LEASEHOLD EXTENSION AND FREEHOLD ENFRANCHISEMENT VALUATIONS TAXATION AND MATRIMONIAL VALUATIONS
A formal RICSRed Book Valuation is often required in order to ascertain the premium payable for a residential lease extension. Appraisal Surveyors can inspect on short notice and provide a formal valuation to your appointed solicitor within 24 hours of our inspection. In brief a leaseholder will qualify if:
Ownership exceeds two years. There is no residency requirement and the flat can be held in a company name.
The original lease was granted for a term greater than 21 years at a low ground rent.
This is not a full list of all the requirements, your solicitor will investigate the qualifying criteria fully. We can provide you with contact details for specialist solicitors who can assist you in this process. Please note that the cost of acquiring a lease extension increases when the lease drops below 80 years due to the inclusion of marriage value. Should you be in a situation where you are considering the purchase of a flat it may still possible to arrange for the existing owner to serve a notice, the benefit of which can be assigned to you prior to completion.
Shared Ownership Valuations are often required when buying an additional share of your property or if you intend to sell all or part of the property.
Taxation and Matrimonial Valuations compliant with current relevant Capital Gains Tax, Inheritance Tax legislation can also be provided on short notice.
We work with a number of local and national solicitors.