I am a Leaseholder
I want to extend my lease.
When your lease drops below 80 years it can become significantly more expensive to extend your lease.
The Leasehold Reform Housing and Urban Development Act 1993 entitles qualifying leaseholders to a 90 year extension on their current term and and peppercorn ground rent.
Do you qualify for a lease extension?
You qualify if:
- You have owned the property for more than 2 years (this is two years from the registration with HM Land Registry).
- The original lease length is in excess of 21 years.
NOTE: Charitable housing trusts, properties in a cathedral precincts, etc are exempt.
“Grace Clarke provided an excellent service for my lease extension. Her feedback was invaluable, and she was very generous with her time. Many Thanks for your service.“
Jack Butler
“Would highly recommend! I’ve recently had to renew my lease extension on my flat and needed a surveyor. They came around promptly, valued my property and sent me all the details as promised. They made the proses of extending my lease easy and hassle free. Very pleased with there work.”
Chris Spearing
What is the leaseholder extension process?
The journey
- Instruct a surveyor to carry out a valuation (use our tool above)
- Instruct a solicitor to serve a Section 42 notice
- The freeholder has a maximum of 2 months to respond with a Section 42 notice
- Instruct a surveyor to negotiate a fair and reasonable premium
- If a premium is not agreed before 6 months has passed from the Section 42 Notice, this is the latest an application to the First Tier Tribunal can be made
- Solicitors agree terms of the new lease
- Upon agreement of the terms, there is 4 months to complete the process
Learn more about “the lease extension journey.“
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