Blogs

 How to save money on a lease extension?

A lease is a legal document signed by the leaseholder as well as the landlord that allows the leaseholder to occupy the property for a particular time period, as specified in the lease agreement. This document includes certain essential terms and conditio...

How to extend the lease of a flat?

Anyone who owns a leasehold property should bear in mind that the lease should be extended before the length of the lease starts shrinking too low. The length of the lease and the cost to be incurred in extending the lease, are inversely interconnected an...

The Lease Extension Guide, Costs and Procedure

If you already own a leasehold property or planning to buy one, then this leasehold extension guide is for you. It is very crucial for you to gain adequate information about the lease extension process and your legal rights in order to make the informed d...

What is Leasehold Property and why does it Matter?

Most of the people are aware of the terms like renting a property and owning the property, but very few know what a leasehold property is, how to go through the lease extension valuation process, etc. Under  leasehold ownership, you lease (rent) property...

A complete guide to choose an expert to evaluate the value of your leasehold extension

Leasehold extension is a bit of a lengthy and complicated process that includes cost estimation and getting the right expert to take care of every single step engaged in the lease extension process while avoiding every possible pitfall. Therefore, if you...

What is the difference between lease renewal and lease extension?

Most people, who are at the end of their lease term, encounter two words that seem to mean the same - extension or renewal? Many people, including judges and some professionals, confound this term as a lease extension with a lease renewal. Almost all leas...

Leasehold valuation tribunal – Things you should know about LVT

What is the Leasehold valuation tribunal Or LVT? The Leasehold Valuation Tribunal (LVT) has been renamed First-tier Tribunal (Property Chamber) (FTT) and is a statutory court in England that determines different types of landlord and tenant conflicts...

Why Leases Are For a Set Number of Years?

"Freehold Property" and "Leasehold Property" are the two common terms of real estate that you must have encountered while buying any property. The basic meaning of this term, or how the former refers to this Freehold term, is properties that are "free of ...

Why there are two types of ownership in the UK – leasehold and freehold?

You are likely to encounter the terms 'leasehold' and 'freehold' when you buy property in the UK. These are the two main types of ownership of property which are followed in the UK. This terminology can be the difference between a home worth buying and on...

Step by step guide to buying a freehold

Buying a property or buying your own house cafreen be an overwhelming or exciting feeling, but buying a dream house can be an intensely stressful experience as well.  If you've bought a flat the chances are you've been sold a leasehold property. The...

Leasehold vs Freehold – What’s the difference?

You are more likely to encounter the terms 'leasehold' and 'freehold' when you buy your first house or any property. These are the two main types of ownership and before buying a house, you should understand the difference! Here we will look at every way ...

How is the premium calculated?

The premium is arrived at by using the following parameters:The capitalization rate The deferment rate The relativityThe value of the property (either short lease value or long lease value – or preferably both)Ground rents payable th...

What are the various figures that form part of the premium calculation?

In this blog we will be highlighting the figures that form part of the overall premium calculation and explain what each are and how they contribute to the overall level of premium.The main figures that contribute to the level of premium calculation a...

Why does the leaseholder have to pay a premium to the landlord?

The leaseholder has to pay the freeholder (and if applicable the headlessee(s)) something (known as the premium) to compensate them for the loss of their investment.This is better explained as follows:The freeholder purchased the property as an in...

Who are the various people involved in a lease?

There can be a number of parties involved in a lease.At the top of the ladder is the freeholder who ultimately owns, not only the building, but also the site the building is sitting on. He/she will be the person/company who will legally eventually get...

Process Involved In Extending My Lease in UK

This third blog in a series of blogs attempting to explain in layman’s terms the process of extending your lease, whether for a flat or house. Please see our previous blogs in this series and also all other blogs which are intended to help you understa...

How to extend your lease in the UK?

This second blog in a series of blogs attempting to explain in layman’s terms the process of extending your lease, whether for a flat or house. Please see our previous blogs in this series and also all other blogs which are intended to help you understa...

How Lease Extension works in UK?

This is the first of a series of blogs that will try to explain, in layman’s terms, how the process to extend your lease is undertaken for lease extension purposes.We will not cover every single type of lease nor every single possible situation, as ...

What is Leasehold Enfranchisement?

What is Leasehold Enfranchisement? Leasehold enfranchisement is the process you go through to either extend your lease, or purchase a share of the freehold (collective enfranchisement). When you buy a leasehold property, you enter a legal agreement with ...

Reforming valuation in leasehold enfranchisement published by Law Commission

Reforming valuation in leasehold enfranchisement published by Law Commission The Law Commission of England and Wales has [09 January 2020] published a report setting out options to reduce the cost that leaseholders have to pay to buy the freehold or exte...

What you know about Leasehold Valuation Calculator?

One common question we get asked is what is my lease extension cost? how can I know that value? For that we added a tool to our website that allows you to get an idea as to the cost of your lease extension. To use our lease extension calculator simply fil...

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