Words of warning over leaseholds
Leasehold problems are set to increase, according to Mary-Anne Bowring, managing director of Ringley and a governor for the Institute of Residential Property Management (IRPM).
"We are receiving double the amount of enquiries each month on leasehold issues, the top enquiry being lease extensions, with absentee freeholder problems and freehold purchase close behind" she says.
Leaseholders who have owned the property for two years have a legal right to claim a 90-year lease extension which can add value to the property.
For more information, visit www.leaseholdguidance.com
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