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Large UK homebuilders (Persimmon, Barratt, Taylor Wimpey, Bellway and Berkeley) are likely to be disproportionately hit by hefty taxes (80% of the industry levy) for fixing apartment-building safety issues, on top of costs to fix their own legacy projects. Dents to profit and capital returns are likely to ensue, just as the housing market decelerates. Iwona Hovenko, Real Estate Analyst at Bloomberg Intelligence commented: “Multiple levies on UK homebuilders to fix fire-safety issues in tall residential bu

Over 50 potential tenants are chasing every two bedroom property that comes on the market, according to Solihull’s leading independent estate agent. Gabrielle Argue, head of lettings at DM & Co. Homes, said: “Demand is seriously outstripping supply in Solihull, south Birmingham and the north Warwickshire area. “We are seeing huge demand for two bedroom houses and apartments under £1,100 per calendar month. DM & Co. Homes regularly has over 50 potential tenants registering for one particular property as so

In law, a Residents’ Management Company (RMC) is for the most part a limited company like any other. As such, the requirements of company law equally apply, and it will usually be the RMC’s directors who face the immediate responsibility to comply with various company secretarial requirements. These include a need to: File the annual confirmation statement, containing details of share transfers during the year Submit annual accounts (typically dormant company accounts or micro-entity accounts) Process

As the first buyers prepare to move into a unique development in the heart of Birmingham’s Jewellery Quarter, house-hunters can see the stunning properties for themselves at a special open day.  The event at the Heaton House development in Camden Street will be an opportunity to view the impressive townhouse show home, as well as the one and two-bedroom luxury apartments created by Elevate Property Group.   The open day will take place this Saturday, February 11, from 10am until 2pm. Viewings are by appoi

The government has committed to tackling onerous ground rents in residential long leases.  But have the steps taken solved this long-standing problem for leaseholders? As of 30 June 2022, ground rent under new long residential leases (usually granted for a term of 21 years or more) has been abolished by the implementation of the Leasehold Reform (Ground Rent) Act 2022 (“the Act”).   This is a welcome relief for leaseholders of new builds whose leases are caught by the Act.  The legislation means that they

Angmering housebuilder David Wilson Homes is helping to plug the construction skills shortage gap this National Apprenticeship Week (6th-12th February), having recently recruited two new apprentices at its Ecclesden Park development on Water Lane. Fledgling ‘chippies’ Alfie Tanner (17) and Bili Heasman (20) began their Level 2 Carpentry and Joinery apprenticeships with the housebuilder in August 2022. “No two days are the same,” says Alfie, who splits his time between working with the subcontractors at Ec

Since receiving Royal Assent on 28 April 2022, the Building Safety Act 2022 has caused many a head to be scratched. Whilst not fully enforceable until October 2024, there are four provisions in Schedule 8 that have created some of the biggest headaches so far, that all concern service charges. Paragraph 2 (2) No service charge is payable under the lease in respect of a relevant measure relating to a relevant defect if a relevant landlord— (a) is responsible for the relevant defect, or (b) is associated wi

A clear function of the Building Safety Act 2022 (“BSA”), and in particular Schedule 8, is to seek to limit the costs payable by leaseholders, and particularly qualifying leaseholders, in respect of contributing towards the cost of works to remedy “relevant defects”. There are many issues that require clarification by way of further Regulations and Court guidance, but a question that we anticipate arising is; when is service charge not payable due to the BSA? Limitations on recovery There are various limi

If you’re a leaseholder or first-time director, you might feel overwhelmed with the financial obligations a Resident Management Company (RMC) has to keep a development functioning to a high standard. According to government statistics there were 4.6m leasehold properties registered in England in 2018/19 - nearly a fifth (19 per cent) of all housing stock. It’s therefore integral to the housing market that these estates are managed properly, with the correct reserves in place. Enter the reserve and sinking

The Domestic Abuse Housing Alliance (DAHA) programme was launched in 2014 through the ongoing partnership of three agencies: Standing Together Against Domestic Abuse, Peabody, and Gentoo – all leaders in innovative solutions to address domestic abuse within housing.  We recognised that domestic abuse is a housing issue. It is estimated that 2 million people were subjected to domestic abuse in England and Wales. According to the Femicide Census 2020 70% of women the home.  For people experiencing domestic

With the Medium Rise Scheme rolling out in 2023 now is the time to talk to experienced fire remediation experts who offer the full, through-the-line service says Gavin Lacey, CHPK Chief Operating Officer. Homes England announced the pilot of its Medium Rise Scheme in November 2022, a £3 billion fund raised from the Building Safety Levy for fire safety remediation on buildings between 11 and 18 metres in height. The scheme is due to be rolled out across England early in 2023, bringing medium-rise residenti

Increasing demand, limited supplies, a shortage of storage space and the conflict in Ukraine mean high energy prices are still a big concern for businesses across the UK. However, the relatively mild winter so far, and less reliance on Russian gas across Europe has meant that prices have been on the way down recently.  Although wholesale prices are at their lowest levels since May 2022, prices are still nevertheless exceptionally high with a knock-on effect to service charge costs.  Educated Body manages