Leases & Freeholds
The Leasehold Reform Act covers issues commonly referred to as ‘purchasing the freehold’ or ‘extending a lease’. Most people will buy the freehold interest in a house, whereas with leasehold flats and maisonettes, they extend the lease. The tightening of mortgage lending criteria means that most lenders will not accept a property as suitable security against a loan unless the freehold interest has been bought, or the lease extended if there is an unexpired term of 70 years or less.
We are proud to be one of the leading firms in the West Midlands for handling Leasehold Reform Act matters and can act for both freeholder and leaseholder clients, ranging from private individuals to national companies with property portfolios across the country. Get in touch to discuss how we can assist you.
We offer acquisition and disposal help with leasehold issues on a fixed fee basis which includes an inspection of the property, a valuation and in most circumstances all subsequent negotiations with the other party. In most cases agreement is reached between the parties, but sometimes a person’s right to buy their freehold interest, or to extend their lease, requires a Formal Notice which we can assist with the preparation and service of. In cases of dispute we can prepare evidence and present a case at the First-tier Tribunal – formerly the Leasehold Valuation Tribunal (LVT) – if it becomes necessary.
We can also offer groups of leaseholders within a flat or maisonette development help with purchasing the freehold interest in their block, known as a Collective Enfranchisement.
For more information regarding any of the above, please request a call back using the form on the right hand side.