Two new paralegals join our lease extension team

Here at Wiltshire lease extension specialist solicitors, Bonallack and Bishop, we are delighted to welcome two new paralegals to our property team – Dale Bree and Hollie Jarvis. The two roles are both brand-new and reflect the rapid expansion of our property work.

Dale & Hollie ResizedDale, a graduate of both Exeter University and previously Brighton Institute of Modern Music, joins us, having completed his legal practice course. He will work exclusively as part of a lease extension team, and he will be gradually trained up to running his own full leasehold extension caseload.

His colleague, Hollie, is well known to us here at Bonallack and Bishop. She previously worked with us for five years at our Andover office in the property as a secretary. After a three-year absence during which she progressed to become a residential property paralegal, Hollie has now returned to us and  is now about to start her training as a Licensed Conveyancer and her role with us will be a mixture of lease extension and residential property.

Senior partner Tim Bishop commented, “I’m absolutely delighted to have these two locally-based paralegals join us. Our property work, and in particular, our lease extension work is expanding rapidly. Last year we helped around 225 leaseholders with extending a lease  – and this year we are on course to open around 350 files – our plans are that within two years we will increase that to 500 lease extensions year.

That means our Salisbury-based lease extension team will need to continue to grow – and there aren’t that many genuine lease extension specialist out there – so we have taken on these two talented young people with the intention of training them up as lease extension specialists. We also in the process of recruiting a specialist lease extension solicitor who we hope will join us in the autumn. It will is very exciting to see our specialist lease extension work rose very quickly.”

Bonallack and Bishop also has offices in Amesbury and Andover. The business was originally founded in 1832, making it one of the Wiltshire‘s longest standing employers.

Own a flat in Wiltshire? Thinking about extending your lease? Contact us today

Here at Bonallack and Bishop, we have the only genuinely specialist lease extension team in Wiltshire.

So, if you are thinking about extending the lease on your flat, and you are looking for specialist legal advice, get in touch with our team. Wherever your flat is based in Wiltshire we will guide you through your leasehold extension – taking your instructions by phone, email or Skype, or in  a face-to-face meeting at our Salisbury office with the lease extension teams based

  • phone us today for free initial advice locally on Salisbury [01722] 422300 or FREEPHONE 0800 1404544  or
  • complete the email contact box below.

    Nottingham Lease Extension Solicitors

    Do you live in Nottingham? Do you own a leasehold flat? If so, the chances are that you will need to think about a lease extension very soon

    Many people are either unaware of the importance of extending their lease or delay extending it for so long that the price of doing so shoots up dramatically. Don’t make the same mistake, start the renewal process today.

    NOTTINGHAM – THE SIZE OF THE LEASEHOLD MARKET

    The city of Nottingham was estimated to be home to 310,837 people in 2013, with the population of the wider Nottingham area estimated at 729,977. As the largest urban area in the East Midlands (and the second largest in the Midlands), there are more long leasehold flats and apartments in Nottingham than in most towns or cities for many miles. In fact, if you count the population of the entire Nottingham/Derby metropolitan area combined, the population shoots up to more than 1.5 million, with the area having the seventh largest metropolitan economy in the United Kingdom.

    As a university city and an area which has a lower employment figure and a higher than average proportion of disabled people who are out of work, Nottingham has seen the proportion of home owners drop significantly over the last fifteen years, with an increase in rented and leased properties. It should come as no surprise, then, that fifteen years on lease extension is a hot topic in the city of Nottingham.

    LEASE EXTENSION SOLICITORS – MAKE YOURS AN EXPERT

    People are often tempted to try and conduct the leasehold extension process themselves but this is a dangerous game. Lease extension law and procedure is difficult to understand and in order to extend your lease you must meet specific deadlines and draft certain documents. Furthermore, your landlord is likely to instruct a specialist leasehold extension solicitor so you want to make sure that you are on a level playing field.

