Ruling on leasehold relativity is bad news for flat owners
In May the Upper Tribunal (Lands Chamber) handed down its landmark decision on leasehold relativity (Sloane Stanley Estate v. Munday, 2016). In what may turn out to be one of the most significant decisions in the history of leasehold enfranchisement, the Upper Tribunal ruled against a new relativity graph proposed by Parthenia Valuation, which would have reduced the cost of lease extension for flat owners, in the event that their lease drops below 80 years.
Our MD, Louie Burns, said of the decision:
“As a result of the Upper Tribunal’s decision, leaseholders will now be forced to pay even more for their lease extensions – to the tune of many millions of pounds.”
The truth about freeholders’ dirty tricks!
Leasehold Solutions has several thousand live lease extensions or freehold acquisitions in progress at any one time. On a day-to-day basis we work against the biggest and most notorious freeholders in London and, consequently, have an in-depth knowledge of the tricks the various freeholders use to get the most money from each transaction.
We have written the following guide to some of these tricks, together with some advice on how you, the flat owner, might recognise and counter them! Read more here
Why a boom in leasehold flats – for young and old – is causing concern
We are passionate about the rights of leaseholders, and have long been concerned by the increase in number of newbuild properties being sold as leasehold. Louie Burns, discusses the problems and the lack of protection faced by buyers in a The Daily Telegraph.
We discuss the issue of maintenance charges on ITV London News
Louie Burns was recently invited by ITV News to comment on outrageous maintenance charges levied upon the owner of an ex Local Authority leasehold flat in London E6.
At Leasehold Solutions we are passionate about highlighting the rights of leaseholders – including those who have purchased from social landlords (we use the term ‘freeholder’ to avoid confusion) and we were delighted to be given the opportunity to comment on this particular case.
Purchased or thinking of purchasing your leasehold property from the Council, Local Authority or other social landlord?
The Leasehold Roadshow is coming to Croydon! TUESDAY 28 JUNE 2016
Venue: The Croydon Park Hotel
The Leasehold Roadshows are FREE information events for flat owners and offer the opportunity to speak to leasehold experts, valuers and solicitors, and hear informative seminars on subjects including:
– Understanding your lease
– Your legal options
– How to extend your lease and secure the value of your flat
– Buying your freehold
Louie Burns on BBC Radio 4’s ‘You and Yours’ programme
Do you want to know more about non-statutory or ‘informal’ lease extensions?
View our guide to The dangers of accepting informal lease extensions here (For MAC) View our guide to The dangers of accepting informal lease extensions here (For PC)
Louie Burns has recently recorded a video highlighting the dangers of accepting informal lease extensions.
You can watch it here.
Have you been offered an informal? Do you want to discuss it with one of our expert team?
Call Leasehold Solutions on Freephone 0808 1311 109