Some people are calling it the ‘PPI of property’. But why are new-build houses being sold as leasehold rather than freehold properties? What’s wrong with this? And what might the future hold?
News & Advice
If you live in a leasehold flat, it’s highly likely you’ve come across Section 20 consultations, and if you haven’t then something could be amiss with the way your building is being managed. But not everyone understands what the rules are and when they’re applicable.
If you own a leasehold flat, there are plenty of reasons why you might want to get possession of the freehold, and several ways to do it. One of these methods is called the right of first refusal.
The First-tier Tribunal (Property Chamber) is one of seven chambers of the First-tier Tribunal, each of which settles disputes in different fields of the law.
The results of the National Leasehold Survey were released last week, and contain some startling revelations about the state of the leasehold property sector.
When you buy a leasehold property, you’re actually just buying the right to live there for a certain amount of time. This length of time is determined by the lease, and will vary depending on when the property was built and when the lease was last renewed. If you let the lease run out, the property reverts to the freeholder.