Lease Extensions

Whether you, our client, are a leaseholder or a freeholder, we liaise with your solicitor and provide timely valuation advice to help avoid pitfalls and to ensure the best possible outcome.

Lease Extension / Extend Lease Specialists for the London Area

In order to extend a lease either under the legislation or informally, a premium is paid by the leaseholder to the freeholder as compensation for the later return of the flat and for the loss of ground rent income. Before commencing the process any leaseholder should obtain expert advice both as to the likely level of premium to be required and also the amount to be included in the initial S42 Notice to the freeholder.

For freeholders, valuation advice is required both as to the likely level of premium achievable and also as to the amount to be included within the counternotice. Whether you, our client, are a leaseholder or a freeholder, we liaise with your solicitor and provide timely valuation advice to help avoid pitfalls and to ensure the best possible outcome.

Why get a Lease Extension?

Most people assume when they buy a flat that they are buying the bricks and mortar but most flats are leasehold. A lease is simply a right to occupy for a period of years. Leases with over 85 years unexpired are the most valuable and saleable. Leases below 85 years are less valuable and can present problems on sale or mortgage. Leases below 80 years are even less valuable as “Marriage Value” is factored into the cost of any lease extension. It is important to extend a lease before it falls below 80 years.

By adding a statutory 90 year extension you will secure your flat’s value and make it more saleable. Freeholders may offer a new 99 year term or similar often at a reduced premium but with an escalating ground rent, should be treated with great caution as they are rarely favourable to the leaseholder when compared to the statutory entitlement.

Lease Extension Summary

A lease extension is a sensible course of action because :

  • Short leases (under 85 years) are hard to sell
  • Short leases (under 85 years) are worth less and are harder to mortgage or remortgage
  • Leases are a wasting asset... When they run out they are worthless!
  • A lease extension protects your asset against erosion by time and safeguards your investment
  • An extended lease is usually at nil (a peppercorn) ground rent
  • The longer you leave it the more expensive a lease extension becomes, increased costs rising year on year
  • If a lease slips below 80 years “marriage value” makes it even more expensive to extend
  • A lease extension protects your asset against erosion and protects your heirs/inheritors
Areas Covered Include:
  • Acton W3
  • Balham SW12
  • Barnes SW13
  • Battersea SW11
  • Bayswater W2
  • Belgravia SW1
  • Belsize Park NW8
  • Bow E3
  • Brixton SW2
  • Camden N1
  • Chelsea SW3, SW10
  • Chiswick W4
  • Clapham SW4
  • Clerkenwell EC1
  • Crystal Palace SE19
  • Ealing W5, W7, W13
  • Earls Court SW5
  • Finsbury N4
  • Fulham SW6
  • Hammersmith W6
  • Hampstead NW3
  • Highgate N6
  • Holland Park W11
  • Islington N1
  • Kennington SW8
  • Kensington SW7
  • Kilburn NW6
  • Maida Vale W9
  • Marylebone NW1
  • Mayfair W1
  • Notting Hill W11
  • Oval SW8
  • Pimlico SW1
  • Putney SW15
  • Raynes Park SW20
  • Richmond TW9
  • Sheen SW14
  • Shepherds Bush W14
  • Southfields SW18
  • St John's Wood NW8
  • Stockwell SW8, SW9
  • Streatham SW2, SW16
  • Tooting SW17
  • Vauxhall SW8
  • Victoria SW1
  • Wandsworth SW18
  • Westminster SW1
  • Wimbledon SW19
Postcodes covered include:
  • SW1-SW20
  • W1-W14
  • SE1-SE27
  • NW1-NW6
  • N1-N22
  • WC1 & WC2
  • EC1-EC4
  • E1-E20
  • KT1-KT10
  • TW9 & TW10
  • CR0-CR8
Frequently Asked Questions

The landlord can make changes, however it depends on which route you take will have an impact on the number of variations they can make Find out more..

It is strongly recommended to obtain a valuation from a qualified surveyor who specialises in this area. They will give you the valuation of what the lease is worth. Find out more..

Testimonials
Thank you so much for all your invaluable help – hate to imagine where we’d be now without it!
Mrs JT of Fulham SW6
A tricky lease extension successfully negotiated in Hammersmith & Fulham.
Your quick response and delivery of your report enabled our sale to exchange without any further delay.
JF of SW6
The vendor of a flat in Fulham who was moving to France.

If you would like to get FREE Advice or a quote for our services then call 020 8875 0035 or click the button below and we'll get right back to you.

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