When it comes to property, here at The Acorn Group we really know our onions! Internally, our ‘hive mind’ is put to work every day, with all members of staff able to pick the brains of specialists throughout the group. Our range of knowledge is our secret weapon!
Christina from Dartford asks:
"When renewing my lease, what happens if the freeholder is absent?"
Silvana Goddard, Lease Extensions Specialist, replies:
"If you are looking to extend your lease or buy your freehold but the freeholder cannot be found, the Leasehold Reform Housing and Urban Development Act 1993 give leaseholders the right to still continue the process of extending their lease or buying the freehold. In the first instance it is important to ascertain that the freeholder is absent. This must be done through your solicitor and it must be shown that they have made every effort to make contact with them.
If the solicitor cannot make contact they will make a vesting order to the county court.
Once the county court have decided that the freeholder is absent you will require an Expert Valuation Report for the First Tier Tribunal as they will decide the cost of the lease extension or the cost of the freehold.
If you would like to discuss your options, why not speak to our team of experts for free advice on 020 8315 6901."
Silvana has over 25 years of financial service and business development experience and thrives in helping her clients increase the value of their homes. Put Silvana or any of our panel of property experts to the test.