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Clarke & Son Blog​

The new property trap affecting thousands

Simon Pook, Head of Residential Property

– When buying a new home, it is very important to understand the terms of the purchase. In this article, the purchaser bought a brand new home on leasehold, expecting to be able to buy the freehold to the property at a nominal price in a couple of years. Unfortunately it didn’t work out in her favour and as the Law stands, there was very little she could do about it. When buying a property Leasehold, make sure your solicitor furnishes you with all the information about the terms of the lease and your right to buy.

When putting pen to paper to buy a new home, most people expect to know how much they will need to pay to own it outright. But thousands of families in England and Wales are discovering the new-build houses they bought are not all they seemed.

Read more: http://bbc.in/2ktiZFz

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