What is the surveyor’s job when instructed on leasehold enfranchisement issues?
• The surveyor is valuing the compensation payable to the freeholder for the loss of his interest. The valuer will firstly need to inspect the property where the floor area will be measured and notes on condition will be made. • The surveyor must calculate the loss to the freeholder of ground rents over the whole term of the lease. Secondly, the reversionary interest will be assessed (this is the value to the landlord of his right to receive the flats back at the end of the lease). Thirdly, the amount of marriage or hope value payable must be calculated (only if a lease has less than 80 years remaining). • Following the valuation, the surveyor will often be required to negotiate the premium payable with the surveyor acting on the other side. • If a settlement cannot be agreed between the parties then the surveyor may be required to provide evidence in the Leasehold Valuation Tribunal.
