Property Services
Freeholding and Enfranchisement
You can purchase your freehold provided both you and the building satisfy certain conditions.
Cruickshanks is one of the legal pioneers in spreading the word about the virtues of leasehold reform both to estate agents and leaseholders. We have presented several seminars to estate agents and groups of leaseholders. Cruickshanks has become acknowledged experts in leasehold enfranchisement.
Buying and Selling Residential Property
Cruickshanks has specialised in property and property related matters since 1992 and have developed considerable expertise in leasehold enfranchisement and lease extensions. Leasehold properties are more common in London’s West End where we are located.
Whether you are a first time buyer or a serious property developer with a portfolio of properties, we aim to help make the process as smooth and seamless as possible. We have regularly attended exchanges and completion on short notice when speed has been necessary and have a reputation for the high quality of our service at reasonable cost.
Buying and Selling Commercial Leases
Taking a Commercial Lease
Unless one is fortunate enough to be able to purchase the freehold of the building most business owners who are looking for a shop, factory or warehouse will need to lease premises.
Landlords will normally require from small private companies a personal guarantee from its shareholder or directors, and it is not an uncommon requirement for a 6 month rent deposit to be held by the landlord. A personal guarantee should not be lightly given and resisted if possible as it defeats the protection of limited liability.
Lease Extensions
If your lease has more than 80 years remaining, you should consider extending it before it has less than 80 years. The reason for this is that once the lease has less than 80 years left, you will be required by the legislation to make an extra payment, called a Marriage Value.
At Cruickshanks we have developed a wealth of experience in transactions with leasehold properties since we are based in West End where most properties are leasehold.
Refinance
With the interest rate constantly changing, many clients need to refinance to take advantage of good rates. We work with all the main UK lenders as well as Bank of China, East Asia Bank, First Commercial Bank and HSBC to help our client refinancing their properties.
Before you decide to refinance you might wish to consider the following factors,
