SPECIALISTS IN EXTENDING LEASES
Bournemouth has one of the largest number of leasehold flats in the country – which is hardly surprising, given that it is one of the UK’s most beautiful seaside resorts [now with its own premiership football team in AFC Bournemouth!], Bournemouth is a popular place for people to want to live and According to the latest 10 year census in 2011, the town has a population of 183,491 . As a result, prices have been pushed higher in recent years, making it difficult for young families and couples looking to get onto the property ladder.
With renting not an ideal long-term solution, many people are turning to leasehold flats as a way of effectively owning their own property without the enormous costs associated with a freehold arrangement. After all, the market price of a freehold property is generally much more expensive than a leasehold deal, which still enables you to own your own home. Owning a leasehold flat does have their downsides, but in an area like Bournemouth they’re ideal for getting that first foot on the housing ladder
But if you own a long leasehold flat in Bournemouth, or indeed anywhere else, then at some stage, that lease will need to be extended, unless you want to lose the ownership of your property and become a renting tenant.
Want to know more about Lease Extension? Call our specialist solicitors on  834450 or free on FREEPHONE 0800 1404544 for FREE initial phone advice – with no strings attached.
DO I NEED A BOURNEMOUTH LEASE EXTENSION SPECIALIST?
o Extending your lease can prove tricky– there are critical deadlines which can be easy to miss, and The legislation governing lease extensions is particularly hard to interpret
o It’s highly likely that your landlord will appoint their own specialist lease extension solicitor
o Sadly, many landlords simply don’t cooperate when it comes to extending your lease. They might simply try to turn down your request for lease extension or haggle unnecessarily over the price [watch out – this is a particular trick played by far too many landlords when your lease is approaching the critical 80 year term]. Whilst many are perfectly reasonable, if you’re stuck with an awkward landlord, a specialist solicitor can prove essential. They can negotiate a fair price for your lease extension – but if your landlord simply refused to cooperate, they will have the expertise to help you with an application to the First Tier Property Tribunal
o Your Bournemouth lease extension solicitor can help you gather all the necessary information for your, lease extension, help in appointing the right t surveyor value your lease extension, draft all the necessary legal documents and sort out all post-completion matters
IDENTIFYING YOUR LEASE EXTENSION SPECIALIST
Only a handful of law firms specialise in lease extension. Most property solicitors will, at most, only have handled the odd lease extension in their career – and in our experience, sadly they often don’t know what they’re doing.
Here at Bonallack & Bishop, we have all the leasehold extension expertise you need. We have a team of three dedicated UK lease extension specialists with a history of helping thousands of to extend their lease over the last 25 years.
We are also members of ALEP- the Association of Leasehold Enfranchisement Practitioners, the only national organisation of specialist lease extension surveyors and solicitors.
But you don’t need to take our word for it – here is a testimonial from a Poole based surveyor who specialises in lease extensions.
“ I have worked alongside [Bonallack and Bishop] on numerous lease extensions and have been impressed by [their] efficiency, regular communication and knowledge of the subject.”
Stephen Higley, Smith Robinson Higley Ltd, Chartered Surveyors, Poole
MAKE SURE YOU EXTEND YOUR LEASE BEFORE THE TERM FLAT DROPS BELOW 80 YEARS
The bad news is, if you have bought a flat with a short lease, or the lease is still relatively long but has just dipped below 80 years, you’re going to have to pay the freeholder more to extend it. Why?
That’s very simple.
As soon as any lease dips below 80 years – even by just one day, the landlord is entitled to charge you an additional premium for extending your lease – and this premium is known as the “marriage value”.
So, if your lease has just over 80 years to run, don’t mess around – get your lease extension as soon as possible. Even if you can’t afford a full 90-year extension, it’s very worth getting a short extension – to keep your options open, and to keep your lease above the magic 80 year figure.
Remember – however many years your lease has to run, extending the term of that lease is going to cost you more, the longer you leave it
NOT JUST EXTENDING LEASES
Our specialist Leasehold team represent leaseholders, freeholders, property management companies, landlords and residents associations, providing jargon-free legal services and practical legal advice.and we don’t just extend leases – we also deal with the following specialist leasehold work:
- Claims for Collective Enfranchisement (also known as Freehold or Leasehold Enfranchisement)
- Forming a right to manage company
- License to alters
- New leases
- Leasehold disputes – including ground rent and service charge arrears
THINKING OF A LEASE EXTENSION BOURNEMOUTH? CALL 01202 834450 TODAY
We run most of our leasehold extensions cases without needing to see you – taking by e-mail, phone and video call – though we are equally happy if you want to come into the office to see us.
We can give you a quote for your lease extension and answer your initial queries by email – or we can arrange to ring you back at a time convenient to you, if you prefer.
So for FREE initial phone advice about your lease extension, get in touch with our team by
- Complete the email contact form below,
- Or call us now on  834450 or free on FREEPHONE 0800 1404544