Solicitors specialising in Extending Leases
Extending a lease can preserve, or significantly increase the value of your flat. However, residential leasehold extension is a highly specialist area of law – and that’s why it’s so very important to have solicitors who know what they’re doing.
You can rest assured that our specialist team have that experience and can help you to extend the lease on your flat.
This Extending a Lease website looks at topics such as what you get if you decide to extend your lease, the alternatives you might like to consider if you decide it’s not for you, information on the likely costs involved and why you will also need a specialist surveyor when extending the lease on a flat.
Extending a lease – what’s in it for me?
The Leasehold Reform, Housing & Urban Development Act 1993 provided the owners of many UK residential leasehold flats with the right to extend their lease by an additional 90 years.
Your lease is slowly losing value. The shorter the remaining term becomes, the less it’s worth – as a result extending your lease becomes more expensive.
Shorter leases can be much harder to sell – with some purchasers reluctant to buy a lease with under 80-85 years left and with mortgages harder to obtain on short leases – especially leases with under 70 years left.
Extending a lease is something you should certainly consider if your lease has between 70 and 90 years left. In particular once the remaining lease term dips just one day under 80 years, the price of extending that lease can increase significantly.
Our advice is to think twice before putting off extending the lease on your flat. Avoiding that expense now merely increases the price you will need to pay for extending your lease in the future, and so acting now will save you a significant amount of money in the long run.
Why use us to extend your lease?
Our team are genuine experts and understand all about extending leases – with considerable experience in this specialist area in acting for numerous residential leaseholders and freeholders in thousands of leasehold extension cases over the last 25 years.
We provide FREE initial phone advice on extending a lease
- Our team can exist you with your lease extension – whether it’s an informal, voluntary agreement with your freeholder or if you go down the formal or statutory route in extending your lease by 90 years [click here to read about the risks involved in an informal lease extension]
Our specialist team handle your case from beginning to end – working closely with specialist surveyors from the initial valuation of the premium you need to pay and application. We also work with you all the way, if necessary, to the First-Tier Tribunal (Property Chamber) [ known as the Leasehold Valuation Tribunal until it was renamed in July 2013] – though, fortunately, Tribunal disputes are fairly rare.
- We work on a daily basis with surveyors who specialise in lease extension valuations. We strongly recommend that you get a proper valuation of the premium you need to pay for your lease extension from a specialist surveyor – and, as part of our service, we are happy to organise, on your behalf, a local specialist surveyor for the valuation
We can help you in extending your lease either by taking your e-mail or phone instructions without having to see you face to face – or, alternatively, we can meet you in our offices in Wiltshire, Hampshire and Dorset.
Our clients like us – in a recent client survey, 95% said that our service was “excellent” or “good”, with 98% saying they would be happy “recommending the firm to others”. That high degree of client satisfaction has helped us grow 1000% in just 12 years – just by getting our service right.
How our Solicitors can help in Extending your Lease
In advising you on extending the lease on your flat, our specialist team can also explain your options with regard to related issues such as:
- The right for leaseholders to join together to buy the freehold of their block of flats – a legal process known as collective or leasehold enfranchisement
Setting up a right to manage company – you can force your landlord to give you the right to manage your own block
Considering a Lease Extension on Your Flat? Contact our Solicitors now
Wherever you live in England Wales, for clear and practical legal advice about extending your lease, contact us today.
- call us for FREE initial legal advice on FREEPHONE 0800 1404544 or
- email us using the contact form below
Comments or questions are welcome.