Richard Murphy

Chartered Surveyor specialising in Enfranchisement and Lease Extensions. Based in Mayfair and Liverpool.

[Richard Murphy @RichardMurphy1]

Buyers needs accurate tenure on leasehold property upfront giving the unexpired term and the ground rent profile. It should be the norm but sadly it’s usually only displayed when the lease has more than 100 years at a peppercorn ground rent.

[Estate Agent Today @EAToday]

#Property Details - new dispute over what should be included https://t.co/bcYjoexqH8

[Richard Murphy @RichardMurphy1]

I guess a lot of people would like to know how much a lease extension would cost without ground rents and marriage value...
The table below gives the costs excluding fees based on the current deferment rate of 5%.
Hope it helps. #excludingmarriagevalue

[Richard Murphy @RichardMurphy1]

@LiamSpender's great summary brings us up to date on where we are with the Fire Safety Bill. Battle lost but not war. Leaseholders surely shouldn't be forced to for inadequate Building Regulations, poor construction and unsafe materials?

[Leasehold Knowledge @LKPleasehold]

We failed to stop the Fire Safety Bill. So, what happens next? This superb article by @LiamSpender offers some thoughts @team_greenhalgh @RobertJenrick @ChrisPincher https://t.co/GEu3a66MXG

[Richard Murphy @RichardMurphy1]

Taking a "deep dive" into the Lawrence Wharf FTT:7-day hearing,2QCs, 2Sols, 2RICS, 3Planners, a QS but no partridge in a pear tree. Summary 6.33% Cap rate for a £300 GR increasing by £100/25 years. Dev Value reduced by 91% without planning and lots of fees https://t.co/oWWbqLwUxx

[Richard Murphy @RichardMurphy1]

Seconds out....round 4!
Liam Spender's brilliant article summarising exactly where we are with The Fire Safety Bill. Come on MPs...listen to the "fans" and do an ESL style U-turn. Support leaseholders. https://t.co/snAOISeIzs

[Richard Murphy @RichardMurphy1]

What is the real state of the Retail Industry in the UK today?
For a brilliant insight into this world look no further than WH Smiths v Commerz (Westfield Shepherds Bush).
Judgement shows a 20% fall pre-Covid and a staggering 57.5% post-Covid.
https://t.co/hQams3YToQ

[Richard Murphy @RichardMurphy1]

My SO Home: No. 6 https://t.co/TaZijRphUc

[Richard Murphy @RichardMurphy1]

Sad day for all the staff at the Leasehold Solutions, Leasehold Valuers and Leasehold Law. They worked tirelessly for leaseholders up and down the country and will be sorely missed. I wish them all the very best.

[Richard Murphy @RichardMurphy1]

Shared ownership and the impossible dream

[Shared Ownership Resources @ResourcesShared]

#SharedOwnership & the impossible dream: why most shared owners don't & can't staircase.
@RJC_Surveyors @RichardMurphy1
#ukhousing #affordablehousing #UnlockTheDoor
https://t.co/tSmnrznke9

[NLC - KATIE KENDRICK OBE - LEASEHOLD CAMPAIGNER @NLC_2019]

"Leasehold contracts have had their day.
A feudal relic, medieval origins. Leasehold has become an inappropriate contract for modern Britain.
Time for a root & branch reform"
@RobertJenrick

@LKPleasehold #leaseholdscandal
https://t.co/bIChvnth7w via @financialtimes

[Richard Murphy @RichardMurphy1]

Shared ownership...Good place for the government to start implementing an end to Marriage Value?

[Shared Ownership Resources @ResourcesShared]

Why does it cost so much to extend the lease on an 'affordable' #SharedOwnership flat? Should housing associations be charging marriage value? Should they be charging extortionate lease extension premiums on short 99-yr/125-yr leases at all?
#ukhousing
https://t.co/Pg9kVXgSHr

[Shared Ownership Resources @ResourcesShared]

What's the Zucconi precedent? And why does it matter for shared owners?
#SharedOwnership #leasehold #ukhousing
https://t.co/Pg9kVXytyZ

[Richard Murphy @RichardMurphy1]

@extendalease @RJC_Surveyors I believe they did and that’s why all new future ground rents will be abolished and the onerous ones will be limited to 0.1% of cap value

[Richard John Clarke @RJC_Surveyors]

10 & 15 Year Doublers to be outlawed
Funny thing this, but......
I raised this 9 years ago on LinkedIn and only 1 person responded @DamianGreenish. Maybe we were both ahead of our time!

https://t.co/lKzlqA5UWW

[Richard Murphy @RichardMurphy1]

Shared ownership leases often overlooked by the Enfranchisement professionals as the formal lease extension route is not practically available to them. However many of the earlier schemes are approaching 80 years. This enquiry is an example of the problem and a possible solution.

[Shared Ownership Resources @ResourcesShared]

Proposed Gov leasehold reforms create a dilemma for shared owners with short leases. Extend now or wait? @RichardMurphy1 of @RJC_Surveyors gives his opinion in this Shared Ownership Resources feature.
#SharedOwnership #leaseholders
https://t.co/W3T4NiGEYx

[Richard Murphy @RichardMurphy1]

ALEP’s Annual Lecture on Cladding and Enfranchisement Continues Online Success | News on the Block https://t.co/vUGLOUhEgK

[Richard Murphy @RichardMurphy1]

Thank you @ALEPofficial for inviting me to the Round Table discussion. A lot of great contributions and food for thought!

[ALEP @ALEPofficial]

A very interesting second day for the #ALEPLecture. Huge subject and a lot more discussion to be had. Thank you to all our speakers. #claddingscandal #leasehold

[Richard Murphy @RichardMurphy1]

@nearlylegal In those cases the ground rent would also need to be capitalized but probably at 20x depending on rent review gearing.

[Richard Murphy @RichardMurphy1]

@nearlylegal It follows previous similar decisions in Roseleb and Brick Farm, none of which dealt with Valuation. I don't think its a route for SO <100% as Specified Rent would need to Capitalised (probably 30x Rent) as law requires a Rent to be peppercorn.

[Richard Murphy @RichardMurphy1]

Self belief, dedication and hard work can move mountains.
This has taken 10 years, but it is worth the wait!
I’ve done it! I am on the panel of speakers at the ALEP Spring Lecture. Just testament to focusing on your goal, no matter what obstacles.
https://t.co/owo8xOr9Rf