Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Concerns Raised Over Leasehold Enfranchisement Valuation Consultation
A recent article on Property118 discusses concerns regarding the Government’s consultation on leasehold enfranchisement valuation rates. The article, written by Vanessa Griffiths, an ALEP member, welcomes the consultation but questions its focus.
The consultation relates to the deferment and capitalisation rates that will be prescribed under the Leasehold and Freehold Reform Act (LAFRA). The article notes that these rates are important and should be informed by specialist evidence.
The author expresses concern that the consultation is largely framed around how the rates are set, rather than other potential issues.
This topic is relevant to UK letting agents and inventory clerks as changes to leasehold enfranchisement valuation could impact property management and leasehold transactions.
Source: Property118