How does leasehold renewal work in Eaton square?
Asked on Mar 2 2011,
General in London |
The majority freeholder in this area is the Grosvenor Estates. Their lease renewal scheme can be googled and sets out the procedure for most leaseholds. The maximum leasehold is 21 years but you can top up your lease at any time back up to 21 years and the cost of that will be the difference between the property with it's present lease and it's value with a 21 year lease. The concept of a 21 year lease is so that the freehold can never be purchased as these 'shorter' leases do not entitle the leaseholder to apply to purchase the freehold.
I learnt about most of this online, but also spoke to local estate agents.
I hope this helps.
Answered on Mar 12 2011,
Is it a house or a flat? Is the lease over 21 years? The first port of call should be a solicitor experienced in Leasehold Enfranchisement and Lease Extension work who will advise if and on what basis you have statutory rights to extend your lease or to buy the freehold. Thereafter you will require specialist valuation advice.
Answered on Aug 27 2014,
Didn't find what you were looking for? Ask a question
More General in London questions on AskMe
See more AskMe Q&A about General