Can I extend my lease if I have a short lease?
Yes, you can still extend your lease even if it has a short remaining term. However, it’s important to note that as the lease shortens, the cost of extending it may increase, as you may be required to pay a higher premium to the landlord. It’s advisable to seek professional enfranchisement & lease extension solicitors […]
Who is my landlord?
Your landlord’s details are mentioned in the Freehold Title Register or on your ground rent demands.
How can I renew my lease?
There are two routes: non-statutory lease extension and statutory lease extension. Non-statutory extension involves informal agreement with your landlord, while the statutory route follows a legal process, including serving notices and potential negotiation or tribunal involvement.
How many years remain on my lease?
You can find the number of years in your lease agreement or by obtaining a copy from your landlord or the Land Registry.
Why do I need to pay a premium to my landlord?
The premium compensates the landlord for extending the lease and accounts for the increase in the property’s value that benefits you as the leaseholder.
When should I renew my lease?
Our enfranchisement & lease extension solicitors recommend extending your lease before it falls below 80 years to avoid increased costs associated with the “marriage value.” As the lease shortens, the premium payable to the landlord for the extension rises.
Why do I need to renew my lease?
Renewing your lease is crucial because, once the lease expires, the ownership of your flat reverts to the landlord. A lease extension ensures you maintain ownership and enables a smooth property sale.
What is leasehold property?
Leasehold property refers to properties, such as flats, where you lease the individual unit from a landlord for a set number of years. The lease outlines the rights and responsibilities of both parties, including maintenance and payment of ground rent and service charges.
What are the costs, key stages, and likely timescales?
To find out what’s included in our services, what costs are involved, and likely timescales, please check out the “Our Fees” page of our website.
How can I get started with HK Law’s residential conveyancing services?
Contact our experienced team today to discuss your property transaction needs. We offer an initial consultation to understand your requirements and provide tailored legal advice for your specific situation.
Can you assist with lease extensions?
Yes, we offer lease extension services to protect your long-term interests and ensure the extension process is handled correctly, providing you with peace of mind.
How long does the conveyancing process usually take?
The duration varies depending on the complexity of the transaction. However, with our experienced team of conveyancing lawyers and efficient processes, we strive to complete transactions promptly while ensuring accuracy.