Are you a leasehold property owner?
Are you interested in lease extension?
If you are a UK leasehold flat or house owner, did you realise there is legislation which gives you the right to increase the value of your property? The value of your flat is likely to be significantly increased by a properly negotiated lease extension. However, any leasehold extension involves a complex area of law and it’s critical to have lease extension solicitors who really understand what they’re doing. With 25 years experience in this area, you can rely on our solicitors for the right specialist advice.
So, if you are considering finding out how to extend your lease on your leasehold property, contact us first.
Lease Extension- What’s in it for me?
- Your lease is gradually losing value. The shorter any remaining lease term becomes, the less it is worth – and as a result any extension of your lease gets more expensive.
- A short lease is usually more difficult to sell. Many purchasers are simply reluctant to purchase any lease with less than 90/95 years left.
- Mortgages are much harder to obtain on shorter leases. Some lenders simply refuse a mortgage on leases with under 60-70 years remaining.
- Many tenants have the right to extend their lease by an additional 90 years under the 1993 Leasehold Reform Act.
- A leasehold property extension is something you really need to think about if your lease has between 70 and 90 years remaining. In particular once the remaining lease term slips under 80 years, the cost of any lease extension increases significantly.
We strongly recommend that you think twice before delaying your lease extension.
Putting off that expense now simply increases the price you will eventually have to pay for any lease extension.
Why use us for your UK Lease Extension?
- Here at solicitors Bonallack and Bishop, we understand all about lease extensions – with over 25 years experience in representing thousands of tenants in this specialist area of law.
Click here for real case studies on how we have helped clients with extending leases
- Our team provides FREE initial telephone advice on FREEPHONE 0800 1404544
- We can provide you with a FREE ESTIMATE of how much your lease extension is likely to cost you – which will include the price of the premium and the legal and valuation costs.
- Our solicitors can assist you in extending your lease either without the need for a face to face meeting by taking instructions by e-mail and phone – or, if you prefer, we can meet you at our main office in Salisbury, Wiltshire
- We can handle the process from beginning to end – working alongside specialist surveyors from the initial valuation, all the way, if required, to the Leasehold Valuation Tribunal [ re-named in 2013 as the ”First-tier tribunal – Property Chamber (Residential Property)]
- We work with specialist surveyors every day – so, as part of our service, we can also put you in touch with a surveyor who really understands how to value your lease.
- Our clients like us – when we asked our clients recently, 98% were so satisfied with our service that they would be happy to “recommend the firm to other people” with 98% describing our client care as “excellent” or “good”. Click here to read what our clients say about us
Extending my lease – what should I do first?
When considering a leasehold property extension, the first thing you need to do is appoint a specialist solicitor to help you with the legal aspects, which can be complicated. Then you will need to appoint a chartered surveyor who specialises in this field for a valuation.
Make sure you pick a surveyor who specialises in leasehold extensions.
Your Lease Extension One-Stop Shop
Our team regularly work closely with specialist surveyors throughout the country – we can help you pick the right one and instruct them on your behalf to prepare a valuation of the premium you’re going to need to pay for the lease extension on your flat – just give us a ring.
How else we can help you
In addition to helping you to extend your lease, our solicitors are also highly experienced in dealing with the following two related issues:
- Leasehold Enfranchisement – leaseholders have the right to come together and buy the freehold to their block of flats.
- Right to Manage Companies – you may be entitled to force your landlord to transfer to you and some, or all, of your fellow leaseholders the right to manage your own block. With a history of bad block management, this can sometimes save considerable amounts of money
For Lease Extension Advice you can rely on – contact us today
Our expert Lease Extension Solicitors can advise you wherever you live in the UK and we don’t even need to see you – taking your instructions by e-mail, phone and Skype video:
- Just call us on FREEPHONE 0800 1404544 for a FREE initial phone consultation and a FREE quote for your lease extension, OR
- Complete the email contact form below
Comments or questions are welcome.