At Bird & Co we specialise in providing expert legal support for property owners seeking to extend their lease agreements.
A lease extension is an important and complex process, and our team of dedicated solicitors are here to navigate you through every step with precision and efficiency.
Our solicitors have extensive experience in lease extension matters. Whether you are a landlord or a tenant, we are dedicated to ensuring a smooth and transparent process.
From negotiating terms and assessing eligibility to handling legal documentation, our solicitors have the necessary expertise to help you secure a lease extension.
To get in touch with a member of our lease extension team covering London, give us a call or you can get a quote online.
How our lease extension solicitors can help people in London
Voluntary lease extensions
A voluntary lease extension is when a leaseholder and landlord mutually agree to extend the lease term beyond its original expiration.
This is often initiated by the leaseholder and involves negotiations on terms such as the lease duration and any associated costs.
Our lease extension solicitors play a pivotal role in facilitating this process by providing legal expertise. We can assist in drafting and negotiating the terms of the extension, ensuring compliance with relevant laws, and managing the necessary documentation.
Statutory lease extensions
A statutory lease extension allows leaseholders to extend their lease by a fixed term, under the Leasehold Reform Housing & Urban Development Act 1993.
Our lease extension lawyers can check if you qualify for a statutory extension, initiate the extension process, and ensure compliance with the legal requirements.
We can also negotiate terms with the landlord, protecting your rights and interests.
Lease enfranchisement
Lease enfranchisement is where individual leaseholders in a building or a group of related buildings have the right to buy the freehold of their property.
Our lease extension solicitors can help guide clients through this complex process, ensuring compliance with legal requirements.
We can assist with serving the initial notice, negotiating terms with the landlord and helping facilitate a fair valuation of the freehold, protecting your interests.
Collective enfranchisement
Collective enfranchisement is where a group of leaseholders collectively join together to purchase the freehold of the entire building or estate in which their individual leasehold properties are situated.
Our lease extension lawyers can assist with forming a tenants' association, serving the initial notice, and negotiating terms with the landlord.
With our legal expertise, we can navigate any potential disputes and ensure a smooth enfranchisement process, empowering leaseholders to take control of their property's freehold.
Leasehold property disputes
Leasehold property disputes are conflicts between leaseholders and landlords, often concerning issues like service charges, repairs, or lease terms.
Our lease extension solicitors can assist by providing legal guidance, interpreting lease agreements, and negotiating resolutions.
We may engage in alternative dispute resolution methods, such as mediation or arbitration, to avoid costly court proceedings. But, if necessary, our solicitors have the expertise to represent you in court.
Our lease extension solicitor’s fees
Our fees are transparent and, so long as the situation does not change, the fee we quote is the fee you will be charged.
We don't add extras for things like photocopying, postage, or the like. Those are our overheads and we don't pass them on to you.
All our fees are dependent on the nature and value of the transaction, so we naturally charge a bit more for more complicated and high-value work.
However, the fee charged will be the same for a customer in Newcastle as it would be for someone in London.
Lease extension FAQs
Am I entitled to a statutory lease extension?
Owners of leasehold properties, including both flats and houses, have the legal right to extend the lease on their property.
This right known as a statutory leasehold extension, is provided by the Leasehold Reform Housing and Urban Development Act 1993.
The statutory process, which allows an owner to add 90 years to the current leasehold term of their property, is subject to specific qualifying criteria.
The primary requirement is a minimum ownership period of two years. The owner doesn’t have to have lived in the property during this time, but the property must be owned in their name.
When should I renew my lease?
Renewing your lease is important as it can impact the value of your property.
It is generally advisable to renew your lease before the remaining term falls below 80 years. Crossing this threshold triggers an increase in costs, including the addition of 'marriage value.'
Addressing lease renewal before this point makes the process more cost-effective and safeguards against potential complications.
Seeking professional advice and initiating the process well in advance, reduces the financial and legal challenges associated with a shorter lease term.
How long does it take to extend a lease?
The time it takes to extend a lease varies but typically takes around three to 12 months. The process involves several stages, including obtaining professional valuations, serving notices, and negotiating terms with the landlord.
Delays may occur if there's disagreement on the terms or if the matter goes to a tribunal. Starting the process well in advance of the lease falling below 80 years minimises complications and allows ample time for negotiations.
Engaging solicitors and surveyors with expertise in lease extensions ensures a smoother and more efficient process, reducing the risk of delays.
Do I need a solicitor for a lease extension?
Yes, engaging a solicitor for a lease extension is highly advisable. The process involves legal intricacies, complex negotiations with the landlord, and adherence to specific legal frameworks.
A solicitor specialising in property law can guide you through the legal aspects, ensuring compliance with legal requirements. They will assist in serving the necessary notices, negotiating terms, and handling any disputes that may arise during the process.
Having a solicitor on your side ensures that the lease extension process is conducted smoothly, protecting your interests and providing legal clarity throughout the transaction.
Why is it important to extend your lease?
Extending your lease is important for multiple reasons. A longer lease enhances property value, making it more attractive to buyers and lenders.
It eliminates the risk of the lease term falling below 80 years, avoiding additional costs related to the 'marriage value.'
Extended leases provide greater control, preventing potential difficulties in selling or remortgaging a property with a short lease.
It also ensures the continued peaceful enjoyment of your home without concerns about lease expiration, contributing to long-term property security and financial well-being.
How much does lease extension cost?
The cost of lease extension varies widely based on factors like property value and the remaining lease term. Typically, it can cost upwards of £5,000.
The process may involve payment to the landlord for the lease extension and additional expenses, such as legal and valuation fees.
Seeking professional lease extension advice, from a solicitor or a surveyor, can help you consider potential negotiations and avoid any additional expenses that might arise during the process.
Get in touch with our lease extension solicitors for London
Get in touch with our lease extension solicitors covering London by giving us a call or you can get a quote online.