Case Studies

Valuation of Residential Freehold Portfolio

SHW was instructed by a building society to value a portfolio of 4 residential freehold interests in 13 blocks incorpora ... view case study


Leasehold Enfranchisement

WHAT IS LEASEHOLD ENFRANCHISEMENT?

Leasehold Enfranchisement is the collective term given to the rights of flat or house owners to either extend their lease or buy the freehold of their homes. For a more detailed explanation click here

 

HOW AND WHY DO I NEED TO EXTEND MY LEASE?

Leases are generally granted for 99 or 125 years but as they get shorter, particularly under 80 years, the value of the flat (or house) will start to fall until it can become unmortgageable and difficult to sell. The law sets out the procedure to enable you to extend your lease by adding 90 years to the existing period unexpired. We can help you to understand the process, calculate the premium payable, negotiate with the freeholder or leaseholders and liaise with your solicitor during the process. To find out more about extending your lease click here

 

HOW CAN I BUY THE FREEHOLD OF THE BUILDING?

The law gives leaseholders the right get together to buy the freehold of the building in which their flat is (or their house), subject to various conditions which include the building being self-contained, no more than 25% commercial use and a minimum of 50% participating flats (100% if only 2 flats). We can help you to understand the process, calculate the premium payable, negotiate with the freeholder or leaseholders and liaise with your solicitor during the process. To find out more about buying your freehold click here

 

WHY DO I NEED A PROFESSIONAL SURVEYOR?

The process of extending your lease or buying your freehold involves calculating several sets of values to arrive at the level of premium which should be payable to the freeholder. This is a complex area and a qualified surveyor can help you by:

  • Advising on how the statutory provisions work.
  • Inspecting the property(ies) to assess the relevant information.
  • Providing valuation reports with detailed calculations and supporting evidence.
  • Recommending valuation figures for inclusion in formal notices.
  • Liaising with your legal advisors.
  • Negotiating with the freeholder’s/leaseholder’s valuer.
  • Representing you at a Leasehold Valuation Tribunal if necessary.

 

WHAT SHOULD I DO NEXT?

Whether you are a leaseholder looking to extend your lease or buy your freehold, or a freeholder faced with a leaseholder’s application, we are here to help you through the process and advise you on the best route to saving you money and getting best value. Contact one of our specialist valuers to discuss your situation and how we can help you through the process:

 

Contact our Specialists

For further information on all our Leasehold Enfranchisement services.

Richard Bull
Richard Bull BA (Hons) DipSurv MRICS
Partner 
telephone
01273 876207
mobile
07872 375967


Mark McFadden
Mark McFadden FRICS ACIArb
Partner 
telephone
01323 437903
mobile
07740 449378