On 7th January 2021, the Government announced its intention to legislate to allow leaseholders to extend leases to 990 years with zero ground rent. Details can be viewed here. So the big question for leaseholders considering lease extensions is do I do this now or wait for the new legislation? The main motivation to extend […]
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What is a Lease? A lease is essentially an agreement whereby one party agrees to lend something to another party in return for some form of payment. It can relate to anything – a car, machinery, a television. This article deals with leases in the context of property, specifically flats. Flats in England and Wales […]
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All leases have their unique characteristics and, as the First Tier Tribunal often proves, can be interpreted in different ways. The scope of this document is to explain to the reader the core structure of leases. By understanding this, a potential purchaser or owner of a leasehold property can be armed with sufficient knowledge to […]
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Why extend my lease? Remember, as a leaseholder, you don’t own your property. As the lease gets closer to expiry, the value of the lease decreases and it becomes more expensive when you extend the lease especially when you consider “marriage value”. In practice, marriage value kicks in the when the lease term reaches 80 […]
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