When is a lease not a lease?
A reader of the Financial Times is in the process of buying a leasehold property in central London. The property has a lease of more than 140 years and the ground rent charges are over £1,000 a year. They understand that the property may qualify as an assured shorthold tenancy but are unsure of what this means exactly.
Will Thomas, senior associate in BDB Pitmans’ residential real estate team, explains what shorthold tenancies are and how this affects the reader’s property purchase.
The full article is available to subscribers of the Financial Times, here.