Calculating the remaining lease term of a property involves a straightforward mathematical calculation. Here's how you can calculate it: Step 1: Find the Lease Start Date First, you need to know the start date of the lease. This information is usual...
In the realm of property law, leasehold arrangements have been the subject of evolving legislation to balance the rights and interests of both leaseholders and landlords. One crucial piece of this legal puzzle is Section 94 of the Leasehold Reform, Housin...
In the intricate landscape of property law, understanding the nuances of leasehold arrangements is paramount. One key aspect that often comes into play is the determination of a lease. Nestled within the fabric of property legislation is Section 111, a pi...
In the realm of property law, leasehold extensions have gained significant attention as a means to empower leaseholders and provide them with greater control over their living arrangements. One crucial aspect of this process is Section 45 Counter Notice, ...
In the realm of property law, the Leasehold Reform Act of 1967 stands as a pivotal piece of legislation, aiming to redress the balance between landlords and leaseholders. Nestled within this comprehensive act is Section 16, a provision that carries signif...
In the intricate realm of property ownership, the debate surrounding the potential abolition of leasehold arrangements has garnered significant attention. The subject of whether the government will ultimately abolish leaseholds has ignited discussions amo...
The landscape of property ownership in the UK has been undergoing a significant transformation in recent years, largely attributed to the Leasehold Reform Act 2023. Initiated in response to growing concerns about the sale of newly built houses under lease...
Lease extensions and the concept of Marriage Value have been significant topics in the real estate landscape, particularly in leasehold property markets. As we look to the future, various factors and trends are likely to shape the dynamics of lease extens...
When purchasing a property, you will come across two main types of ownership: freehold and leasehold. Understanding the fundamental differences between these forms of homeownership is essential to making an informed decision that aligns with your needs an...
Lease extensions can be intricate affairs, especially when it comes to the concepts of "Marriage Value" and "Marriage Tax." These terms often lead to confusion and misconceptions among leasehold property owners. In this comprehensive blog, we will delve i...
Negotiating a lease extension, particularly when it involves the concept of Marriage Value, can be a complex and challenging process for leasehold property owners. Understanding the dos and don'ts of this crucial negotiation can make a significant differe...
Negotiating a lease extension, particularly when it involves the concept of Marriage Value, can be a complex and challenging process for leasehold property owners. Understanding the dos and don'ts of this crucial negotiation can make a significant differe...
If you're a leasehold property owner considering a lease extension, you might have come across the term "Marriage Value." This critical factor can significantly impact the cost of extending your lease and is essential to understand before entering into ne...
As a leaseholder, you may have heard about the Lease Valuation Tribunal (LVT), which plays a crucial role in resolving leasehold disputes and determining a fair lease valuation. However, understanding its workings and how it can impact your leasehold prop...
Investing in real estate has long been considered a lucrative way to build wealth and generate passive income. One common strategy is to purchase flats and rent them out to tenants. However, the profitability of such investments can vary significantly dep...
Introduction Lease extensions have long been a topic of concern and contention for leasehold homeowners. The complexities and costs associated with extending leases have created challenges and financial burdens. However, there is good news on the horizon...
Introduction Leasehold reform has been a subject of significant discussion and debate in the real estate industry. Unfortunately, along with genuine concerns and valid discussions, various misconceptions and myths have emerged regarding leasehold refor...
Introduction Leasehold reform has been a hot topic in the real estate industry, sparking debates and discussions among homeowners, policymakers, and industry professionals. While leasehold reform aims to bring about positive changes for leasehold homeown...
Leasehold reform can be a complex and confusing topic for homeowners, but it's important to understand the basics and stay up-to-date on the latest developments. This comprehensive guide will provide you with the information you need to navigate leasehold...
Leasehold properties are a popular form of homeownership in the United Kingdom, particularly in urban areas. However, leasehold arrangements come with their own set of complexities, including the need for lease extensions. In recent years, leasehold refor...
Are you considering purchasing a freehold property but unsure of the total costs involved? Look no further! In this comprehensive guide, we will walk you through the essential factors to consider when calculating the total price of acquiring a freehold pr...
Secure Your Property: Unveiling the Possibilities: Shared Ownership and the Freehold Advantage Shared ownership has emerged as a popular and affordable housing option for many individuals, allowing them to step onto the property ladder with a smaller in...
When it comes to extending your lease, choosing the right surveyor can make all the difference. A lease extension surveyor can help you navigate the legal and financial aspects of extending your lease, ensure that you're paying a fair price, and provide g...
Are you a tenant in the UK wondering whether your landlord is required to renew your lease when it expires? The answer is no, but there are certain circumstances where you may have a legal right to request a lease renewal or negotiate the terms of a new l...
Due to the terms of the lease, purchasing and selling a leasehold apartment can be a time-consuming process. When trying to buy one, ground rent exceeding £250, short leases, and flats with a section 20 notice can be quite stressful and slow down the pro...
What does rent in arrears mean? This phrase denotes an overdue rent payment. This may be for a missed payment for the entire month. Rent payment frequency and amount are determined by the tenancy agreement outlined at the start of the tenancy, and being ...
The leaseholders serve the freeholder with the Section 13 Notice under the Leasehold Reform, Housing and Urban Development Act 1993, also known as an Initial Notice, to exercise their collective enfranchisement rights (buying your freehold). This is disti...