    Whilst most landlords are very agreeable you may find yourself in a position where your landlord is delaying negotiations so that your lease runs below the critical 80 year level, thus costing you more to renew. A  lease extension specialist will be able to spot such underhand tactics and if necessary will be able to take your case to a Leasehold Valuation Tribunal.

    YOUR LEASE EXTENSION – OUR EXPERTS CAN HELP

    Our solicitors can help in a number of ways. We have contacts with surveyors who will value your lease. We can also manage the timetable for your extension and draft all of the complex legal documents required.

    We have a dedicated team of 5  lease extension specialists rather than generalist property lawyers trying their hand at lease extensions and are members of the Association of Leasehold Enfranchisement Practitioners.

    LIVE IN NOTTINGHAM? WANT TO EXTEND YOUR LEASE?  DON’T DELAY – CONTACT US TODAY

    We do not need to be able to see our clients in Nottingham in person in order to conduct their lease extensions. Telephone, email or Skype contact is all we need in order to run your lease extension from start to finish. In fact we are on course to complete around 350 lease extensions this year, for clients throughout England and Wales, most of whom we never meet.

    Our team are leasehold extensions experts – so for FREE initial advice on getting a leasehold extension that you can rely on, along with an estimate of the likely costs of extending your lease, please contact us today;

    • Call us for free now on FREEPHONE 0800 1404544, or
    • Send us an email using the contact form below.

      Brighton Lease Extension Solicitors

      Procrastinating over your lease extension is simply not an option. The costs you incur as a result can be enormous so it is crucial that you instruct a specialist, Brighton lease extension solicitor. If you live in Brighton, our team of experts can help.

      WHY YOU NEED A BRIGHTON LEASE EXTENSION SPECIALIST

      Many property lawyers try their hand at extending a lease only once in a blue moon and unfortunately, they often fail to achieve the best outcome for their clients. In order to get the fairest deal for your lease extension you will need a specialist lease extension solicitor like those at our firm. Our solicitors can help you by:

      • Bringing together all the information needed for your leasehold extension

      • Finding a respected surveyor to value your lease extension

      • Drafting documents which will be legally recognised

      • Deal with any issues arising immediately after completion

      • Negotiating with (often awkward) landlords in order to reach a fair price for your lease extension

      • Helping with applications to the First Tier Property Tribunal in instances where landlords refuse to co-operate, deliberately stall or agreements cannot be reached.

      BONALLACK & BISHOP – BRIGHTON LEASE EXTENSION EXPERTS

      Our leasehold extension team is formed of 3 expert leasehold extension solicitors with a history of helping clients nationwide with their lease extensions spanning 25 years.

      Unlike many property solicitors who claim to be able to do lease extension work, our solicitors are recognised specialists. And we are members of the Association of Leasehold Enfranchisement Practitioners.

      But don’t just take our word for it – here is a testimonial from a Hove based specialist lease extension and enfranchisement surveyor, whose business has undertaken over 1500 valuations for lessees and freeholders alike.

      “As one of the leading and longest established firm of chartered surveyors specialising in leasehold reform, we have worked with Bonallack and Bishop on many occasions. The process is complex and a procedural minefield. Bonallack and Bishop certainly know the ropes and we have always found them knowledgeable and efficient and a joy to deal with”.

      Andrew Pridell, Andrew Pridell Associates Ltd – specialist Lease Extension Chartered Surveyor and Valuer, Hove

      BRIGHTON LEASE EXTENSION – CONTACT OUR SPECIALISTS TODAY

      Whilst some of our clients like to come and visit us in office, this really is not necessary. In fact for the vast majority of lease extensions we are able to carry out all communication with clients through phone, email or Skype video.

      Get in touch with us today and we will be able to give you a quote for how much your UK lease extension may cost or arrange a consultation with you to discuss your situation in depth.

