If you have owned the leasehold on a property for more than two years, then you might be eligible to extend the lease. Leases with less than 75 years to run may not be acceptable to a mortgage company or buyer when you come to sell, so it is often advisable to extend the lease sooner rather than later to retain the value of the property and make it more saleable if you decide to re-mortgage.
Our experienced team of solicitors can guide you through the legal process of extending a lease confidently to ensure that you understand potential issues and avoid any pitfalls. They will:
- help you to decide on the formal or informal route
- suggest expert surveyors to help you get a good deal
- check your title
- prepare and serve the initial Notice exercising your right to a lease extension
- help you with the Landlords’ Counter-Notice
- finalise the drafting and registration of the new lease at the Land Registry.
Extending a lease is a complex area of law with set time scales and processes to follow, and failure to follow the set procedures could be a costly mistake. For more information, contact Joanna Nixon on 01603 677077.
