Here at Knightsbridge Estate Agents, we are passionate about all things property. Our blog is a space where we share valuable insights, expert tips, and the latest property buying, selling, and investing trends.
As experienced estate agents, we understand that navigating the property market can be exciting and overwhelming. Whether you are a first-time buyer, a seasoned investor, or a homeowner looking to sell, our blog is designed to be your trusted resource throughout your property journey.
The financial watchdog is asking whether mortgage rules should be more flexible to help older buyers, the self-employed and reliable renters get on the property ladder. UK society has changed dramatically over the past decade. There have been huge shifts in the way Brits live and work and when they
Over a third of home insurance flood claims occur between June and August, according to insurer Aviva.* Here’s how landlords can prepare for the risk of flooding. Many people associate flooding with the colder seasons, but changing weather patterns mean it’s time to think again. Jason Storah, CEO of UK
If you have ever thought about selling your Leicester home, chances are you have been tempted to push the asking price a little higher than advised. After all, it’s your biggest tax free asset. A few extra thousand on the asking price of your Leicester home sounds like a smart
Listings (New to Market) 36,700 new listings this week (↓ from 37.7k last week) YTD listings are 5% higher than 2024 and 7.6% above the 2017–19 average (930.1k YTD vs 889k in 2024) Price Reductions 26,700 reductions this week (↓ slightly from 26.8k) That’s 1 in 7.1 homes on the market being reduced monthly (14%) For
Is your home taking longer to sell than you’d like? It’s possible that your listing has gone stale. Here are some ideas for reviving a stale property listing. Give your home a lift Chances are that when you first listed your property you kept everything spick and span for viewings.
The world’s most famous tennis championship, Wimbledon, has begun. So let’s take a (slightly tongue-in-cheek) look at the parallels between championship tennis and selling or letting a property. Before you get started, cut the grass And make sure everything else is looking its very best too. Unlike Wimbledon, you don’t
Tech experts have warned that fraudsters are using Artificial Intelligence to create fake documents. Here’s what landlords need to know. The news is currently awash with stories about the marvels of Artificial Intelligence (AI). Unfortunately, however, there is a downside to this technological tsunami – one that will concern landlords.
New rules on preparing Energy Performance Certificates, or EPCs, have just come into operation. Here’s what you need to know about EPCs going forward. What is an EPC? An EPC is an Energy Performance Certificate. EPCs show you how energy efficient a property is using a rating from A (most
Over the past five years, Leicester’s private rental market has experienced a significant growth in rents. The average monthly rent has increased from £802 in 2020 to £1,030 in 2025, representing a 28% rise. These local trends are interesting when compared with the national picture, where the average monthly rent
Listings (New Properties on the Market) 37.6k new listings this week (last week 39.3k) YTD 5% higher than Week 23 of 2024 YTD and 8% higher YTD compared to 2017/18/19. Price Reductions (% of Resi Stock) 27.4k Price Reductions this week (last week 27.9k) Monthly Run Rate in reductions – 1 in 7.1 of Resi
At first glance, that number stands out. More homes. More choice. But that’s only half the story. Although the number of properties for sale locally has doubled since 2022, the number of homes selling has also increased. Nationally, regionally and locally in Leicester, activity is up, prices are fluid, and buyer behaviour
The Bank of England has decided to maintain the current base rate. The Bank of England’s Monetary Policy Committee (MPC) has voted to hold rates. The decision, announced today, means that the base rate will stay at 4.25%. The MPC voted six to three to maintain the current rate. (Three
The Bank of England will announce its latest decision on interest rates later this week. But have you ever wondered who decides what your mortgage interest rate will be? Here we’ll explain how it all works. The Bank Rate vs the mortgage rate The first important thing to know is
Old stereotypes about tenants are going out the window as the number of renters aged over 55 continues to grow. When you think of a ‘typical renter’, what comes to mind? A young professional, a university student – or how about someone in their 50s, 60s or 70s? The latter
When most people decide to put their Leicester home on the market, they assume one thing. That it will sell. After all, why wouldn’t it? You instruct an estate agent, the board goes up, photos appear on the portals and viewings get booked and offers made. Simples! Except it is
If you’re expecting a new baby, then big congrats from us. You certainly have lots to think about, including whether to move home or stay where you are. Here are our tips to help you decide. Do you have enough space? You might need an extra bedroom or two, and
