A new information leaflet has been published by the Northern Ireland Law Society
08 April, 2011
A new information leaflet has been published by the Northern Ireland Law Society this week which provides practical advice and guidance to those considering purchasing Property in Northern Ireland. The leaflet entitled ‘Buying and Living in an Apartment’ was launched at the Long Gallery in Parliament buildings by Law Society of Northern Ireland on Tuesday 1st March 2011. The Minister of Finance and Personnel, Sammy Wilson MP spoke at the launch event and welcomed the publication. The Society have produced the leaflet in response to the findings of a new Discussion Paper, also published this week by the Law Society into Multi-Unit Developments in Northern Ireland.
Commenting on the publication of the new information leaflet and discussion paper the President of the Law Society, Brian Speers said: “The Law Society is delighted to launch our information leaflet which we believe will go some way to providing those contemplating purchasing an apartment with practical guidance and advice.' It is their hope that the discussion paper will provide the basis on which a wider discussion can be held on an issue which is affecting many owners of Northern Ireland Property.
Multi Unit Developments are apartments or housing blocks which share communal areas and service facilities. These types of Properties in Northern Ireland have significantly increased over the last ten years with the property boom. Welcoming the publication of the discussion paper, Sammy Wilson said: “As an elected representative I am acutely aware of the difficulties many residents of multi-unit developments can face. Those residents have raised concerns about the operation of management companies, a lack of security, failure to insure properties and to maintain communal areas in these developments … People who purchased their properties in the hope of turning those properties into a warm and secure home often face a daily battle to keep that dream on track. Many of these purchasers are first-time buyers who have had to pursue the apartment option because the cost of a house was beyond their reach. “If we are to address the issues, all of the key players must recognise and accept their roles from the developers right through to the purchasers themselves. I congratulate the Law Society on the production of its discussion paper and I look forward to its continued support and assistance as we take this important strand of work forward.”
The paper makes a number of recommendations which the Law Society believes will go some way to protecting the long term interests of property owners and addressing the overriding issues. The Law Society has begun this process by producing an information leaflet which provides practical guidance to those considering purchasing an apartment or flat in a multi unit development. In addition the Society has recently revamped its pre-contract enquiries to include a detailed section on management companies and their operation to ensure purchasers have all the information they need when buying their home
