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Over Housing System

Sell My House Quickly in Liverpool

Sell My House Quickly found another interesting article about properties in Liverpool. Merseyside homeowners warned over housing system changes. The new rules would affect around 182,000 homeowners.

Merseyside homeowners have been issued a warning over potential changes to the leasehold housing system.

Plans unveiled to reform the system would affect up to 182,000 homeowners in Merseyside, with the changes receiving a cautious welcome by legal expert Adkirk Law.

Leasehold properties mean homeowners only own their property for a fixed period of time.

If you have a leasehold property then you’ll have a legal agreement with the landlord, sometimes known as the freeholder, called a lease which states how many years you’ll own the property for.

Over Housing SystemOwnership of the property returns to the landlord when the lease comes to an end. If you own the freehold, it means you own the building and the land it stands on outright, in perpetuity.

Now, the cost of extending residential property leases or purchasing the freehold of property – to be brought before Parliament this year – could save some homeowners up to £9,000.

The move comes following Adkirk Law’s support for the National Leasehold Campaign, which has been lobbying the Government for leasehold changes over the last four years.

Linda Kirk, director of conveyancing at Adkirk Law which serves the region, said: “As the region with one of the largest number of leasehold properties in the UK, this is a welcome step.”

But this doesn’t mean leasehold homeowners are out of the woods.

“However, the devil is in the detail here and we need to see how this will be rolled out. We will need to see if this is fit for purpose across the different types of leasehold and that it works for those who have been so badly affected across the region.

We found this article about ‘Stunning’ Liverpool terrace with a surprisingly modern interior on Liverpool Echo. Kindly click the link to read the full story.

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