When Katie talks about lease limbo from what I understand the majority of the extension bill would come from the marriage value and if the government plan on scrapping this surely it's better to wait? .They need to give leasholders some sort of guidance.
Hi. Yes the axing of marriage value is a large part of the premium for a lease below 80 yrs. However some people may not be able wait if they need to sell for example. Its likely the axing of marriage value is going to be legally challenged by the freeholders. People need to be armed with all the information to make an informed decision of weather to wait for government legislation or proceed now. Each individual will be different. But yes you are correct axing of marriage value would massively decrease the price for a lease extension under 80yrs.
@@katiejane13uk So if you are not selling would it make sense to wait and see what happens as it will only get more expensive if the marriage value increases, and that's what their talking about scrapping I think we need this new extension calculator as soon as possible.
@@michaelgarment4191 at the moment no one knows time scales and if the reforms will be watered down. That is a concern. But if they are not watered down then yes not having marriage value would be cheaper.
We have no idea how long it will take to come in, if it will come in as there will be a lot of hurdles to get over. The lower your lease the more expensive marriage value and if marriage value ultimately doesn’t get removed then its been an expensive waiting game. This isn’t yet set in stone
@@NatashaCollinsRealEstate so by making the announcement they have basically created more confusion if they were to go back on what was released to the press there would be uproar as I imagine lots of people like myself have put their lease extension on hold as we are talking big money in some cases.
When Katie talks about lease limbo from what I understand the majority of the extension bill would come from the marriage value and if the government plan on scrapping this surely it's better to wait? .They need to give leasholders some sort of guidance.
Hi. Yes the axing of marriage value is a large part of the premium for a lease below 80 yrs. However some people may not be able wait if they need to sell for example. Its likely the axing of marriage value is going to be legally challenged by the freeholders. People need to be armed with all the information to make an informed decision of weather to wait for government legislation or proceed now. Each individual will be different. But yes you are correct axing of marriage value would massively decrease the price for a lease extension under 80yrs.
@@katiejane13uk So if you are not selling would it make sense to wait and see what happens as it will only get more expensive if the marriage value increases, and that's what their talking about scrapping I think we need this new extension calculator as soon as possible.
@@michaelgarment4191 at the moment no one knows time scales and if the reforms will be watered down. That is a concern. But if they are not watered down then yes not having marriage value would be cheaper.
We have no idea how long it will take to come in, if it will come in as there will be a lot of hurdles to get over. The lower your lease the more expensive marriage value and if marriage value ultimately doesn’t get removed then its been an expensive waiting game. This isn’t yet set in stone
@@NatashaCollinsRealEstate so by making the announcement they have basically created more confusion if they were to go back on what was released to the press there would be uproar as I imagine lots of people like myself have put their lease extension on hold as we are talking big money in some cases.
Marriage value is the component least likely to pass through House of Commons /Lords. If it does, its a good three years away.