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The National Federation of ALMOs

The National Federation of ALMOs Ltd (NFA) is the trade body for ALMOs representing 69 members. The NFA represents the interests of its members at national level. In addition to lobbying and negotiating with central government on behalf of its members the NFA runs a site at www.almos.org.uk, which...

Notice to Complete

 Where either party fails to complete on the contractual completion date and it does not appear as if matters can be resolved, the other party’s solicitor or conveyancer may serve a Notice to Complete.  The defaulting party has 10 working days in which to complete. If they do not...

New Build HomeBuy Through New Build HomeBuy

Known previously as 'Shared Ownership' or 'Part Buy Part Rent', New Build HomeBuy, allows buyers to buy a share in a brand new or refurbished home. You usually pay a mortgage on the part you own and a subsidised rent on the part you don’t own. As your income rises you can increase the share...

Nil Rate Band

This is the amount of the estate where there is  no Inheritance Tax to pay. Where the value of the estate exceeds the nil rate band, there will be IHT to pay on that amount of the estate at the rate of 40%....

Notice of invitation to participate

This Notice applies where a Right to Enfranchise (RTE) company would send the initial notice to the landlord setting out the intention to purchase the freehold. Before doing so it would need to send a notice to all qualifying tenants who have not already agreed to become a participating member of...

Notice to Complete

Following exchange of contracts if either the purchaser or vendor in fail to comply with the terms of the contract on the completion date, the party who is ready to complete is entitled to serve ( via their property solicitor ) a Notice to Complete. This Notice will set out the fact the party is...

Notices

Where a 3rd party who has an interest in a particular piece of land or property ( commercial or residential ) that party - often via their conveyancing solicitor - may register a notice against the property’s title register at HMLR. By registering a notice a party who has an interest in the...

Negative equity

Negative equity occurs when your mortgage borrowing exceeds the value of your property. It is a growing worry for many home owners, particularly in recent years when housing prices plummeted across the country. Homeowners who fall into negative equity and are unable to pay their...

New Build

Where a property is being purchased for the first time from a Builder or...