORD 355 APPENDIX 1: Property in Scotland and Northern Ireland 357 Property in Scotland 357 Buying and selling 357 Renting 358 Property in Northern Ireland 359 APPENDIX 2: Useful websites 361 Finding a tenancy 361 Property search websites 361 First time buyer websites 361 Nationwide firms of agents 361 National and London newspapers websites 362 Auction sale sites 362 ‘Nosy neighbour’ websites 362 Affordable Housing 362 UK Holiday letting 363 Letting property abroad 363 Overseas property search 363 UK solicitors specialising in overseas purchases 363 Guidance on green issues 364 Index

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Author Information

Wyn Derbyshire originally trained as a research chemist, gaining a PhD from the University of Cambridge before qualifying as a lawyer. He has for many years been interested in financial history. He is writing a series of biographies of tycoons for Spiramus Press. Bryan Pickup is a partner at the law firm SJ Berwin and the former Head of the Property Department.

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