Survey reveals shocking lack of knowledge over residential property leases

Property owners in the UK who are leaseholders do not know enough about how the system works and much of this is down to poor advice from conveyancing solicitors, it is claimed. They have a ‘shocking’ lack of understanding on how leases work, how they can be extended and the consequences of failing to extend a short lease, says research from law firm Bolt Burdon Kemp. The survey found that over half of leaseholders are unaware of the crucial 80 year rule that once the time left on a lease fa...