Can You Give Full Title Guarantee For Possessory Title For a property with possessory title the seller would not be able to provide a full title guarantee to the buyer, only a limited guarantee, unless the title has been upgraded from possessory to absolute. Purchasing legal indemnity insurance is advisable when buying under limited title. […]
What Is First Charge And Second Charge Loans? First charge loans are loans that are secured as the primary debt against an asset, such as a property. They take priority over any other loans secured against the same asset. First charge loans typically have lower interest rates as they are seen as less risky for […]
Tenanted Property Meaning A tenanted property refers to a property that is occupied by a tenant. This means someone is renting the property and has a lease agreement with the landlord. Some key things about tenanted properties: A tenant pays rent to the property owner to live in or use the property. This could be […]
Can You Buy A Peppercorn Lease? Yes, you can buy a property that is subject to a peppercorn lease. A peppercorn lease refers to a leasehold agreement where the ground rent is nominal or token, often as little as £1-£10 per year, and is not usually collected in practice. This type of lease is common […]
What Are Development Control Regulations? Development control regulations (DCR) refer to the set of rules and regulations that guide urban planning and development in cities and towns. It refers to the the rules and policies that govern land use planning, development permissions, and building controls. The key regulations include: The Physical and Land Use Planning […]
What Does Peppercorn Rent Mean In Kenya? In Kenya, peppercorn rent refers to a nominal or very low rent charged on leasehold land to meet the legal requirements for a valid lease agreement. Though no actual peppercorns are given, it is a token amount charged. Some key points on peppercorn rent in the Kenyan context: […]
Buying A Peppercorn Lease Buying a peppercorn lease” typically refers to acquiring a leasehold property where the ground rent or lease rent is set at a nominal or symbolic amount, often just a peppercorn, which represents a very low, almost negligible rent. These leases are usually very long-term, sometimes for hundreds of years, and are […]
What To Do When A Buyer Pulls Out Of A House When a buyer pulls out of a house sale, it can be a frustrating and stressful experience. Here are some steps to take if a buyer pulls out of a house purchase: Don’t panic. Although frustrating, this situation is common in real estate transactions. […]
Why Is It Called A Peppercorn Rent? A “peppercorn rent” is a term used in real estate to describe a very low, symbolic, or nominal rent or lease payment, often just a small token amount, such as one peppercorn, paid for the use of a property or land. The term “peppercorn” has historical origins and […]
What Is Enhanced Equity Release and Do You Qualify? Enhanced equity release is a type of lifetime mortgage designed for people with health conditions or lifestyle factors that may impact their life expectancy. It allows them to access more equity or get a lower interest rate than standard equity release products. To qualify for enhanced […]