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. On practical marriage value kicks in the when the lease term reaches 80 years. Marriage value is the increase […]
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