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What does Leasehold mean?
What is Ground Rent?
What is a Section 42 Notice?
A Section 42 Notice (also known as a Tenant’s Notice) is served on the landlord/freeholder of a property and starts the purchase of the freehold or lease extension process. Once a valuation of the property has been carried out by your surveyor they will send the valuation on to your solicitor.
Next, your solicitor will serve a Section 42 Notice on your landlord/freeholder advising the amount you are willing to pay for the freehold.