How Does It Work?
You can rapidly prepare professional valuation reports in accordance with case precedents and the Leasehold Reform, Housing and Urban Development Act 1993 (LRHUDA 1993).
All you will need to value your freehold or lease extension are copies of the relevant lease(s). Don't have a copy? We can fix that for you.
We'll explain how to read a lease to get the right information. Our web app takes care of:
- Complicated ground rent lease terms, including ground rents adjusted according to the Retail/Consumer Price Index.
- Property market values with freehold-share/long-lease vs. the value with current lease. Confirmation via the District Land Registry sold-price API and Zoopla/rightmove data.
- Technical 'no-Act world' adjustment of the property market value with current lease.
- Qualifying leaseholder improvement works carried out to the property.
- Marriage or hope value for leases of less than 80 years remaining.
- Development marriage or hope value due for any loft-space or other property retained by the freeholder.
- Freehold flats retained by the freeholder.
Want a look? View an example report or try the demo version.
Prefer a valuation estimate before you buy? Try our guesstimator.
What is it Good For?
- FreeLee's web app is suitable for leasehold flats only.
- It handles properties containing up to 15 leasehold flats, with up to 20 different ground rents per lease.
- Purchase provides 3 months' access to the app.
- The app is ideal for valuations for taxation purposes (inheritance or capital gains tax) or researching a property prior to purchase or sale. You should never buy a leasehold property without first considering freehold and/or lease-extension costs.
- In experienced hands, the app can also be used to produce valuations for service of statutory legal Notices to buy/sell the freehold or lease extensions. For amateur users, however, we recommend either using paid, in-app assistance or instructing us to carry out your valuation.
What Kind of Support Will I get?
IT support assisting with any technical app faults is free of charge.
Valuation support dealing with specific areas of difficulty (e.g. determination of market values, complex ground rents, loft-space valuation etc.) is available via in-app purchases.
You can upgrade to our managed valuation service at any time. We'll deduct the price of the app from your fee.