Lucy Barber quoted in the Daily Mail on estate rent charges
Head of Residential Property, Lucy Barber, was quoted in the Daily Mail article entitled "The freehold house we have fallen in love with is on a managed estate: What are 'estate rent charges' and is our 'freehold' compromised?".
In her comments, Lucy advises clients on the best course of action when faced with estate rent charges, beginning with seeking expert advice on the matter.
She explains that estate rent charges are commonly registered to ensure property owners observe their positive obligation in relation to their property ownership, such as an obligation to contribute towards the maintenance and repair of communal areas.
Lucy reminds buyers that failure to settle estate rent charges within 40 days can lead to property repossession. She also warns readers that this factor often discourages lenders from lending on such properties.
Read the full article here.