Frequently asked questions

A property survey is a detailed physical examination of a property, conducted by a licensed surveyor or engineer, to determine the property’s boundary lines, improvements, easements, encroachments, and other physical characteristics. It involves measuring the dimensions of the property, locating structures, fences, and other features, and mapping them on a survey plan. The survey plan can be used to resolve boundary disputes, plan construction projects, or obtain permits.

On the other hand, a property valuation is an estimation of the value of a property, conducted by a licensed appraiser to determine the fair market value of the property. A property valuation takes into account the location of the property, the condition of the property, the recent sales of comparable properties, and other factors that may affect the value of the property. The valuation report can be used by property owners, buyers, sellers, or lenders to determine the market value of the property for various purposes such as buying, selling, refinancing, or tax assessment.

In summary, a property survey is focused on the physical aspects of a property, while a property valuation is focused on the financial aspects of a property.

Leasehold means that you own the property, but the land upon which the property is built is owned by the freeholder (or landlord). This gives you the right to occupy the property for as long as the lease is valid.

A Homebuyer Report is a type of survey that is usually carried out on a residential property that you are considering purchasing. It is designed to provide you with information about the condition of the property and to identify any issues that may affect its value or require attention in the near future.  The Homebuyer Report is typically carried out by a qualified surveyor who will visit the property and conduct a visual inspection of its structure, condition, and general state of repair. The surveyor will look for any signs of damage, defects, or issues that may need attention and will provide a detailed report on their findings.

A Freehold is the complete ownership of a piece of land and all immovable structures built on it.

If you buy a freehold, you’re responsible for maintaining your property and land, so you’ll need to budget for these costs. Most houses are freehold but some might be leasehold, usually through share-ownership schemes.

A Building Survey (previously known as a full Structural Survey) is a wide-ranging inspection of a property, dealing with hard-to-reach places and structural issues. It is the most comprehensive of the surveys available for residential properties and provides a detailed evaluation of the condition of a property. Although one of the more expensive options of survey available, the level of detail in the final report makes it vital, especially when buying older properties.

A freehold enfranchisement (also known as a collective enfranchisement) is the right for the owners of flats in a building and sometimes part of a building, to join together and buy the freehold of that building or an extended lease of their premises.

A Section 13 Notice must be used by a landlord to notify a tenant of their intention to increase the rent. Under the Housing Act 1988 a Section 13 Notice can be issued by a landlord in order to increase the rent but only after the initial fixed period has expired and cannot be issued during the fixed term of tenancy.

With a leasehold, you own the property and its land for the length of your lease agreement with the freeholder. When the lease ends, ownership returns to the freeholder, unless you can extend the lease. Most flats and maisonettes are owned leasehold.

The Reinstatement Cost (also known as rebuild cost or building sum insured) of your home, is the amount it would cost to completely rebuild the property from scratch if it were totally destroyed, by a fire for example. It is required for building insurance applications and is the amount of money for which your home is insured in case of total loss. It includes costs of clearing the site, materials, labour and professional fees. It is not the same as the value of your home. Reinstatement costs are for an accurate reconstruction of your property whereas market value is simply what the property is worth as a whole finished product.

Market rent value is the amount of money a property would rent or lease for if it was available at a specific time. It is an experts judgement based on knowledge, appraisal, intuition and comparison of the local rental market to discern a fair rental value for a property in the same condition in the same area.

An expert witness report is used to inform a court of law on matters that are outside its expertise. An expert’s opinion is set out in a report as instructed by the court and is used to help reach a decision in order to resolve the dispute before it.  The report is a document prepared by an individual with specialised knowledge and expertise in a particular field who has been retained by one of the parties in a legal dispute. The report is intended to assist the court or tribunal in understanding complex technical, scientific, or other issues relevant to the case.

Expert witness reports can be used in a variety of legal proceedings, such as civil litigation, criminal trials, arbitration, and administrative hearings. The report is often subject to cross-examination by the opposing party, and the expert witness may be called upon to testify in court or at a hearing.

The purpose of an expert witness report is to provide the court or tribunal with an independent and objective opinion based on the expert’s knowledge and expertise. This can be particularly useful in cases where the issues are complex, technical, or scientific in nature and where the court or tribunal may lack the necessary expertise to fully understand the issues at hand.

If your property is a leasehold property, you’ll have to pay an annual charge, known as ground rent, to the person who owns the freehold.

A peppercorn ground rent is just that, very small just like a peppercorn, often in the region of £10 per year & generally fixed for the duration of the lease.

This is the amount of money for which your home is insured in case of total loss. The Reinstatement Cost (also known as rebuild cost or building sum insured) of your home, is the amount it would cost to completely rebuild the property from scratch if it were totally destroyed, by a fire for example. It is required for building insurance applications and it includes, costs of clearing the site, materials, labour and professional fees. Having an accurate reinstatement value is vital to both commercial and residential clients to ensure, in the event of a claim, that they are neither under nor over-insured.

Probate is the process of dealing with the estate of someone who has died – which generally means clearing their debts and distributing their assets in accordance with their will.