How Many £1 Million Homes Actually Sell? It surprises many people just how few £1 million homes actually sell. Just because a property carries a seven-figure price tag, it does not guarantee a successful move. Nationally, across all property price bands, around 54 percent of homes sell and complete. Yet for homes
Take advantage of the summer weather and get ahead with maintenance on your rental property. Summer isn’t just the perfect time for lazy picnics in the park and trips to the seaside. The long, sunny days also make it an ideal opportunity for landlords to undertake important maintenance and safety
The UK Property Market Update for Week 21 of 2025 Listings (New Properties on the Market) 31.9k new listings this week (last week 41.3k) YTD 5% higher than Week 21 of 2024 YTD and 9% higher YTD compared to 2017/18/19. Price Reductions (% of Resi Stock) 21.5k Price Reductions this week (last week 27.2k) Monthly
We’re really looking forward to taking part in this year’s Clarendon Park Summer Fair! The event runs from 11am to 5pm on Sunday 15th June 2025, and it’s always a brilliant day full of local spirit, great food, independent stalls, and fun for all ages. You’ll find our team at
If you are a Leicester homeowner or landlord and considering selling your Leicester property soon, you may have wondered how long it will take to find a buyer and sell. The time it takes to sell a home varies depending on location, property type, price range, bedrooms, and market conditions.
What’s your semi worth in today’s market? Here’s the latest average value of a semi-detached home in our area: These are just averages—some homes will sell for more, some for less. It all depends on things like plot size, condition, extensions, parking, and school catchments. But it gives you a
When you’re selling your property, material information is one of the many things you need to know about. Here’s an explanation of what material information is and how important new rules will affect you. What is material information in a property sale? Material information is basic information about a house
What do tenants really want in a rental? The answer is surprisingly personal. When tenants feel happy in a rental, they’re more likely to stay put and look after the property. For landlords, this can mean a long-running, trouble-free tenancy (and who doesn’t want that?). So what elevates a rental
The Hidden Crisis Facing the Area’s 50- and 60-Something Renters You’ve heard of retirement. But what about ‘rentirement’? It’s not a typo. It’s a ticking time bomb. There are 6,439 households in Leicester, aged between their early 50s and mid-60s, renting privately, not owning the Leicester homes they live in.
Listings (New Properties on the Market) 41.3k new listings this week (last week 40.6k) YTD 6% higher than Week 20 of 2024 YTD and 9% higher YTD compared to 2017/18/19. Price Reductions (% of Resi Stock) 27.2k Price Reductions this week – Monthly Run Rate in reductions – 1 in 7.5 of Resi
Don’t underestimate how much a beautifully presented garden can sway buyers and help you clinch a great price for your home. When it comes to preparing a home for listing, there’s a lot to do. But in your effort to get the interior of your home ‘just right’, don’t forget
Rentvesting is an arrangement where you rent a home to live in yourself, but buy a property elsewhere and rent it out. Rentvesting has received a lot of attention in Australia, New Zealand and the USA in recent years. Here we’ll look at whether it might work for you. The
It’s been a bumpy ride on the stock market this year. In contrast, property has proved to be a stable, resilient investment option. Two issues have dominated the economic news this year: Trump’s tariffs and stock market volatility. But amid all the chaos, one story has gone somewhat under the
Shared houses or HMOs are often thought of as being a very lucrative type of property investment. Here’s what you must know before investing in an HMO or converting your existing property into one. What is an HMO? An HMO (house in multiple occupation) is a property where the rooms
Are you considering moving home in Leicester over the next 6 to 12 months? You may be a Leicester landlord deciding whether to grow your portfolio or sell off a few properties. Or you’re a Leicester first-time buyer wondering if 2025 is the right time to move. Understanding whether the
Homeowners worried about spray foam insulation in their property will find lots of helpful advice in a new consumer guide. The Property Care Association (PCA) has published a guide for homeowners detailing the practical steps they can take if spray foam is present in their property. As many as 250,000
Landlords who make any of these common mistakes could find their insurer refuses to pay out on claims. Picture this: you’ve been loyally paying your landlord insurance premiums for years without ever making a claim. Then there’s an unfortunate and unforeseen incident at your buy-to-let. Once you’ve dealt with the
Listings (New Properties on the Market) 42.6k new listings this week (last week 32.5k) YTD 6% higher than Week 17 of 2024 YTD and 9% higher YTD compared to 2017/18/19. Price Reductions (% of Resi Stock) 27.2k Price Reductions this week – Monthly Run Rate in reductions – 1 in 7.5 of Resi Sales stock per
