Purchase Freehold Property in the Southeast of United Kingdom
In the Commonhold and Leasehold Reform Act 2002 and the Leasehold Reform Act (as amended) 1993, the residency test has been abolished, which means that a leaseholder now only needs to have owned the flat for 2 years before he or she can apply for a lease extension or buy a freehold.
A leaseholder has the right to buy the freehold of a house if the house is owned on a lease.
They do not need to live there to qualify. In addition, if they wish to sell their flat, they can also sell on their rights under Section 42 of the 1993 Act, so the new purchaser does not have to wait 2 years to qualify.
In order to exercise either right, a prescribed formal notice must be served on the freeholder and any intermediate landlords. The freeholder then needs to serve a counter notice within strict time scales or must either extend the lease or sell the freehold at the premium stated in the leaseholder’s notice.
However, before the notice is served, a valuation must be completed so that a premium can be entered in the notice. This valuation is known as the leasehold valuation.
Leasehold Valuations help numerous groups of leaseholders buy their freeholds.
Leaseholders generally decide to purchase their freehold for two reasons:
- If they are unhappy with the way the freeholder has been managing the property.
- If they wish to add value to their property.
What are freehold properties?
Is it worth to buy freehold Property ?
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How will Leasehold Valuations assist you in purchasing your freehold?
Leasehold Valuations is a reputable company. We offer insightful advice when appraising freehold and leasehold properties in the UK. Our major goal is to support you in acquiring your ideal residence in the UK. We have chartered specialists who can assist you in every manner in order to purchase your freehold house.
- Leasehold Valuations help you, check and report on the legal title.
- In the collective enfranchisement application process, we can assist you with value guidance.
- First-hand information on whether your building is eligible for collective enfranchisement
- Sending any value-related issue to the First Tier Tribunal when necessary (Property Chamber)
Before this can be achieved, you will need to have a professional valuation done and get some legal advice. Most freeholders are unwilling to relinquish their freeholds, and so the process becomes protracted. There are a number of qualifying criteria that you will need to meet before you can enfranchise, which the correct professionals can assist you with.
Our valuation team will make sure you receive the correct advice, avoid unnecessary delays and costs, and manage the entire valuation process for you from start to finish so that you are able to buy the freehold for as little as possible.
Client’s Case Studies
I had the pleasure of using Jatinder’s services to carry out a lease extension valuation on a recent purchase of a leasehold flat with 52 years unexpired. Jatinder was prompt with his communication and produced a thorough report laying out the details of expected premium to pay. I found using him an enjoyable experience and would recommend to others.Read more
Venkata Sudeep Pounzula
Jatinder has been very efficient,meticulous and professional at all stages of the process.He was comprehensive and explained to me the Pros and Cons of the options available very clearly.This helped me make my decisions in an area where I had zero knowledge. His advice was with my interest at heart. I would highly recommend him for his negotition skills, knowledge of the lease extensions process and commitment to the customerRead more
I was Recommended to Jatinder at Leaseholders Valuations and have found them to be efficient, prompt and helpful - would definitely recommend.Read more
Jatinder helped us immensely throughout the whole process and answered all the questions we had in a lot of detail. He is very knowledgeable, and I couldn’t recommend the service enough.Read more
Jatinder at Leasehold Valuations, was extremely helpful when I spoke to him regarding my freehold purchase. I will definitely be using his services again in the future.Read more
Break The Noise Records
Thank you Leasehold Valuations for the your great help and understanding my freehold purchase queries.Read more
Fantastic service from Jatinder, leases can be difficult and Leasehold valuations helped us through and gave us guidance to make sure we reached the best deal for the extension.Read more
Delightful experience working with Jatinder. He made the whole procedure uncomplicated. He communicated everything back to us quickly and was helpful with any questions we had. Thank you for your help with our lease extension you helped the process go smoothly.Read more
I used Jatinder for an EPC survey and was very impressed with the speed and efficiency of getting the appointment booked and then receiving the report. I wouldn't hesitate to use him again or to recommend him.Read more
I have used Jatinder of Leasehold Valuations for 2 lease extensions and a communal enfranchisement claim. His prices were reasonable, he responded quickly and efficiently and he always explains things clearly. His terms are clearly laid out and he is very knowledgeable indeed. My only regret is that I had not found him earlier!Read more
As a leaseholder of several buy-to-let flats, I've now used Jatinder for several lease extensions and have found him to be excellent value - both in successfully negotiating a reduced Premium and his attention to detail. I would use again.Read more
eCare Infoway LLP
I used LeaseholdValuations.com to extend the lease on my flat which only had 59 years remaining. I had spoken to some other lease extension specialists previously but found LeaseholdValuations.com more friendly and much more helpful. They were very patient and helped me throughout each stage of the process. On top of this they saved me over £15,000 from what the freeholder was asking. I would certainly use them again and will be recommending them to my friends and family. Well doneRead more
Purchasing freehold property is safe enough as long as you work with competent solicitors and surveyors who are acquainted with the local legal system. When it comes to honesty, ethics, and providing homes for UK citizens, Leasehold
Valuations come first.
Both leasehold and freehold offer advantages and disadvantages, but which is better for you will depend on your needs, resources, and long-term objectives.
Compared to leasehold ownership, freehold ownership offers more certainty regarding ownership, more flexibility when selling the property, and easier access to mortgage loans. If finances are limited, leasehold ownership makes sense; otherwise, freehold ownership is always preferable.
Leasehold land is less expensive than freehold land. With freehold land, bank loans and repayments are simpler. You might have to put down a larger down payment for land if the land is freehold. Compared to leasehold property, freehold land has greater capital growth.
Valuation surveyors estimate that having a freehold increases a flat’s worth by 1 percent of its overall value when compared to a comparable asset. The rise in value of the property, however, isn’t always a compelling argument.
Helpful blogs for Freehold
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