Leasehold Enfranchisement

Residential Lease Extensions Advice & Valuation

Understanding different occupational and leasehold interests that by their very definition have reducing unexpired terms, it is essential to seek advice from valuation surveyors who have expertise and experience when it comes to lease extensions.

What is Lease Extension (or Leasehold Reform)

Present leasehold reform legislation permits qualifying residential leaseholders of apartments to be able to extend their existing leasehold terms by 90 years. For example if the existing leasehold interest has 30 years unexpired, the extended lease would add a further 90 years making the total extended lease term of 120 years. Furthermore the leaseholder would not be prevented from extending the lease again by a further 90 years.

What are the benefits of Leasehold Enfranchisement

Using the above example when the lease has been extended to an unexpired term of 120 years the capital asset value should provide a good hedge against inflation.

Obtaining funding (a mortgage) should also be an easier process with a lease term of 120 years.

Why Hurford Salvi Carr

The investment team at Hurford Salvi Carr have provided valuation advice and successfully undertaken negotiations for leasehold extension on behalf of both landlords and leaseholders. Let our expertise help you.

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