Leaseholder Deeds of Certificate were introduced on 20th July 2022 by the Building Safety (Leasehold Protections) (Information etc) Regulations 2022 and act as evidence that a flat is a qualifying property for the purposes of the Building Safety Act 2022 (‘the Act’). Leases that qualify under the Act are afforded additional protections against issues such as cladding related inherent defects, costs of remediating fire risks and limited protection from the costs of remediating safety defects.

To be a qualifying lease, the flat must be in a building that is over 5 storeys high or taller than 11 metres and, on 14th February 2022:

A Deed of Certificate can be served by a Tenant on a Landlord voluntarily at any time to assert the Tenant’s right to the protections afforded by the Act.

If a Tenant receives notice from their Landlord that they require a Deed of Certificate, the Tenant must complete the Deed by the date stated on the notice in order to benefit from the protections.

A Landlord must serve notice on a tenant when they are notified that the tenant is selling the property or that there is a ‘relevant defect’ in the property.

The Deed of Certificate will remain valid even if the property is later sold so copies of the Deed should be kept. If you are buying a flat which is a qualifying property, your solicitor should request a copy of the Leaseholder Deed of Certificate as well as the Landlord’s Deed of Certificate to ensure that you are afforded the extra protections under the Act.

Further information on Leaseholder Deeds of Certificates can be found here.

If you are unsure whether your flat qualifies for additional protection, you can check on the Government’s checker

If you are buying or selling a residential property and need further advice and assistance, please contact our Residential Property Team or email info@franklins-sols.co.uk

 

 

Following the opening of our Central Milton Keynes office in 1983 Franklins Solicitors LLP were directly involved with the new concept of Shared Ownership and as a result are experienced in dealing with both New Build and Re-Sale Shared Ownership purchases and sales as well as staircasing (explained below).

Shared Ownership is sometimes referred to as “part-rent part-buy”.

You effectively purchase a share of the property and pay rent on the rest.  Generally, the share purchased is between 25% and 75% but in some circumstances it can be as low as 10%.

Under the Scheme a buyer only pays a mortgage on their share of the property.  The remaining portion belongs to the Housing Association, and you would pay rent on that part.

After purchasing a Shared Ownership property, you may have the option to increase the percentage you own (this is known as staircasing) which would in turn reduce the rent payable to the Housing Association for the shares then owned as opposed to rented.  Most Leases also allow you to staircase all of the remaining shares owned by the Housing Association so that you would then own the property outright.

Shared Ownership is not limited to first time buyers.

There is detailed criteria for being eligible for a Shared Ownership property and the same does vary between Housing Associations

Franklins have lawyers who are specialised in dealing with both New Build and Shared Ownership properties and would be delighted to offer their expertise to you.

For further advice and assistance please contact our Residential Property team on 01604 828282 / 01908 660966 or email info@franklins-sols.co.uk

 

We’re delighted to welcome aboard Sharon Grist and Graham Lovelock to the Residential Property Department at Franklins, Milton Keynes. Both Sharon and Graham bring with them a wealth of experience in conveyancing and we’re excited to strengthen the team with their expertise.

Lee Holmes, Partner, Residential Property said:

‘It goes without saying that the residential conveyancing market has seen unprecedented levels of demand since the original lockdown in March 2020.  Following an initial period of inactivity, the Stamp Duty holiday was announced in June and BOOM, the market skyrocketed! These exceptional levels of activity continued right through to September 2021 when the holiday finally ended.

Once the Stamp Duty Holiday finished, everyone in the industry thought things would be ‘back to normal.’ However, the unprecedented demands continued into the New Year. These testing times have taken their toll on many and there have been a lot of staff changes in the market place. There have been some really good people deciding to change employer or leave the industry altogether.

This pressure has caused a whole sea change in people’s expectations and the ability to recruit. Franklins have not escaped this and it has had its toll on our remaining employees who have dug deep and remained loyal, for that we are truly grateful and thank them from the bottom of our hearts for their continued efforts!

On a positive note, Sharon and Graham have joined our team and will strive to deliver the first-class service that our clients have come to expect.’

Sharon Grist  is a very experienced property lawyer and will head up one of our teams with a view to not only growing the division, but continuing the reputation Franklins’ has gained over the past 40 years as one of the leading law firms in the residential conveyancing market.

Graham also has a wealth of conveyancing experience, having been a former Partner at a local firm in Leighton Buzzard for many years. Graham will also head up one of our residential teams and brings with him over 30 years of residential property experience including dealing with lease extensions for both landlords and tenants.

Speaking about the new appointments, Lee continued:

“I am so pleased that Sharon and Graham have decided to join us. Between them they bring over 50 years of experience and that, coupled with our current Senior Residential Management team, means Franklins has a wealth of over 180 years’ conveyancing experience, making us one of the most experienced firms in the industry. I am really looking forward to working with them and I know they will be great assets to the firm.”

You can contact our Residential Property department on 01908  660966 (Milton Keynes) or 01604 848282 (Northampton) You can also find out more about our Residential Property services here.

Calling all future first time buyers and their parents– the deadline for opening an Help to Buy ISA is 30th November 2019. If you do not open your ISA before this date then you will not be able to take advantage of the government bonus of 25%!

Help to Buy ISA’s are designed to help you save for the deposit on your first home. Once the ISA is opened you can save up to £200 per month. The minimum amount you need is £1,600 and the Government will then top up any contributions by 25% up to a savings limit of £12,000. You can therefore claim anything from £400 to £3,000, depending on the amount you’ve managed to save. That’s not just per property, it is per person, so if two of you buy and you are both first time buyers then you can claim up to an additional £6,000.

Rules apply you must:

For more information see: https://www.helptobuy.gov.uk/help-to-buy-isa/who-is-eligible/

Additionally, in order to claim the government bonus you need to use a solicitor registered under the Help to Buy Scheme, which Franklins Solicitors are. 

Don’t risk losing out, act now!

For assistance on buying your first home or for more information and guidance on Help To Buy, please contact our Conveyancing team on 01908 660966 / 01604 828282 or email info@franklins-sols.co.uk