As of 2024, key property statistics reveal shifts in demand for freehold homes, largely driven by changing legislation around leasehold properties, as well as a push toward greater transparency in property dealings. For buyers, these statistics offer valuable insights into market trends, helping them make informed decisions about property types. For sellers and investors, understanding […]
Collective enfranchisement involves various legal and financial challenges, making it a daunting process for many leaseholders without the right guidance. One potentially significant cost involved is the Stamp Duty Land Tax (SDLT), which is payable on property transactions in the UK. This tax can add a considerable amount to the overall cost of buying a […]
Collective Enfranchisement: a term that may sound daunting, yet holds the key to an empowering process in property ownership.
Understanding the ins and outs of collective enfranchisement regulations can be a game-changer for leaseholders looking to take control of their property.
Collective enfranchisement is a concept that empowers leaseholders to take control of their living spaces by collectively purchasing the freehold of their building. This process not only grants leaseholders greater control over their homes but also offers various financial benefits and increased property value.
To provide a quick refresher – if you find yourself in one of these situations: You and/or other leaseholders are dissatisfied with your landlord’s management of your residential building; or you want to exercise your rights to ownership of your property; or you wish to increase the value of your property, you might be considering […]
In The Oxford English Dictionary, the rather unique term “peppercorn rent” is defined as “a low or minimal rent”. However, this definition isn’t quite in line with modern property law. The Leasehold Reform (Ground Rent) Act 2022 legally defines a peppercorn rent for the first time as ‘an annual rent of one peppercorn’. The Act […]
Official UK Government statistics estimate that there are over 4 million residential leasehold properties in the UK.
