If you own a residential leasehold property and wish to extend your lease, you’ll need to navigate the process of lease extension.

As a leaseholder, you might also have the opportunity to purchase the freehold of your property, provided you meet the qualifications outlined in the Leasehold Reform Housing and Urban Development Act of 1993. This process is known as enfranchisement.

There are two compelling reasons why maintaining a long lease is of paramount importance. Firstly, it safeguards your investment, as the property’s value tends to decrease as the lease term shortens. Secondly, selling a property with a short lease can become increasingly challenging, as potential buyers and mortgage lenders typically prefer properties with longer leases.

Lease extension and enfranchisement are complex legal matters, but our team of specialist lawyers boasts extensive experience in advising both landlords and tenants in these areas.

We offer comprehensive assistance and advice in various aspects of lease extensions and enfranchisement, including:

• Statutory Lease Extension: This involves the statutory procedure for extending the lease period by 90 years.
• Non-Statutory Lease Extension: Reach an agreement with your landlord to extend the lease without utilizing the statutory procedure.
• Voluntary Lease Extension: In cases where other flats in the same development have had their leases extended, the landlord may agree to extend your lease on similar terms.
• Variation of Leases
• Rent Reviews
• Purchasing Leasehold Properties
• Preparing Deeds of Covenant
• Handling All Forms of Licenses Relating to Leased Premises
• Supplementary Lease Work
• Landlords Selling Freehold to Leaseholders
• Individual Purchase of the Freehold
• Collective Enfranchisement: When several tenants collectively seek to purchase the freehold.
• Right to Manage: This empowers tenants to manage a building without purchasing the freehold.
• Tenant’s Right of First Refusal: In situations where tenants have the first opportunity to buy the freehold of a building.
• Auction Sales and Rights of First Refusal
• Residents Associations
• Court or Tribunal Applications: In instances where the landlord fails to respond to your offer or presents unreasonable terms for your new lease.

Contact us today on 01708 722466 or complete the enquiry form below for a no obligation chat and find out how we can help you protect your property investment.