Lease Extensions
The Leasehold Reform, Housing and Urban Development Act 1993 gives Leaseholders the right to extend their lease for a further term of 90 years. Part of this process will require that a valuation is required. Our RICS Registered Valuers can provide the valuation required for you and your solicitor for the Section 42 notice.
The Valuation will consider:
- The term remaining on the lease
- The ground rent currently payable
- Whether the freeholder is entitled to Marriage Value
- Tenants Improvement
- Compensation (if any) due to the Freeholder
Our reports give you a best and worst case scenario and explain which inputs can be challenged and how this will affect the final valuation. If you are a landlord and have been served a Section 42 Notice we can assist by providing a Valuation to aid in preparing a counter notice.
Enfranchisement/ Collective Enfranchisement
This is the process in which you can acquire the freehold of your house or share of freehold of a flat. Part of this process will require a valuation to be carried out to appraise the current freehold value.
The Valuation will consider:
- The term remaining on the lease
- The ground rent currently payable
- Whether the freeholder is entitled to Marriage Value
- Tenants Improvement
- Participating and non participating tenants
