Follow

The Leasehold Reform, Housing and Urban Development Act 1993 is the Act which finally gave leaseholders of flats the right to group together to collectively purchase the freehold from the current freeholder, providing both the building and the leaseholder meet certain criteria. Leaseholders of houses were already granted this right in 1967. Individual leaseholders also have been given the right to a new lease (in substitution for the existing lease), which grants a statutory 90 years added onto the unexpired term.

%d bloggers like this: