Leasehold Enfranchisement
Who can benefit?
If you have a leasehold flat in a property owned building then you may have the right to extend the lease or buy the freehold.
Why should I extend my lease?
- A leasehold interest exists for a fixed term. The value of a flat usually reduces as the lease length shortens whilst the cost of agreeing a new lease rises.
- Mortgage lenders often require a minimum length on the lease. Short leases can cause problems on resale.
What are the advantages of sharing freehold ownership?
- Participating owners have the freedom to agree to extend or alter their leases as they see fit e.g. no more ground rent.
- Management and maintenance costs can be controlled by the residents who pay the bills.
How do I find out if I am eligible?
We can advise you on all aspects of your eligibility and the financial implications involved. Please contact us for more information and a free initial consultancy.
