Enfranchisement & Lease Extension Solicitors

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.

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.

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.

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.

You can find the number of years in your lease agreement or by obtaining a copy from your landlord or the Land Registry.

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.

Your landlord's details are mentioned in the Freehold Title Register or on your ground rent demands.

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 for advice as early as possible to understand your options and make an informed decision.