Ideal time to purchase your freehold or extend your lease

While we are all concerned that house prices have diminished over the last few years and with the suggestion of the period of decline flattening out as Leaseholders this could be an ideal time to buy the Freehold to your Properties or Extend your current Lease!  

If you have owned your Leasehold Property for a period of 2 years or more you may together with your fellow Lessees be in a position to force the current freeholder to sell to you thus taking control of your leasehold future and with the valuations being at their lowest level for some time this may be the ideal time to do so.

At Morgan Jones & Pett we are able to offer specialist advice regarding your rights to purchase your freehold by way of collective enfranchisement  or extend your lease as well as complete the same on your behalf. Email andrewskuse@m-j-p.co.uk 

Do you lease your flat? Why is it important to consider extending your lease?

If your Flat was built in the 60s 70s or 80s the Lease is probably only for 99 or at most 125 years. A Lease with less than 80 years left to run is always more difficult to sell as mortgage companies will not be keen to lend against them particularly in todays lending climate. What was once a good investment could now developing into a financial burden.

We at MJP have the expertise to advise on Lease Extension or Enfranchisement. For further information and a FREE consultation contact Andrew Skuse on 01603 877000 or email andrewskuse@m-j-p.co.uk