If you are losing your home, you rightfully want to ensure that you are well placed to pay off your mortgage and if you choose to, to buy somewhere else.
Councils and other acquiring authorities will often buy houses and flats in phases which often results in short term increased crime and a reluctance from the market to buy homes in that area. When property is bought under compulsory purchase this has to be ignored.
You may therefore be able to sell for considerably more than the market would pay for your house in the compulsory purchase scheme. Estate Agent’s valuations are often therefore very misleading and far from what you could achieve.
With Ardent, you would be represented by compulsory purchase specialists who can negotiate the sale value for you. In addition, we can also negotiate various forms of Compensation which you may also be entitled to.
If you are losing your home, whether you own it or whether you are a tenant, you are likely to be entitled to disturbance compensation.
This is in addition to either Home Loss Compensation or Basic Loss Compensation.
This covers various costs and losses in relation to your move such as-
- Fitting costs for new carpets and compensation for your old
- Connection charges for Sky or Cable TV or your phone line
- Removal costs
- Compensation for items of furniture that won’t fit where you move to
These items are purely an illustration and can vary according to individual circumstances.
When claiming this compensation, Ardent’s fees are normally covered by the Council or other acquiring authority.
If you are losing your investment property to compulsory purchase, it is important to gain compensation for the loss of your investment.
Our understanding of compulsory purchase law allows us to negotiate sale values often far in excess of the amount the same property would sell for if marketed privately with the threat of Compulsory Purchase.
We can also negotiate disturbance compensation to cover the costs of acquiring another investment property.
If you incur void periods without rental income either prior to compulsory purchase or in a replacement property, we may also be able to claim compensation for you.
Compulsory Purchase is our main area of work. Whether you wish to object to a Compulsory Purchase Order, amend it, or simply maximise the compensation you can receive, we recommend that you ask the specialists.
Tel: 0207 038 8111
Fax: 0870 443 9101