Today, the Bank of England (BoE) cut the base interest rate to 4.25%, delivering a boost for borrowers. The quarter-point rate cut is the second of 2025, with more expected to follow later this year. Looking forward Financial forecasters predict interest rates will continue to fall due to several deflationary
As we move into early summer 2025, Leicester’s property market paints a bleak picture—especially for first-time buyers. Headlines scream that getting a foot on the ladder is harder than ever, and for many, that feels painfully true. With the average first-time buyer deposit in 2024 hitting a staggering £61,000, dreams
Should you buy a new build home? Or would an older property suit you better? Here are a few things to bear in mind to help you decide. What’s good about buying a new build? What’s good about buying an older home? New and old homes each have their advantages;
Listings (New Properties on the Market) 32.5k new listings this week (last week 37.5k) YTD 6% higher than Week 16 of 2024 YTD and 9% higher YTD compared to 2017/18/19. Price Reductions (% of Resi Stock) 22.1k Price Reductions this week – Monthly Run Rate in reductions – 1 in 7.5 of Resi
New figures show there are over 401,000 buy-to-let companies* in the UK – more than any other type of business. Let’s look at what landlords need to know about owning their property through a limited company. Reasons to set up a limited company Possible tax savings are the main reason
The private rental sector in Leicester has seen a 44.8% increase in average rents since 2016, according to data compiled by TwentyEA and Denton House Research. That headline statistic is bound to catch a lot of attention. For tenants, it may raise concerns. For Leicester landlords, it is a sense
Whether you have a garden, patio or terrace, these quirky ideas will help transform your outdoor space. Here are three ideas if you want to turn your conventional garden or outdoor area into something out of the ordinary. 1. Create a fun, Tiki-inspired space Tiki culture hails from the South
Flats and apartments make up just over 21% of the UK’s housing stock and while they’re typically more affordable than houses, the price differences across the country are quite stark. Over the last 12 months, average flat prices and volumes of sales have shown significant variation depending on region. Here’s what the
If you’re considering selling your home, you may be wondering whether you should fix it up before it goes on the market. Here are the pros and cons to think about. The pros Rightmove estimates that, on average, a fixer-upper sells for a discount of 12%, suggesting many buyers value
Strict new financial sanctions rules affecting many landlords and tenants apply as of May 2025. Here’s a quick heads-up on the changes. What are the new financial sanctions rules? Financial sanctions rules prevent certain people and organisations from doing business in the UK and enable their assets to be frozen.
Listings (New Properties on the Market) 37.5k new listings this week (last week 41.1k) That’s 8% higher than Week 15 of 2024 YTD and 9% higher YTD compared to 2017/18/19. Price Reductions (% of Resi Stock) 21.2k Price Reductions this week – Monthly Run Rate in reductions – 1 in 7.5 of Resi Sales
Since 2016, private rents in the East Midlands have increased by 44.8%, according to data from TwentyEA and Denton House Research. This figure may come as a surprise to some and no doubt will stir mixed feelings—especially among tenants who’ve seen their monthly outgoings steadily climb. Yet there’s another side to the
In today’s Leicester housing market, property market data isn’t just helpful – it’s essential. For Leicester homeowners and landlords looking to buy or sell a home, understanding the latest Leicester property trends, buyer behaviour, or house pricing movements is the difference between making a confident move and flying blind. Data
We all know humans find moving stressful, but it can make cats and dogs anxious, too. Here are three ways to make relocating easier for your pets. If you’re a pet owner preparing to move house, it’s important to consider the needs of the four-legged members of your family. Cats
A shocking 53.4%* of house fires are caused by electrical hazards, according to a new report from the electrical trade body NICEIC. Here’s what landlords must know about electrical safety in their property. Landlords’ responsibilities for electrical safety Landlords are legally responsible for the safety of the permanent wiring in
There’s positive news for the Leicester housing market, with a noticeable increase in the number of homes going under offer/sale agreed in the first quarter of 2025 compared to the same period in 2024. Across nearly every region of the UK, sales agreed (sold subject to contract) have risen, indicating
As Leicester’s property market shifts and grows, sellers who’ve been on the market a while often face a tricky question: when to tweak the asking price—and by how much—to spark new interest. With the number of homes for sale in Leicester’s LE1 through to LE9 and LE19 postcodes jumping from
A question we’re often asked is: Do I need to have sold my house before I offer on another? The answer is no, but there can be good reasons to do so. Let’s explain. As you might know, selling a home can take time. (No matter how great your estate
