Whether you're buying, renting or selling, Phil Spencer is here to answer your questions! We've had many people using the #AskPhilMoveiQ hashtag - so here are Phil's responses.

From leaseholds to how to increase property value, we cover a range of topics in this episode.

Q1 - Flat Sale Fallen Through
A user owning a leasehold flat found their sale falling through due to 'future maintenance issues.' While this is an undeniably frustrating situation, surveys are in place to highlight these problems. If the building is being maintained properly and everyone is paying a service charge, there should be a sinking fund to deal with the issues. If not, these problems will likely reoccur.

Q2 - Does Changing a Small Bedroom to a Bathroom Increase Property Value?
An extra bedroom increases house value. But, removing a downstairs bathroom detracts value. So, it's likely it will even out. Ask yourself: what do you want? Also, what are future buyers likely to want? Phil gives his advice on what's marketable when considering how to add value to your home.

Q3 - Should You Buy a Bungalow if the Freeholder is Bankrupt?
Should you steer clear of a bungalow that's 'easily converted to a freehold?' It can be tough to get a mortgage in this situation. You could find the freeholder by using the land registry or exploring if the property has been managed by an external company. You can also take insurance out against absent landlords. There are ways to stay protected!

Need good legal advice? We can put you in touch with solicitors here: [ Ссылка ]

If Phil didn't get round to your question in this episode, stay tuned for more! Make sure to subscribe so you don't miss the next video: [ Ссылка ]

Find all of Phil Spencer's property advice here: [ Ссылка ]

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