Leasehold Enfranchisement and the Importance of Professional Advice

Posted on October 11, 2018
Leasehold Enfranchisement

Leasehold Enfranchisement governs the specialist area of law whereby leaseholders can extend their leases and purchase their freehold.

This type of transaction is not the same as traditional conveyancing – buying and selling homes – and, as such, when looking for a Solicitor to act for you it is important to ensure that you obtain professional advice from a firm who practices in this field. Jefferies has over 20 years’ experience in advising both freeholders and leaseholders in these transactions and Amelia Hayes and Callie Tuplin are accredited by ALEP, the Association of Leasehold Enfranchisement Practitioners.

Once you have instructed your Solicitor you must also instruct a Surveyor who specialises in leasehold enfranchisement. We always advise our Clients that their appointed Surveyor should be RICS, Royal Institute of Chartered Surveyors accredited.

Lastly, it is likely that your freeholder or managing agent may contact you directly offering you a lease extension. The freeholder or their managing agent will likely offer you a premium, with a higher ground rent than what’s in your existing lease. It is important to remember that the managing agent will be acting solely in the freeholder’s interest as that is what they are paid to do. By instructing a Surveyor to review the offer or negotiate on your behalf means that you have the peace of mind that your interests are fully represented. Your Solicitor will also review the draft lease provided by the freeholder as the initial draft lease may contain extra clauses that the freeholder is seeking that will mean the freeholder can charge more money for things like making a maintenance enquiry.

If you have any questions about leasehold enfranchisement, have been offered terms by your managing agent or would like advice on instructing a Surveyor please contact Amelia Hayes.

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