Understanding what is really going on in the Leicester property market is key to cutting through the noise and seeing the true picture–both locally and nationally. Despite the near constant doom and gloom headlines predicting a housing crash since September 2022, the statistics tell a very different story. The British
Protect your investment and your health by following these stress-busting property management tips. Being a landlord is a great way to earn income and build equity – but it’s a job that can be challenging sometimes. While most tenancies run without a hitch, issues such as emergency repairs or tenant
These visual maps of Leicester, Oadby & Wigston highlight the varying proportions of homes in different parts of the town that are owned with a mortgage or loan. The darker the shade, the higher the percentage of homeowners in that area still repaying a mortgage. Conversely, the greener areas indicate
If you’re sick of staring at a screen, take up stargazing and see the world from a different perspective. Every major civilisation has looked to the night skies for inspiration and information. The Romans believed the stars and planets were the gateway to the Gods. The Mayans used astronomy to
For many parents, proximity to an outstanding school tops their property wish list. Here’s what you need to know before relocating for a school place. The desire to live in the catchment area of a good school is nothing new. Ten years ago, one in four families moved or changed
If you’re a landlord and you’re thinking of selling your rental, then it could potentially lead to a big tax bill. Here’s what you need to know. What tax do you pay when selling a buy-to-let? Capital Gains Tax (CGT) is a tax charged on the gain you make when
Ensure young children are safe and secure in your home by following these simple measures. Young children can be curious and unpredictable, which is why you can never be too careful when it comes to safety around the home. This is why the Royal Society for the Prevention of
It might surprise you to learn that between 1 in 16 and 1 in 10 pensioners across the UK now privately rent their home from a buy-to-let landlord. That’s right—not from the council or a housing association, but from the private rental sector. This isn’t just a London or city-based
What’s happening in the housing market, and what’s on the horizon for the rest of 2025? Let’s look at the latest property news. Base rate decision The Bank of England’s Monetary Policy Committee took a steady-as-she-goes approach to interest rates when it met last month. The committee held the base
Redecorating your rental helps protect your investment and keeps your tenants on side. Here, we’ll look at how often you should refresh your buy-to-let. The law on rental redecoration There are no specific rules on how often you must redecorate a rental property. The law says that a rental property
Chancellor Rachel Reeves has just made her Spring Statement in Parliament. Here we’ll look at what it might mean for the property market. The Spring Statement, also known as the Spring Budget, isn’t meant to be a Budget. That happens in the autumn. The idea is for the Chancellor to
It’s often said that artificial intelligence or AI is the future and will change how we do everything. So can AI help you find a home to buy or assist you in selling one? Let’s find out. What is AI? AI is technology that enables computers to simulate human intelligence.
Ensure everything stays rosy with your tenants by following these simple garden maintenance strategies. A garden can be a real drawcard at a rental property, helping to attract and keep good quality tenants. But garden maintenance can be a thorny subject and consistently ranks among the top five causes of
Whether you have a cosy courtyard or a spacious garden, here are three ways to spruce up your outdoor space this spring. With the arrival of spring, now’s the time to get your garden ready for the joys of alfresco living. By making a few carefully considered changes, your outdoor
The Bank of England (BoE) has opted to hold its base interest rate at 4.5% in today’s announcement, a move that will influence the property market in Leicester over the coming months. The base rate has a direct impact on mortgage costs, affecting homebuyers, sellers, and investors alike. While
Don’t sabotage your property sale with poor quality marketing photos. Follow these steps to ensure buyers browsing the web see your home at its best. A whopping 98% of buyers kickstart their home search by scrolling through property portals. So when marketing your home, it’s important to think carefully about
New Home Office figures show there were 5,000 reported cases of rental fraud last year, alongside losses of £9 million. Here’s how tenants and landlords can protect themselves. With new figures revealing the scale of rental fraud in the UK, the Home Office has provided an insight into how scammers
Make the most of the start of spring by trying a new outdoor activity. As we wave goodbye to winter and welcome in spring (which officially starts next week), now’s the time to get out into the great outdoors. Here are three fun, healthy activities to try as the days
How can sellers minimise the risk of their property sale falling through? Here are some tips for keeping your sale on track. What exactly is a fall-through? A fall-through is a situation where typically a buyer has agreed to buy your home but pulls out before the sale becomes final.
