A chartered surveyor should be able to calculate the value of the freehold for you.
The calculation will depend on a number of factors, including:
- the ground rent
- the number of years left on the lease
- the current value of the house
- the rateable value of the house in 1965 (or the first day of the lease, if later) and 1990
These rateable values will tell your chartered surveyor which valuation method to use:
- the original valuation basis, according to the value of the site
- the special valuation basis, which includes the ‘marriage value’ – relating to how much extra the house will be worth when it is freehold
You or the landlord cannot choose which valuation method to use. It depends on the qualification criteria.
Buying the freehold can be a difficult process. We recommend that you get professional help from a solicitor and surveyor with experience in this area.
More information you might find useful:
- Houses – Qualification and Valuation: advice guide
- More Frequently Asked Questions on Houses – Enfranchisement and Lease Extension
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