Leasehold Enfranchisement

Since the Leasehold Reform Act first came into effect in 1967, followed by the Leasehold Reform, Housing and Urban Development Act (1993) and latterly the Commonhold and Leasehold Reform Act (2002), complex valuation methods are required to determine the premium payable by qualifying leaseholders wishing to exercise their statutory rights to acquire the freeholds of houses, or blocks of flats, or secure new long leases of individual flats.

A Leaseholder has a choice between seeking to progress an extension through either the service of a notice, or, approaching the freeholder initially to informally seek to agree a premium.

Stimpsons Eves is an RICS Regulated practice and a member of the RICS Valuer Registration Scheme. We have worked on behalf of the leaseholder and freeholder (either direct, or through Solicitors) in respect of valuing and negotiating premiums for the extension of leases.

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