The Business Exchange Swindon & Wiltshire Edition 46: Dec/Jan 2019 | Page 42
10 Minutes with... Roshni Patel
Roshni is a Property Solicitor at the Swindon
branch of Bower Bailey Solicitors.
Roshni joined the residential team in September 2017.
Since qualifying in April 2017, Roshni has specialised in residential conveyancing.
We caught up with Roshni to get her property tips and find out how the Swindon residential
property market has faired in 2019 and what it looks like as we move into 2020.
In your experience, what type
of property was most sold in
Swindon in 2019?
We are fortunate enough to have many
different types of properties in Swindon,
depending on what part of the area you
are looking in. I have personally dealt with
many terraced houses and flat sales and
purchases.
Are there any trends in what
people are looking for locally?
I would say that there is a trend to buy a
property close to amenities such as a local
supermarket or a local pub. There is also
a demand for properties with a parking
space, drive and garden.
Can you help me solve a pub
debate? Is it better to own a
Freehold or Leasehold property?
[email protected]
01793 610466
@BowerBailey
Freehold and Leasehold properties are
traditionally the two main forms of legal
ownership and buyers should understand
the difference of them both before
purchasing a property. The key features of
both are as follows:
Freehold: There is no annual ground rent
or maintenance charges to pay in most
cases. The land and property belongs
solely to the registered land owner. You
do not generally need any other persons
consent to carry out building works except
for the usual local authority consents.
Leasehold: This is the method of owning
a property for a fixed term but not the land
on which it stands. Usually there will be
ground rent and service charges payable.
Landlords consent will be required for
works that you may wish to carry out to
the property.
There has always been a debate on
whether freehold properties are better
than leaseholds. Unfortunately there is
no correct answer to this question as
it wholly depends on the buyer’s needs
and requirements. Luckily we have an
excellent conveyancing department with
many experienced members of staff
who have in-depth knowledge of all
the different forms of home ownership
so should a client have any queries or
concerns with the tenure of property that
they are purchasing, our department is
always ready to provide excellent advice.
Are there any potential problems
buyers should be looking out for
with Freeholds and Leaseholds?
Buyers of Leasehold properties should
be aware of the term of the lease and the
annual ground rent and service charges.
I would also advise them first to ensure
that the lease is not a doubling ground
rent review, as such rent review clauses
can reach extremely high levels by the
end of the term of the lease. Most lenders
are also refusing to lend against such
properties and trying to vary the term can
also be problematic and costly.
With Freehold properties, buyers usually
have the perception that there will be
no annual charges to pay like leasehold
properties however with newer properties
on recently developed estates, there has
been an increase in properties with annual
rent charges/estate charges which buyers
should be cautious about if they have a strict
monthly budget as that will also need to be
accounted for.
What challenges does the market
face as we move into 2020?
There’s no doubt that the housing market
has seen its ups and downs and with the
current economic climate there is this
perception of uncertainty. We are fortunate
however that the housing market is one area
that will continue to keep moving despite
the current situation. With prices continuing
to grow in most parts of the country, the
market is still active. There will always be
a demand whether the purchaser is an
investor, first time buyer or generally just
people wishing to downsize or up!
Do you watch any of the many
popular property programmes
on TV?
My ultimate favourite daytime TV show
is Homes under the Hammer which I
absolutely love. It is great to see how
much properties are sold at auction for,
the transformations undertaken and
the cost of the same. It’s a great show
for anyone trying to get into property
investment as there are useful tips to
catch and make notes of.
Local expert legal advice for you,
your business and your family
• Accident and Injury
Compensation
• Divorce and Children Matters
• Employment issues
• Commercial Property
• Company and Commercial
• House Sales, Purchases,
Mortgages
• Consumer and Civil Disputes • Wills and Estates
42 Bower&Bailey_TBE_Swindon_59x210mm_Ad_v3.indd
www.tbeswindonandwilts.co.uk
1
Cambridge House,
4 College Court, Regent Circus,
Swindon, Wiltshire SN1 1PJ
T: 01793 610466
F: 01793 511505
www.bowerandbailey.co.uk
06/11/2015 08:23