Why a boom in leasehold flats – for young and old – is causing concern

Daily Telegraph, 16 January 2016

Our MD,  leasehold expert, Louie Burns, offers some advice to anyone considering a leasehold property in this weekend’s Daily Telegraph.

“Unfortunately, if you work in many of our big cities and can only afford a flat, you will have no option but to buy leasehold.”

If you find yourself saddled with a brute of a landlord, there are steps you can take. Under the Leasehold Reform Act 1993 you have the right to buy out the freeholder via a collective enfranchisement, which allows residents to club together and take over the freehold. Alternatively, you can apply for a “right to manage”.

“The appetite among flat owners for buying out their freehold is enormous, usually because they are unhappy with the services they are getting from the freeholder or his agent, or the charges they are paying.

“I’d always recommend buying your freehold, but it is not an easy process.”

Read the full article here:

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/12099723/Why-a-boom-in-leasehold-flats-for-young-and-old-is-causing-concern.html