      So for FREE initial phone advice about your lease extension,

      • Complete the email contact form below,
      • Or call us now free on FREEPHONE 0800 1404544

        Birmingham Lease Extension Solicitors

        Birmingham‘s population is now [according to figures released in 2014 by Birmingham Birmingham Lease Extension Solicitors – logo of ALEPCity Council] over 1.1 million people.

        And there are probably over 100,000 privately owned flats and apartments – the 2011 Census confirmed that Birmingham contained 86,595 purpose built flats – and that’s before you even start to count up the many thousands of houses  converted into flats over the years.

        So with so many leasehold flats in Birmingham, you won’t be at all surprised to hear that it’s a popular area for lease extensions.

        However, some people in Britain’s second city will put off extending their lease only to discover that they face far greater expense when they eventually get round to doing so.

        Here at Bonallack & Bishop, our specialist solicitors can make sure that you you get a fair deal for your lease extension.

        Got a lease extension question? Call our specialist solicitors on FREEPHONE 0800 1404544 for FREE initial phone advice – with no strings attached.

        THE ROLE OF A SPECIALIST LEASE EXTENSION SOLICITOR

        Specialist lease extension solicitors, like ours, recognise the complexity of both the law and procedure surrounding lease extensions. You need to keep a really close eye on various deadlines – and the process generally is full of pitfalls for those who don’t know what they doing.

        Bearing in mind that your landlord is likely to know a good lease extension solicitor it is advisable that you instruct a specialist yourself in order to put yourself in the best position possible. Your solicitors negotiating skills and ability to collect evidence will be central to getting a fair deal. It is also important that they know good surveyors who can value your lease fairly.

        Many unscrupulous landlords will attempt to hold up the negation process for so long (or simply refuse to cooperate at all) so that your lease runs down to the 80 year mark and therefore becomes far more expensive to extent. Our solicitors can spot these tricks and if you landlord is being devious or simply difficult, can take the necessary action and if necessary will be able to help you to apply to the First Property Tribunal [previously known and still often referred to as the Leasehold Valuation Tribunal or LVT].

        BONALLACK & BISHOP – BIRMINGHAM LEASE EXTENSION EXPERTS

        There are very few firms in England and Wales who specialise in leasehold extension.

        Around 10,000 firms don’t . But we do. And we estimate that in 2018, our team will probably help another 350 leaseholders with their lease extensions.

        Our firm comprises a lease extension team made up of highly experienced specialists who have helped thousands of clients around the country over the last 35 years. Unlike other property solicitors who do the occasional UK lease extension, our solicitors deal with them all the time – that means they have the expertise you are going to need.

        We are members of the Association of Leasehold Enfranchisement Practitioners.

        But you don’t just need to take our word for it. Here is a testimonial for our team from one of the country’s most highly regarded lease extension surveyors

        “As one of the leading and longest established firm of chartered surveyors specialising in leasehold reform, we have worked with Bonallack and Bishop on many occasions. The process is complex and a procedural minefield. Bonallack and Bishop certainly know the ropes and we have always found them knowledgeable and efficient and a joy to deal with”.

        Andrew Pridell, Andrew Pridell Associates Ltd – specialist Lease Extension Chartered Surveyor and Valuer, Hove

        Click here if you want to see some more testimonials for the team.

        CONSIDERING A LEASE EXTENSION IN BIRMINGHAM? CONTACT US TODAY

        Don’t leave it too long to extend your lease. Get in touch with our specialist solicitors to start the process. Whether you wish to stay in contact via telephone, email or Skype, we are happy to help.

        • 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

          Lease extension paralegal vacancy

          THIS POSTION HAS BEEN FILLED

          Here at lease extension specialists Bonallack and Bishop, we are looking for a really able full-time paralegal to support our Salisbury-based team.

          Our team is one of a very small number of genuine experts in leasehold extension work – we are on course to hit our target of doubling the team’s workload over the next 18 months.