Buy-to-let investors can tighten their belts and improve their bottom line in many ways. Landlords searching for inspiration need look no further than Apple founder Steve Jobs, who famously said, “Details matter.” That’s because the key to success as a landlord is keeping a firm eye on all the details.
Yippee, spring is just around the corner. That means now is the time to get planning and planting for a great garden this summer. Here are three planting ideas that will add a splash of colour and attract wildlife to your garden this year. All these ideas work just as
Get ready, Oadby—Knightsbridge Estate Agents are diving in! On Sunday, 6th April, we’re making a splash at the Oadby Rotary Club’s 9th Annual Swimarathon at Parklands Leisure Centre, and we couldn’t be more excited. Why are we taking the plunge? Well, this isn’t just any swim—it’s a fantastic community fundraiser
Spring is a great time to put your property on the market. If you’re thinking of selling this spring, now is the time to start planning. Here are some practical things you can do this week. Jobs to do outside Jobs to do in the garden Gardens get neglected over
A rise in the number of landlords taking out buy-to-let mortgages shows that the market fundamentals in the lettings sector remain strong. As Chief Commercial Officer of buy-to-let lender Fleet Mortgages, Steve Cox is a numbers man. And after crunching the data released so far this year, he’s given his
You don’t have to spend thousands of pounds to give your kitchen a lift. Whether you’re a landlord, homeowner or home seller, there are lots of ways to give your kitchen a refresh without spending a fortune. Here are some ideas on how to upgrade your kitchen for less than
New plans to speed up the conveyancing process have been announced. Let’s look at what they involve and if they will deliver. We live in a digital age where banking and investing online are the norm. But it’s a very different story in the world of conveyancing (the legal process
There’s something truly special about Random Acts of Kindness Day—a reminder that even the smallest gestures can make someone’s day a little brighter. So, on Monday, 17th February, we set our admin dream team loose on a mission. Armed with 60 bunches of daffodils, Sarah, Tammy, and Kaitelin hit the
Most tenancies run smoothly. But when a tenancy goes wrong, it can go very wrong. Conducting a regular property check is one way to head off problems. Why should you inspect your rental? An inspection of your rental is an opportunity to check its condition. You can see how your
There are certain milestones in your life when you should consider making a will or updating your existing one – and buying a home is one of them. Why you should make a will Making a will is the best way of ensuring that your home and other assets go
New rules on dealing with mould and damp in private rental properties are on the horizon. Here’s what landlords need to know. The UK is a (generally) cold and wet country with the oldest housing stock in Europe. So, it’s no surprise that problems such as damp and mould can
Making someone feel special on Valentine’s Day doesn’t have to cost the earth. Here are ways to make an impression without breaking the bank. Show someone you care this Valentine’s Day without paying through the nose for flowers or a meal out. Here are some ideas for romantics on a
Buying a property that was previously a rental can be well worth considering. Here’s what you need to know. Firstly, why buy an ex-rental property? An ex-rental can be an attractive property proposition for many reasons. Let’s take a look at them. Chain free Buying an ex-rental can be a
Landlords need to know about an important government rule change that quietly came into force late last year. Landlords have been warned to keep a close eye out for any new regulations introduced by their local council. The advice comes after new rules making it easier for local councils to
As this month is Frugal February, now’s the time to take charge of your finances. Here are three tips to help you save and prosper. 1. If it’s a takeaway – walk away Steer clear of anything that’s a takeaway – whether it’s a coffee, sandwich or full meal. You
