Friday, December 18, 2015

More than 50% of leaseholders not aware of 80-year rule

Leaseholders in the Dark About the Cost of Extending a Lease

Bolt Burdon KempÂ’s professional negligence team is committed to raising awareness of the traps that can befall property owners, often caused by solicitors giving negligent advice, which can seriously affect the value of their home. To bring attention to the particular dangers associated with leasehold property, we conducted a national survey with Onepoll of homeowners across England and Wales about the public’s awareness of the dangers of owning a lease. As soon as a lease drops below 80 years in length, it becomes progressively less valuable and significantly more costly to extend, due to a law commonly known as the “80 year rule". Bolt Burdon KempÂ’s survey has uncovered that more than half (56%) of people who currently own a lease do not know that the 80 year rule even exists.

Posted by tiffany holland @ 10:59 AM (3730 views)
Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>