If you own a leasehold flat or house, its value starts to diminish when the lease has 80 years or less unexpired (because of the principle of "marriage value"); it diminishes further at 70 years unexpired because a significant proportion of Council of Mortgage Lenders members no longer regard it as a suitable lending security; when it gets to 60 years, the diminution increases exponentially.
How can we help?
Here at Adair Paxton, we have extensive expertise in leasehold enfranchisement work. With a large database offlats via our service charge management portfolio, we have almost unrivalled access to the poorly-understood figures and principles, including"relativity" as well as the term and reversionary yields.
We have seen steadily-increasing activity in this rather specialist discipline. We're one of the few firms in Yorkshire who are able to provide sound and robust valuation advice to both leaseholders and freeholders.
Parliament has given the vast majority of leaseholders the statutory right to extend their leases (anderadicate the ground rent) in return for a premium. Calculating this premium is an area where Adair Paxton can help.
Our services are available to lease holders as well as freeholders, to individuals, to groups of lease holders acting collaboratively in both purchase of the freehold and lease extensions.We can often provide initial advice without charge, usually to groups of lease holders and often at the AGM.