To specify exactly what is included in the sale of property in a short blog is impossible. However, for the purposes of this item, we’ll exclude mineral rights and the legal definition of Freehold and Leasehold interests and look at something more basic!
There is no specific definition of what is included and what is not. Neither is there a definite list of items that are fixtures or fittings. However, it is generally accepted that fixtures (attached substantially to the building like light fittings and fitted wardrobes) are usually defined as fixtures and would normally be sold with the house. Fittings are less permanent (such as carpets and curtains or lampshades) and are usually not included in the sale.
Where disagreements break out over this matter it’s usually because of assumptions and a lack of communication. Therefore, it’s worth both parties making some simple precautions. They are;
The Seller should:
The Buyer should:
It is quite possible a seller will leave things you didn’t expect. If that is a garden shed, you may be happy. If the shed is full of old tires, you may not. Never assume. Always clarify.
Research from buy-to-let lender, Landbay, shows that UK landlords are looking at raising rents ahead of the Renters' Rights Bill which is due to come into force this year.
Data shows landlords could miss out on green mortgages due to expired energy performance certificates.
Buying a house is a big deal, and where you are planning to buy will make a difference financially. In this short blog, we look at the most affordable and most expensive areas and how much you need to be earning to buy in there.
15 days ago
Equity release is a type of mortgage that allows homeowners 55 and over to access money from their property's equity without having to leave their home. This is done by securing a loan against the house which is usually repaid by selling the property when the borrower passes away or has to move into long-term care.
16 days ago
It’s important to ask questions about the property you are interested in before taking that step to make an offer. A little probing can make all the difference between buying your dream house or something that requires a lot of work.
19 days ago
There are millions of homeowners over the age of 60 who are likely to release money from their homes to pay for their lifestyle during retirement giving those who are 'asset rich but cash poor' a way to live out their retirement the way they wish.
26 days ago
The average age of a first-time buyer in the UK is two years older than 10 years ago. This is understandable with managing the cost-of-living and challenges within the economy such as high interest rates making it difficult to get onto the property ladder.
28 days ago
Skipton Building Society launches ‘Delayed Start’ mortgage meaning first time buyers won’t be required to make repayments for the first three months.
According to a survey by Skipton, first time buyers who bought their home in the last five years found that in the first three months of living there, they were spending upwards of £30,000.