IDENTIFYING & MANAGING RISKS TO A PROPERTY

GOVERNMENT SCHEMES

BUYING AND SELLING A HOME

Fire Safety - The Landlord Responsibilities under the Furniture and Furnishings (Fire) (Safety) Regulations 1988

The Furniture and Furnishings (Fire) (Safety) Regulations 1988 (“the 1988 Act”) sets minimum levels of fire resistance for domestic upholstered furniture. When letting out furnished property the landlord must ensure that all the furnishings provided by them meet the minimum levels under the 1988 Act. The only exemptions to this are landlords who are only letting a temporary basis. The regulations under the 1988 Act (“the Regulations”) will apply only if the letting is for a longer period or is one of a series of let’s and where the property is regarded primarily as a sort of income rather than as a home. The Regulations apply to all persons who supply furniture and furnishings in connection with accommodation in the course of business and in general this will include not only landlords, but also letting agents and managing agents.

SHARED OWNERSHIP PROPERTIES

The Advantages of Shared Ownership

In a market of rapidly rising property prices, a Shared Ownership property may be the only chance for buyers on low to middle incomes may have to get on the property ladder. Originally aimed at those people who worked in key public sector roles such as nurses, teachers, police officers and other public workers (who were unlikely to achieve as high a salary as those working in the private sector) and people who are just starting out in life, Shared Ownership is now often the only choice for those who have incomes which, only 10 years ago would have been considered as being relatively high. The fact that Shared Ownership Schemes are now offered to those with incomes of £60,000 per annum is indicative of just how much house prices are rising and how hard it is for the average person or family to get a foot on the housing ladder.

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