Leaseholders Win The Battle, But Not The War
publication date: Nov 23, 2006
The recent decision by the Lands Tribunal (known as the Sportelli Decision) has adjusted the cost for leaseholders of buying a 90-year lease extension or the freehold interest in their property. The Tribunal decided a deferment rate of 4.75% should be applied to houses and 5% to flats irrespective of their location. The background to this was the ‘Arbib Decision’ published by the Lands Tribunal in September 2005, which devalued leasehold properties through the reduction of deferment rates to 4.5% for a prime London house and 4.75% for a flat.
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