Leasehold Scandal a Ticking Timebomb

News at Galloways | 19/12/2016


Leasehold Scandal a Ticking Timebomb


When you see the word scandal you night think of the shenanigans at FIFA, or the greedy MP expenses row, maybe even a Big Brother / Strictly Come Dancing 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.


At least twice a week we come across properties in and around West Norwood and Penge 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.


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.


That’s why we have a free Leasehold Extension Advice hotline on 020 8778 1120 where we can answer your questions and refer you to reasonably priced legal experts who specialise in this field.


Thanks for reading.


Steve Carpenter


PS – If in doubt check your lease to see how long you have left. It’s better to be safe than sorry.


Want to get a SOLD or LET sign outside your property quicker? Call Galloways and our team on 020 8766 6111 or email: honest, expert and friendly advice.