Over the next couple of years, the specialist lease extension team here at Bonallack and Bishop have plans to double the number of lease extension cases we manage. The expert team, which does nothing but work in the field of lease extension and freehold purchase, already deals with over 220 cases every year. However, given that there are over 1.5 million long leasehold flats in England and Wales, there is huge potential for growth in this area as many of them will need a leasehold extension in the future. We think that this is an optimum time to take on an increased workload and also dedicate more people to the team.
It’s not just the upturn in the housing market which will drive more business, we are also embarking on a new marketing campaign. Our campaign is focused around educating owners of long residential leases as surprisingly few of them know that they have the legal right to force the freeholder into a lease extension of up to 90 years. The education campaign isn’t just aimed at individual flat owners. It’s also come as a shock to us to discover just how few estate agents, mortgage brokers and other professional involved in the property market really have a clear understanding of the availability of lease extension and how it works – not to mention the fact that when buying or selling a property with a short lease, lease extension becomes of critical importance.
We’re already stepping up the amount of work we’re doing in this area, and as well as dedicating a new member of our administrative staff to the lease extension team, our existing lease extension lawyers have recently had their numbers increased numbers swelled by the addition of a new trainee solicitor, who is due to qualify in September 2015 – and who remain full-time with the lease extension team.
Act now to extend your lease
We’ve got some very clear and simple advice when it comes to extending your lease – act now. With every day which passes your lease gets shorter, and this increases the cost of extending it. Rapidly rising house prices at present also affect the amount of premium you will have to pay to extend, as this is based on the market value of your house. With every month which passes and the value of your flat increases, you’re going to have to pay more to extend your lease.
Considering leasehold extension? For expert legal advice to rely on, call or email us now
Our experts team can help you – wherever your flat is in Salisbury or anywhere else in England or Wales.
You don’t need to come and see us in person, but you are always welcome to do so – our team regularly help people extend their leases nationwide using e-mail and over the telephone.
So if you’re thinking of a lease extension;
- Call 01722 422300 today for a FREE initial phone consultation OR
- Fill out the enquiry form below