Houses With Short Leases

houses-with-short-leases

Houses With Short Leases

The law and the valuation process that relates to leasehold houses is very different from leasehold flats. A different formula is used for the valuation process and the enfranchisement process is different.

In order for you to find out whether or not you qualify to either extend your lease of purchase the freehold of your building you can visit the relevant section at the following site. The site will show you whether or not you qualify to buy the freehold and the statutory basis is for the valuation.

Lease Extensions Houses

Unlike the process for a lease extension on a flat it is not easy to carry out your own DIY valuation. If you look around the internet you will find leasehold extension calculators but the same can’t be said for leasehold houses. There is nowhere near as much literature for lessees to look at so the chances are that you will need to get employ a professional to help you. The enclosed link may help you get started or at least point you in the right direction.

Leasehold Reform Act 1967

The Leasehold Reform Act 1967 gives leaseholders of houses the right to buy their freehold subject to the qualification of those tenants. It provides the framework for the valuation to acquire the freehold.

It is not possible to give any guidance on the process here because the 1967 act has been amended over the years and professional help must be sought. It is also important to find out how much the whole process will cost you as you will be responsible for the costs of the freeholder and his legal fees.or An Offer