Leasehold Scandal a Ticking Timebomb
When you see the word scandal you night think of the relentless shenanigans at FIFA, or a row about MPs’ expenses, maybe even a Big Brother / Strictly Come Dancing / X-Factor ‘celebrity’ affair.
However, there’s a serious scandal going on in the UK right now which is costing people who have leaseholds on their properties tens of thousands of pounds.
We have a very healthy portfolio of lettings and a growing block management side to our business at Carnabys which means we’re very experienced when it comes to leases.
We regularly come across properties in and around Burgess Hill with less than 85 years left on their leases. Owners of properties with leases like these need to act NOW.
Why? Well once a lease goes below 80 years it costs significantly more to renew. The legal side of things tends to be a lot more complicated once the 80 year point is passed.
It’s a scandal that more isn’t being done to warn, advise and help homeowners affected by this ticking time bomb.
It’s staggering how few leaseholders are aware of the potential problem creeping towards them relentlessly.
Many people are unwittingly sleep walking their way to a big and costly problem if they don’t take action.
A lot more needs to be done locally and nationally to make as many people aware of this issue as possible.
That’s why we offer a free Leasehold Extension Advice service on 01444 245 201 where we can answer your questions and refer you to reasonably priced legal experts who specialise in this field.
Thanks for reading.
Terry’s Top Tip: If in doubt check your lease to see how long you have left. It’s better to be safe than sorry.