Under the provisions of the Leasehold Reform, Housing and Urban Development Act 1993 (as amended), owners of flats on long leases are able to extended the terms of their for a further 90 years, and reduce the ground rent to zero (a peppercorn).

We have over 20 years experience in providing advice to Leaseholders and Freeholders to guide them through the lease extension process and provide the appropriate valuation advice to allow informed decisions.

George Tait has carried out lease extension valuations for a wide range of clients across the whole of England, but predominantly operates in North London, Cambridge, Cambridgshire, Bedfordshire and Hertfordshire.

As well as providing valuation advice, we regularly negotiate the terms and premiums payable for lease extensions, and if required we can provide expert witness evidence before a First Tier Tribunal if the parties are unable to meet mutual agreement on the terms.

Owners of houses held on long leases are able to purchase the Freehold interest in the property by following the principles of the Leasehold Reform Act 1967.

We are able to guide both Leaseholders and Freeholders through this statutory process and provide valuation advice to enable the parties to make informed decisions on proceeding.

As well as providing valuation advice, we regularly negotiate the terms and premiums payable for lease extensions, and if required we can provide expert witness evidence before a First Tier Tribunal if the parties are un able to meet mutual agreement on the terms.

Over the past 20 years George has carried out valuations of properties for this purpose from as far north as Newcastle to Glastonbury in the South West and everywhere in between. More recently the focus has been in London, Cambridge and the Home Counties.

When the Freehold owner of a block of flats want to sell his Freehold interest he must serve notice on the leaseholders under Section 5 of the Landlord and Tenant Act 1987 giving them the right of first refusal.

We regularly provide advice to leaseholders (individuals and groups) who have received a Section 5 Notice, and want to know how best to proceed.

When dealing with Section 5 notices time is off the essence because the time limits are quite short, so it is best to obtain advice from a either a valuer of surveyor as soon as you receive it.

For over 20 years George Tait has provided strategic valuation advice to owners of residential investment properties from large Traditional Estates, Institutional Inverstors, Public bodies and private individual.

Work undertaken has included portfolio valuations and reviews, value maximisation, portfolio purchases and disposals.

Portfolios have comprises a mixture of properties subject to long leases, Assured Shorthold Tenancies, and Statutory Rent Act Tenants.

Valuations have been undertaken for accounting, tax, matrimonial and internal restructuring purposes.

Please get in touch to discuss your requirements.