Starting out If you can apply to buy your freehold, i.e. enfranchise, as with extending your lease, the most crucial time is before your leases drop below 80 years as at that point, the level of premium paid for the freehold increases and you share any profit with the landlord. In order to start the…
Entering the world of Leasehold Reform can be a daunting and confusing journey. We attempt to explain some of the common terms and valuation factors that are often used when discussing this subject. The Valuation The surveyor’s role is to assess the factors affecting value and obtain knowledge of comparable sales evidence in the area…
What are Qualifying Premises? A self-contained building or part of building. There must be 2 or more qualifying tenants. The total number of flats held by such tenants must not be less than 2/3rds of the total number of flats contained in the premises. What are Excluded Premises? These have parts with non-residential use –…
The Leasehold Reform Act 1967 as amended by the Commonhold and Leasehold Reform Act 2002 enables tenants of houses on long leases to enfranchise (acquire the freehold of) their properties. The valuation of a premium to buy the freehold (enfranchise) a house is more specialised, as are the negotiation of the matters relating to the…
Entering the world of Leasehold Reform can be a daunting and confusing journey. We attempt to explain some of the common terms and valuation factors that are often used when discussing this subject. First things first, Do I Qualify? There are three issues that need to be addressed: Does the building qualify? Does the lease…