          The successful candidate will have good language, IT, communication and numerical skills, great client care and will show the ability to work well as part of a team.

          Preference will be given to local candidates.

          No previous lease extension experience is required.

          Ongoing training

          Bonallack and Bishop are happy to consider funding external training with the Institute of Legal Executives for the successful candidate.

          Salary

          We are looking to pay between £15k and £17k – which is dependent on your experience.

          To apply for this vacancy, email Bonallack and Bishop’s Senior Partner Tim Bishop at tim.bishop@bishopslaw.com with an accompanying letter and your CV.

           

          Welcome to the latest member of a lease extension team

          Today we welcome on board the latest member of our specialist team of lease extension experts – Anne Albritton.

          Anne has 30 years of experience in the property world and has specialised in lease extension and leasehold enfranchisement work for the past seven years. She is a qualified Fellow of the Chartered Institute of Legal Executives, and joins us from a well-known Bournemouth law firm where she worked for a number of years alongside another member of our Salisbury, Wiltshire based lease extension team – Niki Adkins.

          Our 4 strong lease extension team is now well on its way to reaching our initial target of doubling our lease extension work. Our growth has been quite considerably recently. For many years we worked for one very large client conducting around hundred leasehold extensions every year. We then decided we needed to extend their expertise to acting for individual leaseholders and initially increased our work by 50%. We then set a target of doubling that work overall, and we are already halfway towards that.

          Senior partner of Bonallack and Bishop (who run this lease extension website), Tim Bishop, commented “extending a lease involves a very exciting area of law. It’s one of the very few areas where going to see a lawyer doesn’t result in just a legal bill – extending your lease means that you are virtually guaranteed that the increase in the value of your flat will well exceed the legal and other professional costs involved. What’s more, given that there are an estimated 1.5 million leasehold properties in England and Wales, and given further that so few leaseholders seem to really understand that they do have the right to extend the lease by up to a further 90 years, there is huge scope for expansion in this work.

          “What’s more,” Tim continued, “it really is an excellent time to consider extending your lease at the moment. But only does the cost lease extension rise as the remaining leasehold term drop, but with house prices continuing to rise, putting off that lease extension is simply going to mean you have to pay more to your freeholder to extend your lease. In fact one set of London based surveyors have estimated that in London, at least, the cost of lease extension is currently going up by a whacking 12% each and every year.”

          Tim added, “The big question for us, is how long the current team will be able to cope with our growing work – and how long it’ll be before we need another member of the team. My guess – probably early 2016 at the latest.”

          Considering leasehold extension? For expert legal advice to rely on, call us now

          Our experts team can help you – wherever your flat is in Salisbury or anywhere else in England or Wales.

          You don’t need to coming to see us – they always welcome to do so – our team regularly help people extend their leases nationwide using e-mail, phone and Skype video:

          So if you’re thinking of a lease extension;

          • Just call us on 01722 422300 for FREE initial phone advice and a FREE quote for standing your lease, OR
          • Complete the email contact form below for a call back

            Two new members of our lease extension team

            Those of you who have been regular readers of this blog will know that recently we set a target of doubling our lease extension work for client nationwide the next couple of years.

            Well, while we are certainly not there yet, we are well on the way and as a result I’m really pleased to say that we have already had to expand our specialist leasehold extension team based in Salisbury, Wiltshire.

            The first new member of the expanded team is our excellent trainee solicitor, Jenny Slater. Jenny has been working with the lease extension team since the summer of 2014. She qualifies as a solicitor in September 2015 and she has enjoyed the lease extension work so much that we’ve agreed that not only will she continue to work in the lease extension team up to qualification, but when she qualifies a solicitor, we have offered her a full-time contract as a property lawyer, with the plan that she will spend a considerable amount of her time on lease extension work – as well as gradually taking on responsibility for some of the firms commercial property work. Between now and then, Jenny’s experience in helping our clients with extending a lease will grow and we anticipate that she will  play an increasing role in the team, running an increasing number of lease extension files herself as experience and specialism grows.

