News and articles – Lease Extensions and Collective Freehold Purchase
Following a decision by Croydon Council to roll out a borough-wide selective licensing programme on rented properties, Landlords and letting agents with properties in Croydon will have until 1 October 2015 to get their properties licensed.
Many property owners are unaware that the home they’ve bought comes with a ticking clock. If your property is leasehold rather than freehold then eventually the value of your property will start to disappear. The sooner you act; the less it will cost.
The recent case of Mount Eden Land Ltd v Bolsover Investments Ltd has marked a significant breakthrough for developers seeking to convert office space into residential housing. Landlords of commercial blocks are not permitted to stop conversion works by arguing that the conversion might one day lead to residential tenants acquiring rights to purchase the building through enfranchisement.
It has been suggested that an expansion of the social housing stock could be the best solution for the housing shortage in the UK.