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Estate Agents & Chartered Surveyors
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Westburys
120 Streatham Hill London SW2 4RP
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To contact us: |
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020 8674 2626 |
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Leasehold Enfranchisement
The Leasehold Reform and Urban Development Act 1993 (as amended in 2002) gives leaseholders of flats, subject to some qualifying conditions, the right to extend their leases by a further 90 years at no ground rent or, collectively with other leaseholders, to purchase the freehold.
The Enfranchisement Price
The price payable by leaseholders basically is firstly the freeholders loss arising from extending the lease or selling the freehold and secondly, for leases with less than 80 years unexpired, 50% of ‘marriage value’. Marriage value is taken as the increase in value arising from the marrying of the freehold and leasehold interests.
Our Services
We would be pleased to take instructions from both leaseholders and freeholders to provide initial valuations for the price which should be paid for a lease extension or freehold purchase. The valuation is based on experience of relevant residential property market transactions together with an analysis of all recent Leasehold Valuation Tribunal and Lands Tribunal decisions.
Depending on requirements, we would be pleased to take further instructions to subsequently act in negotiations and, if necessary, present a case to the Leasehold Valuation Tribunal.
About us
Roger Armstrong has been in practice as a Chartered Surveyor in London for many years and has gained extensive knowledge in the valuation and sale of residential property presenting his first case to the Leasehold Valuation Tribunal in 1993. He would deal with all valuations and negotiations personally and would be happy to discuss procedure and fees and answer any initial questions if you would care to contact him. |