Steven Thom Senior Associate - Leasehold Enfranchisement - London
“You’ve been brilliant and I’m recommending you whenever I can.”
Steven works within the Residential Property team at the London office. He specialises in leasehold enfranchisement matters and related landlord & tenant issues.
Main areas of practice
Steven's core practice focuses on lease extensions and freehold acquisitions under the provisions of the Leasehold Reform, Housing and Urban Development Act 1993. Within this area, he also advises on transactions which fall outside of the statutory framework.
Steven deals with the purchase of the freehold of houses under the Leasehold Reform Act 1967, as well as advising on tenants' rights of first refusal granted by the Landlord and Tenant Act 1987.
Steven accepts instructions on high value and complex residential sales and purchases, particularly those which have a leasehold enfranchisement element, such as the assignment of a statutory lease extension claim.
Steven acts for both landlords and tenants when advising on lease extensions and freehold acquisitions. When dealing with residential sales and purchases, Steven is regularly instructed by owner occupiers, developers and investors. Steven welcomes instructions from clients based overseas and is flexible when accommodating local time differences.
- Steven excels at dealing with time sensitive transactions, particularly when there are complicated requirements with little or no margin for error. In the run up to the Stamp Duty Land Tax regime change in 2016, Steven was successful in completing several purchases of short leases with the benefit of statutory lease extension claims. His cash investor clients had agreed the deals shortly before the deadline and in some cases Steven had as little as two weeks between initial instructions and completion to conclude the necessary work.
- Steven has a keen understanding of the negotiation aspects of the Leasehold Enfranchisement process. This allows him to offer proactive support to his clients' instructed surveyors and assists in achieving the best results in settlement talks.
- Steven is experienced in acting on the sale of multi million pound properties in Central London as well as complex off plan purchases in luxury developments.
- Steven has built solid working relationships with surveyors and agents working in the residential property sector, which helps him provide a high standard of service to his clients whilst ensuring they obtain the specialist advice they need.
“Steve, thank you so much for your help with our purchase. Buying a house can be stressful but your friendly and professional approach made the whole thing a lot easier!”
“I wanted to express my thanks for all your efforts in the sale of my two flats. Your actions were always courteous, timely and professional.”
“Steven Thom has recently helped me buy and sell my property in less than 5 weeks! It was the first time I have sold a property in over 30 years and needless to say the whole process was extremely overwhelming and stressful, however Steven remained calm and collected and ensured the whole process was seamless from start to finish. I would not hesitate to recommend Steven to anyone buying or selling a property and cannot thank him enough for making this big step feel so easy!”
Short leases are an all too common problem for owners of flats when they come to sell their property. The root of the problem is that a lease is a wasting asset, which means that as time goes on it loses value.
Related Knowledge & Resources
Chancellor announces changes to stamp duty land tax for first-time buyers but with no changes for the rest of the market
As had been hinted at over the weekend, in today's Autumn Budget, Phillip Hammond has announced changes to Stamp Duty Land Tax ("SDLT") to assist first time buyers to be known as "Discount Relief".
In an article for Lexis PSL Elaine Allen, legal director at Blake Morgan, examines issues currently facing the British housing sector, what the government is doing to combat the housing crisis and how effective the proposed solutions could be.
The higher rates of SDLT are intended to apply to purchases of additional residential properties, such as second homes and buy to let properties.