A leasehold expert has warned that a million Londoners could face exploitation at the hands of freeholders and ground rent investors. The stark warning comes ahead of a free event this July to provide advice and support to leaseholders affected by the nationwide leasehold scandal.
Of London’s 3.5 million householders, an estimated third – and over 90% of new-build properties – are owned on a leasehold basis. Leaseholders own their home for a limited period, after which they must pay the freeholder for a lease extension or risk losing their property for nothing when the lease expires.
Louie Burns, Managing Director of the Leasehold Group of Companies, will host the free-to-attend roadshow, which takes place at the DoubleTree by Hilton Hotel London - Victoria, 2 Bridge Place on Wednesday 10 July between 1pm and 6pm.
Louie said: “Thousands of leaseholders across the Capital face huge bills to extend their leases, on top of the financial burden of paying ground rents and service charges.
“There are many abusive practices carried out by greedy freeholders to exploit leaseholders. Across London we’ve seen instances of informal deals being offered to leaseholders, which offer them no legal protection whatsoever, as well as onerous ground rents, unfair service charges and freeholders charging leaseholders for permission to make alterations to their homes.
“We’re bringing the Leasehold Roadshow to London to provide leaseholders with free, honest and impartial advice to help them extend their lease or buy their freehold without getting ripped off by their freeholders.
“Our Roadshow will help leaseholders to consider their options and choose the best course of action according to their situation, whether that’s to extend their lease or buy their freehold and take back control of their own financial destiny.”
The event will feature informative seminars and one-to-one meetings with project management, legal and valuation experts, to give leaseholders the chance to discuss specific issues and gain free advice from qualified and experienced leasehold lawyers and surveyors.
Places are limited and must be booked in advance.
For more information or to book a place at this FREE event visit www.theleaseholdroadshow.co.uk