Logo2013_lgs
CALL: 0207 428 1970
Go to >>
Go to >>
Go to >>
Go to >>

Lease Extension - Introduction

Worried about selling your property with a short lease?
Want a fair and impartial valuation?
Want to avoid dispute with your landlord?

Extending your lease has been a legal right to qualifying leaseholders since 1993. Leases will continue to get shorter and in some areas of London leases of 40-60 years are common place.

Increasingly legislation has been changing to benefit the leaseholder. For example qualification criteria have been relaxed and it is no longer necessary to live in the flat for 3 years or qualifying periods amounting to 3 years. You will need to own the lease for 2 years to qualify but do not need to live in the flat and can own it through a company. BUT, if you want to sell up, you can sell on your rights under Section 43 of the 1993 Act so the new purchaser does not have to wait 2 years to qualify.

Exercising the right requires a formal legal notice to be served on the Freeholder and all intermediate landlords.

Your statutory right is to an additional 90 years with ground rent reduced to a peppercorn.

Here the Leasehold Guidance Service provides a step-by-step guide to Extending Your Lease.


Steps

You can:

  1. Read more about lease extension, or
  2. call us 020 7428 1970 to get 10 minutes free consultation

Go back to the previous page   Go to the top of the page

© Copyright 2005 - 2017 Ringley Limited. Company No. 03302438. All Rights Reserved.
Registered Office: 349 Royal College Street, London, NW1 9QS. Registered in England & Wales.