Our team of Property Valuers are experts and can advise if you are the owner of a leasehold flat or house and wish to extend your lease or buy your freehold. The current legislation may allow you to obtain a 90 year extension to the lease of your flat, or buy the freehold of your house. To qualify, your lease must have been originally granted for a term of more than 21 years and you must have owned the lease for at least two years prior to making your claim.
Call James Wyatt F.R.I.C.S., M.C.S.I. on 020 7908 1110, or email professional@johndwood.co.uk if you want to discuss acquiring your freehold or extending your lease
The benefits of taking advantage of the legislation include:
- Enhanced long-term security of tenure.
- Any uplift in the future value will be to your benefit.
- Improved marketability when you decide to sell the property.
- Extending the lease on your flat means the annual ground rent becomes a peppercorn.
If your lease is approaching 80 years remaining, you should certainly consider extending the lease or buying the freehold (enfranchising) without delay. The cost increases dramatically the moment the lease drops below 80 years remaining, even by a single day.
John D Wood & Co. have been providing advice and assistance to leaseholders for more than 40 years and have a proven track record of extending leases and enfranchising freeholds on all major Central London Estates. We are also highly experienced in dealing with valuations for taxation, loan security, litigation, matrimonial and other purposes. We would be delighted to be able to advise you on the available options.
We work exclusively on behalf of leaseholders and we have one of the most comprehensive database of lease enfranchisement settlements, tribunal decisions and property sales of any firm of agents in London. These records assist us in negotiating very effectively against landlords agents and we have no doubt at all that, should you decide to instruct us, we shall achieve the most advantageous agreement on your behalf.
Our team of Chartered Surveyors in London have written a freely available Guide to Extending your Lease or Buying your Freehold, please click here to download The Guide to Extending your Lease or Buying your Freehold