            I’m personally really pleased to offer Jenny a full-time contract solicitor – I spotted her when she was working as part of our reception team, offered her a job as my marketing assistant [which she did brilliantly] and then took her on as a paralegal and then trainee solicitor.

            In addition to Jenny, the team is getting so busy that we have been absolutely delighted to take back on Nikki Callender as the administrative support for our property team. The plan is that much of Nikki’s time will be spent on lease extension work – the team are getting so busy that to continue take on work at the current rate, especially with the plan to continue to increase our leasehold extension caseload, they need more and more admin support. We are really pleased that a significant number of staff who left us over the years, have asked to come back and work for us again – however we are very choosy about the quality of our staff, and as a result we only take back the best  – and as a result we are were absolutely delighted that Nikki is now back with us.

            So watch this space – as our specialist lease extension team continues to grow.

            Thinking of extending your lease? For legal advice you can trust, call us now

            Our team of Lease Extension experts can assist you – wherever your flat is in Salisbury where our team is based, anywhere in Wiltshire or or in fact anywhere in England or Wales, and we don’t even need to see you – taking your instructions by e-mail, phone and Skype video:

            So if you’re thinking of extending your lease;

            • Just call us on 01722 422300 for a FREE initial phone consultation and a FREE quote for your lease extension, OR
            • Complete the email contact form below

              Lease Extension in Basildon

              Basildon was effectively created in 1948 as a new town in order to accommodate the overspill population from London after the Second World War. It originally consisted of four villages: Pitsea, Laindon, Basildon and Vange. Today, though, the town is home to more than 100,000 people and is far more of an urban centre than its original village heritage suggests.

              In fact, Basildon is one of the most densely populated areas in the country, partly due to the large number of flats in the town. Although some of these flats are rented by the tenants, a great number are at is known as “long leasehold” properties, essentially owned by the leaseholder with a term that was originally granted for at least 21 years.

              PROBLEMS WITH SHORT LEASES

              When you come to sell your flat, if you’ve got less than 60 years left on your lease, you may be surprised to find how difficult it is to sell – in particular with such a short lease term, your flat will probably be un-mortgageable. When it comes to remortgaging or selling, you really will have major problems.

              Given that a significant number of the flats and apartments in Basildon were built in the 70s and 80s, usually with a term of 99 years, that means that many of those flats have a relatively short lease and are going to get increasingly hard to sell. For example, say flat was built in 1975 – that’s 39 years ago, which means there are only 60 years left on the lease.

              THE ANSWER TO YOUR SHORT LEASE PROBLEM

              Most flat owners don’t realise they have the legal right to force their freeholder to grant them an additional 90 years on top of the current lease.. There is no requirement that you need to have ever lived in the flat – simply that you have owned it for at least two years.

              Exercising your legal right to get additional 90 years on top of the current lease is achieved by going through a formal legal procedure – although as an alternative, it is possible to negotiate directly with the freeholder, and come to a claimant to extend the lease informally, potentially for a much shorter period than 90 years.

              However the timing, negotiations and legal arrangements for lease extension can prove very tricky – particularly if you’re working with an awkward freeholder who wants to try and drag the process out, especially when your lease is approaching the critical 80 year point – after which the price of lease extension rises significantly.

              Regardless of whether you’re thinking of making a formal statutory application or coming to an informal arrangement with your freeholder, you’re going to need a solicitor – and it’s really important that you pick one who specialises in leasehold extension work.

              CAN I USE MY LOCAL SOLICITOR?

              There is absolutely nothing stopping you using your local solicitor – but before you do, it’s really worth asking them one simple question –

              “How many lease extensions have you completed in the last year?”

              Why, because the vast majority of solicitors only come across lease extensions once in a blue moon – if at all. So they probably have very real experience of this tricky area of law.

