Government Launches Leasehold Consultation
Leasehold Valuations; security of tenure; extended lease. The Government has published a leasehold consultation paper concerning an increase to property value limits.
Thursday, 14th July 2011 Read more
Your essential guide to buying your freehold or extending your lease.
Your essential guide to buying your freehold or extending your lease. Independent industry practitioners offer some advice in our comprehensive pull out and keep supplement about the enfranchisement process.
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Commonhold has never rllaey taken off in this country and some commentators suggest that this is due to a feeling that “if it ain’t broke don’t fix it” as everyone understood leasehold ( perhaps a bit of a joke in itself!) and as a system generally it worked. In any event if you had a leasehold structure with the freehold owned by a third party unless they would voluntarily agree to the formation and transfer to commonhold you would need to enfranchise and then convert to commonhold. This would be a hugely expensive process.As far as we can tell only 17 commonhold developments had been registered as at April this year comprising of about 150 units. It is believed that some developments of mixed use schemes are still looking at Commonhold but there is no real or perceived appetite from Buyers. Part of the problem is that currently very few professionals know anything about such developments and this of itself may put off developers.
Thanks Martin.The plbroem is that no politician could do their job if they followed a strict interpretation of your theory. It's not just about new issues, it's a matter of the depth and detail of decisions they have to make, and the extent to which they are responding to somebody else's agenda rather than their own.Our PSS would have to be truly enormous, and our conferences a week long every few months, to deal with the kinds of issues I raise in my original post.The question is how you provide the right framework in the PSS, e.g. to make clear that the party sees social housing as a priority and minimum standards for homes an absolute requirement irrespective of their impact on other budgets.
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This download comprises a commentary and a precedent for a demand for ground rent pursuant to s.166 of the Commonhold and Leasehold Reform Act 2002. Produced in association with the barristers at Tanfield Chambers.
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In this download Trowers & Hamlins solicitors explore the differences between buying the freehold of your block or extending your lease. The legal processes are also considered.
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