Lease Extension Solicitor – do I really need one?
Lease extensions can prove tricky. Your landlord is almost certain to employ a solicitor who knows what they’re doing with regard to lease extension law, and the law itself is quite complex with traps for the unwary.
If you’re planning to extend the lease on your flat and you want your lease extension to go through smoothly and swiftly, there are several reasons why you need to get specialist lease extension advice and hire the right experienced solicitor to help you.
Got a leasehold extension question? Call our specialist solicitors on FREEPHONE 0800 1404544 for FREE initial phone advice – with no strings attached.
Lease Extension – It involves complex law and procedure
Both the law and procedure surrounding any residential lease extension is tricky – not only are there deadlines which are easy to miss, but also the Leasehold Reform, Housing & Urban Development Act 1993 [which is the legislation governing leasehold extensions] is pretty inaccessible if you aren’t a trained property lawyer.
The answer? An experienced lease extension solicitor will be able to explain the requirements you need to meet and what you need to do first – which is important as you obviously need to know whether or not you are eligible to extend your lease.
An experienced leasehold extension solicitor will also help you gather all the necessary information to proceed with extending your lease and help you to find a specialist surveyor to carry out your lease extension valuation.
Llike your solicitor, you must make sure that whoever values your lease extension is a specialist – very few surveyors are. Your solicitor will prepare all the necessary legal documents for you – including the Notice you need to serve to your landlord to start the whole formal process, and will make sure that your application sticks to the rigid timetable required.
A specialist lease extension solicitor can help you if your freeholder does not co-operate – perhaps by turning down your request or haggling with you over the price of your lease extension.
They will advise you on how to act during negotiations with your freeholder – or handle the negotiations for you – and if you can’t agree a fair price for with your landlord to extend your lease , they have the expertise to help you at the First-Tier Tribunal (Property Chamber) – known before July 1st 2013 as the Leasehold Valuation Tribunal or LVT.
Preparing your lease extension documentation
Your specialist solicitor can check the documentation for you to ensure that your freeholder does not try to sneakily amend your lease by changing existing terms or inserting terms that are to your advantage.
If you go ahead and try to agree the documentation without a solicitor, remember that you will be bound by whatever you sign; it will not be sufficient to say that you did not know the legal nature and effect of what you were signing.Such amendments may make the flat unattractive to future buyers and so make the flat difficult to sell.
Your solicitor will also be able to deal with all post-completion matters, including registering the lease extension at HM Land Registry.
DIY lease extension? Do I really need a solicitor? A case study
A few years back, a client came to us having negotiated terms for an informal lease extension with her freeholder directly. She simply wanted us to put this into place.
She hadn’t realised that although she had got a reasonable premium, it had been at the expense of what, over the years, would be a massive hike in the ground rent – increasing to many tens of thousand pounds a year within just a few decades.
This would have made her flat simply unsaleable – an incredibly expensive price to pay for saving a few quid off the price of the premium due to her freeholder. She eventually took our advice and we negotiated a sensible deal with her freeholder.
That’s the danger of a DIY lease extension.
Appointing the Right Lease Extension Specialist
Our team are genuine specialists – lease extension and enfranchisement work is all they do. What’s more, we have represented leaseholders and freeholders in thousands of lease extensions over the last 20 years – so you can rely on the expertise of our team.
Lease Extension Solicitor Reviews – What Our Clients Really Think
But don’t just rely on our word for it. Click here see to read just some some of the testimonials our team have had from satisfied clients and specialist lease extension valuers who refer work to us.
Five Critical Questions to Ask Your Solicitor
If you’re still not sure which solicitor to appoint, here are five simple questions to ask;
1. How many residential lease extensions you carry out each year?[Most property solicitors only do one in a blue moon – in contrast, our team expects to carry out at least 350 individual lease extensions in 2018]
2. Can you let me have any testimonials you’ve had about your lease extension work from satisfied clients or specialist surveyors? [See above for a link to testimonial from our clients and referrals]
3. Can you put me in touch with, or even appoint on my behalf, a specialist lease extension surveyor, local to my property? [We have a panel of specialist lease extension values nationwide – and we are happy to instruct them to value your lease extension on your behalf as part of a one-stop shop.]
4. How many specialist lease extension surveyors regularly refer work to you?
[Our team receive regular referrals from around a dozen specialist surveyors]
5. Can you give me a rough estimate of how much might lease extension will cost in total – include the premium as well as legal and surveying costs? [Our team provide this kind of cost estimate automatically FREE of charge]
For advice to trust from specialist Lease Extension Solicitors, call us today
- For FREE initial phone advice, with no obligation, call us now on FREEPHONE 0800 1404544, or
- Send us an email via the contact form below.
Comments or questions are welcome.