If you own a flat, the chances are you own a lease.What you might not know is that the value of your flat will decrease as the term of the lease runs down, especially if it has only 80 years or less left to run.
You do have a statutory right to extend your lease, but you must have owned it for two years. When buying a flat, you should always check the term of the lease and if it is less than 100 years you should try and persuade the seller to start the process to extend it.
Existing leaseholders can simply negotiate a longer term with their freeholder. You should do this as soon as possible because costs increase if the lease falls below 80 years. To ensure your application is successful, we can submit it on your behalf, confirming all the necessary details are correct.
We can help if your freeholder refuses to discuss an extension or won’t agree a price. We can also help if you are a freeholder having difficulty reaching an agreement with your leaseholders over an extension.
Where you can’t agree, we can support you in taking your case to the property tribunal.
We will always agree a price for our services with you in advance, so you can be confident you know what to expect.