              EXTENDING YOUR LEASE – WHY NOW IS THE RIGHT TIME

              Although in principle, you can extend your lease at any time, for most people, we strongly encourage them to do so sooner rather than later. But why?

              • Your lease extension is getting steadily more expensive

              You are currently being hit in two directions – not only will the premium you have to pay to extend your lease steadily increase as the remaining term of your lease drops, but with rising house prices, that will also increase the cost of your lease extension. In fact, one major freehold company recently estimated that the cost of lease extensions in London was going up by a staggering 12% a year. If this continues, you, you will have to pay double for lease extension in under seven years – that’s not a great incentive for you to extend your lease now, we don’t know what is

              • Lease extension solves your short lease problem and will make selling your flat much easier

              Buyers simply prefer long leases – so if you’re thinking of selling, and your lease is comparatively short (probably with a remaining term of anything below 70 or 75 years), there without a lease extension, you will attract far fewer potential purchasers , and will almost certainly achieve a much lower price

              • Mortgage lenders increasingly avoid short leases

              There’s been a real trend in the last few years, for mortgage lenders to significantly tighten their criteria or it comes to lease or property. In particular. Many now don’t lend on any remotely short lease – so whereas it was relatively easy to get a mortgage on a flat with say 50 or 60 years left 10 years ago, any potential buyer may now struggle to get a mortgage offer to buy a flat with say 70 [or even 80 years!] left on the term

              • A lease extension takes time

              if you’re thinking of selling your flat at sometime in the future, our strong advice is to get your lease extension sorted out now. Why – if you have to go down the statutory route, which we normally recommend. If you’re looking to sell a flat in the near future, then that can take up to 6 months – and you won’t want that kind of delay when you found your new dream home

              YOUR BASILDON LEASE EXTENSION – HOW OUR TEAM CAN HELP

              • With experience of many thousands of lease extension extensions for leaseholders and freeholders alike, our team have all the specialist experience you need. We have one of the top teams in the country, and lease extension work is all they do.

              • Our team provide FREE initial telephone advice – just phone FREEPHONE 0800 1404544

              • We have developed a network of specialist lease extension surveyors nationwide with we regularly work – and can introduce you to a specialist surveyor local to you who will be able to accurately value your lease extension – like solicitors, leasehold extension surveyors need to be specialists.

              • We prepare all the necessary legal documents and notices and managed the tricky timetable involved

              CONSIDERING A LEASE EXTENSION IN BASILDON? CONTACT OUR EXPERTS TODAY

              Our specialist team have helped many thousands clients with their lease extensions over the last 25 years. And when it comes to extending your lease, it doesn’t matter where you live in England and Wales – we can help. In fact we deal almost all of our extension clients solely through telephone, email or Skype video.

              And what’s more – initial phone advice from specialist team is FREE – so why not give us a call now?

              • Simply, phone us now on FREEPHONE 0800 1404544 or,

              • Fill out the email contact form below

                Buying A Flat – Five Key Points About Leasehold Extension

                There are many different things to think about when you are buying a residential leasehold flat or apartment, or if you’re buying one of those rare beasts – a leasehold house. One of the main considerations is that the land on which your property is built does not belong to you, and this raises some important considerations to be aware of.

                1. Term of the Lease Remaining

                The first thing to look at is just how long there is left on the existing lease. The length of the lease is the time remaining for your ownership of the property. If the lease expires, the ownership of your property passes back to the freeholder, unless you have agreed to extend the lease beforehand.

                2. Rights to Extend Your Lease

                Most people who are buying a residential leasehold property just don’t understand their right to lease extension. This isn’t really surprising, as leasehold extensions are a complex area of the law with which many estate agents are not familiar and which many conveyancing solicitors don’t take the time to explain to their clients. In basic terms, once you have been the owner of your flat for two years – even if you have never lived there yourself – you have the legal right to compel your freeholder to extend your lease by a period of 90 years, whether they like it or not.

