If a Section 42 Notice has been served, this notice will state an offer figure. This is very much the starting point in negotiations as to the price to be paid. You should take professional valuation advice on the likely ‘fair’ premium from a qualified surveyor. You can always use a Lease Extension Calculator to determine whether the offer seems …
I am a freeholder, involved in a lease extension. Will I need a solicitor?
If you are served with a Section 42 Notice or a Section 13 Notice, you should take legal advice immediately. If you fail to respond to the Notice of Claim or do not respond in the appropriate way, you are at risk of losing out. Even if you are happy to deal with the leaseholder ‘informally’, you will need a …
How can I find out how much my lease extension will cost?
This is a question for a valuer or surveyor who specialises in this area, but if you know the lease length and the current value of the flat and the ground rent schedule, then you can have a go at working this out approximately by using one of the calculators available online, like this one: http://www.bishopandsewell.co.uk/lease-extension-calculator/ These type of calculation …
FPRA AGM 10th November 2014
A number of colleagues and I attended the Federation of Private Residents Associations (FPRA) AGM in Central London on 10th November 2014. I was speaking to delegates about lease extensions and buying your freehold in a number of workshops. Other speakers included Rt Hon Keith Hill who spoke on ARMA-Q and the regulation of managing agents and the leasehold sector. …
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