Reading Estate Agent

The government recently passed a law to reform leasehold and freehold in England and Wales. It aims to make it easier to extend a lease, buy the freehold and take over the management of the building. There will also be greater transparency over service charges with a standardised format for the bill.

The plan to remove ground rent for current leaseholders or cap it at £250 was not included.

You can read more about this at the link below:

Leasehold reforms become law The Leasehold and Freehold Reform Act has become law today.

The Bank of England has said it will maintain interest rates at 5.25% for now. This could give mortgage lenders the confidence to offer more competitive rates very soon.

It also released its inflation report in which it said it expected inflation to drop quickly in the next six months before rising again later this year.

This will be good news for people who have been thinking of selling their property, but have been waiting for the current situation to improve. If this is you, please call us on 0118 958 4242 for a free, no-obligation valuation.

For more information, please take a look at the link below:
https://www.bbc.co.uk/news/live/business-68164004 #:~:text=The%20UK's%20official%20interest%20rate,the%20highest%20for%2015%20years.