The Coronavirus Act 2020- The Cat and mouse for Retailers and Rent Payments
Sherrards Solicitors | Property Law
by Michael Lewis
2y ago
The Coronavirus Act 2020 came into force on 26 March 2020 to provide protection to many aspects of society. One such group are retail tenants on the High Street. Michael Lewis explores the latest position. One of the key features of the Coronavirus Act (“the Act”) legislation, in relation to landlords and tenants are a moratorium on wind ups, bailiffs and forfeiture. As a recap, forfeiture is when a landlord takes back possession of the premises. Provided there is a forfeiture provision in the lease, a landlord does not need a court order and can simply change the locks. The Coronavirus Act pr ..read more
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British National Overseas (BNO Visa)
Sherrards Solicitors | Property Law
by Laurel Zhang
3y ago
If you’re from Hong Kong and are a British national (overseas) you and your family members can apply for a British National (Overseas) visa. This is known as a BNO visa. It allows you to live, work and study in the UK. In order to qualify your permanent home must be: in Hong Kong, if you’re applying from outside the UK. in the UK, Channel Islands, Isle of Man or Hong Kong if you’re applying in the UK. You can apply to stay for either 2 years and 6 months or 5 year. You will be able to extend your visa if you want to stay longer. You can apply to extend your visa as many times as you wan ..read more
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Landlords or Retailers? Nobody’s a winner. Mike Lewis in ‘The Retailer’.
Sherrards Solicitors | Property Law
by Michael Lewis
3y ago
It’s no surprise the COVID-19 pandemic has had a significant impact on retailers and the sector as a whole. As many retailers were forced to close during both lockdowns, they have been unable to keep up with their rental payments, and as customers continue to self-isolate and stay at home footfall has been significantly lower. On the flip side, landlords have struggled too with some not receiving payments from tenants, and the loss of protection following the implementation of the Coronavirus Act 2020 (the CA 2020) means they are unable to rely on contractual rights to forfeit commercial lease ..read more
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Landlords or Retailers? Nobody’s a winner
Sherrards Solicitors | Property Law
by Michael Lewis
3y ago
It’s no surprise the COVID-19 pandemic has had a significant impact on the retail sector. As many retailers were forced to close during both lockdowns, they have been unable to keep up with their rental payments, and as customers continue to self-isolate and stay at home footfall has been significantly lower. On the flip side, landlords have struggled too with some not receiving payments from tenants, and the loss of protection following the implementation of the Coronavirus Act 2020 (the CA 2020) means they are unable to rely on contractual rights to forfeit commercial leases by peaceable ent ..read more
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Lenders reopen for business
Sherrards Solicitors | Property Law
by Amy Brunt
3y ago
When the coronavirus lockdown was announced, several banks and building societies pulled mortgage deals or only offered loans to those with large deposits to move away from riskier lending. Just last week Nationwide, Halifax, Virgin and Santander lifted restrictions to make it easier for people to qualify for a loan. Nationwide stopped offering deals above 75% loan-to-value (LTV) to new customers at the end of March and has now resumed loans at 85% LTV. Halifax raised its LTV level from 80% to 85%. Essentially this means a minimum deposit of 15% – 20% is needed. Virgin Money began offering pu ..read more
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Communication is key
Sherrards Solicitors | Property Law
by Isabel Wolfe Barry
3y ago
COMMUNICATION IS KEY: “assumptions are the termites of relationships” (Henry Winkler) “the single biggest problem in communication is the illusion that it has taken place” (George Bernard Shaw)   Click to download a PDF version of this article. COMMERCIAL PROPERTY – LANDLORD AND TENANT RELATIONSHIPS “Get out of Jail Free” Card? Most leases allow little leeway in terms of opportunities to avoid payment of rent or compliance with other obligations. Extreme measures? Does your lease contain a break option which can be exercised? If yes and you’re sure you want to exercise it (you cannot rev ..read more
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Buying a house during the Coronavirus pandemic
Sherrards Solicitors | Property Law
by Caroline Vernon
3y ago
To download a PDF version of this article, click here or on the image above.   The outbreak of coronavirus (COVID-19) poses significant issues for the residential property market. Selling properties and moving home, like all areas of life, have been made more challenging by the pandemic. The Government has advised to urge parties involved in home moving to adapt and be flexible to alter their usual procedures in response to the crisis.   Completion Delays Where parties have already committed to a completion date falling within the social distancing period to a property which is curr ..read more
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What does Coronavirus mean for landlords and tenants?
Sherrards Solicitors | Property Law
by Stephanie Kierans
3y ago
To read this article about the Coronavirus impact on landlords and tenants as a PDF, please click here.     As a consequence of the COVID-19 outbreak we are all now living in unprecedented times. Shops selling non-essential goods have been forced to close.  People have been instructed to stay at home.  So what does this mean for landlords and tenants?   THE LAW, WHAT YOU’VE HEARD AND WHAT YOUR LEASE SAYS   Force Majeure Tenants may think that where they are prevented from occupying the property as a result of an event beyond their control, they would ..read more
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Tenancy Deposit – No such thing as too much information
Sherrards Solicitors | Property Law
by Caroline Vernon
3y ago
Residential landlords must, where there are Assured Shorthold Tenancies (lettings to individuals with an annual rent of less than £100,000), hold the deposit in a statutory tenancy deposit protection scheme.  This applies to all new deposits held or ASTs entered into on or after 6 April 2007. There are two types of schemes: a custodial or an insurance based scheme.  A landlord must within 14 days of receipt of the tenant’s deposit comply with the requirements of the scheme and provide the prescribed information directly to the tenant. Where the landlord does not comply, the tenant ma ..read more
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Buying Real Estate in the UK
Sherrards Solicitors | Property Law
by Caroline Vernon
3y ago
The UK Residential Real Estate system is unique.  It offers transparency, a secure way of holding an asset and clear rules on ownership.  Although it may seem complicated to an overseas investor it provides a structured way of ownership and allows for the relative ease of trading in properties. The first stage for an investor or owner occupier will be ascertain the area to invest in and ultimately locate the property to purchase. When viewing properties in the UK, you should be aware of the legal way in which you are able to hold a property.  You will either obtain the freehold ..read more
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