Leasehold Definitions - Jargon Buster

8 definitions for letter H:

Head Lessee

The Head Lessee owns the Head Lease, out of which all sub leases have been issued.

Header tank

A small water storage tank normally placed in a roof, which is required to replace water lost in a hot water system due to expansion.

Home buyers survey and valuation report

This is a survey report which is not as detailed as a full structural survey and is carried out by a chartered surveyor.

Homebuyer's survey and valuation (house/flat buyer's report)

Unlike the Building survey, this type of survey does include a valuation of the property. This survey is designed to provide a general assessment of the condition of the building and highlights any significant problems that may affect the property value. It is particularly useful for properties of conventional design, built within the last 150 years.

Hope value

The amount by which a prospective purchasers bid for a property would be increased due to expectations of an increase in value, for example, by knowledge that it might be easy to get planning permission for a more valuable use.

Head lease

A term which is often used to describe the top lease in a heirarchy of leases. Such leases are often created where perhaps a freeholder or land owner does not sell the freehold interest in their land to a developer but grants a lease which allows the developer to construct a building and then later sell off leases for a day or so less than the developers lease in the various units created. As well as the cash consideration paid to buy the lease the head lessee would normally covenant/undertake to pay the freeholder ground rent in return for his lease.

How is a Building Listed

Buildings are added (or removed) from the list by the DCMS Listing, Archaeology and World Heritage branch, on the advice of specialist inspectors employed by English Heritage. A building is added in one of three ways:

• periodic re-survey of a borough or district
• sstudies of particular building types eg. post-war housing
• spot listing of individual buildings under threat.

There is no requirement to consult the owners before a building is listed but unless an inspector is aware of a specific threat, they will contact the owner or leave a visiting card.
There is also no right of appeal against a listing and no right to compensation for loss of redevelopment opportunities.

How Can I Get a Building Listed or Delisted

The DCMS will consider a request to review a listing providing the request is accompanied by new evidence relating specifically to the architectural or historic interest of the building. Evidence about a building's condition and cost of repairing or maintaining it or redevelopment plans can not be considered by the DCMS. If you want a building to be listed or a listing to be reconsidered, you must write to:
Department of Culture Media and Sport
Listing, Archaeology and World Heritage Branch
2-4 Cockspur Street
London SW1Y 5DH

You do not need to be the owner of a building but the DCMS does not normally consider a request for de-listing when:

• there is a current application for listed building consent relating to the building
• there is an appeal against refusal of consent
• if any legal action is being taken by Camden.

Any request for a listing review should be accompanied by:

• a justification for adding (or deleting) a building
• location plan
• clear up-to-date photographs
• any other historical information on the building.

There is no requirement to consult the owners before a building is listed but unless an inspector is aware of a specific threat, they will contact the owner or leave a visiting card.
There is also no right of appeal against a listing and no right to compensation for loss of redevelopment opportunities.