Lease extensions & collective enfranchisement
Lease extension offers an alternative to Collective Enfranchisement and can be undertaken on an individual basis and is therefore beneficial when a qualifying group of residents cannot be gathered to allow for collective enfranchisement. Leasehold properties are a diminishing asset, but extending the lease provides long term security of tenure for the leaseholders and allows the owners to benefit from the full increase from any future rise in the values. However, the shorter your lease gets, the less valuable it becomes, and the more it will cost to extend the lease. Whitton & Laing are experienced valuers acting for both Freeholders and Leaseholders in extension applications. As an additional service our surveyors can be appointed to undertake negotiation on behalf of the client avoiding inflated premiums and unnecessary legal costs.
COLLECTIVE ENFRANCHISEMENT (FREEHOLD PURCHASE)
Collective Enfranchisement is the legal term used when the leaseholders of a block of flats or apartments group together to buy the freehold of their building. Whitton & Laing Surveyors are experienced valuers in this field acting for both Freeholders and Leaseholders during the application process along with Leasehold Valuation Tribunal representation. As an additional service our surveyors can be appointed to undertake negotiation on behalf of the client avoiding inflated premiums and unnecessary legal costs.