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Archive for Leasehold Valuation Tribunal

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Section 42 Notices: The Tenants Notice

Posted on 07/10/13, filed under Lease Extension Advice, Leasehold Valuation Tribunal, Statutory Lease Extensions

A Section 42 Notice is the formal notice a leaseholder issues to their freeholder when claiming their legal right to a statutory lease extension. Also referred to as the Tenants Notice, a Section 42 Notice allows leaseholders to begin formal proceedings to extend their lease. The lease extension adds an additional 90 years to the […]
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Re-Negotiating a Lease Extension

Posted on 19/07/13, filed under Leasehold Valuation Tribunal, Statutory Lease Extensions

The UK property market remains cautious after the recession. The majority of lenders now require much longer unexpired lease terms than ever before for a property to be considered suitable mortgage security, with many not lending upon terms less than 70 years unexpired. Solicitors and Surveyors acting for purchasers will advise clients not to purchase […]