Under the Leasehold Reform Act and its various amendments, leaseholders of residential property have a right to re-negotiate the terms of their interest, i.e. to extend their leases in the case of individual flats, or acquire the freehold interest in their property, either collectively in the case of flat blocks, or individually in the case of houses.
We work with both leaseholders and landowners to:
- Identify the ability to enfranchise;
- Assess the freehold acquisition price / lease extension premium for flats;or
- Assess the modern ground rent payable during the 50 year lease extension period for houses;
- Assist solicitors in the preparation of formal Notices during the enfranchisement process;
- Negotiate final terms for the lease extension/enfranchisement to proceed; and
- In cases where agreement cannot be met, refer the matter to the Residential Property Tribunal and appear as expert witnesses.