Leasehold Valuation Tribunal
What happens if the premium cannot be agreed between the leaseholder and the freeholder?
- If the parties are unable to agree on the premium, an application can be made to the Leasehold Valuation Tribunal where a panel will listen to the evidence of both the freeholder’s and the leaseholder’s representatives. Having heard the evidence, they will then make a determination as to what the premium should be.
- This decision can in certain circumstances be appealed to the higher Lands Tribunal. However, if the decision is appealed on a valuation issue alone, it can often be difficult to get permission to appeal.
How do I apply to the Leasehold Valuation Tribunal (LVT)?
Your solicitor will do this on your behalf, but in any event if the claim is for a lease extension or collective enfranchisement, an application must be made no later than 6 months from the date of service of the landlord’s counter-notice. Failure to do to will result in the Notice of Claim being deemed to have been withdrawn.
If I apply to the Leasehold Valuation Tribunal, will I require a solicitor, barrister and a valuer to act on my behalf?
Much depends on what issue or issues are in dispute, but whether it is a legal or valuation issue it is generally adviseable to retain the services of Counsel and an expert valuer.
How long will it take for the Leasehold Valuation Tribunal to make a decision?
The Tribunal will report in writing providing reasons for the decision around two months after the hearing.
Do I have to attend the Leasehold Valuation Tribunal hearing?
You do not have to attend the hearing but can do if you wish.
Can I appeal against an Leasehold Valuation Tribunal decision?
Yes, but you require permission from the LVT or the Lands Tribunal.