Mythbusting
Mythbusting
Separating Fact from Fiction
Surveying is a profession surrounded by misconceptions. From assumptions about what surveyors do to confusion over when a survey is needed, these myths can lead to costly mistakes and missed opportunities.
Let's dispel the myths and uncover the facts behind professional surveying.
Not necessarily.
For a statutory lease extension, the premium isn't simply whatever the freeholder wants to charge.
It's based on a legal valuation process that takes into account factors such as the property's value, the length of the lease remaining and the ground rent.
The freeholder is entitled to negotiate, but so is the leaseholder. If an agreement can't be reached, there are legal processes available to determine the premium.
That's why it's so important to obtain independent specialist valuation advice before agreeing a figure.
Have you ever wondered how lease extension premiums are actually calculated?
