Leasehold Reform Act valuations deal with valuations for three main situations:
— Owners of leasehold houses buying their freehold
— Owners of flats buying lease extensions
— Owners of flats collectively buying the freehold of their building
These are complicated valuations subject to statutory assumptions, some of which make a substantial difference to what happens in the real market place. Tribunal decisions often influence subsequent cases and Maunder Taylor maintains up to date records of such authorities to assist in giving proper advice to our clients.
We aim to reach settlements by way of negotiation wherever possible and the majority of our cases are settled without the need for a Tribunal determination.
If a disagreement in value cannot be resolved by negotiation, then it can be referred either to a Court or Tribunal. Maunder Taylor have considerable experience in acting as Expert Valuation Witness and Advocates, both in written representations and oral hearings, and we are able to ensure that our clients’ cases are dealt with both professionally and competently. We also advise on the costs of the reference to the third party and how our clients may seek to limit their exposure to those costs.
Bruce Maunder Taylor FRICS MAE and Jason Mellor DipSurvPract are experienced in appearing before Tribunals giving evidence in contested cases, writing articles for publication and speaking at professional gatherings.
Contact Bruce Maunder Taylor FRICS MAE or Jason Mellor DipSurvPract for more information about our Leasehold Reform Act valuation service.