Earlier today, the BBC ran an article on an increasingly common trap affecting thousands of families across England and Wales. We asked Emily Fitzpatrick, Head of Leasehold Enfranchisement, and David Knapp, Head of Residential Property, to give their thoughts on the article.
“This lady’s story shows the importance of obtaining proper and independent legal advice from solicitors experience in dealing with leasehold properties (whether that be houses or flats) and with an in house leasehold enfranchisement specialist. A purchaser is generally expected to understand what it is they are buying, but with the complexities of leasehold property, this is very often not the case. Acquiring a leasehold property can be very different from buying a freehold property, and can often be more expensive in the long run when ground rent and the subsequent purchase of the freehold interest (or an extension of the lease) is taken into account. Our specialist residential conveyance David Knapp and leasehold enfranchisement specialist Emily Fitzpatrick, both partners at Hart Brown, have considerable experience in such matters”.
This is not legal advice; it is intended to provide information of general interest about current legal issues.