Congratulations – you’ve had an offer on your future new home accepted. But don’t rush out to buy curtains just yet. Here’s some important information about what happens next. First, the sale agreement is drawn up The seller’s estate agent will probably draw up a sale agreement – sometimes known
How can you encourage tenants to settle long-term in your rental? A report compiled by consumer psychologists claims to have the answers. A report on the psychology of buying and renting includes some helpful advice for landlords. The Bricks to Belonging report* was compiled by the psychological and behavioural science
Cryptocurrencies are said to be the currencies of the future. Here we’ll ask can you (and should you) buy or sell property using crypto? What is a cryptocurrency? Cryptocurrencies have been around for years. However, with President Trump pledging to make the US the ‘crypto capital of the planet’, we
Getting the rent right is a must for all landlords. Here we’ll look at how to assess if the time is right to raise the rent on your investment property. So let’s deal with the question: Should you raise your rent in 2025? We believe all landlords should review the
Severe weather seems to be on the rise, and right now, we’re bang in the middle of winter storm season. Here are three tips to help protect your home and keep you and your family safe. 1. Stock up on the basics While no one wants to be a panic
With rising labour and materials costs, is it now more cost-effective to move rather than renovate? There’s one question that millions of homeowners have asked themselves over the years: should I move or improve? While both options have pros and cons, the broad consensus has generally been that it’s cheaper
Letting yields are the lifeblood of successful property investing. Here we’ll look at why it’s so important to understand yields. What is meant by letting yield? Yield is a simple way of calculating the financial return you can make on a buy-to-let. Knowing what yield a property offers can help
The Renters’ Rights Bill has just passed its latest stage in the House of Commons. Here, we’ll look at what happened and at what it could mean for landlords, tenants and anyone considering selling their rental property investments. Renters’ Rights – what’s happened so far The Labour Government unveiled the
📅 Next Monday (January 20th), Donald Trump will be inaugurated as U.S. President for the second time.❤️ Love him or loathe him, here’s how his presidency could impact the UK housing sector: 💷 Borrowing:Trump’s economic policies may influence global markets and UK mortgage rates.📈 Market turbulence or inflation could lead
Here are some tips for landlords on managing tenant energy bills. 𝗖𝗹𝗮𝗿𝗶𝗳𝘆 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝗶𝗲𝘀 Ensure your tenancy agreement clearly states who is responsible for energy bills; it’s typically the tenant. 𝗠𝗮𝗶𝗻𝘁𝗮𝗶𝗻 𝗮𝗻𝗱 𝗗𝗿𝗮𝘂𝗴𝗵𝘁-𝗣𝗿𝗼𝗼𝗳 Assist tenants in keeping costs down by repairing draughty windows, adding insulation and switching to energy-saving light bulbs.
How Leicester holidaymakers can bag themselves a great deal 🌍 If you’re considering booking a getaway, here are some tips to help your travel budget stretch further. Avoid famous destinations 🌴Holiday hotspots can be crowded and expensive, so visit a less well-known location with similar attractions. Shop around 💼Remember that
🏡 Are you thinking of upsizing in 2025? Knowing what type of upsizer you are is the first step to finding the perfect new home. 🛋️ 𝗦𝗽𝗮𝗰𝗲 𝗰𝗵𝗮𝘀𝗲𝗿The need for space is the number one reason for upsizing. 👶 Maybe you have growing children, 🖥️ want a home office, or
As the winter chill sets in ❄️, the Warm Hubs initiative is here to help keep you cosy and connected! 🧣✨ These friendly community spaces, run by local charities and volunteers, provide a warm environment, free refreshments ☕, and engaging activities 🎲—a lifeline for anyone struggling this season. Here are
𝐇𝐨𝐰 𝐋𝐞𝐢𝐜𝐞𝐬𝐭𝐞𝐫 𝐋𝐚𝐧𝐝𝐥𝐨𝐫𝐝𝐬 𝐂𝐚𝐧 𝐆𝐞𝐭 𝐭𝐡𝐞 𝐁𝐞𝐬𝐭 𝐎𝐮𝐭 𝐨𝐟 𝐉𝐨𝐢𝐧𝐭 𝐓𝐞𝐧𝐚𝐧𝐜𝐢𝐞𝐬 Many landlords will find themselves managing joint tenancies. Here are some tips on how to get the best out of them. 𝗘𝘅𝗽𝗲𝗰𝘁𝗮𝘁𝗶𝗼𝗻𝘀 Remind your tenants that they have ‘joint and several liability’. This means if one person fails to