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Restrictions on our ability to act in regard to leasehold flats
We regret that we are currently unable to act on sales or purchases of leasehold flats in blocks which exceed 5 storeys or 11 metres in height.
This is due to new complexities in regulations and mortgage lender requirements, brought about by the introduction of the Building Safety Act 2022 and Fire Safety (England) Regulations 2022 following the Grenfell disaster. We are awaiting further guidance and clarification from the government and mortgage lenders as to how we can proceed with leasehold property transactions in such as way that complies with these additional complexities. Until that point, we are unable to act on matters involving properties as described above.
The Building Safety Act 2022 and Fire Safety (England) Regulations 2022 may have implications for you if are looking to buy a leasehold flat or if you own a leasehold flat and are looking to sell, remortgage or transfer equity. For more information or to discuss your individual circumstances, please call our team and we will be happy to help.