Leasehold Reform Act 1967 as amended by the Commonhold and Leasehold Reform Act 2002 allows owners of leasehold houses to acquire either the Freehold of their property or extend their lease by a further 50 years.
There are various qualification requirements and several methods of valuation. We would be happy to explain these to you in more detail.
At Copping Joyce Surveyors we have experience of the preparation of valuations under this legislation. Our experience extends to some of the less frequently experience problems surrounding this legislation, such as ground rent reviews after the first 25 years of the statutory 50 year lease extension.