Long Lease Extension and Enfranchisement Valuations

The Practice has seen this area of valuation work increase rapidly as flats built in the 1960's and 1970's are encumbered by what are now considered to be  inadequate length leases which do not comply with mortgage valuation criteria.  This can have a substantial effect on either the value for tenants or landlords.  Peter has gained a good working knowledge of the complex legislation that governs this area of valuation work and regularly advises both landlords and tenants on their rights and values. 

The House of Lords' determination of the 'Sportelli case' has had a pronounced effect on the reversionary values of long leasehold properties to the detriment of tenants and the advantage of landlords or reversioners. The House of Lords have recently given leave to appeal on various aspects of this case which may further change the basis of valuation.