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Simplifying Leaseholds: New Property Law Legislation Makes Owning Easier in 2024

Property Law (2024 Update)

Remember that sinking feeling of finally finding your dream home, only to be blindsided by the labyrinthine world of property law? Fear not, intrepid homeowners and aspiring tenants! 2024 is bringing some welcome sunshine to the property scene, with a host of changes shaking up the legal landscape. As managing partner of Barnes Law, Yulia Barnes has expertly outlined what to expect in a recent article featured in Estate Agent Today. So, grab your cuppa, settle in, and get ready as we share how to navigate the new property law landscape with confidence, armed with these key insights!

1. No More Leasehold Limbo: Owning Your Slice of Britain Forever (Kind of)

Say goodbye to the shackles of short leases and hello to an extended reign! The Leasehold and Freehold Reform Bill is about to make owning your freehold a breeze. Forget those 90-year leases – standard extensions are soaring to a whopping 990 years, practically putting eternity on the table. And as for that pesky ground rent? Poof! It’s vanishing like a magician’s trick, leaving you with a mortgage-free slice of paradise.

2. Furry Friends, Rejoice!

Cuddly companions no longer need to plead for permission to share your abode – pet-friendly clauses are becoming a mandatory part of the rental equation.

3. Digital Deeds Done Right: Say Hello to Faster, Smoother Property Exchanges

Signing mountains of paperwork? So 2023! The Immediate Exchange Protocol is here to usher in the age of digital deeds. Imagine contracts zipping through the ether, exchanged in mere moments with the tap of a finger. No more snail mail delays or frantic document chasing. Just efficient, secure transactions, putting more time in your pocket and less stress on your hair.

4. Leasehold Charges? Not on Our Watch! Time to Clamp Down on Unfair Fees

Remember those surprise service charges that felt like an extra rent bill in disguise? The Leasehold and Freehold Reform Bill is putting them on thin ice. Unreasonable charges will face the legal equivalent of a cold shoulder, and challenging them in court? Easier than ever. Your wallet can finally breathe a sigh of relief.

5. A New Era for Homeownership

Thinking of buying a leasehold house? Think again! The new bill is waving goodbye to these outdated shackles, so the future is freehold. Flats, however, still fall under the leasehold umbrella, for now.

Navigating the New Frontier with Rickman Properties

As we embrace the transformative changes in the property law landscape for 2024, Rickman Properties stands as your beacon of expertise and reliability. As an independent and well-established firm of property consultants since 2001, we specialise in Residential Sales, Lettings, individual professional Property Management, Refurbishment, and Acquisitions across Prime Central London. 

Why Choose Rickman Properties?

  • Proven Experience: With over two decades of experience, Rickman Properties has been a trusted partner for countless property owners and tenants. Our track record speaks volumes about our commitment to excellence and client satisfaction.
  • Complete Property Service: We offer a comprehensive suite of services, including Residential Sales, Lettings, Property Management, Refurbishment, and Acquisitions. Whatever your property needs, we have the expertise to guide you.
  • Professional and Proactive Team: Our team of professional, fully trained, and proactive individuals dedicated to delivering unparalleled service. We prioritise efficiency, ensuring your property journey is seamless and successful.
  • Prime Location Specialists: Focused on prime areas in London, we have an in-depth understanding of the local property market. Whether you’re buying, selling, letting, or seeking property management, we bring valuable insights to the table.

Explore Our Portfolio

Visit our website to explore a portfolio of our services and discover properties currently sold, let, and available. From market appraisals to joining our mailing list, or simply getting instant updates on new properties, Rickman Properties offers a range of resources tailored to your needs.

Can’t find your dream home? Fear not! While our curated selection offers a taste of the remarkable properties in The Royal Borough of Kensington and Chelsea, it represents just a fraction of what we have to offer. With exclusive access to over 600 agents’ properties, our expert team acts as your key to hidden gems and unseen possibilities. Simply share your vision, and we’ll curate a personalised selection that exceeds your expectations.

Your Partner in Property Success

In a rapidly evolving property landscape, having a knowledgeable and reliable partner is essential. Rickman Properties is here to guide you through the new frontier, armed with expertise, dedication, and a commitment to your property goals. Contact us today to embark on a journey where your property aspirations become a reality.