                As the period on you lease starts to run down, getting it extended becomes increasingly important. As well as facing the prospect of eventually handing the flat back to the freeholder, many property owners find out the hard way that flats with a short lease are difficult to get a mortgage to buy and therefore hard to sell. It’s also important to realise that if you want to extend the lease straight away after purchase rather than waiting for two years, the person who is selling the flat to you can start the process of extending the lease before the sale goes through and then pass that on to the buyer once the deal is completed.

                3. Service Charges

                It is standard practice for owners of residential leasehold properties to pay an annual service charge. These charges can be anything between from a few hundred pounds to a few thousand pounds every year. The service charge goes to the freeholder, and covers things like upkeep of the land and the building. Leaseholders are legally entitled to ask their freeholder for proof of how they are spending this money, and if freeholders cannot or will not provide receipts or evidence, it is a criminal offence.

                4. Reserve or Sink Funds

                Occasionally, a leasehold tenant is asked to pay into an additional fund called a sinking fund or a reserve fund. This find is designed to cover any unexpected disasters or major repairs to the building.

                5. Ground Rent

                It is a common clause in any lease that the tenant pays an annual ground rent to the freeholder. This is because you are classed as the temporary owner of your property, but are legally only renting the ground which it is built on. Ground rent is usually not a large sum, but if the lease says it has to be paid then there is no way around that. Look carefully at the lease to see what it says about increases to the ground rent. It is normal for there to be regular increases to ground rent, but ensure that you are not signing up to something which allows the freeholder to increase the ground rent substantially after a few years.

                However sometimes there are disputes about issues surrounding ground rent arrears – don’t worry if this applies to you, as we can help – our team also specialise in ground rent arrears cases.

                Being a property owner can be an expensive business and it might sometimes seem that the list of costs is endless. Many of the costs are associated with essential repairs and maintenance which you would have to cover yourself if you owned the property outright, and over the years the costs will balance out.

                It might sound like there are many drawbacks to owning leasehold properties, but they are often still a good investment. Apart from providing you and your family with somewhere to live, having a leasehold flat or apartment can be the first step on the property ladder and a way to owning a freehold house in the future.

                Before taking steps to buy a leasehold flat or other property, make sure that you get a specialist property solicitor to look over the lease and explain it to you in plain English. Residential leases are not standard and can differ hugely in their terms, so it is important to know exactly what you are getting yourself into and what your obligations are, both now and in the future.

                Interested in Leasehold Extension? Contact us today

                Our team are genuine UK leasehold extension experts – so for great advice on extending your lease, please contact us today;

                • Call us now on FREEPHONE 0800 1404544, or
                • Send us an email using the contact form below.

                [si-contact-form form=’1′]

                Lease extension in Milton Keynes

                When the new town of Milton Keynes was first designed and built, affordable well-placed housing was at the top of the list of priorities. Today, Milton Keynes is home to more than 250,000 people and covers around 35 square miles. The population has grown enormously over the past few years, with the town’s vibrant culture and busy shopping precincts being very attractive for young families looking to start their lives together.

                The town is one of the only ones in the country to have a dedicated separate cycleway network, with its entire transport infrastructure designed around easy travel — indeed, its grid system and roundabouts are famous across the whole country, the town having been designed to make it easily navigable for cars, cyclists and pedestrians alike.

                With the population boom in Milton Keynes, the need for housing has meant thousands of new homes have been built around the town, with many of them flats or leasehold apartments.

                YOUR RIGHT TO EXTEND YOUR LEASE

                If you live in Milton Keynes and you own a leasehold flat, did you know that you have the legal right to extend your lease? Well, you do – either by forcing your freeholder to grant you an additional 90 years on to the end of your current lease, or by agreeing a voluntary or informal lease extension with your freeholder.