Leaseholders have the right to have their lease extended if they meet certain eligibility criteria. This right is outlined in the Leasehold Reform, Housing, and Urban Development Act of 1993, which allows leaseholders to extend their lease for an addition...
We are aware that moving house can be an expensive process. And when the topic of a property survey is brought up, the thought of shelling out yet another expense could be a tough one to take. It feels amazing when your house offer is approved. But after ...
Over the last several years, there has been an increase in demand for affordable housing in the United Kingdom. As a result, some builders are building residences for purchasers on a reduced budget. This is clearly excellent news, but it may come at a ...
According to official UK Government figures, there are over 4 million residential leasehold properties in the UK. Almost all of them are eligible for the legal right to acquire their Freehold under Collective Enfranchisement rules. Many apartment owner...
When landlords or freehold owners desire to carry out qualifying works on their freehold property, legislation must be adhered to ensure that the work is done legally and with the proper notification to the leaseholders. The piece of legislation is kno...
You recently got a letter in the mail from your landlord stating that he is serving a Section 5 Notice and plans to sell the freehold of your building, making you an offer. You know deep down that you should investigate your choices, but where do you begi...
A flat or apartment leaseholder can also own a share of the freehold of their entire building, in addition to a lease on their individual flat. This is referred to as a share of freehold. Because buying the freehold of a flat is not possible on an indi...
Introduction As a landlord, it's essential to understand the distinction between tenancy agreements and short-term rental agreements, as they serve different purposes and offer unique benefits. In this article, we'll explore the definitions, pros, and co...
Many questions may arise while purchasing a leasehold property. The questions that occur most frequently relate to the length of the lease and the service charges applied to buyers wanting to purchase leasehold property. Our experienced chartered surve...
So, you’ve finally found a place you’re comfortable with. The neighborhood is good, no leaking pipes and no creepy noise are coming from the walls at night, and just when you thought it couldn’t get any better than this, it’s already that time of ...
RICS (Royal Institute of Chartered Surveyors) is a global professional organization for property professionals. It sets and monitors standards that members should adopt in their professional work to ensure consistency and a global brand that is recognized...
Is it worth buying the freehold? It is worth buying a freehold of your house if you have a lease on it. When you purchase a property on freehold grounds, you get the ownership of the house, and the land, it is on. When you buy a property as a leas...
Selling a flat with a short lease Selling a property with a short lease can become very problematic as depending upon the length of the lease many lenders will not lend on the property. This leaves you with a very small pool of purchasers. The lower the ...
How to deal with Planning Application Refusal If you're planning to build a project but worried about planning application refusal? Have a glimpse at our alternatives. Concerned regarding how to apply for planning permission for alteration or lease ex...
If you’re looking to buy a house or residential property in England, you must know what stamp duty is and how it works. What is Stamp Duty? Stamp duty is a tax you have to pay when buying a residential estate or land in England or Northern Ireland for...
Making alterations to a residential leasehold property is not always a simple task. Many leases allow the landlord to charge alteration fees from the leaseholders. A Leasehold Valuation Expert will know about what steps should be taken in such cases. ...
Shared Ownership Leasehold and Lease Extensions Are you aware of what is shared ownership in lease extension, how it works? No, then you’re at the right place. Many people have the same confusion about how shared ownership relates to lease extension in...
Investing in a residential leasehold property offers financial stability, but the value of your property can be influenced by the remaining lease term. As the lease drops below 80 years, it becomes crucial to consider extending it to maintain its market v...
What happens when a leasehold ends ? In England, mostly all residential flats are leasehold as well houses are freehold properties. When the leasehold expires, the property reverts to a freehold property, where it is under the ownership of the freeholder...
The process of adding more years onto your lease is called Lease Extension. Due to the complexity of the lease extension valuation and the overall process, it comes with its own issues. Here we will discuss how to avoid the most common issues in Lease Ext...
At some point in time, you must have considered buying the freehold of your property. The house was originally sold to you on a leasehold basis. If you buy your freehold you get more control of your property. You gain more freedom in deciding what you wan...
What is Collective Enfranchisement? Leaseholders will own the freehold of the entire building which is why the term ‘collective’ is used. However, this is a complicated and lengthy process so it is advisable to instruct a Collective Enfranchisement S...
So, you’ve finally found a place you’re comfortable with. The neighborhood is good, no leaking pipes and no creepy noise are coming from the walls at night, and just when you thought it couldn’t get any better than this, you realize that your next r...
Lease extensions are a daunting task even in the best of circumstances with various strict deadlines in terms of notices and counter-notices, agreement to the premium and specific terms and completion of the documentation procedures. Lease extensions made...
If you own a leasehold property in UK and now it is the time to extend that lease, then you should be aware of the factors to be considered while estimating the cost of the lease extension. If you don’t have enough information and need guidance regardin...
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...
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...
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...
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...
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 ...
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...
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...
"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 ...
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...
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...
Lease extensions play a crucial role in maintaining and maximizing the value of leasehold properties. When considering a lease extension, it is essential to understand how the premium is calculated and the concept of marriage value. In this comprehensive ...
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...
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 invest...
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...
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...
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...
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? 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 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...
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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