New South Law are a friendly, independent law firm based in West Sussex, offering legal help and representation to clients across the UK.
We cover a range of legal case types, and our team will ensure you feel supported, understood and stress free throughout the process.
If you need us, we’re here for you.
I received a leaflet about the Leasehold Scandal,
could you help me?
You may not be
able to sell your property
Many lenders will not grant mortgages for buyers purchasing a house with an impaired lease and if you do manage to sell, the value of your property is likely to be significantly less.
may now be unaffordable
If your freehold (the land on which your property is built) has been sold to a 3rd party (which you may be unaware of), it could now cost thousands more than the original price which could cause problems if you want to buy it now or in the future.
The Ground Rent Will Accelerate
The clause means that your ground rent will increase rapidly either in line with the RPI or doubling periodically.
What is a toxic leasehold?
A toxic leasehold can exist when the accelerated ground rent clause in your lease agreement causes your payments to increase throughout the duration of your lease. This can result in serious consequences as shown below. There are around 100,000 people with a leasehold like this and you could be one of them.
What are the consequences of this type of lease?
Sarah works at The Claims Bureau. She is a recent homeowner and was affected by the leasehold scandal. She was initially unaware of the clause in her lease until she was talking about it at work and was alerted that there could be a serious problem there. She got in touch with us and we are now trying to help her. If Sarah's story sounds familiar to you or someone you know, you could have a claim with us.
There is a six year limitation to making a claim; from the time you were sold your leasehold and also a fall back provision of three years from the date you became aware that there was a problem. It is very likely that if you purchased a leasehold before 2013 you have passed the limitation.
We work on a No-Win-No-Fee basis and, in some cases, no fee at all, even if you receive compensation. This is because our fees may be recovered from the other side. Leasehold cases are complex and could go down several routes.
Call us today to find out more.
Is there an alternative solution?
The Government has proposed a future ban on the sale of houses as leaseholds, and onerous ground rent clauses. However, the second reading of the Leasehold Reform Bill has been pushed back and even if successful, we consider there is little prospect of leaseholders seeing any changes until 2021. By 2021, unless significant changes are made regarding limitation time periods, many leaseholders will be out of time to seek redress for poor advice in relation to their original conveyance.
Many of these leaseholds were sold to people in flats or new build housing in the last 6 years.
If you would like us to explain what we can do for you in more detail and think friends, family or neighbours may also benefit, let us know and we can arrange a meeting in your area.
If you think you have a case and would like to find out some more information, fill out the form below and one of our team will be in touch.