How do you extend a lease?

A lease of a flat or maisonette can be extended either formally or informally. Once you have owned the property for more than 2 years you have a right to a lease extension, which can be formally exercised by serving a Section 42 Notice of Claim, which we can help you with. You can make an informal approach to your freeholder and negotiate without the need for a notice, and we can help with the valuation and negotiation.

Is it a good idea to extend a lease and when should you do it? Usually, it is always a good idea to extend a lease, as it protects the value of the property and you should do it as soon as you can, as the shorter the lease, the more expensive it is. Unfortunately, you normally cannot extend a lease for free, unless you take on a very big ground rent, which is never a good idea.

Is it difficult to extend a lease?

It can seem difficult to extend a lease, as the law is so complicated, but we have worked in the field for so long that we can simplify the process for you. We can serve a notice and negotiate with your landlord, making the process painless for you.

Why is it so expensive? It can seem very expensive to extend a lease, especially if the lease is short and marriage value is payable. Unfortunately, the way the law is written, along with recent cases decided by the Upper Tribunal and Court of Appeal, make lease extensions expensive. The premium you pay is linked to the value of your property and the amount of ground rent you pay, as well as the years left on the lease. We work hard to ensure that our clients pay the lowest premiums possible.

Helpfully, a lease extension cannot be refused if you have owned the property for more than two years. We simply need to serve a valid Section 42 Notice of Claim, after gathering all the information we need, and we have been doing this successfully for over 25 years, so you can rest assured that we can make sure your claim reaches the best conclusion.

Give us a call on 0121 708 2266 to see if we can help you. It would be useful to know how many years are left on your lease and your current ground rent when you call.