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...
Whether you manage properties or only rent out one home as a secondary source of income, you're expected to know it all as a landlord. Whatever the situation, there is frequently one area where people are unclear: what distinguishes a lease from a rental ...
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 property is always considered to be safe. If you own a leasehold property, the value of your property can depend on the remaining number of years left on the lease. You should try to extend your lease before it drops below 80 ye...
What happens when the leasehold expires? 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 freeho...
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...
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 ...
The premium is arrived at by using the following parameters: The capitalization rate The deferment rate The relativity The value of the property (either short lease value or long lease value – or preferably both) Ground rents payable th...
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...
leaseholdvaluationsuk@gmail.com
Call us at