Wheh would I require a leasehold extension?
If your lease is due to come to an end, it is important that you either enter into new lease to obtain a Leasehold Extension. Therefore, if you are at the final stages of your lease, action must be taken.
What is the process of obtaining a lease extension?
The leaseholders conveyancer will usually serve a Notice to Obtain Information from your landlord (the freeholder), after this they will then serve the Notice of Claim which will include:
- Details of the property
- Details of the lease, this will evidence that you qualify for the extension
- The date for the landlord’s lease extension counter-notice, the landlord will usually value the property or lease and serve a counter-notice, this will state whether they are willing to accept or if they will object to the claim.
- Proposed premium for the lease extension, when the landlord responds they may request 10% of the offered premium amount as a deposit.
If you cannot come to an agreement with your landlord then you or your landlord can apply for a Leasehold Valuation Tribunal to determine the costs of the lease extension.
I want to extend my lease, what do I do?
If you are wanting to obtain a leasehold extension then contact our team today, we can discuss your circumstances and requirements and get you matched up to one of our experienced solicitors.
We can help get everything set up today which can be beneficial when trying to save costs. The cost of your lease extension is fixed from the date your extension notice is served on your landlord, so give us a call or contact us here.