                Put simply, subject to a few simple conditions (click here to see if you and your flat fit the criteria for lease extension) anyone can extend their lease at any time – but beware, because the process is not always easy.

                HOW A LEASE EXTENSION SPECIALIST CAN HELP

                It’s not a legal requirement that you get a solicitor to represent you – but most sensible people do. It’s a bit like buying a house – yes, you could do the legal work yourself, but sensibly, very few people try, preferring to appoint a specialist. For a start, when you come to extend your lease, it’s almost inevitable that your freeholder will hire a solicitor of their own.

                But if you do decide to appoint a solicitor, it’s really important that you get someone who specialises in lease extension. Very few solicitors do – most conveyancing solicitors only come across lease extension once in a blue moon, and with respect, a lot of them make a complete mess of it, as they don’t understand the regulations and, in particular, the very tight timetable that a formal lease extension involves.

                By getting your own specialist solicitor, you can rest assured that you have a expert to guide you through the process of extending a lease with the minimum of fuss.

                EXTENDING YOUR LEASE – DON’T DELAY

                It’s true that you can extend your lease at any stage, but our strong advice is to get your lease extension through as soon as possible. Why?

                The price is going up.

                Currently the ongoing increase in property prices means a hike in the premium you will have to play for extending your lease. When you add that to the fact that every day your lease is getting shorter, which in turn means you have to pay more for your lease extension, the reality is that delaying your is extension application is simply going to make it more expensive. In fact, recently one major London-based freehold company estimated that the cost of lease extension was going up by 12% every year – so, putting your application off by another seven years could mean you have to pay your freeholder 100% more!!!

                Lease extensions take time

                Unfortunately, many people only think about extending a lease when it comes to sell the property – that can create problems with timescales. A formal lease extension takes on average, six months, due to the strict timetable involved. The alternative, an informal agreement with your freeholder still takes time – and you risk dealing with an script landlord who could pull the plug on your agreement at any time – or try to use your need for a quick lease extension to increase the price. So a sensible leaseholder will want to extend their lease well in advance of a potential sale

                Don’t let your lease drop below 80 years

                Why? That’s simple. The very day that the remaining term of your lease drops below 80 years, your freeholder is entitled to charge an additional premium – which will cost you thousands of pounds more. So our advice is that whilst you should always look to extend your lease sooner rather than later, that’s particularly important when the remaining term of your lease is somewhere between 80 and 85 years.

                A short lease means mortgage problems

                Post recession, most lenders have significantly tightened their criteria on lending on leasehold property. As a result, many lenders simply won’t allow a buyer to borrow on any lease with a term below 70, or even 80 years in some cases. So, if you end up with a short lease, you could find that most purchasers are simply won’t be able to get a mortgage which means a delay in selling and probably a much lower sale price. The answer – early lease extension.

                YOUR MILTON KEYNES LEASE EXTENSION – HOW WE CAN HELP YOU

                • With experience developed over 20 years and many thousands of successful lease extensions, our team have got the specialism you need – click here to see what our clients and the surveyors we use think of us

                • We offer FREE initial phone advice – just call us now on FREEPHONE 0800 1404544

                • We will arrange to appoint a specialist surveyor to accurately value your lease extension – getting the right surveyor is as important as getting the right specialist solicitor

                • Our team deal with the application itself, all of the accompanying notices and documentation and make sure your application sticks to what can be a strict timetable

                THINKING ABOUT A LEASE EXTENSION IN MILTON KEYNES? CALL US NOW

                Over the last 20 years or so, are experts have helped many thousands of leaseholders with extending a lease.

                We can help you with your lease extension wherever you live in England and Wales – we regularly take instructions from clients solely by phone, email or Skype video only.

                So what’s stopping you getting in touch now? After all, initial phone advice from our experts is FREE.

                • Simply, phone us now on FREEPHONE 0800 1404544 or,

                • Fill out the email contact form below
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