Our last post discussed how Leaseholders can apply for an extension of their lease, under the Leasehold Reform, Housing and Urban Development Act 1993. Unfortunately, this only applies to eligible Leaseholders (which we also covered in our last blog). To recap, a qualifying Leaseholder needs to: Own a long lease (originally granted for 21 years
A majority of buyers do not understand the implications of lease length when they are choosing to purchase a property. As long as their mortgage lender is happy to proceed with the purchase, it’s common for new owners to simply move in and forget about the remaining term. It’s when the time comes for them
In our last post, we looked at some the pitfalls of buying a leasehold property and why it’s so important to check the terms of your lease. The fact is, finding a property that offers a share of freehold can be tricky, limiting your search criteria in a market that’s already challenging to navigate. Writing
You won’t have to look for a flat in London for long before you realise that leasehold, not freehold, is the norm. Some buyers might not look twice at this important detail, but it can soon land you in hot water if you’re not sure what you’re dealing with. Here are the most important things