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Leasehold properties – Grounds for concern for solicitors?

An issue has been brewing since the Housing Act 1988 came into force in January 1989  – however the potential problem has only recently been recognised. The issue surrounds the buying of a leasehold property where the ground rent is, or will during the lease be £250.00 or more (£1,000.00 or more in London), meaning that the lease will therefore fall within the provisions of The Act and become an assured tenancy. 

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