Residential

Residential  surveyors in London

Residential 
surveyors in London  

You can always rely on Aspect Surveyors Ltd for Residential Property Services, including Valuations and Lease Extension, and Asset Management in the heart of London. 
Want to know more about leasehold negotiations?

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Property Management in London

If you are looking to buy or rent a property and looking for a well established Property Management Company, please contact our team at Aspect Surveyors Ltd. Our aim is to deliver a personal service to both Landlords and Tenants in London. 


Leasehold Enfranchisement made easy

There are two rights for long leaseholders both of which are contained within Part 1 of the Leasehold Reform, Housing and Urban Development Act 1993 as amended by the Housing Act 1996 and the Commonhold and Leasehold Reform Act 2002.
 
The first right is a group right for leaseholders of flats to purchase the freehold interest of the building in which they reside subject to certain qualifications. The second right, is for the individual lessees to renew their lease which, in effect, adds 90 years to the unexpired term of the existing lease.

With respect to enfranchisement, a group of leaseholders have the right to purchase the freehold of their property as long as certain conditions are met. The building must contain at least 2 flats, the original lease has to be greater than 21 years and at least half the leaseholders must participate. Purchase is not possible if the freeholder lives in the building which was originally converted by the freeholder and if there are less than 5 flats. The leaseholder does not have to be a resident to participate and up to 25% of the building floor area may be for non-residential use.

The cost of buying the freehold is based on an assessment made in three parts:

  • Capitalised value of the ground rent
  • The value of the freeholder's reversion at the end of the lease
  • Half the marriage value
Marriage value is the increase in value when the freehold and leasehold interests are combined or married together.
 
To go about buying the freehold, leaseholders form a right to enfranchise company and notice is served on the freeholder making a monetary offer for the freehold. We can serve that notice for you. The freeholder either accepts or serves a counter notice giving his asking price. The two parties then negotiate the price. If this fails then either side can apply to the Leasehold Valuation Tribunal who will determine a price.
 
At Aspect Surveyors Ltd, we specialise in helping leaseholders in the purchase of their freehold, by providing advice, a professional valuation, negotiation with the freeholder and expert witness if required at the LVT.
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Swift lease extensions

We are able to provide clients with: 
  • The provision of a preliminary report, valuation and advice to enable the client or qualifying tenants to take a decision whether they are eligible,         capable of, and wish to exercise their rights
  • The provision of valuation advice as to the amount(s) of any offer or counter-offer that should be included in any notice or counter-notice
  • The undertaking of associated negotiations on behalf of the landlord, or on behalf of the participating tenants or nominee purchaser
  • The preparation and provision of expert evidence to a Leasehold Valuation Tribunal (LVT) or the Lands Tribunal
  • For general information, advice and background to the legislation involved, please visit the Leasehold Advisory Service website
Landlords and tenants
Swift lease extensions
Leasehold enfranchisement made easy
Property management in London
Leasehold enfranchisement in London. Call Aspect Surveyors Ltd today.
0208 446 4808 

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