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Frequently Asked Questions
- I own a leasehold house. How much will the freehold cost?
- I want to extend my lease. Are there any additional costs payable other than the price of the lease extension?
- How can I buy the freehold of my building?
- How long can I extend my lease for?
- Why do I have to extend my lease?
- I own a leasehold house. How do I buy the freehold?
- What will it cost to apply to the Leasehold Valuation Tribunal (LVT)?
- What happens if we cannot agree on how much the lease extension should cost?
Frequently Asked Questions
In what circumstances can I apply to the Leasehold Valuation Tribunal (LVT) to vary my lease?
An individual party to a lease can make an application to a Leasehold Valuation Tribunal (LVT) to vary the lease under the provisions of Part 4 Section 35 of the Landlord and Tenant Act 1987. However the grounds for a compulsory lease variation are limited. The grounds under which you can make an application are:
- The lease has inadequate provisions relating to the repair/maintenance of the flat or building.
- The insurance provisions of the lease are inadequate.
- The lease has inadequate provision for the repair/maintenance of any installation required for a reasonable standard of accommodation of any flat within the building.
- The lease has inadequate provision for providing any service required for a reasonable standard of accommodation of any flat within the building.
- The lease has inadequate or no provision for the recovery of money from a party to the lease spent on maintaining the building by another party to the lease.
- The computation of a service charge detailed in the lease is inadequate. An example would be where a service charge proportion expressed as a percentage in all of the leases in respect of a building does not add up to 100%.
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