Under the Leasehold Reform Act 1967 tenants can have the right to extend the lease of their house by 50 years with nil premium but to a modern ground rent, which is usually very much higher than what is considered a normal ground rent. They may also be able purchase the freehold but the law is very involved and there are several methods of valuation. The freeholder must be compensated for their loss and it is important that the valuation is carried out by an experienced valuer to ensure the correct advice is given and the appropriate premium paid please contact us for details of how we can assist.
Contact us to:
- Understand to what you are legally entitled
- Gain an understanding of the issues
- Obtain a valuation
- Know your rights